The Malaysia stock market has finished lower in three straight sessions, sliding more than 20 points or 1.3 percent along the way. The Kuala Lumpur Composite Index now rests just beneath the 1,765-point plateau and it may find traction on Wednesday.
The global forecast for the Asian is mixed and flat ahead of key central bank meetings in the next few days. The European markets were slightly lower and the U.S. bourses were mixed and flat - and the Asian bourses figure to split the difference.
The KLCI finished modestly lower on Tuesday following losses from the financials, plantations and industrials.
For the day, the index sank 11.64 points or 0.66 percent to finish at the daily low of 1,764.16 after peaking at 1,776.10. Volume was 2.35 billion shares worth 2.38 billion ringgit. There were 571 decliners and 309 gainers.
Among the actives, YTL Corporation surged 5.15 percent, while Astro Malaysia Holdings plummeted 4.24 percent, Genting plunged 2.27 percent, Maybank tumbled 1.64 percent, CIMB Group skidded 1.29 percent, Tenaga Nasional dropped 1.10 percent, Telekom Malaysia shed 1.03 percent, Petronas Chemicals lost 0.60 percent, IOI Corporation fell 0.43 percent, Axiata dipped 0.42 percent, IHH Healthcare added 0.16 percent and MISC, Genting Malaysia, AMMB Holdings, Maxis, Sime Darby and PPB Group all were unchanged.
The lead from Wall street is cautiously optimistic as stocks showed a lack of direction on Tuesday, bouncing back and forth across the unchanged line before ending mixed.
The Dow fell 1.58 points or 0.01 percent to 25,320.73, while the NASDAQ climbed 43.87 points or 0.57 percent to 7,703.79 and the S&P 500 rose 4.85 points or 0.17 percent to 2,786.85.
The soft performance came ahead of monetary policy announcements by the Federal Reserve and the European Central Bank. The Fed is widely expected to raise interest rates by 25 basis points on Wednesday, while the ECB may discuss ending its bond purchasing program on Thursday.
In economic news, the Labor Department reported a modest increase in consumer prices in May, while core CPI edged up to a 15-year high.
Traders largely shrugged off the meeting between President Donald Trump and North Korean leader Kim Jong Un - who pledged to work together to "build a lasting and stable peace regime on the Korean Peninsula."
by P2PNews Staff Writer