(RTTNews) - The Malaysian stock market turned right back to the downside again on Thursday, one session after it had ended the two-day losing streak in which it had fallen more than 15 points or 0.9 percent. The Kuala Lumpur Composite Index settled just below the 1,580-point plateau, and now traders are expecting continued softness at the opening of trade on Friday.
The global forecast for the Asian markets suggests consolidation on renewed concerns over the economy and the debt limit in the United States. Technology stocks are expected to see continued pressure, along with steel companies and airlines. The European and U.S. markets finished firmly in the red, and the Asian markets are expected to follow that lead.
The KLCI finished flat on Thursday as losses from the plantation stocks were erased by gains from the industrials.
For the day, the index eased 0.83 points or 0.05 percent to finish at 1,579.84 after trading between 1,577.76 and 1,581.69. Volume was 713.1 million shares worth 1.370 billion ringgit. There were 429 decliners and 257 gainers, with 346 stocks finishing unchanged.
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