Malaysian Shares Tick Higher; FOMC Decision in Focus -- Market Talk

Dow Jones
2024-12-18

0907 GMT - Malaysia's Kuala Lumpur Composite Index ended 0.1% higher at 1599.58. Investors remained cautious ahead of the highly anticipated Fed rate decision, iFAST Capital analyst Jane Chia Jing Ying says. With the likelihood of a rate cut looking strong, the market will focus on the Fed's policy tone, particularly through the dot plots and updated quarterly economic projections, to assess the likely direction of rates in 2025, she adds. Chia pegs the KLCI's support at 1580 and resistance at 1630. Among gainers, Tenaga Nasional added 2.0% and Genting Malaysia rose 1.4%. Meanwhile, Capital A lost 2.0% and Petronas Dagangan was 1.5% lower. (yingxian.wong@wsj.com)

 

(END) Dow Jones Newswires

December 18, 2024 04:07 ET (09:07 GMT)

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