Malaysia Stock Market May See Continued Consolidation

(RTTNews) - Ahead of Wednesday's holiday for Malaysia Day, the Malaysia stock market had turned lower again, one day after ending the four-day losing streak in which it had fallen almost 10 points or 0.6 percent. The Kuala Lumpur Composite Index now sits just shy of the 1,680-point plateau and it may take further damage on Thursday. The global forecast for the Asian markets is soft after the U.S. Federal Reserve raised interest rates for the first time in three years. The European markets were up and the U.S. bourses were down and the Asian markets are expected to follow the latter lead. The KLCI finished sharply lower on Tuesday following losses from the financial shares, plantation stocks and industrial issues. For the day, the index stumbled 18.