FX.co ★ Malaysia Bourse Tipped To Extend Winning Streak

Over the course of three consecutive trading sessions, the Malaysian stock market has seen moderate growth, amassing over 15 points or an increase of roughly 1 percent. Now, the Kuala Lumpur Composite Index stands just above the 1,550 point level and is forecast to continue its growth trajectory on Tuesday.

An optimistic global forecast for Asian markets is projected, spearheaded by the technology and oil sectors. While European markets have suffered losses, U.S markets observed growth, a trend expected to be mirrored by its Asian counterparts.

The KLCI ended Monday's trading session marginally higher, attributing the growth to the positive performance of financial services while accounting for losses from the telecoms and mixed results from plantation industries.

The index increased by 0.05 percent or 0.081 points to close at 1,553.64 points on Monday. In the day's trading, the index fluctuated between 1,544.32 points and 1,557.33 points.

Among active stocks, AMMB Holdings experienced a 0.24 percent decrease, Axiata dropped by 1.42 percent, Celcomdigi dipped 0.68 percent, while CIMB Group grew by 0.61 percent. Tech giant YTL Corporation soared by 5.36 percent and YTL Power surged by 6.52 percent. However, Telekom Malaysia plunged 7.38 percent. Other significant stocks like Tenaga Nasional, Hong Leong Bank, Genting Malaysia, Sime Darby Plantations, and Nestle Malaysia remained unchanged.

U.S. markets performed well on Monday, with each of the major indexes showing strong gains. Tech stocks led the rally, with significant contributions from Alphabet and Nvidia. Meanwhile, investors are bracing for the Federal Reserve's two-day monetary policy meeting this week. Given the recent inflation measurements, anticipation for a June rate cut has notably dampened.

In additional U.S economic news, there was an unexpected boost in U.S. homebuilder confidence this March as reported by the National Association of Home Builders.

Oil prices also experienced gains on Monday, as geopolitical risks brought about concerns regarding supply. This is due to the ongoing drone attacks against Russian oil refineries by Ukraine, along with a reduction in crude exports from Iraq and Saudi Arabia. The West Texas Intermediate Crude oil futures for April rose by $1.68 or 2.1 percent, closing at $82.72 a barrel.