The Malaysia stock market has alternated between positive and negative finishes through the last five trading days since the end of the three-day slide in which it had stumbled more than 30 points or 2 percent. The Kuala Lumpur Composite Index now rests just above the 1,605-point plateau although it figures to head south again on Friday.

The global forecast for the Asian markets is negative on disappointing economic data and sliding oil prices. The European and U.S. markets were down and the Asian bourses figure to open in similar fashion.

The KLCI finished sharply higher on Thursday following gains from the financial shares, plantation stocks and telecoms.

For the day, the index climbed up 19.44 points or 1.22 percent to finish at 1,606.42 after trading between 1,585.45 and 1,607.80. Volume was 12.125 billion shares worth 6.647 billion ringgit. There were 599 gainers and 452 decliners.

Among the actives, Top Glove skyrocketed 5.75 percent, while Hartalega Holdings surged 3.57 percent, Petronas Chemicals soared 3.22 percent, CIMB Group spiked 3.10 percent, Sime Darby Plantations accelerated 2.54 percent, Malaysia Airports Holdings plunged 1.88 percent, Genting jumped 1.81 percent, Axiata tumbled 1.54 percent, Dialog Group climbed 1.06 percent, AMMB Holdings gathered 0.98 percent, MISC perked 0.90 percent, Digi.com advanced 0.71 percent, PPB Group and Kuala Lumpur Kepong both rallied 0.53 percent, Sime Darby added 0.47 percent, Maybank collected 0.38 percent, Tenaga Nasional gained 0.35 percent, Public Bank rose 0.34 percent, Press Metal increased 0.21 percent, IHH Healthcare and Maxis both were up 0.19 percent and Hong Leong Financial, IOI Corporation and Genting Malaysia were unchanged.

The lead from Wall Street is weak as stocks showed a lack or direction on Thursday before moving sharply lower as the day progressed.

The Dow tumbled 353.51 points or 1.31 percent to finish at 26,652.33, while the NASDAQ plunged 244.71 percent or 2.29 percent to end at 10,461.42 and the S&P sank 40.36 points or 1.23 percent to close at 3,235.66.

The weakness on Wall Street followed the release of some disappointing U.S. economic data, including a Labor Department report showing first-time claims for U.S. unemployment benefits increased for the first time in sixteen weeks.

A separate report from the Conference Board showed its reading on leading U.S. economic indicators increased by less than expected in the month of June.

Earlier in the day, the negative sentiment generated was partly offset by news that Senate Republicans and White House negotiators have reached a fundamental agreement on a $1 trillion coronavirus relief bill.

Crude oil futures settled lower Thursday, extending losses from the previous session amid rising concerns over excess supply in the market and the outlook for energy demand. West Texas Intermediate Crude oil futures settled at $41.07 a barrel, losing $0.83 or 2 percent.

Malaysia Bourse Likely To Hand Back Thursday's Gains