(fxcue news) - The Malaysia stock market has moved higher in three straight sessions, almost 20 points or 1.2 percent along the way. The Kuala Lumpur Composite Index now sits just beneath the 1,615-point plateau and it may tick higher again on Thursday. The global forecast for the Asian markets is upbeat on an improved outlook for interest rates, although geopolitics may limit the upside. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion. The KLCI finished modestly higher on Wednesday following gains from the industrials and mixed performances from the financials, telecoms and plantations. For the day, the index added 7.13 points or 0.44 percent to finish at 1,614.09 after trading between 1,606.53 and 1,616.03. Among the actives, Axiata shed 0.42 percent, while Celcomdigi advanced 0.82 percent, CIMB Group eased 0.12 percent, Genting dropped 0.82 percent, Genting Malaysia retreated 1.40 percent, IHH Healthcare and Nestle Malaysia both climbed 1.11 percent, IOI Corporation rallied 1.80 percent, Kuala Lumpur Kepong slumped 0.84 percent, Maxis added 0.57 percent, MRDIY tumbled 2.67 percent, Petronas Chemicals soared 2.07 percent, PPB Group jumped 1.69 percent, Press Metal sank 0.60 percent, Public Bank gained 0.44 percent, QL Resources declined 1.23 percent, RHB Bank collected 0.77 percent, SD Guthrie fell 0.39 percent, Sunway lost 0.41 percent, Telekom Malaysia rose 0.31 percent, Tenaga Nasional spiked 1.94 percent, YTL Corporation surged 3.24 percent, YTL Power accelerated 1.62 percent and Maybank, MISC, Sime Darby and Petronas Gas were unchanged. The lead from Wall Street is positive as the major averages opened higher on Wednesday and remained in the green throughout the session before all ending at record closing highs. The Dow rallied 308.51 points or 0.69 percent to finish at 45,014.04, while the NASDAQ spiked 254.21 points or 1.30 percent to close at 19,735.12 and the S&P gained 36.61 points or 0.61 percent to end at 6,086.49. The strength on Wall Street was generated by optimism about the outlook for interest rates following the release of some weaker than expected U.S. economic data. Payroll processor ADP said private sector employment in the U.S. increased by slightly less than expected in November. Also, the Institute for Supply Management showed U.S. service sector growth slowed more than anticipated last month. Following the data, CME Group's FedWatch Tool is indicating a 75.5 percent chance the Federal Reserve will lower interest rates by 25 basis points later this month. However, during remarks later in the afternoon, Fed Chair Jerome Powell reiterated the central bank will take a cautious approach to cutting rates due to the continued strength of the economy. Crude oil prices tumbled on Wednesday on geopolitical concerns in the Middle East and in the Russia/Ukraine conflict, as well as political chaos in South Korea and France. West Texas Intermediate Crude oil futures for January closed down $1.40 or 2 percent at $68.54 a barrel.