(fxcue news) - The Malaysia stock market has moved lower in back-to-back sessions, slipping almost 4 points or 0.2 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,640-point plateau and it may take further damage again on Wednesday. The global forecast for the Asian markets is soft thanks to rising treasury yields. The European and U.S. markets were slightly lower and the Asian bourses are expected to follow suit. The KLCI finished slightly lower on Tuesday following losses from the plantations, support from the telecoms and a mixed picture from the financial sector. For the day, the index slipped 3.14 points or 0.19 percent to finish at 1,642.54 after trading between 1,642.35 and 1,648.31. Among the actives, Axiata spiked 1.25 percent, while Celcomdigi advanced 0.84 percent, CIMB Group lost 0.49 percent, Genting slumped 0.98 percent, Genting Malaysia dropped 0.86 percent, Hong Leong Bank collected 0.38 percent, Hong Leong Financial climbed 1.06 percent, IHH Healthcare rose 0.42 percent, Kuala Lumpur Kepong shed 0.57 percent, Maxis surged 2.96 percent, Maybank dipped 0.38 percent, MISC eased 0.26 percent, Nestle Malaysia rallied 1.17 percent, Petronas Chemicals sank 0.70 percent, Petronas Dagangan tumbled 1.86 percent, PPB Group slid 0.42 percent, Press Metal perked 0.41 percent, Public Bank fell 0.44 percent, SD Guthrie soared 2.33 percent, Sunway gained 0.45 percent, Telekom Malaysia added 0.61 percent, Tenaga Nasional declined 1.23 percent, YTL Corporation retreated 1.34 percent, YTL Power skidded 0.87 percent and QL Resources, RHB Bank, Sime Darby, IOI Corporation and MRDIY were unchanged. The lead from Wall Street offers little clarity as the major averages opened slightly lower on Tuesday and hugged the line throughout the day, with the NASDAQ managing to peek above the line by the close. The Dow shed 6.71 points or 0.02 percent to finish at 42,924.89, while the NASDAQ rose 33.12 points or 0.18 percent to end at 18,573.13 and the S&P 500 slipped 2.78 points or 0.05 percent to close at 5,851.20. The early weakness on Wall Street reflected renewed concerns about the outlook for interest rates after a recent surge by U.S. treasury yields. After the Fed slashed interest rates by 50 basis points last month, CME Group's FedWatch Tool is currently indicating an 89.6 percent chance of just a 25-basis point rate cut next month. The subsequent recovery by the markets came even though the yield on the benchmark ten-year note crept up to a nearly three-month closing high, as traders are optimistic about the economic outlook. Oil prices rose sharply on Tuesday amid hopes that China's latest stimulus move will push up demand, although the upside was limited by a possible a ceasefire deal in the Middle East. West Texas Intermediate Crude futures for November added $1.53 or 2.1 percent at $72.09 a barrel.