KLCI to pause for breather after recent gains, stay above 1,800-level

TheEdge Tue, Jan 16, 2018 05:42am - 6 years View Original


KUALA LUMPUR (Jan 16): The FBM KLCI is likely to pause today to take a breather after its recent gains, in line with European stocks that edged lower on Monday.

However, the local benchmark index is expected to stay above the 1,800-point level.

The euro hit a fresh three-year high on Monday as optimism around growth buoys expectations of tighter policy from central banks, while the chance of a pro-European coalition in Germany also boosted confidence in the continent, according to Reuters.

With the world in general and Europe in particular showing signs of sustained economic growth, global stocks benchmarks jumped to fresh highs, even though investors are now pricing in the withdrawal of central banks' extraordinary stimulus, it said.

Wall St stocks set new records on Friday, but U.S. markets will be mostly closed on Monday for the Martin Luther King Day holiday, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus on today may include: Kinsteel Bhd, T7 Global Bhd, Malaysia Airports Holdings Bhd, CIMB Group Holdings Bhd, Hubline Bhd, Ajiya Bhd, Amtek Holdings Bhd, Perisai Petroleum Teknologi Bhd, Vizione Holdings Bhd, Amcorp Group Bhd, Sanichi Technology Bhd, MNC Wireless Bhd, Tasco Bhd and Efficient E-Solutions Bhd.

 

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