KLCI to trend cautiously, domestic issues to weigh

TheEdge Mon, Mar 05, 2018 06:01am - 3 years ago

KUALA LUMPUR (March 5): The FBM KLCI is expected to trend cautiously today as sentiment at the local bourse may remain jittery despite the rebound at Wall Street last Friday as domestic issues ahead of the impending 14th general election weigh on investors’ minds.

Stocks on Wall Street rebounded on Friday as investors who were initially spooked by the prospect of a global trade war backed off those concerns on the notion that President Donald Trump was just rattling sabers as a negotiating tactic, according to Reuters.

Trump's pledge on Thursday to impose hefty tariffs on steel and aluminum imports sparked concerns about tit-for-tat retaliation that could wound a healthy U.S. economy that is poised to deliver record corporate earnings. It said.

The Dow Jones Industrial Average fell 70.92 points, or 0.29 percent, to 24,538.06. The S&P 500 gained 13.58 points, or 0.51 percent, to 2,691.25, and the Nasdaq Composite added 77.31 points, or 1.08 percent, to 7,257.87, said Reuters.

Based on corporate announcements and news flow last Friday, companies in focus on Monday may include: Chemical Company of Malaysia Bhd, IOI Corp Bhd, Lion Diversified Holdings Bhd, Maxis Bhd and OldTown Bhd.

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