KLCI to start week on muted note, to take cue from weaker global markets

TheEdge Mon, Oct 22, 2018 05:36am - 5 years View Original


KUALA LUMPUR (Oct 22): The FBM KLCI is expected to start the week on a muted note today, in line with the weaker close at most global markets last Friday.

Stocks dipped on Friday, dragging a global index into a fourth consecutive weekly loss, while the euro and sterling rallied against the dollar after a report said Britain is ready to drop a key Brexit demand, according to Reuters.

Oil prices rose on signs of surging demand in China, although prices fell for a second week running as U.S. inventories swelled, it said.

The Dow Jones Industrial Average rose 64.89 points, or 0.26 percent, to 25,444.34, the S&P 500 lost 1 point, or 0.04 percent, to 2,767.78 and the Nasdaq Composite dropped 36.11 points, or 0.48 percent, to 7,449.03, said Reuters.

Based on corporate announcements and news flow last Friday, stocks in focus today may include Datasonic Group Bhd, My EG Services Bhd, CIMB Group Holdings Bhd, DutaLand Bhd, British American Tobacco (Malaysia) Bhd, Gadang Holdings Bhd and Vortex Consolidated Bhd.

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