KLCI to trend sideways, stay above 1,870 level

TheEdge Thu, Apr 19, 2018 05:28am - 6 years View Original


KUALA LUMPUR (April 19): The FBM KLCI is expected to trend sideways today and stay above the 1,870-level in line with the mixed overnight close at most global markets.

U.S. stocks ended mixed on Wednesday while most other global shares rose, as investors were drawn to riskier assets because of upbeat earnings from companies in Europe and the United States, according to Reuters.

The U.S. dollar clung to gains amid fading concerns over a global trade war, while oil soared on a reported decline in U.S. crude inventories and the possibility of supply disruptions, it said.

The Dow Jones Industrial Average fell 38.56 points, or 0.16 percent, to 24,748.07, the S&P 500 gained 2.25 points, or 0.08 percent, to 2,708.64 and the Nasdaq Composite added 14.14 points, or 0.19 percent, to 7,295.24, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include the following: Aeon Co (M) Bhd, T7 Global Bhd, Zhulian Corp Bhd, PLB Engineering Bhd, Keck Seng (Malaysia) Bhd, Chemical Co of Malaysia Bhd, Malayan Banking Bhd, MBM Resources Bhd and UMW Holdings Bhd.

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