KLCI likely to extend loss as U.S.-China trade spat continues

TheEdge Tue, Jun 19, 2018 05:52am - 5 years View Original


KUALA LUMPUR (June 19): The FBM KLCI is likely to extend its losses today as the U.S.-China trade spat continues with no immediate solution in sight.

Global stocks ended lower on Monday as investors eyed an escalating trade dispute between the United States and China while oil prices rose on bets that an OPEC production increase would be smaller than expected, according to Reuters.

A jump in energy shares helped limit losses in Wall Street's major indexes, which closed well above session lows, it said.

The Dow Jones Industrial Average fell 103.01 points, or 0.41 percent, to 24,987.47, the S&P 500 lost 5.8 points, or 0.21 percent, to 2,773.87 and the Nasdaq Composite added 0.65 point, or 0.01 percent, to 7,747.03, said Reuters.

Based on corporate announcements and news flow yesterday, companies in focus today may include: Y&G Corp Bhd, XingHe Holdings Bhd, Malaysia Pacific Corporation Bhd, Berjaya Sports Toto Bhd, Priceworth International Bhd and Cahya Mata Sarawak Bhd.

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