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KLCI set to open lower, hurdle at 1,730

TheEdge Tue, Oct 23, 2018 06:29am - 1 year ago

KUALA LUMPUR (Oct 23): The FBM KLCI looks set to open lower in line with the weaker overnight close at most global markets, with immediate hurdle at 1,730 points.

U.S. stocks were slightly lower in choppy trade on Monday while the dollar strengthened and the U.S. yield curve flattened after European equities reversed earlier gains to close lower, according to Reuters.

U.S. futures had pointed to gains, but the major indexes turned negative soon after Wall Street opened and then oscillated throughout the morning. Asian stocks rose after China promised to stabilize its economy and offset the impact of U.S. tariffs, it said.

The Dow Jones Industrial Average fell 181.01 points, or 0.71 percent, to 25,263.33, the S&P 500 lost 13.55 points, or 0.49 percent, to 2,754.23 and the Nasdaq Composite added 15.13 points, or 0.2 percent, to 7,464.15, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include Axis Real Estate Investment Trust, Yinson Holdings Bhd, Fiamma Holdings Bhd, Dolphin International Bhd, Bumi Armada Bhd and My E.G. Services Bhd.

Related Stocks

ARMADA 0.225
AXREIT 2.080
FIAMMA 0.510
MYEG 1.460
YINSON 6.010


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