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KLCI to stay down for fourth day, stay below 1,700-level

TheEdge Fri, Dec 07, 2018 - 2 months ago

KUALA LUMPUR (Dec 7): Mounting worries over the US-Sino trade conflict and slowing global growth could push the FBM KLCI down for a fourthd ay running and keep the index below the psychologically crucial 1,700-level.

Stock markets around world slid on Thursday as the arrest of a top Chinese technology executive cast further shadows on U.S.-China trade relations, while oil prices sank after OPEC delayed an output decision, according to Reuters.

The arrest of smartphone maker Huawei Technologies Co. Chief Financial Officer Meng Wanzhou in Canada for extradition to the United States came as Washington and Beijing prepared for talks aimed at resolving a bitter trade spat, it said.

The Dow Jones Industrial Average fell 351.2 points, or 1.4 percent, to 24,675.87, the S&P 500 lost 34.86 points, or 1.29 percent, to 2,665.2 and the Nasdaq Composite dropped 44.40 points, or 0.62 percent, to 7,114.03, said Reuters.

Based on corporate announcements and news flows yesterday, stocks in  focus today may include: AirAsia Group Bhd, Gamuda Bhd, Sapura Energy Bhd, GD Express Carrier Bhd, Perak Transit Bhd, Telekom Malaysia Bhd, KLCCP Stapled Group, AMMB Holdings Bhd, Top Glove Corp Bhd, UEM Sunrise Bhd, Perodua Bhd, China Automobile Parts Holdings Ltd, Computer Forms (Malaysia) Bhd and SMRT Holdings Bhd.


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