KLCI to trade range bound in line with global trends, stay below 1,700-level

TheEdge Wed, Dec 12, 2018 05:44am - 3 years View Original


KUALA LUMPUR (Dec 12): The FBM KLCI is expected to trade range bound today, in line with global trends but remain firmly below the 1,700-point level.

A gauge of global stock markets rose in volatile trade on Tuesday following threats by U.S. President Donald Trump to shut down the government over a funding fight, though stocks in Europe advanced on signs of a thaw in the U.S.-China trade battle, according to Reuters.

European shares closed higher, in part from a boost in auto shares, and Wall Street clawed higher after a report that China is moving to cut import tariffs on American-made cars, which market participants viewed as a sign China is ready to make concessions on trade, it said.

The Dow Jones Industrial Average rose 58.76 points, or 0.24 percent, to 24,482.02, the S&P 500 gained 9.81 points, or 0.37 percent, to 2,647.53 and the Nasdaq Composite added 33.29 points, or 0.47 percent, to 7,053.81, said Reuters.

Based on corporate announcements and news yesterday, stocks in focus for today may include: LB Aluminium Bhd, Alam Maritim Resources Bhd, Scicom (MSC) Bhd, Manforce Group Bhd, Vortex Consolidated Bhd, AirAsia Group Bhd, AirAsia X Bhd and Malaysia Airports Holdings Bhd.

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