Friday 19 Apr 2024
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KUALA LUMPUR (June 5): The FBM KLCI is expected to climb higher today and move above 1,780-point level, albeit cautiously, as global markets come to grips with the latest terror attacks in London over the weekend.

The dollar fell to seven-month lows on Friday after data showed the U.S. economy created fewer jobs than expected in May, but equity investors took the news in stride and pushed leading American, British and German stock indexes to record highs, according to Reuters.

U.S. job creation slowed last month and employment gains in the prior two months were revised lower, suggesting the labor market was losing momentum despite the unemployment rate falling to a 16-year low of 4.3 percent, it said.

The Dow Jones Industrial Average rose 62.11 points, or 0.29 percent, to close at 21,206.29. The S&P 500 gained 9.01 points, or 0.37 percent, to 2,439.07 and the Nasdaq Composite added 58.97 points, or 0.94 percent, to 6,305.80, said Reuters.

Meanwhile, Prime Minister Theresa May said Britain had to be tougher in stamping out Islamist extremism after attackers killed at least seven people by ramming a van into pedestrians on London Bridge and stabbing revellers in nearby bars.

After the third militant attack in Britain in less than three months, May said Thursday's national election would go ahead. But she proposed regulating cyberspace and said Britain had been far too tolerant of extremism, said Reuters.

Based on corporate announcements and news flow last Friday, companies that will be in focus today may include: Stone Master Corp Bhd, Wintoni Group Bhd, HIL Industries Bhd, MISC Bhd, RHB Bank Bhd and AMMB Holdings Bhd.

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