Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (May 25): The FBM KLCI is expected to cling on to its gains today and remain above the 1,770-point level, in line with the overnight gains at Wall Street.

U.S. Treasury yields fell to session lows on Wednesday after Federal Reserve minutes signaled a gradual approach to interest rate hikes, and oil pulled back on a draw of U.S. gasoline stock that was smaller than expected, according to Reuters.

While the yield curve flattened, Wall Street remained slightly higher and the dollar slipped after minutes from the Fed's May 2-3 meeting indicated it would gradually raise interest rates and reduce its bond reinvestment, it said.

The Dow Jones Industrial Average rose 49.84 points, or 0.24 percent, to 20,987.75, the S&P 500 gained 2.91 points, or 0.12 percent, to 2,401.33 and the Nasdaq Composite added 15.31 points, or 0.25 percent, to 6,154.02, said Reuters.

Based on corporate announcements and news flow today, stocks in focus today may include: DRB-Hicom Bhd, Petronas Dagangan Bhd, Sentoria Group Bhd, Sarawak Cable Bhd, FIMA Corp Bhd, EITA Resources Bhd, UOA REIT, Hengyuan Refining Company Bhd, CIMB Group Holdings Bhd, DKSH Holdings (M) Bhd, MBM Resources Bhd, Malaysia Building Society Bhd, Parkson Holdings Bhd, Hap Seng Plantations Bhd, Sunsuria Bhd and TH Plantations Bhd.

      Print
      Text Size
      Share