Friday 29 Mar 2024
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KUALA LUMPUR (Sept 28): The FBM KLCI is expected to defend its crucial 1,600-point level today after the most global equity markets advanced last Friday.

The only possible blip on global equity markets’ sentiment would likely be the threat of another government shutdown in the US unless a deal is hammered out before the deadline on Sept 30.

World equity markets and the dollar advanced on Friday to end a rocky week on an upbeat note after Federal Reserve Chair Janet Yellen said the Fed was on track to raise interest rates this year, and as US economic growth was revised upward again, according to Reuters.

Stocks on Wall Street initially jumped following an almost 3% surge in Europe, after a report showed the US economy grew more than previously estimated in the second quarter, propelled by consumer spending and construction — the second upward revision in a row, it said.

The FBM KLCI may find some support from select blue chips and could advance on further bargain hunting.

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