Saturday 04 May 2024
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KUALA LUMPUR (March 16): Stocks on Bursa Malaysia are likely to drift sideways today in line with the overnight dip at most global markets, with the psychological 1,700-point level remaining the immediate hurdle for the local index.

Stocks in major markets fell on Tuesday after the Bank of Japan painted a bleaker picture of the world's third-largest economy and as US retail sales data brought down expectations of a strong first quarter, according to Reuters.

The yen rose sharply against the US dollar, crude oil dropped and emerging market shares fell the most in more than a month, it said.

The FBM KLCI struggled on Tuesday to sustain its gains and slipped below the crucial 1,700-point level that is seen as the index's immediate hurdle.

With no fresh domestic catalysts and less-than-encouraging external news flow, investor sentiment at Bursa Malaysia may be dampened.

Based on corporate announcements and news flow yesterday, companies that may be in focus today could include the following: TSR Capital Bhd, TRC Synergy Bhd, Yong Tai Bhd, Efficient E-Solutions Bhd, Nexgram Holdings Bhd, Wintoni Group Bhd and LBI Capital Bhd.

 

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