KLCI likely to remain muted ahead of Hari Raya break

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KUALA LUMPUR (June 14): The FBM KLCI is likely to remain muted today ahead of the Hari Raya Aidilfitri holiday as Bursa Malaysia officially closes after the morning session.

U.S. Treasury yields jumped and Wall Street reversed earlier gains to close lower on Wednesday, after the Federal Reserve raised interest rates and signaled that two more hikes could be coming this year, according to Reuters.

Ten-year U.S. Treasury note yields hit a one-week high, while two-year note yields rose to a three-week peak after the Fed's decision to raise its benchmark overnight lending rate a quarter of a percentage point, to a range between 1.75 percent and 2 percent, it said.

The Dow Jones Industrial Average fell 119.53 points, or 0.47 percent, to 25,201.2, the S&P 500 lost 11.22 points, or 0.40 percent, to 2,775.63 and the Nasdaq Composite dropped 8.10 points, or 0.11 percent, to 7,695.70, said Reuters.

Based on corporate announcements and news flow yesterday, companies in focus today may include: Supermax Corp Bhd, E.A. Technique (M) Bhd, Enra Group Bhd, Petra Energy Bhd, GFM Services Bhd, Mega First Corp Bhd and Gas Malaysia Bhd.