Thursday 28 Mar 2024
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KUALA LUMPUR (Aug 1): The FBM KLCI is expected to remain lacklustre today and stay below the 1,770-point level, as sentiment at the local bourse remains tepid.

Retreating U.S. technology shares and soft European markets capped world equity gains on Monday, while the U.S. dollar fell to its lowest level in over a year against a basket of major currencies, according to Reuters.

European shares initially gained on a boost from HSBC, as Europe's biggest bank unveiled a 5-percent rise in half-year profits and a third share buyback in a year. But they later retreated amid weakness in tobacco stocks and some broker downgrades, it said.

The Dow Jones Industrial Average rose 60.88 points, or 0.28 percent, to 21,891.19, the S&P 500 lost 1.74 points, or 0.07 percent, to 2,470.36 and the Nasdaq Composite dropped 26.55 points, or 0.42 percent, to 6,348.12. Both the Dow and S&P 500 rose for the fourth straight month, according to Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include: Lotte Chemical Titan Holdings Bhd, Mudajaya Group Bhd, Texchem Resources Bhd, Palette Multimedia Bhd, Berjaya Corp Bhd, United Plantations Bhd, ManagePay Systems Bhd and WMG Holdings Bhd.

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