KLCI to remain pressured, stay below 1,730 resistance level

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KUALA LUMPUR (Dec 7): The FBM KLCI is expected to remain pressured today and stay below its resistance level of 1,730-points, in line with overnight fall at most global markets.

The local benchmark index has stayed weaker than it usually does in December during which year end window dressing lifts the index, as sentiment has been tepid.

A gauge of global stocks fell on Wednesday and benchmark government bond yields declined as investors weighed signs of risk in the markets and with U.S. policy, according to Reuters.

MSCI's gauge of stocks across the globe shed 0.42 percent, while Wall Street's main indexes were little changed in choppy trading. Oil prices sank to two-week lows, it said.

The Dow Jones Industrial Average rose 6.06 points, or 0.03 percent, to 24,186.7, the S&P 500 gained 0.51 points, or 0.02 percent, to 2,630.08 and the Nasdaq Composite added 3.40 points, or 0.05 percent, to 6,765.62, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include: Astro Malaysia Holdings Bhd, Scientex Bhd, Sapura Resources Bhd, Ranhill Holdings Bhd, 7-Eleven Malaysia Holdings Bhd, My E.G. Services Bhd, Acoustech Bhd, Nexgram Holdings Bhd, HCK Capital Group Bhd, Ajinomoto (Malaysia) Bhd, GD Express Carrier Bhd and Halex Holdings Bhd.