KUALA LUMPUR (June 22): The FBM KLCI is expected to remain under pressure today in line with the overnight fall at most global markets, and stay below the 1,700-point level.
Stocks around the world fell on Thursday and the U.S. dollar slipped from a peak as investors flocked to bonds on worries about a U.S.-China trade war, according to Reuters.
A weaker-than-expected U.S. economic indicator also hit confidence, it said.
The Dow Jones Industrial Average fell 196.1 points, or 0.8 percent, to 24,461.7, the S&P 500 lost 17.56 points, or 0.63 percent, to 2,749.76 and the Nasdaq Composite dropped 68.56 points, or 0.88 percent, to 7,712.95, said Reuters.
Meanwhile, the European Commission on Wednesday said the Union will start charging import duties of 25 percent on a range of U.S. products from Friday after Washington imposed tariffs on EU steel and aluminium at the start of June.
Based on corporate announcements and news flow yesterday, companies in focus today may include the following: Jag Bhd, Berjaya Food Bhd, Sapura Energy Bhd, XOX Bhd, Aeon Credit Service (M) Bhd and Multi-Usage Holdings Bhd.