Thursday 28 Mar 2024
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KUALA LUMPUR (Sept 25): The FBM KLCI is expected to drift lower today, tracking the overnight losses at most global markets as worries of a protracted trade spat between China and the United States (US) is likely to weigh on investor sentiment.

However, some window dressing activities in the final trading week of the third quarter may lend support to the local index.

Stock markets around the world retreated on Monday amid concerns over the potential wider impact of a trade spat between China and the US, while oil prices rallied to a four-year high after OPEC ignored U.S. calls to raise supply, according to Reuters.

Wall Street equities also stumbled on a wave of uncertainty over the future of U.S. Deputy Attorney General Rod Rosenstein, who oversees the special counsel investigation into Russia's role in the 2016 presidential election, it said.

The Dow Jones Industrial Average fell 181.45 points, or 0.68 percent, to 26,562.05, the S&P 500 lost 10.3 points, or 0.35 percent, to 2,919.37, and the Nasdaq Composite added 6.29 points, or 0.08 percent, to 7,993.25, said Reuters.

Based on corporate announcements and news flow yesterday, companies in focus today may include: CIMB, Bina Puri, Heng Huat, Bintai Kinden, Mynews, MLabs, Yinson, Berjaya Media and Parkson Holdings.

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