Thursday 28 Mar 2024
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KUALA LUMPUR (Feb 15): The FBM KLCI is expected to end the final trading session today before the Lunar New Year holidays, riding on the back of Malaysia’s economic expansion at a three-year high of 5.9% in 2017.

Sentiment may also get a boost from the higher overnight close at Wall Street.

Treasury prices fell on Wednesday after a spike in U.S. consumer prices in January raised expectations the Federal Reserve may quicken the pace of interest rate hikes, while global stocks rose as investors took a longer view of inflation, according to Reuters.

The U.S. dollar surrendered gains against a basket of major world currencies after the Labor Department said its Consumer Price Index increased 0.5 percent. Gold rebounded from losses as stock markets swung higher and the dollar swooned, it said.

The Dow Jones Industrial Average rose 205.55 points, or 0.83 percent, to 24,846. The S&P 500 gained 31.46 points, or 1.18 percent, to 2,694.4 and the Nasdaq Composite added 117.72 points, or 1.68 percent, to 7,131.23, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include: AirAsia Bhd, Luxchem Corp Bhd, Carlsberg Brewery Malaysia Bhd, Heineken Malaysia Bhd, Serba Dinamik Holdings Bhd, Supermax Corp Bhd, Yinson Holdings Bhd, TRIplc Bhd, Hibiscus Petroleum Bhd, Kumpulan Perangsang Selangor Bhd, Dialog Group Bhd and Protasco Bhd.

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