Thursday 28 Mar 2024
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KUALA LUMPUR (Dec 28): Malaysian stocks are seen extending their gains on the penultimate trading day of 2017 today in line with the overnight advance at most global markets.

Oil and gas-related stocks will likely remain in focus as Brent Crude oil prices stayed above US$65 a barrel, as per energy portal Oilprice.com.  

World stocks edged higher on Wednesday as a strong rally in copper buoyed expectations for a strong year for the global economy in 2018 and helped mitigate concerns over the technology sector triggered by reports of soft iPhone X demand, according to Reuters.

Copper prices rocketed to multi-year highs, pushing the MSCI world equity index, which tracks shares in 47 countries, up 0.30 percent. The metal, used in construction and machinery, is seen as a proxy for global growth, it said.

The Dow Jones Industrial Average rose 35.67 points, or 0.14 percent, to 24,781.88, the S&P 500 gained 4.36 points, or 0.16 percent, to 2,684.86 and the Nasdaq Composite added 17.61 points, or 0.25 percent, to 6,953.86, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include: REDtone International Bhd, Yinson Holdings Bhd, Muhibbah Engineering (M) Bhd, Selangor Properties Bhd and Hua Yang Bhd.

 

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