Friday 29 Mar 2024
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KUALA LUMPUR (May 24): The FBM KLCI is expected to recoup some of its losses today, on some mild bargain hunting actitivities in line with the overnight recovery at most global markets.

On Wednesday, the FBM KLCI slumped 2.26% as market breadth turned negative with losers thumping gainers by 671 to 230, while 464 counters traded unchanged.

Global stock markets pared losses and the dollar cut gains on Wednesday after the release of minutes from the U.S. Federal Reserve's May 1-2 meeting amid heightened concerns that setbacks to U.S.-China trade talks would undermine world economic growth.

U.S. President Donald Trump said trade discussions with China would need to be rerouted, saying the current track appeared "too hard to get done" and any agreement reached between the world's two largest economies needed "a different structure."

The Dow Jones Industrial Average rose 52.4 points, or 0.21 percent, to 24,886.81, the S&P 500 gained 8.85 points, or 0.32 percent, to 2,733.29 and the Nasdaq Composite added 47.50 points, or 0.64 percent, to 7,425.96.

Based on corporate announcements and news flow yesterday, stocks in focus today may include the following: Boustead Plantations Bhd, DBE Gurney Resources Bhd, Kenanga Investment Bank Bhd, Freight Management Holdings Bhd, Axiata Group Bhd, Sunway Construction Group Bhd, TSH Resources Bhd, Sarawak Oil Palms Bhd, MBM Resources Bhd, Khee San Bhd, Jaya Tiasa Holdings Bhd, Perak Corp Bhd and Malakoff Corp Bhd.

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