Thursday 28 Mar 2024
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KUALA LUMPUR (June 11): The FBM KLCI is seen trading range bound today in the first day of a holiday-shortened week, with investor focus to be on the days ahead of the Kim-Trump summit as well as Tun Dr Mahathir Mohamad’s official visit to Japan.

Also likely to weigh on investor sentiment is retreating crude oil prices.

Oil prices fell on Friday as concerns about surging U.S. output and falling demand in China weighed on the contract and JP Morgan cut its price forecast.

The U.S. dollar rose and Treasury yields slipped on Friday on anxiety about a potential global trade war as the leaders of the Group of Seven countries met in Canada, according to Reuters.

U.S. stocks ended higher though thanks mostly to gains in health care and consumer staples stocks, it said.

The Dow Jones Industrial Average rose 75.12 points, or 0.3 percent, to 25,316.53, the S&P 500 gained 8.66 points, or 0.31 percent, to 2,779.03 and the Nasdaq Composite added 10.44 points, or 0.14 percent, to 7,645.51, said Reuters.

Based on corporate announcements and news flow last Friday, companies in focus today may include: Axiata Group Bhd, Dialog Group Bhd, Nova MSC Bhd, Eco World International Bhd, UOA Real Estate Investment Trust, APFT Bhd, Asdion Bhd, Pharmaniaga Bhd, Malaysia Airlines Bhd, Lien Hoe Corp Bhd, MISC Bhd and My EG Services Bhd.

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