Sunday 05 May 2024
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KUALA LUMPUR (May 9): The FBM KLCI is expected to trade range bound today in line with most global markets, as local investors were spared any shockwaves in the aftermath of the French presidential elections unlike that in the US or the Brexit referendum.

Stocks were little changed on Monday and the euro fell from a six-month high hit after pro-EU centrist Emmanuel Macron's victory in France's presidential election, as traders cashed in recent gains, according to Reuters.

French shares underperformed other European markets after having hit on Friday their highest in more than 9 years, it said.

On Wall Street, the S&P 500 ended at a fresh record high after edging up less than a point at the close. The CBOE Volatility Index closed at 9.77, its lowest since December 1993.

The Dow Jones Industrial Average rose 5.34 points, or 0.03 percent, to end at 21,012.28, the S&P 500 gained 0.09 point to 2,399.38 and the Nasdaq Composite added 1.90 points, or 0.03 percent, to 6,102.66, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include: Media Prima Bhd, Tien Wah Press Holdings Bhd, PanPages Bhd, ManagePay Systems Bhd, Tenaga Nasional Bhd, Texchem Resources Bhd, Censof Holdings Bhd, Kimlun Corp Bhd, Key ASIC Bhd, MK Land Holdings Bhd and Hovid Bhd.

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