KLCI to halt ascend as U.S.-China trade war escalates

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KUALA LUMPUR (July 12): The FBM KLCI’s ascend could be halted today in line with the overnight slide at most global market as the U.S.-China trade war escalates with for tit-for-tat measures.

Concerns about an escalating U.S.-China trade war made markets topsy-turvy on Wednesday, with U.S. stocks breaking a four-session winning streak and Brent crude prices seeing their biggest one-day drop in two years, according to Reuters.

Even so, the U.S. dollar hit a six-month high against the safe-haven Japanese yen as currency traders put trade worries aside and focused on Labor Department data that showed producer prices rising more than expected, it said.

Based on corporate announcements and news flow today, stocks that may draw attention on Thursday (July 12) include: Sentoria Group Bhd, MCE Holdings Bhd, KESM Industries Bhd, Dagang NeXchange Bhd, G3 Global Bhd and Handal Resources Bhd.