Friday 29 Mar 2024
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KUALA LUMPUR (Oct 15): The FBM KLCI is seen holding on to its gains today, in line with the rebound at most global markets last Friday, with support seen at the 1,730-point level.

Local investors’ eyes will also be on the expected swearing-in of Datuk Seri Anwar Ibrahim as MP for Port Dickson following his victory in teh by-election over the weekend.

Stock markets worldwide bounced back on Friday after a multi-day selloff that left the equity markets on track for their biggest weekly losses in months, while U.S. Treasury yields moved higher and the dollar held its gains, according to Reuters.

Wall Street surged after the U.S. stock market's worst two days of losses since February, with the technology sector moving towards its best day in seven months after being hammered earlier in the week, it said.

The Dow Jones Industrial Average climbed 294.13 points, or 1.17 percent, to 25,346.96, the S&P 500 gained 41.12 points, or 1.51 percent, to 2,769.49 and the Nasdaq Composite added 161.90 points, or 2.21 percent, to 7,490.96, said Reuters.

Based on corporate announcements and news flow last Friday, stocks in focus today may include OSK Holdings Bhd, FGV Holdings Bhd, Hibiscus Petroleum Bhd, Alam Maritim Resources Bhd, Muda Holdings Bhd, Vertice Bhd and MyEG Services Bhd.

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