KUALA LUMPUR (July 24): The FBM KLCI is seen trending sideways today in line with the mixed overnight close at most global markets, with immediate support seen at 1,740.
Fear that U.S. and Japanese policymakers will scale back economic stimulus sent quivers through debt markets on Monday, while U.S. stocks gained ahead of major company earnings reports, according to Reuters.
Bond yields climbed as investors forecast the Federal Reserve will continue raising interest rates due to stronger growth and inflation pressures despite U.S. President Donald Trump's criticism and after a Reuters report that the Bank of Japan (BoJ) is discussing modifying its huge stimulus program sent Japan's 10-year bond yield soaring near six-month highs, it said.
The Dow Jones Industrial Average fell 13.83 points, or 0.06 percent, to 25,044.29, the S&P 500 gained 5.15 points, or 0.18 percent, to 2,806.98 and the Nasdaq Composite added 21.68 points, or 0.28 percent, to 7,841.87, said Reuters.
Based on corporate announcements and news flow yesterday, companies that may be in focus today include the following: Sime Darby Property Bhd, Kwantas Corp Bhd, CN Asia Corp Bhd, IJM Land Bhd, Bumi Armada Bhd, Telekom Malaysia Bhd, Tenaga Nasional Bhd, Cycle & Carriage Bintang Bhd, JAKS Resources Bhd, IHH Healthcare Bhd and Malaysia Airports Holdings Bhd.