KLCI seen under pressure, to track global markets

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KUALA LUMPUR (Sept 7): The FBM KLCI seen under pressure today, in line with the overnight decline at most global markets.

Broader sentiment at the local market stayed negative on Thursday with sellers leading buyers by 553 to 297, while 1,022 counters traded unchanged. Volume was 1.98 billion shares valued at RM1.89 billion.

Stock markets around the world declined on Thursday and emerging market stocks fell for the sixth day as investors shied away from risk and braced for an escalation in a trade conflict between the United States and China, according to Reuters.

The dollar edged lower ahead of Friday’s highly anticipated U.S. jobs report for August and also came under pressure as investors worried about trade tensions sought safety in Japan's yen and the Swiss franc, it said.

The Dow Jones Industrial Average rose 20.88 points, or 0.08 percent, to 25,995.87, the S&P 500 lost 10.55 points, or 0.37 percent, to 2,878.05 and the Nasdaq Composite dropped 72.45 points, or 0.91 percent, to 7,922.73, said Reuters.

Based on corporate announcements and news flow yesterday, companies that may be in focus today may include the following: Priceworth International Bhd, TFP Solutions Bhd, Tenaga Nasional Bhd, FGV Holdings Bhd, Alam Maritim Resources Bhd, MMC Corp Bhd, iDimension Consolidated Bhd, Eduspec Holdings Bhd, RCE Capital Bhd and EA Holdings Bhd.