Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 18): The FBM KLCI is expected to trend sideways today with immediate hurdle at 1,740, tracking the overnight dip at most global markets.

Sentiment at the domestic market will also be cautious ahead of the tabling of the 11th Malaysia Plan mid-term review later today in Parliament by Prime Minister Tun Dr Mahathir Mohamad,

Oil prices fell on Wednesday after US crude inventories rose by much more than expected and exports fell, while the US dollar added to gains after minutes showed Federal Reserve (Fed) policy makers largely united on the need to raise borrowing costs further, according to Reuters.

A gauge of stocks across the world dipped, tracking Wall Street's reaction to the Fed minutes, while the outlook on earnings soured after a warning on the European auto sector and a revenue miss from IBM, it said.

The Dow Jones Industrial Average fell 91.74 points, or 0.36%, to 25,706.68, the S&P 500 lost 0.71 points, or 0.03%, to 2,809.21 and the Nasdaq Composite dropped 2.79 points, or 0.04%, to 7,642.70, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include Dagang Nexchange Bhd, Kumpulan Perangsang Selangor Bhd, Malaysian Resources Corp Bhd, George Kent (M) Bhd, Gas Malaysia Bhd, Top Glove Corp Bhd, WCT Holdings Bhd and Press Metal Aluminium Holdings Bhd.

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