KUALA LUMPUR (Feb 10): Stocks on Bursa Malaysia are seen resuming trade today after the extended weekend on a lacklustre note in line with the overnight tumble at most global markets.

Stock indexes worldwide tumbled for the third straight session on Tuesday on fears of slowing global growth, with particular concern around the health of the banking sector, while oil prices plunged to multi-week lows, according to Reuters.

The European banking index ended 4 percent lower after sinking 5.6 percent on Monday on fears of worsening bank profitability and capital strength from sustained low interest rates, it said.

AffinHwang IB vice president and head of retail research Datuk Dr Nazri Khan said despite the early outbreak of Zika virus and holiday shortened session, he expects the Bursa FBM KLCI to trend higher this week driven by the positive impact from recalibrated budget 2016, improved ringgit, Chinese New Year festive season, rising oil and growing conviction on absence of Federal Reserve interest rate hikes in the near term.

“We must admit that Bursa Malaysia started 2016 with jittery market sentiment, which saw major sectors tumbling heavily in the early part of January due to Chinese fears of its economy slowing down while Crude oil prices dived briefly below USD30/bbl, the lowest in more than a decade and Ringgit depreciated to a new recent low of 4.50 per USD in mid-Jan.

“We however noted that the decline has stabilised and sentiment has recovered.

Based on corporate newsflow and announcements last Friday, companies that will be in focus next today may include: Mudajaya Group Bhd, Malaysian Resources Corporation Bhd, Ekovest Bhd, Zecon Bhd, Prolexus Bhd, SMRT Holdings Bhd, Mitrajaya Holdings Bhd, CAB Cakaran Corporation Bhd, DiGi.Com Bhd, MISC Bhd and Yong Tai Bhd.