Possible Consolidation Of Activities Today

On Friday, the benchmark index slipped 0.37% or 5.52 points to end at1,496.03 with losers led by PETDAG, MISC and TENAGA

Possible Consolidation Of Activities Today

The FBM KLCI continued with its decline as it closed below the 1,500 mark. For today, but analysts reckon the index will possibly consolidate within the 1,490-1,500 range today.

Meanwhile, crude palm oil continues with its uptrend as it ends above the RM4,000 level at RM4,070/tonne tracking the upswing in soya oil price.

"If this continue, we expect buying interests on Plantation stocks to emerge as the prevailing weak Ringgit is also a catalyst for crude palm oil price," says Rakuten Trade.

FBM KLCI closed marginally lower following the negative cues from global markets on Friday. The benchmark index slipped 0.37% or 5.52 points to end at
1,496.03 with losers led by PETDAG, MISC and TENAGA.

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Market breadth was mixed with 464 losers against 323 gainers while 410 were unchanged. Total volume stood at 2.19bn shares valued at RM1.33bn.

Foreign Markets

In foreign markets, Wall Street closed on a mixed note as all 3 major indices ended off their day’s high as worries over hike in interest rate resurfaced.

The DJI Average gained 29 points while the Nasdaq declined by 13 points as the
US 10-year yield weakened to 2.75%.

Key regional markets ended mixed yesterday. Nikkei 225 and SHCOMP gained 0.26% and 0.31% to end at 28,249.24 and 3,236.93 respectively. HSI and STI lost
0.77% and 0.36% to close at 20,045.77 and 3,270.98 respectively.

Wall Street ended mixed yesterday. The DJIA gained 0.09% to end at 32,8832.54. Meanwhile S&P500 and Nasdaq lost 0.12% and 0.10% to close at 4,140.06 and
12,644.46 respectively.