Rakuten Trade says the Telco sector in Malaysia remains plagued by outstanding uncertainties over the sale of stake in Digital Nasional Bhd.
Meanwhile, the Telco sector remains plagued by outstanding uncertainties over the sale of stake in Digital Nasional Bhd but we believe this should be resolved soon. Therefore, we expect the index to trend within the 1,485-1,505 range today.
On the other hand, the FBM KLCI closed marginally lower supported by some late buying from foreign funds. As reports on GE15 are getting louder by the day, we reckon interests should shift back to the Construction sector.
FBM KLCI closed marginally lower last Friday. The benchmark index slipped 0.05% or 0.77 points to end at 1,491.18 with losers led by HLFG, PMETAL and HLBANK. Market breadth was negative with 475 losers against 315 gainers. Total volume stood at 2.18bn shares valued at RM1.57bn.
Wall Street Dominated By Sentiments
Sentiment on Wall Street continued to be nervous despite recent solid job data as traders remained cautious over the Federal Reserves’ stance on interest rate this month. As a result, the DJI Average declined 338 points while the Nasdaq lost 154 points.
Wall Street ended lower. The DJIA and S&P500 both slumped 1.07% to end at 31,318.44 and 3,924.26 respectively. Nasdaq slipped 1.31% to close at 11,630.86.
Key regional markets closed mixed last Friday. Nikkei 225 and STI lost 0.04% and 0.57% to end at 27,650.84 and 3,205.69 respectively. HSI fell by 0.74% to end at 19,452.09. Meanwhile SHCOMP gained 0.05% to close at 3,186.48.