Thursday 28 Mar 2024
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KUALA LUMPUR (Aug 21): Malaysian shares may continue to take cue from local corporate earnings as China-US trade sentiment and Turkey's geopolitical and economic concerns dictate financial markets' direction.

In Malaysia, investors may closely watch today share prices of companies that had this month (August) reported their earnings for the April-to-June quarter. Yesterday, these companies included United Plantations Bhd and KLCI-linked Petronas Dagangan Bhd. 

Today, investors may also closely watch Bank Negara Malaysia's (BNM) scheduled announcement on the amount of its international reserves as at Aug 15. On Aug 7, BNM said its international reserves amounted to US$104.5 billion as at July 31.

Today, TA Securities Holdings Bhd said in a note: "Even as stocks edge higher, underlying caution over Turkey's fragile geopolitical and economic outlook, and uncertainties over the upcoming US-China trade talks should keep buyers in check."

At Bursa Malaysia yesterday, the FBM KLCI closed 4.11 points higher at 1,787.58. The ringgit was traded at 4.1005 against the US dollar. 

Tomorrow (Aug 22), Malaysian markets will be closed for the Hari Raya Haji holiday. Trading resumes on Thursday (Aug 23). 

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