KLCI seen starting lacklustre in line with global markets, hurdle at 1,720

KLCI seen starting lacklustre in line with global markets, hurdle at 1,720
-A +A

KUALA LUMPUR (Feb 28): The FBM KLCI is seen starting on a lacklustre note today in line with the weaker overnight close at most global markets, with immediate hurdle at the 1,720-point level.

Global stock indexes ended with mostly slight losses on Wednesday after U.S. Trade Representative Robert Lighthizer said it was too early to predict an outcome in U.S.-China trade talks, although a jump in oil prices lifted shares of energy companies, according to Reuters.

Lighthizer also told a congressional hearing that U.S. issues with China were "too serious" to be resolved with promises from Beijing, it said.

The Dow Jones Industrial Average fell 72.82 points, or 0.28 percent, to 25,985.16, the S&P 500 lost 1.52 points, or 0.05 percent, to 2,792.38 and the Nasdaq Composite added 5.21 points, or 0.07 percent, to 7,554.51, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include: MAA Group Bhd, AirAsia Bhd, Genting Malaysia Bhd, Genting Bhd, Pos Malaysia Bhd, Hengyuan Refining Co Bhd, UMW Holdings Bhd, Sime Darby Property Bhd, TH Heavy Engineering Bhd, IHH Healthcare Bhd, MMC Corp Bhd, Serba Dinamik Holdings Bhd and YTL Corp Bhd.