Friday 29 Mar 2024
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KUALA LUMPUR (Sept 3): The FBM KLCI is seen starting September on a cautious note and hover above the 1,790-point level in line with the weaker close last Friday at most global markets on worries of extended global trade conflicts.

Also, September has historically been the trickiest month in the year for Malaysian equity. The market crashes in 2000, 2001, 2003, 2008 and 2011 all occurred in September.

Global stocks ended August much as they began the month — under the dark cloud of a potentially worsening trade, according to Reuters.

A closely watched barometer of equities worldwide fell for a second day on Friday after the United States and Canada failed to reach a trade deal and a report that US President Donald Trump was preparing to step up a trade war with Beijing. The news dampened risk appetite and erased some gains from a rally this week, it said.

On Friday the Dow Jones Industrial Average fell 22.1 points, or 0.09%, to 25,964.82, the S&P 500 gained 0.39 points, or 0.01%, to 2,901.52 and the Nasdaq Composite added 21.17 points, or 0.26%, to 8,109.54, said Reuters.

Based on corporate announcements and news flow last Friday, stocks in focus today may include: Malayan Banking Bhd, RHB Bank Bhd, Alliance Bank Malaysia Bhd, Media Prima Bhd, Utusan Melayu (Malaysia) Bhd, IGB Bhd, AirAsia Group Bhd, DiGi.Com, Lafarge Malaysia Bhd, Petron Malaysia Refining & Marketing Bhd and Sime Darby Bhd.

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