Friday 29 Mar 2024
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KUALA LUMPUR (Oct 19): The FBM KLCI is seen trading range bound,with immediate hurdle at 1,740 points today following the overnight fall at most global markets as well as the unveiling of the 11th Malaysia Plan mid-term review.

Stocks fell sharply on Thursday while the Japanese yen rose in a move toward safety assets, with traders citing the Sino-U.S. trade war, Italy's budget concerns and a widening gap between the United States and Saudi Arabia, according to Reuters.

European stocks closed near the day's lows and Wall Street slid after the European Commission said Italy's 2019 budget draft is in "particularly serious" breach of EU budget rules, a step that prepares the ground for what would be an unprecedented rejection of a member state's fiscal plan, it said.

The Dow Jones Industrial Average fell 327.23 points, or 1.27 percent, to 25,379.45, the S&P 500 lost 40.43 points, or 1.44 percent, to 2,768.78 and the Nasdaq Composite dropped 157.56 points, or 2.06 percent, to 7,485.14, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include Gabungan AQRS Bhd, PUC Bhd, Country Heights Holdings Bhd, Maxis Bhd, JAKS Resources Bhd and Bioalpha Holdings Bhd.

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