KLCI to trend range bound, end November slightly above 1,700-level

KLCI to trend range bound, end November slightly above 1,700-level
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KUALA LUMPUR (Nov 30): The FBM KLCI is seen trending range bound today and hover around the 1,700-level today, in line with global markets.

The local index could make a final push today to end November slightly above the 1,700-point mark, with index-linked financial services sector stocks providing the boost.

The FBM KLCI has so far dropped just 12 points month-on-month in November.

Wall Street turned positive on Thursday after the U.S. Federal Reserve released minutes of its latest policy meeting, while the dollar rose and Treasury yields softened after investors digested recent comments by Fed Chair Jerome Powell, according to Reuters.

World stocks were higher, but it was a mid-day recovery for U.S. stocks, which had sunk amid jitters over U.S.-China trade talks, it said.

The Dow Jones Industrial Average rose 98.22 points, or 0.39 percent, to 25,464.65, the S&P 500 gained 8.26 points, or 0.30 percent, to 2,752.05 and the Nasdaq Composite added 23.33 points, or 0.32 percent, to 7,314.93, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include: AirAsia Group Bhd, DRB-Hicom Bhd, Cahya Mata Sarawak Bhd, Padini Holdings Bhd, GHL Systems Bhd, Utusan Melayu Bhd, Genting Plantations Bhd, Malayan Banking Bhd, CIMB Group Holdings Bhd, IHH Heathcare Bhd, Sapura Energy Bhd, Malaysia Airport Holdings Bhd and Kumpulan Perangsang Selangor Bhd.