KLCI seen moving sideways, resistance at 1,650

KUALA LUMPUR (March 29): The FBM KLCI is seen moving sideways today, tracking the higher overnight close at most global markets, with resistance seen at the 1,650-level.

Benchmark U.S. and European bond yields moved higher on Thursday after prolonged slides, while gains on Wall Street countered declines in other world stock markets as investors eyed U.S.-China trade talks and economic growth, according to Reuters.

While the U.S. dollar firmed against a basket of key currencies, the Turkish lira plunged as liquidity returned to the London foreign-exchange market, prompting President Tayyip Erdogan to blame the currency’s weakness on attacks by the West, it said.

The Dow Jones Industrial Average rose 91.87 points, or 0.36 percent, to 25,717.46, the S&P 500 gained 10.07 points, or 0.36 percent, to 2,815.44 and the Nasdaq Composite added 25.79 points, or 0.34 percent, to 7,669.17, said Reuters.

Based on corporate announcements and news flow yesterday, companies that may be in focus today could include the following: Gamuda Bhd, Eco World Development Group Bhd, Eco World International Bhd, Boustead Heavy Industries Corp Bhd, Mah Sing Group Bhd, Berjaya Corp Bhd, Kenanga Investment Bank Bhd, CIMB Bank Bhd, Berjaya Assets Bhd and Malaysian Resources Corp Bhd.

Source : TheEdgeMarkets