=MARKET BUZZ: Malaysia's KLCI Likely Lower Tracking US; 1750-1776 Band Tipped
KUALA LUMPUR (Jun 14) -- Malaysia's KLCI likely to open lower tracking overnight losses in U.S. shares; index ended little changed at 1763.57 yesterday. Dow Jones off 0.5% yesterday after Fed raised rates for the second time in 2018, as expected, but signaled more aggressive plan to tighten monetary policy this year. Brent crude rose 1.1% to $76.74 a barrel on bigger-than-expected decline in U.S. crude supplies. Bursa Malaysia shut in the afternoon today and on Friday for Hari Raya holiday. "Blue chips are likely to trend lower following the more hawkish tone by the U.S. Federal Reserve and guidance for two more rate hikes for the year," says TA Securities in investor note. "Trading activities will be tepid today ahead of the long weekend," says remisier at local brokerage; tips index in 1750-1776 band for the day.
- By Chong Sin Hao; Dave.Chong@nikkeinewsrise.com; +60320267363
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