=MARKET BUZZ: Malaysia KLCI Likely Lower On Lack Of Fresh Leads, 1655-1694 Tipped
KUALA LUMPUR (Jul 11) -- Malaysia’s KLCI likely to edge lower on opening Thursday as investors, lacking fresh leads, remain cautious. Futures point to a tad lower opening. Benchmark index ended 0.2% lower at 1678.97 Wednesday. Overnight, the S&P 500 gained 0.5% after briefly crossing the 3,000-point mark for the first time. The Nasdaq Composite Index rose 0.8%, while the Dow Jones industrial average added 0.3%. September Brent rose 4.4% to $67.01 a barrel. “Current cautious trading sentiment should persist with domestic investors side-lined,” says TA Securities Research, which expects index to trade between 1655 and 1694 today. Tips buying Globetronics and Inari Amertron as it expects positive technical momentum to support further upside, potentially lifting their stock price to MYR1.92 and MYR1.88 respectively.
- By Gho Chee Yuan; Terence.Gho@nikkeinewsrise.com; +60320267363
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