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KLCI seen ending 1Q on positive note, hold on to YTD gains
30 Mar 2018
Surin Murugiah
The Edge Markets

KUALA LUMPUR (March 30): The FBM KLCI is seen ending the first quarter of 2018 on a positive note and trend higher on the final trading day for the quarter, in line with the firmer overnight close at Wall Street.

Year-to-date, the FBM KLCI has risen more than 59 points, and held above the psychologically crucial 1,800-point level.

Stocks steadied on Thursday, after a woeful week for major technology companies, even as global equities careened towards their first quarterly drop in two years, according to Reuters.

Shares tracked by the 47-country MSCI index glided 0.86 percent higher, with Facebook Inc, Apple Inc and Google parent Alphabet Inc retaking the market's leadership mantle, it said.

Now, the Dow, S&P 500, FTSE, Nikkei and scores of other major indexes are all also down for the year. And there was little place to hide, with U.S. bond returns also in the red for the quarter, it said.

On Thursday, by contrast, the Dow Jones Industrial Average rose 254.69 points, or 1.07 percent, to 24,103.11, the S&P 500 gained 35.87 points, or 1.38 percent, to 2,640.87 and the Nasdaq Composite added 114.22 points, or 1.64 percent, to 7,063.45, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include the following: Eco World Development Group Bhd, Eco World International Bhd, DRB-Hicom Bhd, Pos Malaysia Bhd, Yinson Holdings Bhd, OSK Holdings Bhd, Crescendo Corp Bhd, Berjaya Assets Bhd, Excel Force MSC Bhd, Hiap Teck Venture Bhd, Prestariang Bhd, Sapura Energy Bhd and Farlim Group Bhd.



Source : http://www.theedgemarkets.com/article/klci-seen-ending-1q-positive-note-hold-ytd-gains

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