Be Informed. Be In Profit.


=MARKET BUZZ: Malaysia's KLCI Likely Lower On Profit Taking; 1855 Support Tipped

KUALA LUMPUR (Apr 17) -- Malaysia's KLCI likely to move lower on profit taking; index ended 0.6% higher at 1878.76 yesterday. Overnight Dow Jones up 0.9%, on optimism over first-quarter earnings and as international political tensions eased. Europe stock prices fell. Brent fell 1.6% to $71.42 a barrel on expectations neither Russia nor Iran would retaliate for the strikes. "Stocks should ease into profit-taking consolidation today, save for oil & gas related stocks which could outperform given the lingering geopolitical risks in Syria," says TA Securities in investor note; tips support at 1855. "Key resistance for the index remains the 2 Feb peak of 1880 which should see profit-taking restricting upside," adds house.

- By Chong Sin Hao; Dave.Chong@nikkeinewsrise.com; +60320267363
- Edited by Abhijit Basu
- Send Feedback to feedback@NikkeiNewsRise.com
- Copyright (c) 2018 Nikkei NewsRise Asia Pte Ltd.