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Nikkei Markets

MARKET BUZZ: Malaysia KLCI Likely Flat Before Long Weekend; 1760-1780 Tipped

By Chong Sin Hao
Nikkei Markets
KUALA LUMPUR (Sep 21) -- KLCI likely to open flat as traders unlikely to take positions ahead of long weekend; index down 0.2% at 1773.58 yesterday. Bursa Malaysia shut on Friday for Islamic New Year. Overnight Dow Jones up 0.2%, after Fed kept interest rates unchanged, as expected. US central bank to also begin reducing its $4.5 trillion holdings of government bonds and mortgage-backed securities. Brent crude rose 2.1% to $56.29/barrel on US and Iran tensions and on expectations OPEC Countries will extend production-cut deal. "KLCI is likely to stay quiet today with market participants on the sidelines ahead of a holiday tomorrow and on lack of new leads," says dealer at local brokerage. "There's also no surprise from the Fed meeting," he adds. Tips index between 1760 and 1780 for the day.
- By Chong Sin Hao;; +60320267363
- Edited by Lopamudra Bhattacharya
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- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

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