19Feb

FBM KLCI is expected to extend its gains today

The FBM KLCI is expected to extend its gains on resuming trade today in line with the close at most global markets last Friday after the extended weekend to celeberate the Lunar New Year.

The ringgit is also likely to be in focus today after it firmed up 0.57% in pre-holiday trade last Thursday and was quoted at 3.8942 to the greenback.The dollar rose and stocks around the globe rallied for a sixth straight session on Friday to post their best week in more than two years, but a U.S. indictment over alleged Russian meddling in the 2016 presidential election cooled gains on Wall Street, according to Reuters.

fbmklci

The 37-page indictment of a Russian internet agency filed by Special Counsel Robert Mueller described a conspiracy with the aim of supporting Donald Trump and sowing discord in the U.S. political system, it said.On Wall Street, the Dow Jones Industrial Average closed up 19.01 points, or 0.08 percent, to 25,219.38. The S&P 500 gained 1.02 points, or 0.04 percent, to 2,732.22 and the Nasdaq Composite dropped 16.97 points, or 0.23 percent, to 7,239.47, said Reuters.

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