Stocks on Bursa Malaysia are expected to start off on a cautious note on Aug 17, as investors take their cue from the weaker regional and US markets.
Last Friday, the 30-stock FBM KLCI failed to stay above the key 1,190 level as investors took profit on recent gainers.
PLANTATION [ PLANTATION 6,066.960 123.700 (2.081%) ] stocks managed to hold on to their gains after the recent upgrade by a foreign research house. However, crude palm oil futures closed lower in line with the weaker crude oil prices, and this could prompt some profit taking on plantations.
On Wall Street, US stocks fell broadly on Aug 14 as the major indexes snapped a four-week streak of gains after weak consumer sentiment data fueled concerns about the strength of an economic recovery,
According to Reuters, US stocks could extend last week's retreat after a four-week advance as the earnings season winds down and investors search for signs that consumer spending will help sustain an economic recovery.
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