KLCI to trade within trade range, attempt to recover 1,720-level

Source: The Edge Markets

KUALA LUMPUR (Nov 21): The FBM KLCI is expected to trade within a tight range today and attempt to recover the 1,720-point level in line with the overnight gains at most global markets.

Global equities rose on Monday as confidence over economic growth around the world helped investors brush off concerns about the collapse of government talks in Germany, which sent the euro lower against the U.S. dollar, according to Reuters.

In the latest indication of global economic expansion, the German central bank said the national economy is expanding into the end of the year on strong industrial activity and firms are struggling to find workers to satisfy orders, it said.

On Wall Street, the Dow Jones Industrial Average rose 86.94 points, or 0.37 percent, to 23,445.18. The S&P 500 gained 2.86 points, or 0.11 percent, to 2,581.71 and the Nasdaq Composite added 3.61 points, or 0.05 percent, to 6,786.40, said Reuters.

Based on corporate announcements and news flow today, stocks in focus today may include: Zecon Bhd, Tanco Holdings Bhd, Ranhill Holdings Bhd, Kronologi Asia Bhd, Heng Huat Resources Bhd, Sunway Construction Group Bhd, Malton Bhd, IOI Properties Bhd, GD Express Carrier Bhd, Daibochi Plastic and Packaging Industry Bhd, Hap Seng Plantations Bhd, Land & General Bhd, TDM Bhd, Mieco Chipboard Bhd, AYS Ventures Bhd and Kelington Group Bhd.