Dear all,
The KLCI was up by 12.73 points or 0.77%to close at 1676. Losers led gainers by 397to 371while 1145 counters remain unchanged.
Volume was lower at RM1.6241 billion as compared to at RM1.7277 billion.
Former Prime Minister Datuk Seri Najib Razakand Arul Kanda, Former CEO of 1MDB is facing trial to alleged tampering with audit report of 1MBD. Arul Kanda is facing charges for making changes to the 1MDB final audit report before the report was submitted to the Public Accounts committee.Despite this news, our market rallied with the positive global news on trade wars.
Asia market together with our local bourse rise to closed higher with optimistic trade talks. Donald Trump told during a telephone call with Beijing, he will not further raise tariff on China’s imports in an interview with Reuters. China as well have agreed to reduce tariff on automotive products and to purchase Soy Bean from US. Tensions between US and China have ease as both countries made efforts to negotiate a trade deal.
Europe and UK market gap up opened but traded lower since. UK Prime Minister Theresa May won confidence vote in her leadership of the Conservative Party. Theresa May won with 200 to 117 votes accounting to 63% of party support. Even though Theresa May passed this test, this has showed how her government is divided. More chaos is expected as British is test with Brexit.
All the best for a great Friday, but be extremely cautious as foreign and local news are bearish. Have a nice weekend! 😉
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