KUALA LUMPUR (Feb 7): The FBM KLCI slipped 0.14% or 2.4 points to close at 1,688.84 today due in part to falls in heavyweights such as Tenaga Nasional Bhd, Sime Darby Bhd and Malayan Banking Bhd. Trading continued to be sluggish with a section of investors still preferring to stay at the sidelines awaiting better leads. "Since early-January, there have been upsides in stock prices with the FBM KLCI trading above 1,600 points. "If oil prices continue strengthening to about US$50–US$60 (a barrel) amid OPEC's output cuts, we could be seeing the local stock market hitting 1,700 points," he added. In the United States, Wall Street slipped 0.2%, dragged down by the falling oil prices as well as weaker sentiment due to Trump's economic policies.

Source: The Edge Markets February 07, 2017 09:56 UTC