KLCI to drift higher, hurdle at 1,735

KLCI to drift higher, hurdle at 1,735
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KUALA LUMPUR (Feb 26): The FBM KLCI is expected to drift higher today in line with the overnight gains at most global markets, with hurdle at the 1,735-level.

World stock markets rose on Monday after U.S. President Donald Trump said he would delay a tariff hike on Chinese imports, buoying hopes of a resolution to a trade war between the world's two biggest economies, according to Reuters.

European stocks added 0.2 percent to touch their highest since October, following stronger gains by their Asian peers. Germany's trade-sensitive DAX led the way, with the China-exposed auto sector gaining ground, it said.

The Dow Jones Industrial Average rose 60.14 points, or 0.23 percent, to 26,091.95, the S&P 500 gained 3.44 points, or 0.12 percent, to 2,796.11 and the Nasdaq Composite added 26.92 points, or 0.36 percent, to 7,554.46, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include: Gamuda Bhd, Malaysian Bulk Carriers Bhd, Apex Equity Holdings Bhd, Tan Chong Motor Holdings Bhd, Karex Bhd, K Seng Seng Corp Bhd, Media Chinese International Ltd, Econpile Holdings Bhd, Boustead Plantations Bhd, Sunway Construction Group Bhd, Lay Hong Bhd, Unisem (M) Bhd, APM Automotive Holdings Bhd and UEM Edgenta Bhd.