KLCI to extend sideways consolidation, hurdle at 1,710

KLCI to extend sideways consolidation, hurdle at 1,710
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KUALA LUMPUR (March 4): The FBM KLCI is seen extending its sideways consolidation today, despite the rise at most global markets last Friday, with immediate hurldle at 1,710.

Sentiment at the local market is expected to remain nervy as the corporate earnings reported in February were a mixed bag.

World equity markets rose on Friday as optimism around trade and benign U.S. inflation boosted investor sentiment, while crude oil retreated on news of weaker U.S. factory activity, according to Reuters.

On Thursday, White House economic adviser Larry Kudlow called progress in the trade negotiations between the United States and China "fantastic" and said the countries were "heading toward a remarkable, historic deal", it said

On Wall Street, the Dow Jones Industrial Average rose 110.32 points, or 0.43 percent, to 26,026.32, the S&P 500 gained 19.2 points, or 0.69 percent, to 2,803.69 and the Nasdaq Composite added 62.82 points, or 0.83 percent, to 7,595.35, said Reuters.

Based on corporate announcements and news flow last Friday, stocks in focus today could include Dolphin International Bhd, VS Industry Bhd, OCR Group Bhd, KNM Group Bhd, Yinson Holdings Bhd, Majuperak Holdings Bhd, TMC Life Sciences Bhd and Sentoria Group Bhd.