KUALA LUMPUR (Dec 20): The FBM KLCI is seen defending its gains today on possible year-end window dressing activities despite the weaker overnight close at most global markets with immediate hurdle at 1,660.

Global equity markets gave up earlier gains on Wednesday after the U.S. Federal Reserve announced another interest rate hike and said "some" further rate hikes would be necessary in the year ahead, according to Reuters.

The decision, announced at 2 p.m. Eastern time (1900 GMT), briefly slashed nearly 200 points off of the Dow Jones Industrial Average and halved the day's modest gains in MSCI's index of global stocks. The index remains down nearly 12 percent since the start of December, it said.

On Wall Street, the Dow Jones Industrial Average fell 87.55 points, or 0.37 percent, to 23,588.09, the S&P 500 gained 13.76 points, or 0.54 percent, to 2,559.92 and the Nasdaq Composite added 17.11 points, or 0.25 percent, to 6,801.02, said Reuters.

Based on corporate announcements and news flow yesterday, companies that may be in focus today may include: Berjaya Corp Bhd (BCorp), Berjaya Land Bhd (BLand), Berjaya Media Bhd (BMedia), 7-Eleven Holdings Bhd, Bursa Malaysia Bhd, Malaysian Resources Corporation Bhd (MRCB), Malaysia Airports Holdings Bhd (MAHB), AirAsia Group Bhd, Tenaga Nasional Bhd (TNB), Mclean Technologies Bhd, JAG Bhd, Chuan Huat Resources Bhd and George Kent (M) Bhd.