KLCI seen trending sideways, hurdle at 1,680

KLCI seen trending sideways, hurdle at 1,680
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KUALA LUMPUR (Jan 17): The FBM KLCI is seen trending sideways today as domestic sentiment remains wary against the backdrop of the firmer overnight close at most global markets, with hurdle at 1,680 points.

Major world stock indexes rose on Wednesday, with the S&P 500 supported by sharply higher U.S. bank shares after strong earnings, while the pound was up after British Prime Minister Theresa May's government won a confidence vote in parliament, according to Reuters.

That should allow her to attempt to create a consensus among lawmakers on an agreement on Britain's departure from the European Union. The confidence vote followed the parliamentary defeat of May's Brexit deal late Tuesday, it said.

The Dow Jones Industrial Average rose 218.87 points, or 0.91 percent, to 24,284.46, the S&P 500 gained 15.34 points, or 0.59 percent, to 2,625.64 and the Nasdaq Composite added 32.57 points, or 0.46 percent, to 7,056.40, said Reuters.

Based on corporate announcements and news flow yesterday, companies that could be in focus today may include the following: Hengyuan Refining Co Bhd, CIMB Holdings Group Bhd, Hibiscus Petroleum Bhd, Barakah Offshore Petroleum Bhd, Kawan Food Bhd, JAKS Resources Bhd, Star Media Group Bhd, Scomi Group Bhd, Scomi Energy Services Bhd, My EG Services Bhd (MyEG), Aturmaju Resources Bhd and mTouche Technology Bhd.