KLCI to stay positive in line with Wall St gains, support at 1,690

KLCI to  stay positive in line with Wall St gains, support at 1,690
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KUALA LUMPUR (Nov 16): The FBM KLCI is expected to stay positive today in line with the overnight gains at Wall Street, with support seen at at the 1,690-level.

Sterling tumbled on Thursday as political developments in Britain rippled through currency, bond and equity markets, while the major U.S. stock indexes erased losses from earlier in the session helped by optimism over U.S.-China trade, according to Reuters.

Fueled by Wall Street's reversal, a gauge of global stock markets was on track to snap a five-day streak of declines. Oil prices rose to recoup some losses from a recent steep plunge, it said.

On Wall Street, the Dow Jones Industrial Average rose 205.23 points, or 0.82 percent, to 25,285.73, the S&P 500 gained 25.45 points, or 0.94 percent, to 2,727.03 and the Nasdaq Composite added 111.82 points, or 1.57 percent, to 7,248.21, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include Mah Sing Group Bhd, Petron Malaysia Refining & Marketing Bhd, Utusan Melayu (Malaysia) Bhd, Unisem (M) Bhd, Tomei Consolidated Bhd, Parkson Holdings Bhd, Tune Protect Group Bhd, Suria Capital Holdings Bhd and EcoFirst Consolidated Bhd.