KLCI to trade range bound, hurdle at 1,700

KLCI to trade range bound, hurdle at 1,700
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KUALA LUMPUR (Jan 30): The FBM KLCI is seen trading range bound with a hurdle at 1,700-points, in line with the mixed overnight close at most global markets.

Gold hit an eight-month high while world stock markets were mixed ahead of further U.S.-Sino trade talks, a raft of technology company results starting with Apple later on Tuesday and an impending Federal Reserve decision on interest rates, according to Reuters.

The U.S. dollar was little changed and oil prices rose after Washington slapped sanctions on Venezuela' state-owned oil firm in a bid to curb its crude exports as traders prepared for major events such as a key Brexit vote later in the day, it said.

The Dow Jones Industrial Average rose 50.47 points, or 0.21 percent, to 24,578.69. The S&P 500 lost 4.28 points, or 0.16 percent, to 2,639.57 and the Nasdaq Composite dropped 51.83 points, or 0.73 percent, to 7,033.85, said Reuters.

Based on corporate announcements and news flow yesterday, companies in focus today may include: Genting Bhd, LPI Capital Bhd, Axiata Group Bhd, DRB-Hicom Bhd, Eita Resources Bhd, Comfort Gloves Bhd, Sunway Bhd, Pavilion REIT, Uzma Bhd and Capitaland Malaysia Mall Trust.