KUALA LUMPUR (Jan 9): The FBM KLCI is expected to hold on to its recent gains and defend its level above 1,830 points on the back of a firmer ringgit and steady crude oil prices.

The ringgit held on to below RM4 versus the greenback while crude oil hovered just above the US$67 per barrel level.

Foreign funds have held sway at the local bourse with an inflow surging to RM915.1 million in the fisrt week of 2018, up from RM165.1 million the prior week, according to MIDF Amanah Investment Bank Bhd Research.

The dollar hit its highest levels in more than a week against a basket of currencies and the euro eased on Monday, while U.S. stocks held firm after kicking off the new year with strong gains last week, according to Reuters.

The S&P 500 edged up, reversing losses from early in the session, while a global index of equities also was slightly higher, it said.

The Dow Jones Industrial Average fell 6.3 points, or 0.02 percent, to 25,289.57, the S&P 500 gained 3.93 points, or 0.14 percent, to 2,747.08 and the Nasdaq Composite added 18.93 points, or 0.27 percent, to 7,155.49, said Reuters.

Based on corporate announcements and news flow yesterday, companies in focus today may include: NWP Holdings Bhd, Binasat Communications Bhd, Malakoff Corp Bhd, MESB Bhd, AirAsia Bhd, Sime Darby Property Bhd, Yong Tai Bhd, CIMB Group Holdings Bhd, SCH Group Bhd, Ajiya Bhd and Westports Holdings Bhd.