KLCI to end week on positive note, hurdle at 1,685

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KUALA LUMPUR (Jan 11): The FBM KLCI is expected to end the week on a positive note today in line with firmer overnight close at most global markets, with immediate hurdle at 1,685.

An index of world stock markets edged higher on Thursday as worries over the lack of clear signs of a resolution to the US-China trade spat were offset by an assurance by Federal Reserve Chairman Jerome Powell that the US central bank has the ability to be patient on monetary policy, according to Reuters.

The dollar rebounded after hitting a three-month low, while US Treasury prices erased early gains after a soft 30-year bond auction and as Powell said the US central bank will "substantially" reduce the size of its balance sheet, it said.

The Dow Jones Industrial Average rose 49 points, or 0.21%, to 23,928.12, the S&P 500 gained 4.64 points, or 0.18%, to 2,589.6 and the Nasdaq Composite added 11.96 points, or 0.17%, to 6,969.04, said Reuters.

Based on corporate announcements and news flow yesterday, companies that could be in focus today may include the following: Malaysia Airports Holdings Bhd, AWC Bhd, Atlan Holdings Bhd, Tenaga Nasional Bhd, Industronics Bhd, Hai-O Enterprise Bhd and Eversendai Corp Bhd.