KUALA LUMPUR (Dec 19): The FBM KLCI is expected to hover cautiously around the 1,750-point level today, in line with the overnight new highs at most global markets.

International investors acquired some RM495.3 million of Malaysian equities last week, a level not reached for the past seven months, according to MIDF Amanah Investment Bank Bhd Research in a note Monday.

However, domestic sentiment on the other hand has also been somewhat nervy as evident from the local benchmark index that has been consolidating.

Global stock markets rose to new highs on Monday as U.S. Republican lawmakers moved closer to passing tax-cut legislation, while the dollar slid on concerns about the bill's impact on economic growth and interest rates, according to Reuters.

Congress was expected to vote as early as Tuesday on the bill, which would become the biggest U.S. tax code overhaul in more than three decades if approved. President Donald Trump is aiming to sign the plan into law at the end of the week, it said.

The Dow Jones Industrial Average rose 129.39 points, or 0.52 percent, to 24,781.13, the S&P 500 gained 15.27 points, or 0.57 percent, to 2,691.08 and the Nasdaq Composite added 56.44 points, or 0.81 percent, to 6,993.02 having earlier risen above the 7,000 point mark for the first time, said Reuters.

Based on corporate announcements and news flow yesterday, companies that may be in focus today may include: TMC Life Sciences Bhd, Econpile Holdings Bhd, Hai-O Enterprise Bhd, Berjaya Sports Toto Bhd, TH Heavy Engineering Bhd, Ekovest Bhd, Iskandar Waterfront City Bhd, United Malacca Bhd and Bina Puri Holdings Bhd.