KUALA LUMPUR (March 22): The FBM KLCI is seen hovering around the 1,860-point level cautiously today, in line with the mixed overnight close at most global markets.

The local benchmark index has to decisively break out above the 1,860-point level to sustain any meaningful gain and keep up its momentum.

Concerns over further trade tariffs and a widely expected interest rate hike by the Federal Reserve left world stocks flat after a choppy session Wednesday as investors tried to balance out the effects of low inflation and higher trading costs on the global economy, according to Reuters.

Stocks had initially rallied and pushed the Dow Jones Industrial Average up more than 200 points after the Fed raised benchmark U.S. interest rates by 0.25 percentage point, as expected, at the conclusion of a two-day policy meeting and said growth in the U.S. economy continues to look strong, it said.

The Dow Jones Industrial Average fell 44.96 points, or 0.18 percent, to close at 24,682.31, the S&P 500 lost 5.01 points, or 0.18 percent, to 2,711.93 and the Nasdaq Composite dropped 19.02 points, or 0.26 percent, to 7,345.29.7,345.29, said Reuters.

Based on corporate announcements and news flow yesterday, companies in focus today may include: Sapura Energy Bhd, IOI Properties Group Bhd, UMW Holdings Bhd, MBM Resources Bhd, Sumatec Resources Bhd and YFG Bhd.