KUALA LUMPUR (July 12): The FBM KLCI is expected to open flat today as sentiment at the local market is seen remaining tepid in the absence of fresh catalyst to boost interest in local equities.

Foreign institutions continued to sell as the ringgit weakens further.

Net sell from foreign institutions was RM205 million while net buy from local institutions was RM207 million. The ringgit weakened from RM4.29 two weeks ago to RM4.30 to a US Dollar last Friday.

The FBM KLCI has also remained bearish in the short term below the short term 30-day moving average and the 2-month support level.

The dollar hit a four-month high against the yen and global equity markets edged up on Tuesday as investors awaited testimony by Federal Reserve Chair Janet Yellen this week and any signs of tighter U.S. monetary policy, according to Reuters.

MSCI's measure of stock performance world-wide initially rose, lifted by expectations of robust global growth, it said.

The Dow Jones Industrial Average rose 0.55 points, or 0 percent, to 21,409.07, the S&P 500 lost 1.9 points, or 0.08 percent, to 2,425.53 and the Nasdaq Composite added 16.91 points, or 0.27 percent, to 6,193.31, said Reuters.

Based on corporate announcements and news flow yesterday, companies that will be in focus today may include: Lotte Chemical Titan Holding Bhd, ML Global Bhd, Boustead Heavy Industries Corporation Bhd, UPA Corp Bhd, T7 Global Bhd, DiGi.Com Bhd, Sealink International Bhd, and Kobay Technology Bhd.