KUALA LUMPUR (July 13): The FBM KLCI is expected to extend its gains today, in line with the overnight rally at most global markets, as the positive sentiment at the local bourse is likely to sustain momentum.

Global equities rallied, lifting the Dow to a record high, the dollar gained and bond yields tumbled on Wednesday after Federal Reserve Chair Janet Yellen dampened growing expectations that more than one interest rate hike was in the cards this year, according to Reuters.

In remarks to the House Committee on Financial Services, Yellen said the U.S. economy is strong enough to absorb further gradual rate increases along with the slow wind-down of the Fed's massive bond portfolio, it said.

On Wall Street, the Jones Industrial Average rose 123.07 points, or 0.57 percent, to 21,532.14, a new closing high. The S&P 500 gained 17.72 points, or 0.73 percent, to 2,443.25 and the Nasdaq Composite added 67.87 points, or 1.1 percent, to 6,261.17, said Reuters.

Based on corporate announcements and news flow yesterday, companies that will be in focus today may include: Zhulian Corp Bhd, Digi.Com Bhd, Star Media Group Bhd, Felda Global Ventures Holdings Bhd, Axiata Group Bhd, Malaysia Pacific Corp Bhd, WCT Holdings Bhd and Eduspec Holdings Bhd.