KLCI seen trending higher, hover around 1,690-1,700 level

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KUALA LUMPUR (July 13): The FBM KLCI is seen trending higher today, in line with the firmer overnight close at Wall Street and most global markets, and hover around the 1,690-1,700 level.

U.S. stocks closed higher on Thursday as industrials rebounded and technology names soared, while commodities recovered and the dollar held steady after concerns over an escalating U.S. trade war with China took a breather, according to Reuters.

Technology companies - including Facebook, Microsoft and Amazon - hit all-time intraday highs, helping to power the NASDAQ stock exchange to a record high, it said.

The Dow Jones Industrial Average rose 224.44 points, or 0.91 percent, to 24,924.89, the S&P 500 gained 24.27 points, or 0.87 percent, to 2,798.29 and the Nasdaq Composite added 107.31 points, or 1.39 percent, to 7,823.92, said Reuters.

The pan-European FTSEurofirst 300 index rose 0.78 percent and MSCI's gauge of stocks across the globe gained 0.63 percent, it said.

Based on corporate announcements and news flow today, companies in focus on Friday may include: WCT Holdings Bhd, Lafarge Malaysia Bhd, Star Media Group Bhd, JAKS Resources Bhd, Gabungan AQRS Bhd, Atlan Bhd, Kumpulan Jetson Bhd, Nova MSC Bhd and SKH Consortium Bhd.