KUALA LUMPUR (Oct 23): The FBM KLCI is expected to stay lacklustre today and hover around the 1,740-point level despite the firmer close last Friday at most global markets.

Local investors are likely to take a wait and see approach this week, given the tabling of Budget 2018 this coming Friday.

World stocks advanced, bond yields rose and the U.S. dollar strengthened on Friday on increased hopes President Donald Trump could make progress on his fiscal plans after the U.S. Senate approved a budget blueprint that paves the way for tax cuts, according to Reuters.

U.S. Republican Senator Rand Paul appeared to back the administration's sweeping tax cut plan, saying he was "all in" for massive tax cuts, even as the Senate passed a key budget measure without his support one day earlier, it said.

The Dow Jones Industrial Average rose 165.59 points, or 0.71 percent, to 23,328.63, the S&P 500 gained 13.1 points, or 0.51 percent, to 2,575.2 and the Nasdaq Composite added 23.99 points, or 0.36 percent, to 6,629.05, said Reuters.

Based on corporate announcements and news flow last Friday, stocks in focus today may include: Comintel Corp Bhd, Ranhill Holdings Bhd, Nova MSC Bhd, Syarikat Takaful Malaysia Bhd, Icon Offshore Bhd, MyEG Services Bhd and Notion Vtec Bhd.