KUALA LUMPUR (Dec 20): The FBM KLCI is expected to remain lacklustre today in with the overnight retreat at most global markets and hover around the 1,740-point level.

The local market has been perceived as overbought and fell on Tuesday on profit taking amid fund managers’ year end window dressing.

Wall Street and other global stock markets fell slightly on Tuesday, with investors taking profits after recent highs in the tech sector before U.S. Republican lawmakers reach their goal of passing tax legislation, according to Reuters.

U.S. stocks have hit successive highs ahead of the tax overhaul bill, but modest selling has crept into the market as most traders see the positive impact of cuts to corporate taxes already priced into the market, it said.

The Dow Jones Industrial Average fell 12.6 points, or 0.05 percent, to 24,779.6, the S&P 500 lost 4.11 points, or 0.15 percent, to 2,686.05 and the Nasdaq Composite dropped 25.76 points, or 0.37 percent, to 6,969.00, said Reuters.

Based on corporate announcements and news flow yesterday, companies that may be in focus today may include the following: Pestech International Bhd, AirAsia X Bhd, Chemicals Company of Malaysia Bhd, G3 Global Bhd, Vertice Bhd, Techfast Holdings Bhd, Analabs Resources Bhd and Pentamaster Corp Bhd.