KUALA LUMPUR (July 3): The FBM KLCI is expected to trade range bound today within a tight band, in line with the lower overnight close at most global markets, but could find some encouragement from the positive close at Wall Street.

The worst start to a year for world shares since 2010 continued into the third quarter on Monday, with another slump in Chinese shares and weakening global factory surveys leading global equity markets lower, according to Reuters.

Shanghai’s bear market lurch continued overnight, with losses of up to 3 percent as firms await U.S. tariffs on $34 billion worth of Chinese goods this week, and new business surveys showed some worrying signs of deterioration, it said.

On Wall Street, shares turned positive in late afternoon trading as investors weighed trade concerns against Commerce Department data that showed U.S. construction spending increased more than expected in May. The Dow Jones Industrial Average pared earlier losses and rose 35.77 points, or 0.15 percent, to 24,307.18, while the S&P 500 index gained 8.34 points, or 0.31 percent, to 2,726.71. The technology-heavy Nasdaq Composite gained 57.02 points, or 0.81 percent, to 7,097.82, said Reuters.

Based on corporate announcements and news flow yesterday, companies in focus today may include: Malayan Banking Bhd, Petaling Tin Bhd, Kumpulan Perangsang Selangor Bhd, UMW Holdings Bhd, Computer Forms Malaysia Bhd, Parlo Bhd, Selangor Dredging Bhd, Pasdec Holdings Bhd, Tropicana Corp Bhd and MyEG Services Bhd.