KLCI to trend higher, cross 1,685 hurdle

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KUALA LUMPUR (Jan 8): The FBM KLCI is expected to trend higher today in line with the overnight rally at most global markets, and cross the 1,685 hurdle.

An index of world stocks rose on Monday, adding to Friday's strong gains, on optimism about the outcome of trade talks between Washington and Beijing, according to Reuters.

Growing bets the Federal Reserve will halt its multi-year rate-hike cycle sent the dollar lower across the board, while rising equity markets and support from OPEC production cuts helped lift oil prices, it said.

The Dow Jones Industrial Average rose 98.19 points, or 0.42 percent, to close at 23,531.35, the S&P 500 gained 17.75 points, or 0.70 percent, to finish at 2,549.69 and the Nasdaq Composite added 84.61 points, or 1.26 percent, to end at 6,823.47, said Reuters.

Based on corporate announcements and news flow yesterday, companies that could be in focus today may include the following: Sapura Energy Bhd, Gagasan Nadi Cergas Bhd, Microlink Solutions Bhd, JAKS Resources Bhd, Star Media Group Bhd, Destini Bhd, Lion Industries Corp Bhd and KKB Engineering Bhd.