KLCI to trend sideways, stay above 1,780-level

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KUALA LUMPUR (Sept 14): The FBM KLCI is expected to trend sideways today and stay above the 1,780-point level, tracking the mixed overnight close at global markets.

Global equity markets were little changed on Wednesday as Wall Street eked out new closing highs, while the dollar rose on U.S. producer prices data for August that suggested a robust economy, according to Reuters.

The yields on European and U.S. government debt rose, with prices for the U.S. benchmark Treasury note hitting a 2-1/2-week high, it said.

On Wall Street, the Dow Jones Industrial Average rose 39.32 points, or 0.18 percent, to 22,158.18. The S&P 500 gained 1.89 points, or 0.08 percent, to 2,498.37 and the Nasdaq Composite added 5.91 points, or 0.09 percent, to 6,460.19, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today could include CAB Cakaran Corp Bhd, Puncak Niaga Holdings Bhd, Land & General Bhd, Axiata Group Bhd, Datasonic Group Bhd, Wah Seong Corp Bhd, Enra Group Bhd, EITA Reources Bhd, AbleGroup Bhd, Versatile Creative Bhd, Iris Corp Bhd, Syarikat Takaful Malaysia Bhd and UEM Edgenta Bhd.