KUALA LUMPUR (July 21): Malaysian shares may take the cue from the onset of the corporate financial reporting season here and the European Central Bank's (ECB) monetary policy outlook.

Malaysia's corporate financial reporting season for the April-to-June quarter starts in July although most Bursa Malaysia-listed companies announce their results in August. Today, investors may watch stocks like British American Tobacco (M) Bhd and Maxis Bhd after both companies reported their earnings yesterday.

Yesterday, the FBM KLCI fell 1.64 points or 0.1% to close at 1,755.63 points. The ringgit weakened to 4.2910 against the US dollar.

Today, the ECB's monetary policy outlook may be closely watched after president Mario Draghi said the ECB would revisit its bond-buying programme this autumn.

Reuters reported that the euro strengthened to its highest level in nearly two years against the US dollar on Thursday after Draghi said officials would discuss possible changes to its bond-buying scheme this autumn.

It was reported that though Draghi set no date for changes to the bond-buying plan and said that officials were unanimous in their decision not to change their guidance on monetary policy on Thursday, investors suspected the talks would lead to tightening next year.