KUALA LUMPUR (Jan 27): Anticipation of Malaysia's Budget 2016 revision announcement tomorrow may dictate market sentiment today as investors evaluated the impact of crude oil prices to the economy and corporate financials.

The spotlight could be on oil and gas support-services providers as crude oil at near US$30 a barrel prompts global industry players to cut capital spending.  

In Malaysia, Prime Minister Datuk Seri Najib Tun Razak had earlier warned that the country was not spared from current economic challenges amid lower crude oil prices, which would have an impact on the nation's income. He said crude oil at below US$30 a barrel had prompted countries to reassess their economic growth forecast.

Yesterday, the FBM KLCI rose 1.45 points or 0.09% to close at 1,626.66.

Overnight, Bloomberg reported that US stocks rallied, with the Dow Jones Industrial Average posting its strongest gain in more than seven weeks, amid better-than-forecast earnings from companies ranging from 3M Co to Coach Inc while energy shares rebounded with oil after a selloff Monday.

The Standard & Poor’s 500 Index added 1.4%, the Dow gained 1.8% while Nasdaq Composite Index increased 1.1%.

Reuters reported that Brent crude settled up US$1.30 or 4.26% at US$31.80 a barrel, rebounding from a decline at the start of the session to top out at US$32.72. US crude rose 3.7% or US$1.11 to settle at US$31.45 a barrel. During the session it rose as high as US$32.41.