KUALA LUMPUR (Nov 17): The FBM KLCI is expected to continue to trend sideways today but is not completely out of the woods as yet despite the overnight recovery at most global markets as investors shrugged off the deadly Paris attacks.

Investors at the local market, while may take heart from the overnight surge at Wall Street and global markets, would still be influenced by sliding commodities prices and lack of fresh catalysts at the domestic market.

The dollar rose and global equity markets gained on Monday as analysts saw limited economic impact worldwide from Friday's deadly attacks in Paris, although the sale of luxury goods and stocks geared to tourism in the French capital may suffer, according to Reuters.

Asian shares hit six-week lows overnight as investors bought safe-haven assets, including gold, the yen and low-risk government debt. But stocks on Wall Street climbed more than 1 percent and European shares rebounded from early losses, it said.

AffinHwang IB vice president and head of retail research Datuk Dr Nazri Khan said that going forward, he expects the local market to trend sideways within its 1660 - 1680 trading band following the sliding commodities price and anticipation of Federal Reserve hikes in the upcoming 15th-16th December meeting.

“We however expect the speculative stock play on Trans Pacific Partnership Agreement (TPPA, which is the largest FTA Malaysia will ever have) and the return of small cap rally on year end window dressing as well as festive seasons should provide cushion to broad market weakness,” he said.

Among the stocks with corporate news flow as per announcements to the stock exchange yesterday and that could see some movement today are Parkson, Ta Ann, Alam Maritim, Sapura Resources, WCT, Star Media, OSK Ventures, XingHe, S P Setia and BHIC.