KLCI likely to end 1Q 2015 on a firmer note

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KUALA LUMPUR (March 31): The FBM KLCI is likely to end the first quarter of 2015 on a firmer note and remain above the crucial 1,800-level today.

The dollar gained and global equity markets surged on Monday on merger activity among drugmakers on both sides of the Atlantic, while Chinese stocks hit a seven-year high on a government plan to create a modern Silk Road trade route, according to Reuters.

Major U.S. and European indexes rallied more than 1 percent on a spate of deals as the dollar rose against other currencies on the view the Federal Reserve will raise interest rates this year, it said.

The only likely blemish on the sentiment of the local market could be the impending start of the Goods and Services Tax (GST) on April 1.

With signs of foreign funds returning to Malaysian equity, the local index is expected to trend cautiously higher today, in line with the rally at most global markets.