KLCI seen opening on a cautious tone

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KUALA LUMPUR (April 8): The FBM KLCI is seen opening on a cautious tone today, after the strong rally at the local bourse earlier this week.

There could be some mild profit taking at Bursa Malaysia that saw the FBM KLCI notching up gains and moving above the 1,850-point level.

Week-on-week, the FBM KLCI has racked up more than 25 points as at yesterday, and is seen ripe for some mild profit taking.

However, regional market sentiment could be lifted ahead of crucial Bank of Japan monetary policy decision today.

The U.S. dollar rose more than 1 percent on Tuesday, resuming a recent upward trend and weighing on Wall Street stocks as investors fretted the currency's strength would hurt multinational corporate profits, according to Reuters.

U.S. equities had traded higher for much of the session but turned negative in the final hour of trading. European shares ended sharply higher, as did crude oil, it said.