KLCI seen opening lower, tracking global markets, support at 1,750

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KUALA LUMPUR (July 31): The FBM KLCI is seen opening lower today, tracking the overnight losses at most global markets.

Also, technology-related stocks on Bursa Malaysia are likely to remain pressured today, tracking the sell-off in U.S. technology stocks.

A gauge of global equity markets fell on Monday, pulled down by a sell-off in U.S. technology heavyweights, while the dollar slipped against the euro ahead of several central bank monetary policy meetings later this week, according to Reuters.

Most major currencies stuck to narrow trading ranges ahead of central bank decisions. The Bank of Japan ends a two-day meeting on Tuesday, the U.S. Federal Reserve concludes its policy meeting on Wednesday, and the Bank of England is expected to raise interest rates on Thursday, it said.

The Dow Jones Industrial Average fell 144.23 points, or 0.57 percent, to 25,306.83. The S&P 500 lost 16.22 points, or 0.58 percent, to 2,802.6 and the Nasdaq Composite dropped 107.42 points, or 1.39 percent, to 7,630.00, said Reuters.

Based on corporate announcements and news flow yesterday, companies in focus today may include: Top Glove Corp Bhd, JAKS Resources Bhd, Star Media Group Bhd, Malaysia Building Society Bhd, Barakah Offshore Petroleum Bhd, Handal Resources Bhd, Fima Corp Bhd, Datasonic Group Bhd, New Hoong Fatt Holdings Bhd, Rev Asia Bhd and Tadmax Resources Bhd.