KLCI seen starting week on positive note, support at 1,680

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KUALA LUMPUR (March 18): The FBM KLCI is seen starting the week on a positive note today, in line with the gains at most global markets last Friday, with immediate support at the 1,680-level.

A gauge of global equity markets hit a five-month high on Friday on investor optimism over U.S.-Chinese trade talks and hopes a new Brexit vote next week will prove successful, but the dollar headed to its biggest weekly loss since early December, according to Reuters.

Hopes of Britain avoiding a chaotic exit from the European Union lifted stock indexes in Europe to highs last seen in October, while substantive progress on U.S.-China trade talks -as reported by China's state-run news agency - also buoyed sentiment, it said.

The Dow Jones Industrial Average rose 139.07 points, or 0.54 percent, to 25,849.01. The S&P 500 gained 13.99 points, or 0.50 percent, to 2,822.47 and the Nasdaq Composite added 57.62 points, or 0.76 percent, to 7,688.53, said Reuters.

Based on corporate newsflow and announcements last Friday, stocks in focus today may include: Asdion Bhd, Boustead Holdings Bhd, Boustead Heavy Industries Corporation Bhd, Country Heights Bhd, Eversendai Corporation Bhd, Pestech International Bhd, Selangor Properties Bhd and Texchem Resources Bhd.