KUALA LUMPUR (Feb 24): The FBM KLCI is seen trending lower today in line with the overnight slump at most global equity markets.

With local investor sentiment already dented with retreating crude oil prices, the indefinite delay in Putrajaya’s 1Malaysia Developmnent Board final audit report, as well as the uncertainties in the European Union due to question marks as to the United Kingdom’s possible exit from Union, will without a doubt leave investors on tenterhooks.

Global equity markets slumped on Tuesday, denting the recent recovery in riskier assets as oil prices tumbled on signs that a proposed deal to freeze output by major producers was not on the horizon, according to Reuters.

After gains of more than 5 percent on Monday, which had helped push a gauge of world equities up more than 1 percent, both Brent and U.S. crude turned sharply lower after Saudi Oil Minister Ali Al-Naimi said he welcomed all sources of supply, while Iran was seen as unlikely to agree to an output cap, it said.

Based on corporate announcements and news flow yesterday, companies likely to be in focus today include: Hong Leong Bank Bhd, Hong Leong Financial Group Bhd, Hong Leong Capital Bhd, Nestle (M) Bhd, MSM Malaysia Holdings Bhd, Yong Tai Bhd, Unisem (M) Bhd, RGB International Bhd, Lay Hong Bhd, Tanjung Offshore Bhd, Mitrajaya Holdings Bhd, Tan Chong Motor Holdings Bhd, Fiamma Holdings Bhd, Kian Joo Can Factory Bhd, MMC Corporation Bhd and Gas Malaysia Bhd.