KLCI seen trending sideways, hurdle at 1,670

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KUALA LUMPUR (March 15): The FBM KLCI is seen trending sideways today in line with the little changed global markets overnight, with hurdle at the 1,670-level.

A gauge of global equity markets traded little changed on Thursday as European shares rose ahead of new voting that backed a Brexit delay and bolstered the dollar, while Wall Street meandered on uncertainty over U.S.-China trade talks, according to Reuters.

The dollar gained for the first time in a week as the pound fell even after Parliament voted overwhelmingly to seek a delay to the March 29 deadline for Britain to exit the European Union, it said.

On Wall Street, the Dow Jones Industrial Average rose 7.05 points, or 0.03 percent, to 25,709.94. The S&P 500 lost 2.44 points, or 0.09 percent, to 2,808.48 and the Nasdaq Composite dropped 12.50 points, or 0.16 percent, to 7,630.91, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include: Poh Kong Holdings Bhd, Pesona Metro Holdings Bhd, Econpile Holdings Bhd, Utusan Melayu (M) Bhd, Berjaya Food Bhd, Uzma Bhd, Priceworth International Bhd, Revenue Group Bhd and Nestle (Malaysia) Bhd.