KUALA LUMPUR (Nov 19): The FBM KLCI is expected to consolidate further today despite the firmer overnight close at Wall Street.

The local index may attempt to reverse its position and climb on some mild bargain hunting activities and window dressing as the year inches toward the final month.

However, the lack of fresh of solid corporate local catalysts may hamper any such attempt.

Meanwhile, Reuters reported that U.S. stocks gained steam and the dollar touched a fresh seven-month high on Wednesday after minutes from the most recent Federal Reserve policy meeting showed a core of officials backed a possible interest rate hike in December.

It said longer-dated U.S. Treasuries fared better than shorter-dated issues after the minutes of the Fed's Oct. 27-28 meeting showed "most" participants felt conditions for a rate hike "could well be met by the time of the next meeting."

Investor sentiment at the local market may take its cue from the global market mood that has been somewhat dampened by the waning commodities prices as well as terrorist threats aimed at disrupting peace in the Western world.

The FBM KLCI could re-test the 1,660-point level today.

Based on corporate announcements and news flow yesterday, the companies that may be in focus today could include the following: KLK, Malton, MBM Resources, Tan Chong, Batu Kawan, CBIP, Encorp, ES Ceramics, PJ Development, TSH Resources, Kian Joo, LaFarge Malaysia and Esthetics.