KLCI to stay lacklustre, hurdle at 1,680

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KUALA LUMPUR (Jan 15): The FBM KLCI is expected to stay lacklustre in line with the weaker overnight close at the global markets, with hurdle seen at 1,680 points.

World stock indexes fell on Monday after a shock contraction in Chinese trade reignited fears of a sharper slowdown in global growth and caused investors to sell riskier assets, according to Reuters.

Copper and other commodity prices fell and the Australian and New Zealand dollars also declined following the China news, which added to worries that U.S. tariffs on Chinese goods were taking a toll on the world's second-largest economy. The yen rose against the dollar, it said.

The Dow Jones Industrial Average fell 71.09 points, or 0.3 percent, to 23,924.86, the S&P 500 lost 11.3 points, or 0.44 percent, to 2,584.96 and the Nasdaq Composite dropped 46.93 points, or 0.67 percent, to 6,924.55, said Reuters.

Based on corporate announcements and news flow yesterday, companies that could be in focus today may include the following: Cahya Mata Sarawak Bhd, D’Nonce Technology Bhd, FGV Holdings Bhd, PBA Holdings Bhd, Ranhill Holdings Bhd, Spring Gallery Bhd and TSR Capital Bhd.