KLCI to tick higher, defend 1,860-level

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KUALA LUMPUR (Feb 26): Stocks on Bursa Malaysia are expected to tick higher today, and the FBM KLCI defend its position above the 1,860-point level, in line with the firmer close at global markets last Friday.

Shares rose broadly worldwide on Friday, with strong technology stocks and a retreat in Treasury yields lifting Wall Street, while gold had its biggest weekly loss this year as investors shrugged off concerns about interest rate hikes, said Reuters.

The dollar edged higher as investors positioned for a more aggressive Federal Reserve to raise U.S. interest rates three times this year, it said.

The Dow Jones Industrial Average rose 347.51 points, or 1.39 percent, to 25,309.99, the S&P 500 gained 43.34 points, or 1.60 percent, to 2,747.3 and the Nasdaq Composite added 127.30 points, or 1.77 percent, to 7,337.39, said Reuters.

Based on corporate announcements and news flow last Friday, companies in focus today may include: Cahya Mata Sarawak Bhd, Felda Global Ventures Holdings Bhd, IOI Corp Bhd, Scomi Engineering Bhd, Tadmax Resources Bhd, Kuantan Flour Mills Bhd, Scientex Bhd, Vsolar Group Bhd, Dayang Enterprise Holdings Bhd, Encorp Bhd, WTK Holdings Bhd, YTL Corp Bhd and Lafarge Malaysia Bhd.