KLCI to trend sideways, support at 1,680

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KUALA LUMPUR (Feb 11): The FBM KLCI is seen trending sideways today with support at the 1,680-point level, in line with the overall lacklustre global markets.

A gauge of global stocks fell for a third consecutive day on Friday amid uncertainty about global economic growth and trade tensions, posting its first weekly drop this year, while the U.S. dollar tallied its strongest week since August, according to Reuters.

MSCI's gauge of stocks across the globe shed 0.35 percent on the day, and dropped for the week following six consecutive weekly increases. Still, Wall Street's main equity indexes rallied late in the day on Friday, with the benchmark S&P 500 ending marginally positive, it said.

The Dow Jones Industrial Average fell 63.27 points, or 0.25 percent, to 25,106.26, the S&P 500 gained 1.83 points, or 0.07 percent, to 2,707.88 and the Nasdaq Composite added 9.85 points, or 0.14 percent, to 7,298.20, said Reuters.

Based on corporate announcements and news flow last Friday, companies in focus today may include: AT Systematization Bhd, Berjaya Media Bhd, MyEG Services Bhd and Utusan Melayu (Malaysia) Bhd.