KUALA LUMPUR (Dec 22): The FBM KLCI is expected to trend sideways today within a tight band of between 1,630-1,640 points, on likely bargain hunting and year-end window dressing in line with the positive overnight close at Wall Street.

However, still low crude oil prices could put some pressure on the local market.

With the trading week shortened due to the Maulidur Rasul and Christmas holidays, local retail investors may stay on the sideline.

Brent crude oil prices touched their weakest level in more than 11 years on Monday on concerns of global oversupply, while Wall Street ended higher as investors went shopping after two days of sharp declines, according to Reuters.

The dollar weakened against a basket of currencies in thin trading. The euro strengthened on apparent short covering following an inconclusive election result in Spain that may increase worries over the country's financial stability, it said.

Meanwhile, Wall Street started the abbreviated Christmas holiday week on a positive note, and buying accelerated in the late afternoon following a down week for the three major U.S. indexes, said Reuters.

Based on corporate announcements and news flow yesterday, companies that may be in focus today include the following: Axiata Groip Bhd, Handal Resources Bhd, SMTrack Bhd, Tecnic Group Bhd, KKB Engineering Bhd, YNH Property Bhd, Berjaya Land Bhd, Utusan Melayu (Malaysia) Bhd, Ajinomoto (Malaysia) Bhd, Pestech International Bhd, Scan Associates Bhd, Malaysian Reources Corporation Bhd and MCT Bhd.