Overnight fall on Wall Street likely to weigh on Bursa

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KUALA LUMPUR (Feb 21): The FBM KLCI is expected to remain lacklustre today in line with the weaker overnight close at most global markets, but stay above the 1,850-point level.

A six-day rebound in world stocks sputtered on Tuesday, hurt by rising bond yields and disappointing earnings from U.S. retailers, while the U.S. dollar extended a rebound from three-year lows, according to Reuters.

Pressured by higher yields, Wall Street's main equity indexes fell after six straight days of gains as the market reopened following the Presidents' Day holiday on Monday, it said.

The Dow Jones Industrial Average fell 188.27 points, or 0.75 percent, to 25,031.11, the S&P 500 lost 10.19 points, or 0.37 percent, to 2,722.03 and the Nasdaq Composite added 11.76 points, or 0.16 percent, to 7,251.23, said Reuters.

Based on corporate announcements and news flow yesterday, companies in focus today may include: MCT Bhd, Petronas Chemicals Group Bhd, Bina Darulaman Bhd, Nestle (M) Bhd, Halex Holdings Bhd and UEM Edgenta Bhd.