KUALA LUMPUR (Nov 2): The FBM KLCI is expected to trade range bound today as local sentiment is seen staying cautious ahead of the tabling of Budget 2019 at 4pm later on Friday.

This is despite the overnight rally at the global equity markets, as the Pakatan Harapan government policies going forward will be the key focus today.

World equity markets began November with a broad rally on Thursday after a brutal October, boosted by strong corporate earnings and signs that a trade war between economic giants, China and the United States, could be contained, according to Reuters.

The MSCI All-Country World Index, which tracks stock markets in 47 countries, climbed about 1.1 percent, it said.

The Dow Jones Industrial Average rose 264.98 points, or 1.06 percent, to 25,380.74, the S&P 500 gained 28.63 points, or 1.06 percent, to 2,740.37 and the Nasdaq Composite added 128.16 points, or 1.75 percent, to 7,434.06, said Reuters.

Based on corporate announcements and news flow yesterday, stocks in focus today may include: AirAsia X Bhd, KNM Group Bhd, Supermax Corp Bhd, Atrium Real Estate Investment Trust, Hexza Corp, AWC Bhd, Unisem (M) Bhd, Hume Industries Bhd, Axiata Group Bhd, Sunway Real Estate Investment Trust, Tenaga Nasional Bhd, China Automobile Parts Holdings Ltd, M-Mode Bhd and TFP Solutions Bhd.