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=MARKET BUZZ: Malaysia's KLCI Recoups Early Losses; Faces 1880 Hurdle

KUALA LUMPUR (Apr 17) -- Malaysia's benchmark KLCI recoups initial losses, now at 1879.25, little changed from yesterday's closing. Asian shares mostly lower ahead of China’s first-quarter GDP and March industrial production data due later today. Press Metal Aluminium Holdings leads index gainers, +3.3% at MYR4.99 tracking gains in global aluminium prices. In broader market, gainers outnumber laggards 310-to-159; about 547 million shares changed hands so far in deals worth MYR249 million. "With the positive technicals on MACD indicator, RSI and Stochastics oscillators, we anticipate that the key index could extend its upward trend towards 1880 and 1896," says Hong Leong Investment Bank in investor note. Meanwhile, Maybank Investment Bank expects KLCI to trade between 1870 and 1900 today, but says gains could be capped at 1880.

- By Chong Sin Hao;; +60320267363
- Edited By Abhrajit Gangopadhyay
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