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=MARKET BUZZ: Malaysia KLCI Turns Positive; 1670-1710 Range Tipped

KUALA LUMPUR (Dec 07) -- Malaysia’s KLCI turns positive amid gains in most Asian markets on hopes of slower U.S. interest rates increases; now tad higher at 1683.5 after falling as low as 1678.68 in early minutes. Telekom Malaysia leads percentage gains on gauge, up 1.5% at MYR2.63. Overall, gainers outnumber losers 208 to 184 after more than 509 million shares changed hands. Outside Malaysia, Nikkei Asia300 Index adds 0.5%. “Technically, we expect the FBMKLCI to range between 1670 and 1710 today,” says Maybank. Adds, KLCI will continue to consolidate in near term with possible recovery afterwards as December is traditionally a strong month.

- By Jason Ng; Jason.Ng@NikkeiNewsRise.com; +60320267363
- Edited By Suzannah Benjamin
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