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=MARKET BUZZ: Malaysia KLCI May Extend Gains; Resistance Seen At 1700

KUALA LUMPUR (Jan 11) -- Malaysia’s KLCI seen rising further as Wall Street extends gains and ringgit continues strengthening; local index ended 0.7% higher at 1678.88 Thursday. Nikkei 225 last up 0.9% and S&P/ASX 200 edges 0.2% higher. Overnight, Dow Jones Industrial Average and S&P 500 each rose 0.5%, while Nasdaq Composite advanced 0.4%. March Brent crude rose 0.4% to $61.68 a barrel. Given the firmer ringgit and oil price trend, sentiment should improve further buoyed by resurgent buying interest in lower liners and small caps at much more attractive price levels, says TA Securities analyst Stephen Soo; adds, that could pave way for a rally ahead of Chinese New Year, tips resistance at 1700 psychological mark.

- By Jason Ng;; +60320267363
- Edited By Suzannah Benjamin
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