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=MARKET BUZZ: Malaysia KLCI Turns 0.1% Lower,1660-1680 Band Tipped

KUALA LUMPUR (Jan 11) -- Malaysia’s KLCI surrenders early gains to turn lower, now down 0.1% at 1677.88 as heavyweight banks fail to hold on to initial advances; Public Bank edges 0.4% lower at MYR24.70, while Malaysia Airports Holdings sheds 1.7% at MYR8.06. Energy stocks are biggest gainers as crude prices rise. Overall, gainers outnumber losers 367 to 228 with more than 1.1 billion shares worth MYR515 million changing hands. Outside Malaysia, Nikkei Asia300 Index is up 0.3%. Without new significant cues, KLCI will likely remain range-bound around current levels in the near term, says a dealer with local brokerage. Adds, “investors are being very selective in buying but the worst should be over” for some sectors such as oil and gas; tips 1660-1680 range for the day.

- By Jason Ng; Jason.Ng@NikkeiNewsRise.com; +60320267363
- Edited By Abhrajit Gangopadhyay
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