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=MARKET BUZZ: Malaysia’s KLCI Likely To Open Lower; 1700 Support Tipped

KUALA LUMPUR (Feb 22) -- Malaysia’s KLCI likely lower following retreat on Wall Street overnight; local index ended 0.3% higher at 1730.68 Thursday. Overnight, Dow Jones Industrial Average, S&P 500 and Nasdaq Composite each ended 0.4% lower amid global slowdown fears. April Brent almost flat at $67.07 a barrel. "The index may retrace slightly today after going up in the past few days,” says Kenanga Research analyst Loo Tong Wye; adds, KLCI’s moves to remain bullish “long term,” and today like “mild correction.” Tips support at 1700.

- By Gho Chee Yuan;; 60320267363
- Edited By Suzannah Benjamin
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