=MARKET BUZZ: Malaysia’s KLCI May Rise; Upside Bias Toward 1645 Seen - CIMB
KUALA LUMPUR (Apr 15) -- Malaysia’s KLCI likely higher, tracking early rise in Asia and Friday's gains on Wall Street; local index rose 0.4% to 1630.17 Friday. Nikkei 225 last up 1.4% while S&P/ASX 200 is marginally higher. Dow Jones Industrial Average added 1% Friday, while S&P 500 climbed 0.7% and Nasdaq Composite rose 0.5%. June Brent added 1% to $71.55 a barrel. Technically, KLCI may stay "sideways with an upside bias for a while longer before more selling sets in," says CIMB Investment Bank Analyst Nick Foo; adds, select small cap stocks expected to be actively traded this week and tips resistance at 1645-1660 and support at 1600-1617.
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