=MARKET BUZZ: Malaysia KLCI Rises 0.7%; Rebound May Be Short Term - Analyst
KUALA LUMPUR (May 15) -- Malaysia KLCI rises 0.7% to 1609.96 amid early gains in Asian markets on the back of overnight rebound on Wall Street; Dialog Group rises 8.5% to MYR3.33 backed by strong volume to lead index gainers thanks to strong earnings and news of signing a long-term storage deal. Energy stocks among Bursa Malaysia’s biggest gainers as crude oil prices advance. Overall, gainers outnumber losers three-to-one with over 771 million shares worth MYR288 million changing hands. “It looks like technical buys at this moment with the bulls trying to push through 1610 resistance,” says analyst with local brokerage; warns rebound may be limited to short-term as downside risks loom from ongoing US-China trade war.
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