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0554 GMT [Dow Jones]
Malaysia's KLCI is up 0.4% at 1624.62 at
the midday break, tracking gains in Asian stock markets on the back of positive
cues from the ECB's bond purchase program.
OSK Research says the retracement
over the last two sessions is "insignificant" but it is vital for the KLCI to
hold above 1620; "we are eyeing a close above 1620, the success of which will
result in a new floor there," says OSK technical analyst Shin Kao Jack.
Otherwise, the index may retrace towards the next strong support level of 1591
or even 1582, he cautions.
Market breadth is positive at 396 gainers and 210
losers with 576.7 million shares changing hands. Among gainers, Axiata Group
(6888.KU) is up 2.0% at MYR6.14, Malayan Banking (1155.KU) is up 0.3% at MYR9.03
and Genting (3182.KU) is up 2.2% at MYR8.89.
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