Malaysian stocks to fall as lower oil hurts planters

KUALA LUMPUR, July 23 (Reuters) - Malaysian stocks are
likely to falter on Wednesday as losses in crude oil markets
hit shares of planters and energy firms such as Sime Darby
(SIME.KL) and KNM Group (KNMP.KL), dealers said.

"Crude palm oil prices may fall further today on the back
of lower oil prices, which will certainly be another excuse for
investors to take profit on pure-plantation plays," said a
trader.

Tobacco firm JT International Bhd (JTIN.KL) and the
country's smallest mobile phone operator DiGi (DSOM.KL) might
however get a boost after unveiling payouts of 75 sen and 57
sen per share respectively, dealers said.

"Consumer companies are still the best bet despite the
uncertainties in the country, economical and political,"
another dealer said.

Markets could be hit if June inflation data, due later on
Wednesday, is much higher than the Second Finance Minister's
expectation of 7 percent.

A Reuters poll forecast inflation for last month probably
rose 6.8 percent from a year ago, to its highest in more than
26 years, after a rise in fuel prices. [ID:nKLR281603]

The benchmark Kuala Lumpur Composite Index .KLSE rose 0.6
percent to 1,109.6 points on Tuesday, ending above its 16-month
low. The July futures index KLIN8 put the index at 1,102.5
points.

Here are news stories and factors that may affect the
Malaysian stock market on Wednesday.
----------------MARKET SNAPSHOT @ 00:00 GMT ---------------

INSTRUMENT LAST PCT CHG NET CHG S&P
500 .SPX 1,277.00 1.35% 17.000 USD/JPY

JPY= 107.24 -0.01% -0.010 10-YR US
TSY YLD US10YT=RR 4.116 -- 0.014 SPOT GOLD

XAU= $946.35 0.14% 1.350 US CRUDE

CLc1 $128.13 -0.23% -0.280 DOW JONES
.DJI 11602.50 1.18% 135.16 ASIA ADRS
.BKAS 147.79 1.41% 2.06
-------------------------------------------------------------
> Palm oil ends off highs on Indonesia tax move
[ID:nKLR107172] > BankThai says Malaysia CIMB to invest more in
it[ID:nBKK103988] > Malaysia's JT International says to return
cash [ID:nKLA007768] > Malaysia sees no cut in palm windfall
tax [ID:nSP64079] > Malaysia's c.bank reserves $125.1
bln at July 15 [ID:nKLA007767] > Malaysia's opposition bloc
shows signs of cracks[ID:nKLR186231] > Malaysia June CPI seen
jumping to 26-yr high [ID:nKLR281603] > US market up as oil's
drop trumps earnings; Yahoo up late [.N] > Oil hits six-week
low, storm fears ease [O/R] > FOREX-Dollar
gains broadly on Plosser comments, oil slump[USD/] > Bonds
slide on stock gains, inflation warning [US/] > Gold
ends sharply lower as oil sinks, dollar up [GOL/]
(Reporting by Niluksi Koswanage; Editing by Anshuman Daga)