Malaysian shares seen rising, Tenaga in focus

KUALA LUMPUR, July 24 (Reuters) - Malaysian shares are
expected to extend gains on Thursday, following a rise in U.S.
stocks as crude prices tumbled to a six-week low.

"The strong trading volumes recorded yesterday suggested
that sentiment is improving," said a dealer from a local
brokerage.

Plantation stocks, which account for nearly 20 percent of
the key index by market value, rose on Wednesday despite steep
losses in palm oil futures.

"Stock valuations are attractive after the recent sell-off.
Investors appear to be ready for bargain-hunting," another
dealer said.

Tenaga Nasional, Malaysia's largest power generator, will
be in focus ahead of the release of its third-quarter financial
results after the market close on Thursday.

Tenaga's third-quarter profits were expected to be lower
than last year due to higher capacity payment to smaller power
producers and coal costs, DBS Vickers Research said in a report
issued this week.

The benchmark Kuala Lumpur Composite Index .KLSE gained
2.7 percent to 1,139.41 points on Wednesday. The July futures
index KLIN8 put the index at 1,142.0 points.

Here are news stories and factors that may affect the
Malaysian stock market on Thursday. -------------------MARKET
SNAPSHOT @ 00:09 GMT ------------------
INSTRUMENT LAST PCT CHG NET CHG

S&P 500 .SPX 1,282.19 0.41% 5.190

USD/JPY JPY= 107.90 -0.01% -0.010

10-YR US TSY YLD US10YT=RR 4.134 -- 0.014

SPOT GOLD XAU= $921.10 0.15% 1.350

US CRUDE CLc1 $124.44 0.00% 0.000

DOW JONES .DJI 11632.38 0.26% 29.88

ASIA ADRS .BKAS 149.04 0.85% 1.25
------------------------------------------------------------- >
Malaysia's June inflation hits 27-year high [ID:nSP10362]
> Asian inflation at records, may be peaking
[ID:SP238130] > Palm sinks to 8-mth low on weak crude oil
[ID:nKLR334685] > Telekom Malaysia broadband project on track
[ID:nKLR146546] > Anwar says opposition will stick together

[ID:nSP322710] > China CNPC, Petronas replace vitol in Dar
blend sale[nSP129823] > Palm oil producers to sell eco-friendly
palm oil[ID:nJAK290768] > SE Asian Stocks-Rallied, S'pore at 4
wk high on property [.SO] > US STOCKS-Wall St rises on oil
drop, housing plan optimism [.N] > Oil slips further amid
worries over U.S. demand [O/R] > FOREX-Dollar rises on
oil drop, housing bill [USD/] > Bonds slips as
safety bids fade on stock gains [US/] > Gold sinks
over 3 pct on oil tumble, dollar rise [GOL/]
(Reporting by Soo Ai Peng, Editing by Jacqueline Wong)