Malaysian Stocks - Market seen rangebound, U.S.data may help

KUALA LUMPUR, May 15 (Reuters) - Malaysian stocks are
likely to remain largely lacklustre on Thursday though easing
worries about U.S. inflation data and the resulting gains on
the Wall Street may boost the sentiment slightly.

A milder-than-expected 0.2 percent rise in U.S. consumer
prices in April, reported on Wednesday, helped soothe concerns
that the Federal Reserve may soon hike interest rates to curb
rising prices in the world's biggest economy.

Asian stocks listed on the Wall Street .BKAS rose 0.6
percent, while the MSCI's measure of Asia Pacific stocks
excluding Japan .MSCIAPJ inched up 0.02 percent overnight.

"Its pretty dull at the moment with no news inflow to move
the market," said a dealer.

"The latest U.S. data may help boost the sentiment
slightly, though the market will need more reassurance that the
worst is over there before celebrating that," he said.

Another dealer said steel stocks, such as Ann Joo Resources
(ANNJ.KL) and Kinsteel (KSTE.KL), should still attract
investors.

The sector has remained in focus this week after a
government decision to liberalise the local steel industry.

On Wednesday, the benchmark Kuala Lumpur Composite Index
.KLSE rose 0.09 percent, with lender AMMB Holdings Bhd
(AMMB.KL) gaining 3.1 percent after it reported a dramatic
turnaround in its bottom line for the fourth quarter.

A similar performance was unlikely though by Malayan
Banking Bhd (Maybank) (MBBM.KL), the country's largest lender,
which reported a marginal 0.8 percent fall in third-quarter net
profit, though dealers said it was unlikely to fall much as
well. ----------------------MARKET SNAPSHOT @ 2313 GMT
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INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1408.66 0.4% 5.620
USD/JPY JPY= 105.14 0.1% 0.100
10-YR US TSY YLD US10YT=RR 3.9207 -- 0.000
SPOT GOLD XAU= 864.3 0.08% 0.650
US CRUDE CLc1 123.99 -0.19% -0.230
DOW JONES .DJI 12898.38 0.52% 66.20
ASIA ADRS .BKAS 164.81 0.62% 1.02
-------------------------------------------------------------
>US STOCKS-Benign inflation, strong results lift Wall St
[.N] >Oil falls on Iran assurance, US distillate build
[O/R] >FOREX-Yen falls broadly after tame CPI data, stocks rise
[USD/] >TREASURIES-Prices fall as equities draw investors
[US/] >Gold ends tad lower; physical buyers resurface
[GOL/] >SE Asian Stocks-Mostly up on strong earnings

[.SO] >Maybank posts 0.8 pct fall in Q3 profit
[ID:nKLR4510] >Malaysia says actual FDIs rose to $9 bln in 2007
[ID:nKLR261441] >Malaysia's Sunway subsidiary wins 120m rgt job
[ID:nKLA007510] >Boustead bids to buy-out property arm

[ID:nKLR37559] >MARC puts Malaysian Merchant on negative
watch [ID:nWNA0359] >Petronas in Uzbekistan oil-production
deals [ID:nSP29752] >Malaysian palm up on supply worries

[ID:nKLR57500] >Malaysia's OSK says to raise 400
mln rgt in debt [ID:nKLR146257]

INTEL CHAIRMAN TO VISIT PENANG ON MAY 16

- Chairman of Intel Corp (INTC.O) Graig Barrett will visit
the northern state of Penang on Friday where he is expected to
unveil the tech giant's future investment strategy in the
industrial state, the Malaysian Reserve said.

SOARING PRICES A PLATEFUL FOR BERNAS

- The recent spike in global rice prices has tipped the
country's sole rice importer Padiberas Nasional Bhd (Bernas)
(PNAS.KL) into the red since April this year, the Edge
Financial Daily said, quoting Bernas Managing Director Bakry
Hamzah.

(Reporting by Faisal Aziz; Editing by Jalil Hamid)