KUALA LUMPUR, July 4 (Reuters) - Malaysian shares are
likely to open lower on Friday, as dealers expect a flood of
selling orders after trade had to be suspended for a day
because of a computer glitch, and political woes weigh on
sentiment.
Stock market operator Bursa Malaysia (BMYS.KL) has said
trading will resume on Friday, blaming Thursday's shut down on
a computer hard disk failure.
"There will be people in the market who couldn't sell
yesterday despite wanting to do so, and they would be selling
today," a dealer at a local brokerage said.
Dealers said concerns over the political situation in the
country, as well as weaker performance by U.S. stocks in recent
days, were also likely to weigh on the Malaysian market.
"Though the Dow was up yesterday, the U.S. markets have
been weaker, and that could impact us as well," said another
dealer.
She said growing uncertainty on the political front was
also a negative factor.
The benchmark Kuala Lumpur Composite Index .KLSE has
already lost more than 3 percent so far this week following
sodomy charges against opposition leader Anwar Ibrahim.
The index lost 4.9 percent in the second quarter of 2008
and is 24 percent off its January peak of 1,524.69 points.
"The Anwar Ibrahim issue, the plans of a big protest
against fuel price hike, they are all just adding to the
negative sentiment," said the dealer.
Malaysian police told the resurgent opposition on Thursday
to scrap a big weekend rally against the sharp fuel price rise
that has stoked anger against the government at a time of
rising political tensions.
Organisers plan to gather tens of thousands of people in
the biggest protest since the government substantially raised
petrol and diesel prices in early June.
Here are news stories and factors that may affect the
Malaysian stock market on Friday. ---------------------MARKET
SNAPSHOT@23:51GMT ------------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500
.SPX 1,262.90 0.11% 1.380 USD/JPY
JPY= 106.72 -0.05% -0.050 10-YR US TSY YLD
US10YT=RR 3.991 -- 0.000 SPOT GOLD
XAU= $930.05 -0.30% -2.800 US CRUDE
CLc1 $145.33 0.03% 0.040 DOW JONES
.DJI 11288.54 0.65% 73.03 ASIA ADRS
.BKAS 145.47 0.57% 0.82
---------------------------------------------------------------
> US STOCKS-Energy shares, tame jobs data lift Dow
[.N] > Oil hits record over $145, up 50 percent this year
[O/R] > FOREX-Dollar gains broadly after job data, ECB remarks
[USD/] > TREASURIES-Short maturity debt gains on weak jobs
[US/] > Gold ends lower as dollar rise prompts selling
[GOL/] > SE Asian Stocks-Indonesia leads losses as coal firms
drop [.SO] > Computer glitch shuts Malaysia stock market
[ID:nKLR152193] > M'sia police vow to clamp down on fuel
protest [ID:nKLR264338] > Malaysia's DPM says met Anwar sodomy
accuser [ID:SP316161] > M'sia Anwar may emerge the hero in
sodomy saga [ID:nKLR211217] > Malaysia 2008 exports seen up 6
pct-minister [ID:nKLR257663] > US tech firms in M'sia see
slower sales growth [ID:nKLR250539] > Palm up on record crude
oil, China soyoil weighs [ID:nKLR75924] > OSK downgrades
Malaysia's Top Glove [ID:nKLA007723]
(Reporting by Faisal Aziz; Editing by Clarence Fernandez)
