=MARKET BUZZ: Malaysia's KLCI Likely Lower On Profit Taking; 1855 Support Tipped
KUALA LUMPUR (Apr 17) -- Malaysia's KLCI likely to move lower on profit taking; index ended 0.6% higher at 1878.76 yesterday. Overnight Dow Jones up 0.9%, on optimism over first-quarter earnings and as international political tensions eased. Europe stock prices fell. Brent fell 1.6% to $71.42 a barrel on expectations neither Russia nor Iran would retaliate for the strikes. "Stocks should ease into profit-taking consolidation today, save for oil & gas related stocks which could outperform given the lingering geopolitical risks in Syria," says TA Securities in investor note; tips support at 1855. "Key resistance for the index remains the 2 Feb peak of 1880 which should see profit-taking restricting upside," adds house.
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