Malaysia Shares End +0.6; 1320 Resistance

DJ MARKET TALK: Malaysia Shares End +0.6; 1320 Resistance - MIBB
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0916 GMT [Dow Jones] Malaysia shares end higher with benchmark KLCI +0.6% at 1307.08, rebounds from 1294.37 intraday low, tracking gains in regional markets. "Investors are taking the opportunity to bargain-hunt after a few days of losses... but concerns over the global economy remain," says dealer. Volume thin at 568 million shares. Maybank analyst Lee Cheng Hooi recommends "sell on rallies" strategy for KLCI, tips next resistance at 1320, support at 1297. Market breadth positive with 403 advancers vs 195 decliners. Tanjong (2267.KU) +2.1% at MYR17.50, MISC (3816.KU) +1.7% at MYR8.61, UMW (4588.KU) +1.6% at MYR6.34; Sime Darby (4197.KU) down 1.1% at MYR7.50, Sunway City (6289.KU) down 1.6% at MYR3.70.

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