US/MALAYSIA MARKET MORNING QUOTES

MALAYSIA MARKET

Malaysian stocks seen opening lower

MALAYSIAN stocks are expected to open lower today, giving up some of the gains posted this year, after US stocks suffered their worst decline in more than a month as economic worries resurfaced.
One dealer said plantation stocks would lead the fall in the local market.
Malaysia’s benchmark stock index gained 0.6 per cent to 927.6 points yesterday. So far this year, the index has risen 5.2 per cent, tracking gains in global markets.
The Dow Jones industrial average fell 2.7 per cent, while the Standard & Poor’s 500 Index shed 3 per cent yesterday. - Reuters

US MARKET

Stocks Tumble as Companies Warn of Weak Results

A warning from tech giant Intel about poor business conditions and more evidence of rising unemployment left stocks with their biggest losses in a month Wednesday.

The news upended some investors' hopes for a speedy economic recovery this year and sent the major stock indexes down more than 2.5 percent, including the Dow Jones industrials, which lost 245 points.

But unlike the panicked declines seen last fall, Wednesday's pullback was more orderly and stocks finished off their lowest levels of the session. Some retrenchment had been expected following sharp gains in recent sessions and a 24.2 percent rally in the Standard & Poor's 500 index since Nov. 20 ahead of Wednesday's slide.

"Nothing goes straight up or straight down," said Keith Springer, president of Capital Financial Advisory Services. "You do have some people who get skittish and start taking some profits, but I don't think the up trend has been broken here