Malaysian shares may soar: Traders

MALAYSIAN shares are expected to soar today to test the 890-point resistance level as a US government plan to soak up toxic debts pushed up Wall Street, which may resonate through Asian financial markets, traders said.
“Local shares are going to fly today and the composite index may hit the 900 points level this week as plantation counters get a leg up on better oil prices,” said a trader with a local investment bank.
“The same would go for the Umno-linked construction stocks such as UEM Land,” the trader said, referring the United Malays National Organisation, a key party in the government which will come under the formal control of Deputy Prime Minister Najib Razak this week. - Reuters