US/MALAYSIA MARKET MORNING QUOTES

MALAYSIA MARKET

Malaysian stocks seen gaining on U.S. rally

KUALA LUMPUR, Nov 24 (Reuters) - Malaysian shares are expected to open higher on Monday, mirroring gains on Wall Street, after stocks were battered last week on ongoing fears about the global economic slowdown.

 On Friday, U.S. stocks closed higher in a late rally on reports President-elect Barack Obama had chosen his point person to combat the U.S. economic crisis.

The Dow Jones Industrial average .DJI jumped 494.13 points, or 6.54 percent, to 8,046.42. The Standard & Poor's 500 Index .SPX shot up 47.59 points, or 6.32 percent, at 800.03.

The Nasdaq Composite Index climbed 68.23 points, or 5.18 percent, 1,384.35.

 "We expect the market to trend higher, but gains are unlikely to be significant. Investors are still worried about the slowdown in the global economy," said a dealer at a local bank-backed brokerage.

 "Basically, nothing has changed. Wall Street was just looking for a reason to reverse the downward trend," she said.