US/MALAYSIA MARKET MORNING QUOTES

MALAYSIA MARKET

Malaysian shares to rebound on Wall St, China rate cut

KUALA LUMPUR, Nov 27 (Reuters) - Malaysian shares are set to rise on Thursday following sharp gains on Wall Street and after China slashed interest rates to stimulate the world's fourth largest economy.

 "I think the market should move upward today, we are looking at the 885 points level as the immediate resistance for the main index," said a technical analyst from a leading Malaysian brokerage.

 "We expect plantation stocks to gain also after a sharp rebound in crude oil prices," he added.

 China's Wednesday cut in banks' benchmark lending and deposit rates by 108 basis points came a day after the World Bank said Chinese growth next year would be around 7.5 percent, the slowest rate since 1990.

 Elsewhere, hopes of a General Motors bailout sent U.S. stocks up by more than 2 percent in trading on Wednesday. The Dow Jones industrial average jumped 2.91 percent to 8,726.61 while the Standard & Poor's 500 Index .SPX gained 3.53 percent to 887.68.

 Malaysia's main share index closed 0.44 percent lower on Wednesday at 856.37 points.

 Among the stocks to watch, Telekom Malaysia may extend gain after TM International said it has secured a 2 billion Malaysian ringgit ($552.5 million) 3-year term loan to repay part of the 4 billion ringgit it owe to Telekom.

 Investors have been hoping that Telekom will pay out special dividends with the repayments from TM International.

US MARKET

Dow, S&P 500 Clinch 4th Straight Winning Session

A stock market gaining confidence in the nation's financial system bolted higher Wednesday, propelling the Dow Jones industrials and Standard & Poor's 500 index to their first four-day advance since last spring.

The market reversed losses from earlier in the session after President-elect Barack Obama pledged he would have a plan to deal with the nation's economic crisis on his first day in office. After filling more spots to his economic team, Obama stated that "help is on the way”.

Analysts saw encouraging signs in the rally, but they were still cautious given months of extreme market volatility.

"Sentiment has turned slightly more positive over the past few days with some of the government packages in the U.S. and the stimulus programs that have been announced," said Michael Sheldon, chief market strategist at RDM Financial Group. "That might help turn the tide."

"What we're seeing in the market is basically a light-volume shrugging off of bad news, which is very encouraging in the short term," said Sal Arnuk, co-head of equity trading at Themis Trading LLC.

The Dow industrials rose 247.14, or 2.91 percent, 8,726.61. The Dow has not had four straight gains since April 15-18; its advance is its biggest since 1932, during the Depression.

The market's performance in recent sessions has been a show of stability as stocks have generally traded with less volatility than they had in the past three months as the market's yearlong pullback intensified. But analysts remain cautious about how long the calm will last.

"I don't think its a sign of longer-term stability, but feel this is a sign of shorter-term stability," said Todd Salamone, director of trading and vice president of research at Schaeffer's Investment Research in Cincinnati. "There's just too much uncertainty out there."