US/MALAYSIA MARKET MORNING QUOTES

MALAYSIA MARKET

Malaysian shares seen up; IOI, Genting in focus

KUALA LUMPUR, Nov 28 (Reuters) - Malaysian shares may extend gains on Friday, taking cue from European markets' firmer performance.

 "I think the market will be firmer today. Although there's no trading in the U.S. markets, sentiment may get a boost after European markets closed higher," said TA Securities technical analyst Stephen Soo.

 The technical outlook for the local market has improved following stronger close on Thursday, said the analyst.

 "I look at the 880 points as the next resistance. We have seen trading volumes improving since Thursday's rise and the upside has definitely improved," he added.

 U.S. markets were closed on Thursday for the Thanksgiving holiday.

 In Europe, The FTSEurofirst 300 index of top European shares rose 2.6 percent to close at 852.38 points. The index has risen 12 percent this week, but has fallen more than 43 percent so far this year.

 Malaysia's main share index  gained 1.6 percent to close at 869.98 points.

 Among the stocks to watch, gaming-to-power Genting may come under pressure after the company said it swung to a loss of 40.38 million ringgit for the third-quarter hit by bad debt and forex losses from its UK casino operations.

IOI Corp may also be in focus after the plantation-to-property group scrapped a $162 mln plan to buy a commercial building in the city centre due to the weakening global economic outlook.

 Sentiment in Engineering firm Scomi may be affected by the Mumbai attacks as a joint venture of the company had recently been awarded a monorail system contract in the Indian financial centre.

 Cement maker Tasek may rise when the stock resumes trading on Friday after its major shareholder made a buyout offer the rest of the company at 3.80 ringgit a share.

US MARKET

Closed for Thanksgiving Holoday.