US/MALAYSIA MARKET MORNING QUOTES

MALAYSIA MARKET

Malaysian shares seen flat

MALAYSIAN shares are expected to open little changed in thin holiday trading today after US stocks extended losses overnight.
“Stocks should extend range-bound trade amid weak investor participation ahead of the Christmas holiday tomorrow,” said research firm TA Securities in its morning note.
Malaysia’s benchmark stock index closed yesterday 0.26 per cent lower at 871.16.
“The bearish external lead from further drop in overnight US markets given concerns over the viability of the US auto industry, plunging home prices and worsening recession should act to dampen sentiment in the near term,” said TA.

US stocks fell yesterday on further deterioration in the housing market, while worry over weak consumer spending hurt retailers in the final stretch of the Christmas shopping season.
The Dow Jones industrial average shed 100.28, or 1.18 per cent, to 8,419.49. - Reuters

US MARKET

Dow Falls for 5th Straight Session on Grim Data

Wall Street pulled back again Tuesday in muted trading ahead of the holiday, as another round of reports showed further deterioration in the housing market and broader economy.

The reports offered Wall Street no reason to be upbeat, however, and the concern remains that the economy will keep weakening well into the new year. That anxiety is sapping the hope for a year-end rally in the Dow, which is has fallen 36.5 percent since 2008 began.

The Dow Jones industrial average shed 100.28, or 1.18 percent, to 8,419.49.