MORE UPDATE

Markets in Asia were mixed Thursday as concerns on higher interest rates dragged most benchmarks into the negative territory. But Chinese shares extended a rebound from sharp losses earlier in the week after reports doused speculation over a possible capital gains tax. The benchmark Shanghai Composite Index rose 3% to 3,890.80. The Shenzhen Composite Index of China's second, smaller market jumped 3.7% to 1,126.84.

KLCI likely stay in 1360-1370 range tomorrow in cautious trade with retail investors seeking to unwind positions and lock-in profits ahead of the weekend. Benchmark ended down 0.6% at 1364.41, weighed down by steep decline in U.S. stocks overnight but bargain hunting on dips helped narrow losses. No doubt investors will be closely monitoring the performance of the DJIA tonight but trading bias is likely to be on the sell side. Oil & gas sector, plantation stocks and government-linked construction and property stocks may attract bargain hunting on any weakness tomorrow.

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