KUALA LUMPUR, Sep 13 (Reuters) Malaysian shares are likely to be rangebound on Thursday, as investors weigh a possible U.S. interest-rate cut next week, but oil-related stocks could be lifted by record crude prices, a dealer and an analyst said.
Energy services firms such as Petra Perdana Bhd
National car-maker Proton
Trading in the broader market was expected to be muted.
''I expect the market to be directionless and volumes to be thin,'' said a dealer with a foreign brokerage. ''It will stay within this trading range.'' Resistance for the key share index was seen at 1,295 points and support at 1,280, said SBB Securities senior analyst Ng Jun Sheng.
On Wednesday, the benchmark Composite Index <.KLSE> edged 0.03 percent lower to 1,285.94 points. The September futures contract
U.S. stock indexes ended little changed on Wednesday as record oil prices lifted energy shares, but a disappointing outlook from Texas Instruments Inc.
The Dow Jones industrial average <.DJI> fell 0.13 percent to 13,291.65. The Standard&Poor's 500 Index <.SPX> rose just 0.07 point to 1,471.56 while the Nasdaq Composite Index <.IXIC> fell 0.21 percent to 2,592.07.
Reuters SZ VP0716