03/05/2013| 08:08pm US/Eastern
0052 GMT [Dow Jones] Malaysian shares are likely to edge higher tracking Tuesday’s gains in U.S. equities. However, speculation over the date of the forthcoming elections is likely to cap any sharp rise. The benchmark KLCI ended 0.4% higher at 1642.08 Tuesday. “We expect local funds to continue bargain buying,” says a local dealer, who tips immediate resistance at 1650. Stocks which are expected to be in focus include Alam Maritim Resources (5115.KU) after its unit won two contracts worth about MYR25 million and plantation plays following ongoing standoff between the security forces and Muslim Filipinos in the Sabah province. (abhrajit.gangopadhyay@dowjones.com)
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