Malaysia's KLCI Up 0.7%; Immediate Resistance At 1,634

Malaysia's KLCI Up 0.7%; Immediate Resistance At 1,634

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Malaysia shares are trading higher in line with other Asian markets after China's factory output and retail sales data topped expectations, firming hopes for an economic recovery in China, which is Malaysia's largest trading partner. The KLCI is 0.7% higher at 1629.26, led by blue-chip stocks. Gainers outpace laggards 206 to 154, while 212 stocks remain unchanged. "There are not enough local drivers and the market will continue to take cues from developments overseas," says local dealer, who tips immediate resistance at 1,634.