DJ MARKET TALK: KLCI Likely To Open Up, But Pft-Taking May Emerge

0049 GMT [Dow Jones] KLCI likely to open higher, taking cue from gains on Wall Street Friday (DJIA +1.0%) after U.S. payrolls data showed declining pace of job losses in August; "the overall mood among participants (investors) will still be positive ahead of July trade data (due out 1001 GMT)," says MIMB, but cautions risk of pullback increasing with market treading in overbought territory while volume traded has been contracting. "Major support levels are expected to hold at 1,160, 1,140 and finally 1,100 levels. Traders should accumulate long positions and hold for at least six months," says MIMB. Dealer at bank-backed brokerage says market's immediate term outlook positive; expects KLCI to head toward 1,200 psychological resistance this week, but cautions profit-taking into strength may cap rise beyond this level. KLCI ended +0.4 at 1,178.74 Friday. (VGB)