Malaysian stocks seen lower amid US bailout fears

Malaysian stocks are set to fall on Thursday as uncertainty about when Congress might approve a proposed $700 billion U.S. financial sector bailout increased concerns that global financial turmoil will continue.

These concerns saw the Dow Jones and S&P indexes fall, although the Nasdaq gained on hopes of higher spending on technology.

'The market is closely following the Dow,' said a dealer at a local brokerage house.

However, dealers said plantation stocks, such as Sime Darby and IOI Corp, may rise as palm oil prices have gained slightly.

Here are news stories and factors that may affect the Malaysian stock market on Thursday.

----------------------MARKET SNAPSHOT @ 2354 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG

S&P 500 1185.87 -0.2% -2.350

USD/JPY 106.05 -0.18% -0.190

10-YR US TSY YLD 3.809 -- -0.013

SPOT GOLD 881.60 0.07% 0.600

US CRUDE 105.45 -0.26% -0.280

DOW JONES 10825.17 -0.27% -29.00

ASIA ADRS 128.44 1.65% 2.08

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> Malaysia orders tests on imported China food

> Malaysia Anwar calls for patience in power bid

> Malaysia cuts fuel cost as inflation stays high

> Palm recovers slightly as oil supports vegoils

> Malaysia's Petra Energy wins 1.1 bln rgt job

> Vietnam ABBank boosts capital base by 17.8 pct

> SE Asian Stocks-Mostly edge up after Buffett move

> US STOCKS-Bailout worries hit Dow, S&P, techs help Nasdaq

> Oil falls on demand worries

> FOREX-US dollar rises in choppy trading, yen falls

> TREASURIES-T-bill rates tumble on money market stress

> Gold rises on investor jitters, record ETF holding