KUALA LUMPUR, March 24 (Reuters) - Following is a list of events in Malaysia as well as news stories and press reports which may influence financial markets.
(Reuters News welcomes your feedback and for any queries please contact David Chance in Kuala Lumpur editorial on +603 2333 8033 or via email at firstname.lastname@example.org or on Reuters messaging email@example.com) WHAT IS HAPPENING IN MALAYSIA, ALL TIMES LOCAL FOLLOWED BY GMT
- UMNO General Assembly and elections for the biggest party in the coalition that has ruled Malaysia for the past 51 years. The election of Najib Razak to the party presidency unopposed will happen on Thursday evening. On Tuesday it starts with a closed door briefing for delegates by Abdullah Ahmad Badawi. At 8.00 p.m.(1200GMT), Najib delivers policy speech as opening address to UMNO Youth, Women and Women's Youth wings.
- TM InternationalEGM at 0930 a.m. (0130 GMT) Shareholders will decide on the company's planned name change and plan to boost its capital base.
- Commodities Minister Peter Chin delivers keynote address at Asian Biofuels Roundtable 2009 at 0900 a.m. (0100GMT) MARKET SNAPSHOTS * STOCK MARKET [.KLSE]
Malaysian sharesare expected to soar on Tuesday to test the 890 point resistance level as a U.S government plan to soak up toxic debts pushed up Wall Street, which may resonate through Asian financial markets, traders said.
"Local shares are going to fly today and the composite index may hit the 900 points level this week as plantation counters get a leg up on better oil prices," said a trader with a local investment bank.
"The same would go for the UMNO-linked construction stocks such as UEM Land," the trader said, referring the United Malays National Organisation, a key party in the government which will come under the formal control of Deputy Prime Minister Najib Razak this week. * For global market news click on: [ID:nN23299471] * PALM FUTURES [POI/] - Malaysian crude palm oil futures rose 2.3 percent to their highest close in nearly six months on the back of fund buying, with stronger crude oil and soy prices weighing on sentiment, traders said.
The benchmark June contracton the Bursa Malaysia Derivatives Exchange rose 45 ringgit to 2,030 ringgit ($558) per tonne, the first time it closed above 2,000 ringgit since September. The previous high was 2,090 ringgit set on Sept. 30. * To see Malaysian central bank regular money market tenders issued at around 0930 local please click on the following link here * To see the top Islamic finance stories from Malaysia and elsewhere click on [ID:nISLAMIC]
----------------------MARKET SNAPSHOT @ 2304 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500822.92 7.08% 54.380 USD/JPY 96.94 -0.15% -0.150 10-YR US TSY YLD 2.6541 -- 0.000 SPOT GOLD 937.5 0.04% 0.350 US CRUDE 53.59 -0.39% -0.210 DOW JONES 7775.86 6.84% 497.48 ASIA ADRS 93.02 9.19% 7.83 KLSE 876.52 2.51% 21.48 RINGGIT 3.6410 -0.03% 0.01 ------------------------------------------------------------- FOR MALAYSIAN ECONOMIC INDICATORS CLICK ON [ID:nKLR417008] FOR REALTIME MALAYSIAN ECONOMIC INDICATORS, HIT KEY GLOBAL ECONOMIC NEWS, SEE [TOP/MACRO] TOP NEWS ON ASIAN COMPANIES [TOP/EQA] FOR ECONOMIC FX RELATED NEWS HIT [FXNEWS] FOR WHAT INVESTORS ARE SAYING ABOUT DEALS [DEALTALK/] STOCKS - BUY OR SELL? [BUYSELL/] IN THE NEWS REUTERS MALAYSIA (Click on [MY-RTRS]) - Malaysia bans opposition papers ahead of new PM [nKLR58581] - Malaysia rubber exports to fall 30 pct-govt agency [nSP402488] - Public Bank eyes 1 bln rgt initial debt issue [nKLR441331] ASIA MARKETS NEWS - Asian shares are set to surge on Tuesday, with financial stocks to be among the leaders, as the U.S. government's plan to absorb toxic debts met with investor approval. [STXNEWS/AS] - Asian currencies rose on Monday as the U.S. government's plans to shore up the ailing banking system boosted investors' interest in riskier assets, with the South Korean won and Indonesian rupiah leading the pack [EMRG/FRX] - Most Southeast Asian stock markets rose to multi-week highs on Monday, as Washington's plan to rid U.S. banks of toxic assets bolstered banking shares across the region [.SO] (Reporting by Kuala Lumpur newsroom)