Malaysian shares set to fall on Wall St

KUALA LUMPUR, Jan 12 (Reuters) - Malaysian shares are set
for a soft start on Monday following Wall Street's fall as weak
U.S. job data fanned fears of a deepening recession.

"Asian markets are likely to move downward today as the
U.S. job numbers are looking really bad," said an institutional
dealer from a leading Malaysian brokerage.

"We expect profit-taking to continue in palm oil shares
since crude oil prices are not going anywhere," he added.

U.S. stocks fell on Friday after government data showed the
labor market deteriorated further in December, raising investor
concerns about the outlook for profits, spending and a
deepening recession. [.N]

The Dow Jones industrial average .DJI ended down 1.64
percent at 8,599.18 and the Standard & Poor's 500 Index .SPX
slid 2.13 percent to 890.35.

On Friday, Malaysia's benchmark stock index .KLSE ended
up 8.6 points or 0.94 percent to 919.1 points.

Malaysian carmaker Proton (PROT.KL) said that it may
consider selling a stake to a foreign carmaker, citing interest
from the U.S., Japan and India. There were talks to sell a
stake in 2007, but they collapsed.

Here are the factors that may affect Malaysian stocks on
Monday. -----------MARKET SNAPSHOT @ 00:19 GMT
----------------------

INSTRUMENT LAST PCT CHG NET CHG

S&P 500 .SPX 890.35 -2.13% -19.380

USD/JPY JPY= 90.13 -0.02% -0.020

10-YR US TSY YLD US10YT=RR 2.409 -- 0.010

SPOT GOLD XAU= $851.90 -0.20% -1.700

US CRUDE CLc1 $40.32 -1.25% -0.510

DOW JONES .DJI 8599.18 -1.64% -143.28

ASIA ADRS .BKAS 94.54 -2.39% -2.31
------------------------------------------------------------- >
Wall Street falls on job woe, Citi, Chevron, techs [.N]
> Oil falls 2 pct on U.S. unemployment data
[O/R] > Malaysia Dec palm stocks seen down 13pct from peak
[nKLR226426] > Malaysia AmBank says not eyeing smaller rivals
[nKLR426269] > Malaysia's Hong Leong gets Vietnam bank licence
[nKLR395327] > Malaysia's Nov factory output falls 7.7 pct
y/y [nKLA008115] > Small Indonesia smelters may resume work
by end-Jan[nJAK283337] > Australian insurer IAG bets on Asia
growth [nSYD42011] > Ethiopia dismisses threat against
oil explorers [nL9629146] > Palm ends firmer, off high, amid
caution on export data [POI/] > SEA Stocks-Energy results
worries hit Thailand [.SO] > Malaysia's Proton may
sell stake [nKLR417295] > Yen buoyed by risk
reversal, euro on defensive [USD/] > Bonds gain as
grim jobs data raises safety bids [US/] > Gold ends
tad down as dollar rises after jobs [GOL/]
(Reporting by Soo Ai Peng; Editing by David Chance)