NEW YORK, Aug 8 (Reuters) - The Standard & Poor's 500 just barely extended a streak of gains to a fourth day on Wednesday, ending above 1,400 in another thinly traded session.
Expectations for stimulus from the European Central Bank and the U.S. Federal Reserve triggered the recent gains, but investors found little reason to keep pushing stocks higher after driving the market to three-month highs.
The FBM KLCI closed higher on Wednesday but its gains were capped as regional markets mostly paused while European markets retreated.
On the local front, Fitch Ratings said Malaysia faced rising negative fiscal pressures that may eventually offset existing credit strengths unless structural weaknesses in the public finances are addressed. In a report published on Wednesday, Fitch said Malaysia's trade openness and existing relatively high public debt stock would leave its credit profile exposed to a potentially sharp increase in public debt ratios in the event of an interest rate or growth shock, although this is not the agency's base case.
FKLI opened at 1639 yesterday and closed lower at 1635. Immediate Resistance was expected around 1645 yesterday.
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