8.31 am - Malaysian stocks seen following global markets up

Malaysian stocks seen following global markets up KUALA LUMPUR, Sept 9 (Reuters) - Malaysian stocks are set to edge higher on Tuesday, boosted by hopes that the U.S. government's bailout of its mortgage giants will provide continued respite from turmoil in global financial markets. But dealers said gains could be restricted by some profit taking in financial stocks, such as Bumiputra Commerce ;, which gained 3.1 percent on Monday, outperforming the key Composite Index ; which closed up 0.50 percent. "There is no news inflow on the domestic front, so the market is likely to follow the international trend," said a local brokerage house dealer. "However, we can see some profit taking today, which could check the rise in the index," she said. Dealers said concerns on domestic politics may curb trading as investors await the Sept. 16 deadline set by Anwar Ibrahim, a former deputy premier and now the opposition leader, to topple the government. "Politics has been hurting the Malaysian market all year along, and investors would remain cautious at least until the outcome of this deadline, before formulating their future strategies," said another dealer. Malaysian stocks have shed more than a quarter of their value so far this year as foreign investors ditched Malaysian assets after a March 8 general election significantly changed the country's political landscape.