HDBSVR sees KLCI taking a breather


KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) expects the FBM KLCI which rose 41.7 points or 2.6% over the past 12 days to close at a new all-time high of 1,635.96 on Monday, could pause for a breather soon.

It said on Tuesday that, if so, the KLCI was expected to back off slightly from its immediate resistance line of 1,635 ahead. “Essentially, buyers may want to take a break in the absence of fresh positive catalysts,” according to the research house in its market outlook report.

Overnight on Wall Street, major U.S. equity indices slipped between 0.2% and 0.4% as disappointing retail sales had caused concerns over the recovery pace in the world's largest economy. HDBSVR said at Bursa Malaysia, companies which would probably attract investors' interests would include Media Chinese International after it proposed to reward its shareholders with a special dividend of 41 sen per share.

Puncak Niaga (which holds a 70% stake in Syabas) may be in the limelight after the Selangor state government said it wanted to take over the management of the water supply and distribution company.

Meanwhile, OCK Group would make its debut on the ACE Market. The offer price was 36 sen per share.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Serba Dinamik former chairman Mohamed Nor resigns�
Berjaya Corp denies involvement with Berjaya Investment, warns of scam
WTI-Brent spread narrows as oil market tightens
Ace market bound Nestcon IPO oversubscribed by 57 times
Rubberex proposes RM78.6mil share placement for capacity expansion�
George Kent posts 14-month net profit of RM48.7mil
FBM KLCI falls 16.81 points; 784 stocks in red
Serba Dinamik denies Abu Dhabi contract is a RPT
Record net profit for Comfort Gloves
Cryptocurrencies tumble amid China crackdown on bitcoin miners

Stories You'll Enjoy


Vouchers