KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) expects the FBM KLCI, which rose 22.7 points or 2.8% last week, may slip Monday in the absence of follow-through buying interest.
"On the chart, the benchmark FBM KLCI could drop below its immediate support line of 1,670 ahead," it said on Monday. HDBSVR said that trading volume, which was 610 million shares last Friday, was expected to remain thin pending the emergence of fresh market developments. This comes as Wall Street was closed for a public holiday last Friday. The research house said against the quiet market backdrop, companies which might be in the limelight include domestic-based car manufacturers like MBM Resources, Tan Chong and DRB-Hicom.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
