TA Securities expects the positive sentiment globally will further help property and construction stocks to slightly recover after their recent losses.
STOCKS on Bursa Malaysia are likely to extend its gains this week, underpinned by the recent strong performance on Wall Street and news of an European plan to address Greece's debt issues.
The news are expected to bring cheer to the local market and help boost investors' appetite.
Investors will price in the stronger US and European economies as well as the reduced banking crisis risk in both continents in their investment strategy.
Wall Street held its gains from Thursday's big rally and ended with the fifth straight week of advances last week. As for Europe, it has expanded a bailout facility and recapitalise the region's biggest banks in efforts to rescue Greece.
At home, the uptrend news on the global front is expected to help push the benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) to a possible 1,524 level, the highest level recorded in 2008 before the subprime crisis.
The FBM KLCI was up 114.3 points from 1,367.52 on October 3 to end 1,481.82 last Friday. For last week, the main index was up 30.9 points, or 2.19 per cent.
Bursa Malaysia was closed on Wednesday for the Deepavali holiday.
TA Securities senior technical analyst Stephen Soo said the key index is expected to strengthen, boosted by rising appetite in riskier assets. "We foresee the positive sentiment globally will further help property and construction stocks to slightly recover after their recent losses," he added.
Despite the positive views, OSK director and research head Chris Eng warned that the market is still in defensive position and investors will remain cautious amid the uncertain global economic outlook.
"There is a possibility the market will dip if the index reaches the 1,500 level, due to selling pressure," he added.
Week-on-week, the FBM KLCI advanced 42.99 points to 1,481.82 against the previous Friday's closing of 1,438.83. Total volume declined 6.03 billion shares worth RM7.10 billion from 7.40 billion shares worth RM6.58 billion before.
Main Market turnover fell 4.67 billion units worth RM6.94 billion from 5.49 billion units worth RM6.362 billion previously.
Among stocks in focus this week are Tenaga Nasional after it announced a fourth-quarter net loss of RM453.90 million, the second consecutive quarter of losses, last Friday. Others include Tasek Corp Bhd, Cycle & Carriage Bhd and SILK Holdings Bhd.
STOCKS on Bursa Malaysia are likely to extend its gains this week, underpinned by the recent strong performance on Wall Street and news of an European plan to address Greece's debt issues.
The news are expected to bring cheer to the local market and help boost investors' appetite.
Investors will price in the stronger US and European economies as well as the reduced banking crisis risk in both continents in their investment strategy.
Wall Street held its gains from Thursday's big rally and ended with the fifth straight week of advances last week. As for Europe, it has expanded a bailout facility and recapitalise the region's biggest banks in efforts to rescue Greece.
At home, the uptrend news on the global front is expected to help push the benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) to a possible 1,524 level, the highest level recorded in 2008 before the subprime crisis.
The FBM KLCI was up 114.3 points from 1,367.52 on October 3 to end 1,481.82 last Friday. For last week, the main index was up 30.9 points, or 2.19 per cent.
Bursa Malaysia was closed on Wednesday for the Deepavali holiday.
TA Securities senior technical analyst Stephen Soo said the key index is expected to strengthen, boosted by rising appetite in riskier assets. "We foresee the positive sentiment globally will further help property and construction stocks to slightly recover after their recent losses," he added.
Despite the positive views, OSK director and research head Chris Eng warned that the market is still in defensive position and investors will remain cautious amid the uncertain global economic outlook.
"There is a possibility the market will dip if the index reaches the 1,500 level, due to selling pressure," he added.
Week-on-week, the FBM KLCI advanced 42.99 points to 1,481.82 against the previous Friday's closing of 1,438.83. Total volume declined 6.03 billion shares worth RM7.10 billion from 7.40 billion shares worth RM6.58 billion before.
Main Market turnover fell 4.67 billion units worth RM6.94 billion from 5.49 billion units worth RM6.362 billion previously.
Among stocks in focus this week are Tenaga Nasional after it announced a fourth-quarter net loss of RM453.90 million, the second consecutive quarter of losses, last Friday. Others include Tasek Corp Bhd, Cycle & Carriage Bhd and SILK Holdings Bhd.
