KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) anticipates that a cautious mood will likely prevail on the Malaysian bourse on Friday, Oct 21.
It said on the chart, the benchmark FBM KLCI will probably swing sideways with a slight positive bias ahead but may struggle to overcome the immediate resistance level of 1,445.
”Essentially, sentiment is expected to be clouded by mixed signals from abroad. While there are talks that a larger rescue fund size is in the making to settle the European sovereign debt crisis, news that a subsequent meeting would now be held next Wednesday after a scheduled summit on this Sunday could suggest that a comprehensive plan may not be reached anytime soon,” it said.
HDBSVR said against the uncertain outlook, Gamuda and MMC shares will possibly be in the limelight on news their consortium is the only Malaysian company out of five parties which have been pre-qualified to bid for the MRT tunneling project.
It said on the chart, the benchmark FBM KLCI will probably swing sideways with a slight positive bias ahead but may struggle to overcome the immediate resistance level of 1,445.
”Essentially, sentiment is expected to be clouded by mixed signals from abroad. While there are talks that a larger rescue fund size is in the making to settle the European sovereign debt crisis, news that a subsequent meeting would now be held next Wednesday after a scheduled summit on this Sunday could suggest that a comprehensive plan may not be reached anytime soon,” it said.
HDBSVR said against the uncertain outlook, Gamuda and MMC shares will possibly be in the limelight on news their consortium is the only Malaysian company out of five parties which have been pre-qualified to bid for the MRT tunneling project.
