KUALA LUMPUR: Hwang DBS Vickers Research said while all eyes will be on the European Union summit climax on Wednesday, Oct 26, it reckons that the benchmark FBM KLCI will probably trade sideways with a slight positive bias on Monday.
“However, we think the benchmark index is unlikely to break through the immediate resistance level of 1,445,” it said.
HDBSVR said on Wall Street, Key US indices climbed between 1.5% and 2.3% last Friday, rallying ahead of the EU’s two-leg summit amid expectations that the summit will lead to a comprehensive plan to fight the region’s deepening sovereign debt crisis.
At Bursa Malaysia, among the counters that will likely attract added interest today include: (a) DAMANSARA REALTY BHD [], after the media reported that Johor Corp is looking to inject some of its property assets into the 58%-owned subsidiary; and (b) Dayang, following its announcement that it has been awarded a contract extension from Murphy Sarawak, estimated at RM50 million to RM100 million.
“However, we think the benchmark index is unlikely to break through the immediate resistance level of 1,445,” it said.
HDBSVR said on Wall Street, Key US indices climbed between 1.5% and 2.3% last Friday, rallying ahead of the EU’s two-leg summit amid expectations that the summit will lead to a comprehensive plan to fight the region’s deepening sovereign debt crisis.
At Bursa Malaysia, among the counters that will likely attract added interest today include: (a) DAMANSARA REALTY BHD [], after the media reported that Johor Corp is looking to inject some of its property assets into the 58%-owned subsidiary; and (b) Dayang, following its announcement that it has been awarded a contract extension from Murphy Sarawak, estimated at RM50 million to RM100 million.
