KUALA LUMPUR: Hwang DBS Vickers Research said major US equity indices jumped between 0.9% and 1.3% on Monday, Oct 24, lifted by higher-than-expected earnings from Caterpillar and improved market sentiment on optimism that EU is progressing to resolve the region’s sovereign debt crisis.
It said on Tuesday, taking cue from the gains on Wall Street and European markets, our benchmark FBM KLCI will probably extend its recovery.
“Nevertheless, the key barometer is unlikely to break through the immediate resistance hurdle of 1,475 anytime soon,” it said.
HDBSVR said in terms of individual corporate development, SP Setia will probably attract some attention, following the announcement that it has entered into a privatization deal with the KL mayor for the development of 25 acres in Kampung Haji Abdullah Hukum in KL which has a potential gross development value of RM6 billion.
It said on Tuesday, taking cue from the gains on Wall Street and European markets, our benchmark FBM KLCI will probably extend its recovery.
“Nevertheless, the key barometer is unlikely to break through the immediate resistance hurdle of 1,475 anytime soon,” it said.
HDBSVR said in terms of individual corporate development, SP Setia will probably attract some attention, following the announcement that it has entered into a privatization deal with the KL mayor for the development of 25 acres in Kampung Haji Abdullah Hukum in KL which has a potential gross development value of RM6 billion.
