KUALA LUMPUR: Hwang DBS Vickers Research said there was no comprehensive plan to resolve the European sovereign debt crisis following a high-profile summit on Wednesday, Oct 26.
The research house said on Thursday while an agreement to recapitalise the European banks has been reached, no announcement was made on the write-down of Greece’s sovereign debt and the boosting of a rescue fund size for the region.
Still, key U.S. equity indices jumped between 0.5% and 1.4% Wednesday night due to better U.S. economic data and hopes that the European problems would be solved eventually.
“This may give a short-term boost to Asian equities today. Our Malaysian bourse will likely climb too with its benchmark FBM KLCI rising towards its immediate resistance target of 1,475,” it said.
Hwang DBS Vickers Research said among the stocks that could attract buying interest include Hibiscus Petroleum, which has proposed to pay US$55 million for a 35% stake in Lime with interest in three companies that have concession rights in offshore oil & gas exploration assets in the Middle East.
The research house said on Thursday while an agreement to recapitalise the European banks has been reached, no announcement was made on the write-down of Greece’s sovereign debt and the boosting of a rescue fund size for the region.
Still, key U.S. equity indices jumped between 0.5% and 1.4% Wednesday night due to better U.S. economic data and hopes that the European problems would be solved eventually.
“This may give a short-term boost to Asian equities today. Our Malaysian bourse will likely climb too with its benchmark FBM KLCI rising towards its immediate resistance target of 1,475,” it said.
Hwang DBS Vickers Research said among the stocks that could attract buying interest include Hibiscus Petroleum, which has proposed to pay US$55 million for a 35% stake in Lime with interest in three companies that have concession rights in offshore oil & gas exploration assets in the Middle East.
