KUALA LUMPUR (Nov 11): Hwang DBS Vickers Research said despite a positive overnight performance on Wall Street, it expected Asian investors to probably play cautious for the time being in view of the recent market volatilities
It said on Friday that overnight on Wall Street, key US stock indices ended between flat and up 1.0% following lower jobless claims and easing European debt concerns.
“This suggests that we may not see any major movements on our Malaysian bourse on the unique date of 11.11.11. The benchmark FBM KLCI could struggle to overcome the immediate support-turned-resistance level of 1,475 ahead,” it said.
HDBSVR said on the news front, Bank Negara Malaysia’s monetary policy committee is expected to leave interest rates unchanged at a meeting this evening.
The research house said stocks to watch on Friday included Benalec, which has secured reclamation projects (for undisclosed contract values) in Johor and also CI Holdings, after increasing the amount of cash distribution to RM5.10 per share (versus current share price of RM4.95).
GENTING BHD [] would see trading activity after Genting Singapore’s quarterly financial results broadly met expectations.
It said on Friday that overnight on Wall Street, key US stock indices ended between flat and up 1.0% following lower jobless claims and easing European debt concerns.
“This suggests that we may not see any major movements on our Malaysian bourse on the unique date of 11.11.11. The benchmark FBM KLCI could struggle to overcome the immediate support-turned-resistance level of 1,475 ahead,” it said.
HDBSVR said on the news front, Bank Negara Malaysia’s monetary policy committee is expected to leave interest rates unchanged at a meeting this evening.
The research house said stocks to watch on Friday included Benalec, which has secured reclamation projects (for undisclosed contract values) in Johor and also CI Holdings, after increasing the amount of cash distribution to RM5.10 per share (versus current share price of RM4.95).
GENTING BHD [] would see trading activity after Genting Singapore’s quarterly financial results broadly met expectations.
