KUALA LUMPUR (Nov 3): Hwang DBS Vickers Research (HDBSVR) said the steadier overnight close on Wall Street may lift share prices on Bursa Malaysia on Thursday.
The benchmark FBM KLCI will probably rise to challenge the immediate resistance level of 1,475 ahead, it said.
HDBSVR said overnight, major equity indices on Wall Street rebounded between 1.3% and 1.6% overnight, boosted by stronger US economic fundamentals.
According to the U.S. Federal Open Market Committee, the U.S. economy had strengthened in 3Q11 but there remain significant downside risks to the outlook, which prompted the policymakers to indicate that they are ready to employ new tools if required to promote a stronger economic recovery.
At Bursa Malaysia, it said the steadier external backdrop may lift share prices on Bursa.
HDBSVR said one counter that is expected to be in the limelight today is Parkson Holdings. The listing of its subsidiary Parkson Retail Asia in Singapore this morning could set a new valuation benchmark for the Malaysian-listed parent going forward.
The benchmark FBM KLCI will probably rise to challenge the immediate resistance level of 1,475 ahead, it said.
HDBSVR said overnight, major equity indices on Wall Street rebounded between 1.3% and 1.6% overnight, boosted by stronger US economic fundamentals.
According to the U.S. Federal Open Market Committee, the U.S. economy had strengthened in 3Q11 but there remain significant downside risks to the outlook, which prompted the policymakers to indicate that they are ready to employ new tools if required to promote a stronger economic recovery.
At Bursa Malaysia, it said the steadier external backdrop may lift share prices on Bursa.
HDBSVR said one counter that is expected to be in the limelight today is Parkson Holdings. The listing of its subsidiary Parkson Retail Asia in Singapore this morning could set a new valuation benchmark for the Malaysian-listed parent going forward.
