KUALA LUMPUR (Nov 22): Hwang DBS Vickers Research (HDBSVR) sees selling pressure continuing to weigh on Asian markets including Malaysia on Tuesday after the overnight fall on Wall Street.
It said US stocks fell, with key equity indices tumbling between 1.9% and 2.1% amidst the deadlock in the US congressional deficit talks.
Other regional stock exchanges also ended weaker, possibly due to the on-going concerns over the European debt crisis which may drag global economic outlook.
“Back home, we expect selling pressures for our benchmark FBM KLCI to continue today amidst the bearish external sentiments. Technically speaking, the immediate support level is now seen at 1,415,” it said.
HDBSVR said in terms of corporate news flows, counters that may attract increased trading interest today include: (a) Malaysia Airports, following a news report that its KLIA2 may face cost overruns, (b) Harvest Court, as Mohd Nazifuddin Najib, resigned as a director of the company, (c) Malaysian Airline System, after reporting its 3rd consecutive quarterly loss on Monday night.
It said US stocks fell, with key equity indices tumbling between 1.9% and 2.1% amidst the deadlock in the US congressional deficit talks.
Other regional stock exchanges also ended weaker, possibly due to the on-going concerns over the European debt crisis which may drag global economic outlook.
“Back home, we expect selling pressures for our benchmark FBM KLCI to continue today amidst the bearish external sentiments. Technically speaking, the immediate support level is now seen at 1,415,” it said.
HDBSVR said in terms of corporate news flows, counters that may attract increased trading interest today include: (a) Malaysia Airports, following a news report that its KLIA2 may face cost overruns, (b) Harvest Court, as Mohd Nazifuddin Najib, resigned as a director of the company, (c) Malaysian Airline System, after reporting its 3rd consecutive quarterly loss on Monday night.
