KUALA LUMPUR (Nov 30): Hwang DBS Vickers Research said with Wall Street finishing mixed, stocks on Bursa Malaysia could surrender parts of its gains chalked up on Tuesday.
On Wall Street, its key equity indices posted changes of between -0.5% and +0.3% at the closing bell on Tuesday. The Dow Jones industrial average was up 32.62 points, or 0.28 percent, at 11,555.63. The Standard & Poor's 500 Indexwas up 2.64 points, or 0.22 percent, at 1,195.19. The Nasdaq composite index was down 11.83 points, or 0.47 percent, at 2,515.51.
As for Wednesday’s outlook, HDBSVR said the FBM KLCI – which hit a high of 1,458.0 before pulling back subsequently to settle at 1,444.72 on Tuesday – will probably show a negative bias ahead.
“There is a possibility that the benchmark index will back off from its immediate resistance level of 1,445 ahead,” it said.
Among the stocks that may succumb to selling activity today include those companies that have just announced disappointing quarterly earnings Tuesday evening such as Proton, WTK and BIMB.
On Wall Street, its key equity indices posted changes of between -0.5% and +0.3% at the closing bell on Tuesday. The Dow Jones industrial average was up 32.62 points, or 0.28 percent, at 11,555.63. The Standard & Poor's 500 Indexwas up 2.64 points, or 0.22 percent, at 1,195.19. The Nasdaq composite index was down 11.83 points, or 0.47 percent, at 2,515.51.
As for Wednesday’s outlook, HDBSVR said the FBM KLCI – which hit a high of 1,458.0 before pulling back subsequently to settle at 1,444.72 on Tuesday – will probably show a negative bias ahead.
“There is a possibility that the benchmark index will back off from its immediate resistance level of 1,445 ahead,” it said.
Among the stocks that may succumb to selling activity today include those companies that have just announced disappointing quarterly earnings Tuesday evening such as Proton, WTK and BIMB.
