KUALA LUMPUR (Dec 12): Hwang DBS Vickers Research expects the FBM KLCI to likely recoup part of its cumulative loss of 28.9-point (or 1.9%) last week as it will likely climb towards the immediate resistance line of 1,475 ahead.
It said on Monday the positive sentiment would be underpinned by the recovery on Wall Street last Friday when its key stock indices jumped between 1.6% and 1.9% at the closing bell.
The firmer close on Wall Street was supported by a pact reached by the European countries for deeper economic integration as well as a proposal to boost a rescue fund size.
“While the latest developments may not mean the eurozone has already found a solution to its sovereign debt problems, we reckon Asian equities – including Malaysia – could be in for a technical rebound today,” it said.
HDBSVR said among the counters that may ride on a market bounce-up today include: (a) Proton shares, after its adviser Tun Dr Mahathir Mohamad was quoted as saying that Khazanah would be selling its controlling stake in Proton to DRB-Hicom at above market price with a general offer likely to be made; and (b) MBSB, after its CEO reportedly said it should be able to achieve a pretax-profit of RM500 million next year instead of 2015 as previously planned.
It said on Monday the positive sentiment would be underpinned by the recovery on Wall Street last Friday when its key stock indices jumped between 1.6% and 1.9% at the closing bell.
The firmer close on Wall Street was supported by a pact reached by the European countries for deeper economic integration as well as a proposal to boost a rescue fund size.
“While the latest developments may not mean the eurozone has already found a solution to its sovereign debt problems, we reckon Asian equities – including Malaysia – could be in for a technical rebound today,” it said.
HDBSVR said among the counters that may ride on a market bounce-up today include: (a) Proton shares, after its adviser Tun Dr Mahathir Mohamad was quoted as saying that Khazanah would be selling its controlling stake in Proton to DRB-Hicom at above market price with a general offer likely to be made; and (b) MBSB, after its CEO reportedly said it should be able to achieve a pretax-profit of RM500 million next year instead of 2015 as previously planned.
