KUALA LUMPUR (Dec 6): Hwang DBS Vickers Research said the benchmark FBM KLCI may find more strength to move upward on Tuesday, trading within a wider band than Monday.
It said that on the chart, its immediate resistance level stands at 1,500 currently.
Giving the regional bourses as well as Malaysian bourse a boost is the positive closing on the Wall Street last night.
Key equity indices ended the day between 0.7% and 1.1% lifted by optimism that Europe will resolve its debt crisis.
HDBSVR said it expects to see continued interest in the trading of Proton Holdings and DRB-Hicom shares.
News reports said three parties -- Tan Sri Syed Mokhtar AlBukhary’s DRB-HICOM BHD [], several key shareholders linked to the Naza Group and Proton chairman Datuk Mohd Nadzmi Mohd Salleh, have submitted a bid to Khazanah Nasional Bhd on Monday to seek control of Proton. The bids were in the range of RM6.00-RM7.00/share.
Another stock name that could be of interest is Hiap Teck Venture as its 55%-owned Eastern Steel Sdn Bhd has been granted a licence by the Terengganu government to mine iron ore on a 243ha site near Bukit Besi.
It said that on the chart, its immediate resistance level stands at 1,500 currently.
Giving the regional bourses as well as Malaysian bourse a boost is the positive closing on the Wall Street last night.
Key equity indices ended the day between 0.7% and 1.1% lifted by optimism that Europe will resolve its debt crisis.
HDBSVR said it expects to see continued interest in the trading of Proton Holdings and DRB-Hicom shares.
News reports said three parties -- Tan Sri Syed Mokhtar AlBukhary’s DRB-HICOM BHD [], several key shareholders linked to the Naza Group and Proton chairman Datuk Mohd Nadzmi Mohd Salleh, have submitted a bid to Khazanah Nasional Bhd on Monday to seek control of Proton. The bids were in the range of RM6.00-RM7.00/share.
Another stock name that could be of interest is Hiap Teck Venture as its 55%-owned Eastern Steel Sdn Bhd has been granted a licence by the Terengganu government to mine iron ore on a 243ha site near Bukit Besi.
