KUALA LUMPUR (Dec 1): Hwang DBS Vickers Research expects market sentiment to be buoyed by the positive overseas developments on Wednesday night.
On Wall Street, key U.S. equity bellwethers jumped between 4.2% and 4.3% at the closing bell after central banks in the US, Europe, UK, Canada, Japan and Switzerland took coordinated actions to lower the cost of US dollar borrowings.
“Such a powerful rally on Wall Street will surely reverberate across Asia today. Back home, the benchmark FBM KLCI will likely build on its two-day cumulative gains of 40.6-point or 2.8%, possibly overcoming the immediate resistance level of 1,475 ahead,” it said.
HDBSVR said looking to rise in tandem with the broad market today are index-linked laggards like Sime Darby, Public Bank and Tenaga.
Meanwhile, smaller cap companies such as ECM Libra (on news that its investment bank business would be acquired by K&N Kenanga) and PJI Holdings (after securing contracts worth RM60 million) may benefit from an increase in buying interest too.
On Wall Street, key U.S. equity bellwethers jumped between 4.2% and 4.3% at the closing bell after central banks in the US, Europe, UK, Canada, Japan and Switzerland took coordinated actions to lower the cost of US dollar borrowings.
“Such a powerful rally on Wall Street will surely reverberate across Asia today. Back home, the benchmark FBM KLCI will likely build on its two-day cumulative gains of 40.6-point or 2.8%, possibly overcoming the immediate resistance level of 1,475 ahead,” it said.
HDBSVR said looking to rise in tandem with the broad market today are index-linked laggards like Sime Darby, Public Bank and Tenaga.
Meanwhile, smaller cap companies such as ECM Libra (on news that its investment bank business would be acquired by K&N Kenanga) and PJI Holdings (after securing contracts worth RM60 million) may benefit from an increase in buying interest too.
