KUALA LUMPUR (Jan 3): Hwang DBS Vickers Research expects the key FBM KLCI to gap down when trading kicks off on Tuesday morning.
It said the benchmark index could pull back towards the immediate resistance-turned-support level of 1,515 on the chart. This follows its spurt in the last 15-20 minutes of trading on the last trading day of 2011, presumably attributable to window-dressing activities.
In addition, the few stock exchanges that were opened for trading yesterday saw mixed closings, with Taiwan (-1.7%) and Indonesia (-0.3%) on the losing side while the Philippines (+0.6%) and India (+0.4%) chalked up marginal gains.
Locally, stocks that may be in the limelight today include: (a) Proton, in response to a business weekly report saying that the national automaker is in talks to sell up to 50% of its stake in its Tanjung Malim plant to General Motors for between RM700 million to RM800 million; and (b) glove manufacturers like Top Glove, Kossan Rubber and Hartalega, as demand for gloves may rise following the latest bird flu scare in China and Hong Kong.
It said the benchmark index could pull back towards the immediate resistance-turned-support level of 1,515 on the chart. This follows its spurt in the last 15-20 minutes of trading on the last trading day of 2011, presumably attributable to window-dressing activities.
In addition, the few stock exchanges that were opened for trading yesterday saw mixed closings, with Taiwan (-1.7%) and Indonesia (-0.3%) on the losing side while the Philippines (+0.6%) and India (+0.4%) chalked up marginal gains.
Locally, stocks that may be in the limelight today include: (a) Proton, in response to a business weekly report saying that the national automaker is in talks to sell up to 50% of its stake in its Tanjung Malim plant to General Motors for between RM700 million to RM800 million; and (b) glove manufacturers like Top Glove, Kossan Rubber and Hartalega, as demand for gloves may rise following the latest bird flu scare in China and Hong Kong.
