KUALA LUMPUR (Jan 26): Hwang DBS Vickers Research expects the Malaysian market to get a slight lift on Thursday with index heavyweights such as Maybank, CIMB and Genting possibly attracting fresh buying interest.
It said KNM may be of interest too after entering into an exclusivity agreement to conclude the proposed acquisition of an UK-based company for about RM120 million (which will then pave the way for the development of an 80MWe waste-to-energy plant).
As for the US Federal Open Market Committee (FOMC) meeting held Wednesday night, the policymakers decided to keep the federal funds rate at low levels at least through late 2014 after trimming the official economic growth projections. In reaction, major U.S. equity indices jumped between 0.6% and 1.1% at the closing bell.
“The outcome of the FOMC meeting suggests that the US dollar – which has been weakening lately – would come under persisting pressures ahead. This may prompt a shift in fund flows to Asia, where economic growth prospects remain relatively stable,” HDBSVR said.
It said KNM may be of interest too after entering into an exclusivity agreement to conclude the proposed acquisition of an UK-based company for about RM120 million (which will then pave the way for the development of an 80MWe waste-to-energy plant).
As for the US Federal Open Market Committee (FOMC) meeting held Wednesday night, the policymakers decided to keep the federal funds rate at low levels at least through late 2014 after trimming the official economic growth projections. In reaction, major U.S. equity indices jumped between 0.6% and 1.1% at the closing bell.
“The outcome of the FOMC meeting suggests that the US dollar – which has been weakening lately – would come under persisting pressures ahead. This may prompt a shift in fund flows to Asia, where economic growth prospects remain relatively stable,” HDBSVR said.
