KUALA LUMPUR (Jan 20): Hwang DBS Vickers Research (HDBSVR) said on the last trading day of the Year of the Rabbit, the key FBM KLCI could hop a bit higher amid positive external sentiment.
“From a technical perspective, the benchmark index will likely pull away from the support line of 1,515 ahead, possibly climbing towards the immediate resistance threshold of 1,530,” it said in its market outlook on Friday.
On Wall Street, key equity indices were up between 0.4% and 0.7% at the closing bell last night. Essentially, investors’ sentiment was lifted by a drop in jobless claims.
“While trading activity may slow a little today as investors trim their open positions ahead of the long Lunar New Year break, there will still be price actions in selected stocks,” it said.
HDBSVR said among them are CIMB, after its 93%-owned Thailand-listed subsidiary CIMB Thai Bank reported a 59% annual jump in net profit for FY Dec 11; DiGi, which has declared a tax-exempt DPS of 6.5 sen in conjunction with a strong set of results in 4Q11; and (c) Tambun Indah, in response to its corporate exercise to raise funds of approximately RM44 million via a two rights shares plus one free warrant for every five ordinary shares held based on an indicative issue price of 50 sen each.
“From a technical perspective, the benchmark index will likely pull away from the support line of 1,515 ahead, possibly climbing towards the immediate resistance threshold of 1,530,” it said in its market outlook on Friday.
On Wall Street, key equity indices were up between 0.4% and 0.7% at the closing bell last night. Essentially, investors’ sentiment was lifted by a drop in jobless claims.
“While trading activity may slow a little today as investors trim their open positions ahead of the long Lunar New Year break, there will still be price actions in selected stocks,” it said.
HDBSVR said among them are CIMB, after its 93%-owned Thailand-listed subsidiary CIMB Thai Bank reported a 59% annual jump in net profit for FY Dec 11; DiGi, which has declared a tax-exempt DPS of 6.5 sen in conjunction with a strong set of results in 4Q11; and (c) Tambun Indah, in response to its corporate exercise to raise funds of approximately RM44 million via a two rights shares plus one free warrant for every five ordinary shares held based on an indicative issue price of 50 sen each.
