KUALA LUMPUR (Jan 16): Hwang DBS Vickers Research said the Euro Zone effects are expected to spread across Asia on Monday.
It expected the negative vibes from last Friday’s downgrade by Standard & Poor’s on the sovereign credit ratings for nine countries, including France, Italy and Spain, to weigh on the markets.
“The negative vibes will likely be felt on our local bourse too. From a technical perspective, the benchmark FBM KLCI could make its way to test the immediate support line of 1,515 ahead,” it said.
HDBSVR said hoping to buck the bearish sentiment are Proton and DRB-Hicom, after two local dailies said an announcement to sell Khazanah Nasional’s 42.7% stake – most probably to DRB-Hicom – may be made as early as Monday. The speculated takeover price is between RM5.50 and RM6.00 per Proton share;
Also in focus would be Digistar Corp, following a financial weekly report which wrote that the company is poised to clinch a RM500 million contract for the digitalisation of RTM; and MNC Wireless, amid a news article saying that it is set to break into the wireless broadband market in Sweden.
It expected the negative vibes from last Friday’s downgrade by Standard & Poor’s on the sovereign credit ratings for nine countries, including France, Italy and Spain, to weigh on the markets.
“The negative vibes will likely be felt on our local bourse too. From a technical perspective, the benchmark FBM KLCI could make its way to test the immediate support line of 1,515 ahead,” it said.
HDBSVR said hoping to buck the bearish sentiment are Proton and DRB-Hicom, after two local dailies said an announcement to sell Khazanah Nasional’s 42.7% stake – most probably to DRB-Hicom – may be made as early as Monday. The speculated takeover price is between RM5.50 and RM6.00 per Proton share;
Also in focus would be Digistar Corp, following a financial weekly report which wrote that the company is poised to clinch a RM500 million contract for the digitalisation of RTM; and MNC Wireless, amid a news article saying that it is set to break into the wireless broadband market in Sweden.
