KUALA LUMPUR (Jan 30): HwangDBS Vickers Research (HDBSVR) said the key FBM KLCI could still be locked in a sideways trading pattern on Monday after being stuck inside a narrow trading band of 9.2 points last week.
“On the chart, the immediate support and resistance lines for the benchmark index currently stand at 1,515 and 1,530, respectively,” it said.
HDBSVR said this follows a lack of visible market leads from abroad. Last Friday night, major U.S. equity indices posted mixed changes of between-0.6% and +0.4% at the closing bell.
The research house said in terms of corporate developments, the action will be in takeover deals for:
(a) Lingui Developments (at an indicative offer price of RM1.63 vs. its last done price of RM1.36;
(b) Glenealy PLANTATION []s (indicative offer price of RM7.50 vs. last done price of RM6.55); and
(c) Golden Frontier (proposed offer price of RM1.50 vs. last done price of RM1.21).
HDBSVR also said investors will be keeping their eyes on Public Bank’s earnings announcement for the October to December quarter, which is due for release at midday on Monday.
“On the chart, the immediate support and resistance lines for the benchmark index currently stand at 1,515 and 1,530, respectively,” it said.
HDBSVR said this follows a lack of visible market leads from abroad. Last Friday night, major U.S. equity indices posted mixed changes of between-0.6% and +0.4% at the closing bell.
The research house said in terms of corporate developments, the action will be in takeover deals for:
(a) Lingui Developments (at an indicative offer price of RM1.63 vs. its last done price of RM1.36;
(b) Glenealy PLANTATION []s (indicative offer price of RM7.50 vs. last done price of RM6.55); and
(c) Golden Frontier (proposed offer price of RM1.50 vs. last done price of RM1.21).
HDBSVR also said investors will be keeping their eyes on Public Bank’s earnings announcement for the October to December quarter, which is due for release at midday on Monday.
