KUALA LUMPUR (Jan 10): Hwang DBS Vickers Research (HDBSVR) said the FBM KLCI, after staging a run-up in the last few minutes of trading on Monday, could pull back when trading resumes on Tuesday.
“Still, we expect the benchmark index to show a fairly resilient performance, possible treading above the resistance-turned-support level of 1,515 ahead,” it said.
HDBSVR said on Wall Street, major U.S. equity indices were marginally up Monday night – by between 0.1% and 0.3% at the closing bell – as investors have hopes that the U.S. corporate would show better earnings in the ongoing reporting season and Europe would make progress in resolving its debt mess.
As for Malaysia, it said in terms of local news flows, the index of industrial production (IPI) for Nov and the Dec monthly PLANTATION []s statistics are due for release later Tuesday.
HDBSVR said on the corporate front, we may see share price actions in: (a) Gamuda, following a local media report saying that it has been roped in to be part of a consortium which is the frontrunner to bag the RM8 billion Gemas-Johor Bahru electrified double-tracking project; and (b) Jaks Resources, which has entered into a shareholders’ agreement to formalise a joint venture vehicle to undertake a power plant project in Vietnam.
“Still, we expect the benchmark index to show a fairly resilient performance, possible treading above the resistance-turned-support level of 1,515 ahead,” it said.
HDBSVR said on Wall Street, major U.S. equity indices were marginally up Monday night – by between 0.1% and 0.3% at the closing bell – as investors have hopes that the U.S. corporate would show better earnings in the ongoing reporting season and Europe would make progress in resolving its debt mess.
As for Malaysia, it said in terms of local news flows, the index of industrial production (IPI) for Nov and the Dec monthly PLANTATION []s statistics are due for release later Tuesday.
HDBSVR said on the corporate front, we may see share price actions in: (a) Gamuda, following a local media report saying that it has been roped in to be part of a consortium which is the frontrunner to bag the RM8 billion Gemas-Johor Bahru electrified double-tracking project; and (b) Jaks Resources, which has entered into a shareholders’ agreement to formalise a joint venture vehicle to undertake a power plant project in Vietnam.
