KUALA LUMPUR (Jan 6): Hwang DBS Vickers Research (HDBSVR) said the benchmark FBM KLCI will probably bounce back and forth around the immediate resistance level of 1,515 on Friday, possibly moving with a marginal downward bias on the chart.
It said the sideways market performance is anticipated in view of a dearth of fresh market leads. Overnight, major U.S. equity indices ended between flat and 0.8% higher amid better economic data.
HDBSVR said Malaysian stocks that could be of interest to investors include:
(a) KIAN JOO CAN FACTORY BHD [], which has announced that its managing director has stepped down following the end of his contract term;
(b) Can-One, after saying that it is not aware of any possible reason for the sharp run-up in its share price (which went limit-up on Thursday). Can-One has previously announced a plan to buy a 32.9% controlling stake in Kian Joo Can Factory and is in the midst of a legal process to go ahead with the proposed acquisition; and
(c) BHIC, which has clarified that there is no indication of any privatisation deal for the company.
It said the sideways market performance is anticipated in view of a dearth of fresh market leads. Overnight, major U.S. equity indices ended between flat and 0.8% higher amid better economic data.
HDBSVR said Malaysian stocks that could be of interest to investors include:
(a) KIAN JOO CAN FACTORY BHD [], which has announced that its managing director has stepped down following the end of his contract term;
(b) Can-One, after saying that it is not aware of any possible reason for the sharp run-up in its share price (which went limit-up on Thursday). Can-One has previously announced a plan to buy a 32.9% controlling stake in Kian Joo Can Factory and is in the midst of a legal process to go ahead with the proposed acquisition; and
(c) BHIC, which has clarified that there is no indication of any privatisation deal for the company.
