KUALA LUMPUR (Jan 5): Hwang DBS Vickers Research (HDBSVR) said if the FBM KLCI falls beneath the crucial 1,500 then the benchmark index could pull back further ahead on Thursday.
It said that on Wednesday, the KLCI fell for the second day in a row, slipping 9.3 points to bring its cumulative loss to 26.5-point (or 1.7%) since the beginning of the year.
In contrast, its closest regional peers – the Philippines (+1.5%), Indonesia (+1.3%) and Thailand (+1.1%) – chalked up strong gains.
HDBSVR said against a cautious market backdrop, stocks that may still garner investors’ interest include:
(a) JCY International, which in an unprecedented practice by Malaysia corporate, announced via the stock exchange that the group is expected to show a steep jump of 1,900% year-on-year and 460% quarter-on-quarter in its net profit to approximately RM150 million for the Oct-Dec 2011 quarter;
(b) Proton, after its chairman publicly said he has put in a bid to buy over Khazahan Nasional’s 42.7% stake in the national car maker; and
(c) UEM Land, given its exposure in Iskandar Development as more investments and initiatives may be announced when the Prime Ministers of Malaysia and Singapore meet this morning.
It said that on Wednesday, the KLCI fell for the second day in a row, slipping 9.3 points to bring its cumulative loss to 26.5-point (or 1.7%) since the beginning of the year.
In contrast, its closest regional peers – the Philippines (+1.5%), Indonesia (+1.3%) and Thailand (+1.1%) – chalked up strong gains.
HDBSVR said against a cautious market backdrop, stocks that may still garner investors’ interest include:
(a) JCY International, which in an unprecedented practice by Malaysia corporate, announced via the stock exchange that the group is expected to show a steep jump of 1,900% year-on-year and 460% quarter-on-quarter in its net profit to approximately RM150 million for the Oct-Dec 2011 quarter;
(b) Proton, after its chairman publicly said he has put in a bid to buy over Khazahan Nasional’s 42.7% stake in the national car maker; and
(c) UEM Land, given its exposure in Iskandar Development as more investments and initiatives may be announced when the Prime Ministers of Malaysia and Singapore meet this morning.
