KUALA LUMPUR (Jan 18): Hwang DBS Vickers Research said on the FBM KLCI could extend its rebound from Tuesday’s 10.3 point gain and climb towards the resistance level of 1,530.
The research house said this comes as Wall Street saw overnight gains. Major U.S. equity indices rose between 0.4% and 0.6% amid positive economic data and lower borrowing costs for Spanish bonds.
“In terms of share price actions on our local bourse, of interest will be: (a) Tenaga, as its latest quarterly results show the Group’s earnings is on the road to recovery following an earlier gas shortage problem; (b) BinaPuri, after clinching a toll concession agreement in Pakistan valued at RM864 million; and (c) Axiata, in response to news report saying that it is in talks to buy a stake in an Indian telco company,” it said.
The research house said this comes as Wall Street saw overnight gains. Major U.S. equity indices rose between 0.4% and 0.6% amid positive economic data and lower borrowing costs for Spanish bonds.
“In terms of share price actions on our local bourse, of interest will be: (a) Tenaga, as its latest quarterly results show the Group’s earnings is on the road to recovery following an earlier gas shortage problem; (b) BinaPuri, after clinching a toll concession agreement in Pakistan valued at RM864 million; and (c) Axiata, in response to news report saying that it is in talks to buy a stake in an Indian telco company,” it said.
