KUALA LUMPUR (Jan 12): Hwang DBS Vickers Research said the FBM KLCI will probably move sideways inside a narrow trading range ahead due to a dearth of fresh market leads on Thursday.
It said that on the chart, the resistance threshold of 1,530 remains a key hurdle for the bellwether to clear.
On Wall Street, key U.S. equity indices ended between -0.1% and +0.3% as buying interest (especially in banking and TECHNOLOGY [] stocks) offset the lingering Euro Zone sovereign debt concerns.
In terms of local corporate developments, HDBSVR said there could be interest in: (a) OSK Holdings and RHB Capital, after both companies said they have submitted an application to Bank Negara Malaysia to seek approvals in relation to a possible merger of their businesses; and (b) Bina Puri Holdings, in response to a media report saying that it is close to securing the privatisation concession for a highway in Pakistan.
It said that on the chart, the resistance threshold of 1,530 remains a key hurdle for the bellwether to clear.
On Wall Street, key U.S. equity indices ended between -0.1% and +0.3% as buying interest (especially in banking and TECHNOLOGY [] stocks) offset the lingering Euro Zone sovereign debt concerns.
In terms of local corporate developments, HDBSVR said there could be interest in: (a) OSK Holdings and RHB Capital, after both companies said they have submitted an application to Bank Negara Malaysia to seek approvals in relation to a possible merger of their businesses; and (b) Bina Puri Holdings, in response to a media report saying that it is close to securing the privatisation concession for a highway in Pakistan.
