KUALA LUMPUR (Jan 27): Hwang DBS Vickers Research expects the FBM KLCI to probably tread in a tight band with a marginal downward bias after the slightly weaker close on Wall Street.
It said on Friday the immediate support line for the bellwether currently stands at 1,515.
On Wall Street, key U.S. stock indices were down between 0.2% and 0.6% at the closing bell last night. Essentially, investors' sentiment was dented by news that new home sales fell unexpectedly in Dec, which then prompted Wall Street to take a breather following its recent run-up.
As for Bursa Malaysia, it said while the broad market performance was expected to be sluggish, there could be excitement in individual stocks on the back of contract wins including IJM Corporation and AHMAD ZAKI RESOURCES BHD [] (AZRB), Kumpulan Europlus and Alam Maritim.
IJM Corporation and AZRB were awarded CONSTRUCTION [] packages worth RM1.7 billion in the MRT project.
Kumpulan Europlus secured government approval to undertake the RM7.1 billion 60-year concession West Coast Expressway project.
Alam Maritim was awarded an oil & gas support services contract value at RM115 million.
It said on Friday the immediate support line for the bellwether currently stands at 1,515.
On Wall Street, key U.S. stock indices were down between 0.2% and 0.6% at the closing bell last night. Essentially, investors' sentiment was dented by news that new home sales fell unexpectedly in Dec, which then prompted Wall Street to take a breather following its recent run-up.
As for Bursa Malaysia, it said while the broad market performance was expected to be sluggish, there could be excitement in individual stocks on the back of contract wins including IJM Corporation and AHMAD ZAKI RESOURCES BHD [] (AZRB), Kumpulan Europlus and Alam Maritim.
IJM Corporation and AZRB were awarded CONSTRUCTION [] packages worth RM1.7 billion in the MRT project.
Kumpulan Europlus secured government approval to undertake the RM7.1 billion 60-year concession West Coast Expressway project.
Alam Maritim was awarded an oil & gas support services contract value at RM115 million.
