KUALA LUMPUR (Jan 11): Hwang DBS Vickers Research (HDBSVR) expects the positive overnight close on Wall Street to give the Malaysian stock market a boost.
It said on Wednesday the benchmark FBM KLCI – which has shown resilience lately – could climb towards the resistance line of 1,530 ahead.
On Wall Street, key U.S. equity indices were up between 0.6% and 1.0% at the closing bell, underpinned by hopes that China would take new measures to stimulate its economy following slower imports growth.
On the local front, trade data for November will be out on Wednesday. HDBSVR said one survey has projected an annual increase of 12.8% for exports and 8.9% for imports, translating to a monthly trade surplus of RM11.5 billion.
On the corporate front, investors may find interest in: (a) CIMB, after a local paper reported that it would likely sign a deal to acquire a bank in the Philippines by month-end; (b) DRB-Hicom, which was quoted by a media as saying that it expects associate company Pos Malaysia to post RM2 billion in sales by 2015; and (c) SapuraCrest Petroleum, which has been awarded a contract for a sub-sea CONSTRUCTION [] contract in Vietnam worth US$100 million.
It said on Wednesday the benchmark FBM KLCI – which has shown resilience lately – could climb towards the resistance line of 1,530 ahead.
On Wall Street, key U.S. equity indices were up between 0.6% and 1.0% at the closing bell, underpinned by hopes that China would take new measures to stimulate its economy following slower imports growth.
On the local front, trade data for November will be out on Wednesday. HDBSVR said one survey has projected an annual increase of 12.8% for exports and 8.9% for imports, translating to a monthly trade surplus of RM11.5 billion.
On the corporate front, investors may find interest in: (a) CIMB, after a local paper reported that it would likely sign a deal to acquire a bank in the Philippines by month-end; (b) DRB-Hicom, which was quoted by a media as saying that it expects associate company Pos Malaysia to post RM2 billion in sales by 2015; and (c) SapuraCrest Petroleum, which has been awarded a contract for a sub-sea CONSTRUCTION [] contract in Vietnam worth US$100 million.
