KUALA LUMPUR (Jan 17): Hwang DBS Vickers Research said the selling momentum across Asia could ease off on Tuesday.
It said the major factors for the more positive outlook was due to the market reactions in Europe, which were mostly up on Monday; and the lower borrowing cost seen at France’s bonds auction yesterday.
“Hence, our Malaysian bourse will likely stage a technical rebound ahead. After losing 14.0-point or 0.9% yesterday, the benchmark FBM KLCI may rise towards the support-turned-resistance level of 1,515,” it said.
HDBSVR said there were plenty of corporate developments awaiting local investors which include:
(a) DRB-Hicom taking over Proton at RM5.50 a share. With Proton’s share price already trading at a slight discount to the offer price, it remains to be seen what would be the share price implications for DRB-Hicom;
(b) a slew of contract wins by Bumi Armada (RM155 million), Sunway (RM42 million), Dayang (RM85 million), Kim Lun (RM82 million) and Heitech Padu (RM64 million); and (c) the upliftment of PN17 status for Hovid.
It said the major factors for the more positive outlook was due to the market reactions in Europe, which were mostly up on Monday; and the lower borrowing cost seen at France’s bonds auction yesterday.
“Hence, our Malaysian bourse will likely stage a technical rebound ahead. After losing 14.0-point or 0.9% yesterday, the benchmark FBM KLCI may rise towards the support-turned-resistance level of 1,515,” it said.
HDBSVR said there were plenty of corporate developments awaiting local investors which include:
(a) DRB-Hicom taking over Proton at RM5.50 a share. With Proton’s share price already trading at a slight discount to the offer price, it remains to be seen what would be the share price implications for DRB-Hicom;
(b) a slew of contract wins by Bumi Armada (RM155 million), Sunway (RM42 million), Dayang (RM85 million), Kim Lun (RM82 million) and Heitech Padu (RM64 million); and (c) the upliftment of PN17 status for Hovid.
