KUALA LUMPUR (Feb 13): HwangDBS Vickers Research said the benchmark FBM KLCI could consolidate on Monday following an increase of 40.8-point or 2.7% in the last fortnight.
“Still, our local bourse would likely show resilience as investors who have missed out on the earlier market run-up may be waiting to buy on weakness. On the chart, the bellwether may find immediate support at the 1,555 level,” it said.
Over on Wall Street, after the recent market rally, major U.S. equity indices dropped between 0.7% and 0.8% last Friday pending the emergence of fresh market developments.
At Bursa Malaysia, stocks that may be of added interest include: (a) Time Engineering, amid a weekly business report saying that three interested bidders are eyeing to acquire Khazanah Nasional’s 45% stake in the company; (b) BIMB, after a local media reported that its subsidiary Bank Islam is in talks to buy a stake in an Indonesian Islamic lender; and (c) IOI Corporation, following a news article stating that it is considering to re-list its property arm.
“Still, our local bourse would likely show resilience as investors who have missed out on the earlier market run-up may be waiting to buy on weakness. On the chart, the bellwether may find immediate support at the 1,555 level,” it said.
Over on Wall Street, after the recent market rally, major U.S. equity indices dropped between 0.7% and 0.8% last Friday pending the emergence of fresh market developments.
At Bursa Malaysia, stocks that may be of added interest include: (a) Time Engineering, amid a weekly business report saying that three interested bidders are eyeing to acquire Khazanah Nasional’s 45% stake in the company; (b) BIMB, after a local media reported that its subsidiary Bank Islam is in talks to buy a stake in an Indonesian Islamic lender; and (c) IOI Corporation, following a news article stating that it is considering to re-list its property arm.
