KUALA LUMPUR (Feb 22): HwangDBS Vickers Research said Greece sealed a new bailout deal after securing approvals from Eurozone finance ministers on Tuesday.
Yet, the news could have already been discounted by investors as key U.S. equity indices ended little changed (between -0.1% and +0.1%) on Tuesday night.
“This suggests that our Malaysian bourse may continue its sideways trading pattern, possibly swinging between the immediate support and resistance levels of 1,555 and 1,580 ahead,” it said.
HDBSVR said amid the flattish market expectations, two CONSTRUCTION []-related stocks could stand out on Wednesday.
The research house said Mudajaya and Eversendai were reported to be part of a consortium that would be appointed as the main engineering, procurement and construction contractor for the new Tanjung Bin power plant project.
According to the media report, Mudajaya is expected to be awarded the civil work portion (worth RM950 million) while Eversendai would secure the boiler erection contract (worth RM140 million).
HDBSVR said that in a separate announcement to the stock exchange, Eversendai said it has clinched contracts in the Middle East and Malaysia valued at RM185 million.
Yet, the news could have already been discounted by investors as key U.S. equity indices ended little changed (between -0.1% and +0.1%) on Tuesday night.
“This suggests that our Malaysian bourse may continue its sideways trading pattern, possibly swinging between the immediate support and resistance levels of 1,555 and 1,580 ahead,” it said.
HDBSVR said amid the flattish market expectations, two CONSTRUCTION []-related stocks could stand out on Wednesday.
The research house said Mudajaya and Eversendai were reported to be part of a consortium that would be appointed as the main engineering, procurement and construction contractor for the new Tanjung Bin power plant project.
According to the media report, Mudajaya is expected to be awarded the civil work portion (worth RM950 million) while Eversendai would secure the boiler erection contract (worth RM140 million).
HDBSVR said that in a separate announcement to the stock exchange, Eversendai said it has clinched contracts in the Middle East and Malaysia valued at RM185 million.
