KUALA LUMPUR (March 26): Hwang DBS Vickers Research said although Wall Street was up slightly last Friday with its key equity indices rising between 0.2% and 0.3% at the closing bell, it expects limited spillover effects on Bursa Malaysia on Monday.
“Technically speaking, the FBM KLCI remains in a vulnerable position. Facing profit-taking pressures at the moment, the benchmark index could slip below its immediate support level of 1,580 ahead,” it said.
HDBSVR said against the slow market backdrop, following news reports in a business weekly, there could share price actions in: (a) Wah Seong, which is believed to have clinched a pipe-coating contract in Turkmenistan; (b) Deleum, as it may partner Petronas Carigali to form a global patent for a product that could increase oil extraction rates significantly; and (c) D’nonce TECHNOLOGY [], given that one of its subsidiary is in advanced talks to supply halal food products to Kazakhstan.
“Technically speaking, the FBM KLCI remains in a vulnerable position. Facing profit-taking pressures at the moment, the benchmark index could slip below its immediate support level of 1,580 ahead,” it said.
HDBSVR said against the slow market backdrop, following news reports in a business weekly, there could share price actions in: (a) Wah Seong, which is believed to have clinched a pipe-coating contract in Turkmenistan; (b) Deleum, as it may partner Petronas Carigali to form a global patent for a product that could increase oil extraction rates significantly; and (c) D’nonce TECHNOLOGY [], given that one of its subsidiary is in advanced talks to supply halal food products to Kazakhstan.
