KUALA LUMPUR (March 2): Hwang DBS Vickers Research said the FBM KLCI could extend its gains on Friday and edge towards the immediate resistance hurdle of 1,580.
It said in its market outlook that this comes as sentiment will likely get a lift following Wall Street’s overnight gains. Major U.S. equity indices were up between 0.2% and 0.7% at the closing bell partly attributable to a decline in jobless claims.
“Looking to ride on the market strength today are stocks like: (a) GENTING BHD [], as its Singapore-listed subsidiary Genting Singapore said it would be pursuing new investment opportunities after raising S$1.8b worth of perpetual bonds; (b) MBSB, in response to its internal expectations of loans growth of between 20% and 25% for the personal financing business; and (c) Naim Holdings, amid news report saying that it would be bidding for RM1b worth of MRT-related CONSTRUCTION jobs,” said HDBSVR.
It said in its market outlook that this comes as sentiment will likely get a lift following Wall Street’s overnight gains. Major U.S. equity indices were up between 0.2% and 0.7% at the closing bell partly attributable to a decline in jobless claims.
“Looking to ride on the market strength today are stocks like: (a) GENTING BHD [], as its Singapore-listed subsidiary Genting Singapore said it would be pursuing new investment opportunities after raising S$1.8b worth of perpetual bonds; (b) MBSB, in response to its internal expectations of loans growth of between 20% and 25% for the personal financing business; and (c) Naim Holdings, amid news report saying that it would be bidding for RM1b worth of MRT-related CONSTRUCTION jobs,” said HDBSVR.
