KUALA LUMPUR (March 30): HwangDBS Vickers Research (HDBSVR) said despite an absence of positive developments, key US equity indices staged a late rebound on Thursday night.
On Wall Street, the key US indices managed to recover from intra-day losses of 0.7%-1.1% before finishing mixed (with changes of between -0.3% and +0.1%) at the closing bell.
“And following yesterday’s resilient performance, which saw the FBM KLCI ending in the positive territory when most regional peers were in the red, our Malaysian bourse will likely experience listless trading today,” it said.
HDBSVR said on the chart, the benchmark index may struggle to tread just above the immediate support line of 1,580 ahead.
Among the counters that could see added action include: (a) Maybank, after its president said the banking group’s net interest margin is expected to contract by 10 basis points this year due to competitive pressures; (b) Crest Builder, which has won a bid to undertake a joint development of a parcel of prime commercial land located at Dang Wangi LRT station with an estimated gross development value of RM220m; and (c) Cypark, following the signing of an MOU on cooperation in the field of waste management and renewable energy in Myanmar.
On Wall Street, the key US indices managed to recover from intra-day losses of 0.7%-1.1% before finishing mixed (with changes of between -0.3% and +0.1%) at the closing bell.
“And following yesterday’s resilient performance, which saw the FBM KLCI ending in the positive territory when most regional peers were in the red, our Malaysian bourse will likely experience listless trading today,” it said.
HDBSVR said on the chart, the benchmark index may struggle to tread just above the immediate support line of 1,580 ahead.
Among the counters that could see added action include: (a) Maybank, after its president said the banking group’s net interest margin is expected to contract by 10 basis points this year due to competitive pressures; (b) Crest Builder, which has won a bid to undertake a joint development of a parcel of prime commercial land located at Dang Wangi LRT station with an estimated gross development value of RM220m; and (c) Cypark, following the signing of an MOU on cooperation in the field of waste management and renewable energy in Myanmar.
