KUALA LUMPUR (March 23): Hwang DBS Vickers Research (HDBSVR) said with Wall Street showing signs of weakness, investors could be tempted to take profit across Asia on Friday.
It said that key US equity indices were down between 0.4% and 0.7% last night following a weaker-than-expected manufacturing growth data in China.
“Our Malaysian bourse will probably come under selling pressures too. Technically speaking, the benchmark FBM KLCI will likely lose ground to dip below the resistance-turned-support level of 1,580 ahead,” said the research house.
HDBSVR said stocks that may be hit on Friday include Metronic Global and Ariantec Global, amid one press report saying that proprietary day traders have been temporarily barred by some stock broking firms from trading in these two counters.
Hoping to get a lift is Lipo Corporation after its major shareholder Kobay TECHNOLOGY [] has proposed to undertake a selective capital reduction and repayment exercise involving a cash offer price of RM1.25 per share.
Separately, Malaysian AE Models has been awarded a sub-contract job worth RM62m at the new low cost carrier terminal in KLIA.
It said that key US equity indices were down between 0.4% and 0.7% last night following a weaker-than-expected manufacturing growth data in China.
“Our Malaysian bourse will probably come under selling pressures too. Technically speaking, the benchmark FBM KLCI will likely lose ground to dip below the resistance-turned-support level of 1,580 ahead,” said the research house.
HDBSVR said stocks that may be hit on Friday include Metronic Global and Ariantec Global, amid one press report saying that proprietary day traders have been temporarily barred by some stock broking firms from trading in these two counters.
Hoping to get a lift is Lipo Corporation after its major shareholder Kobay TECHNOLOGY [] has proposed to undertake a selective capital reduction and repayment exercise involving a cash offer price of RM1.25 per share.
Separately, Malaysian AE Models has been awarded a sub-contract job worth RM62m at the new low cost carrier terminal in KLIA.
