KUALA LUMPUR (March 13): Hwang DBS Vickers Research said the FBM KLCI, after falling 0.9% or 14 points on Monday, could trade sideways today with a slight downward bias as investors continue to remain cautious on the current fragile global economic situation.
HDBSVR said that Italy has announced a contraction of 0.7% in its economy in 4Q11 while China has also posted its largest trade deficit for 22 years.
On Wall Street, major US equity indices ended Monday on a mixed note, trading between -0.2% to 0.3% as market volume declined 16% from March 9.
This follows a quiet market backdrop as investors await more news flow from the euro zone, with finance ministers gathering in Brussels to sign off a 130 billion euro second package for Greece.
As for stocks on Bursa Malaysia, stocks that could be of interest include: (a) YTL Power, with media reports stating that its subsidiary, YTL Communications, is in the process of implementing the RM1.5 billion 1Bestarinet project; (b) PFCE, after proposing to acquire PFC Engineering for RM300 million from DAT Group to expand further into the oil and gas industry; and (c) Kimlun Corp, which has won two contracts worth RM152 million for real estate deals in Johor Baru.
HDBSVR said that Italy has announced a contraction of 0.7% in its economy in 4Q11 while China has also posted its largest trade deficit for 22 years.
On Wall Street, major US equity indices ended Monday on a mixed note, trading between -0.2% to 0.3% as market volume declined 16% from March 9.
This follows a quiet market backdrop as investors await more news flow from the euro zone, with finance ministers gathering in Brussels to sign off a 130 billion euro second package for Greece.
As for stocks on Bursa Malaysia, stocks that could be of interest include: (a) YTL Power, with media reports stating that its subsidiary, YTL Communications, is in the process of implementing the RM1.5 billion 1Bestarinet project; (b) PFCE, after proposing to acquire PFC Engineering for RM300 million from DAT Group to expand further into the oil and gas industry; and (c) Kimlun Corp, which has won two contracts worth RM152 million for real estate deals in Johor Baru.
