Tuesday, 6 March 2012

HDBSVR sees KLCI moving sideways, expects profit taking

KUALA LUMPUR (March 6): HwangDBS Vickers Research said the key FBM KLCI, which has displayed resilience, is expected to gyrate sideways ahead amid profit-taking activity.

It said on Tuesday the immediate support and resistance levels for the benchmark FBM KLCI are presently pegged at 1,580 and 1,600, respectively.

Meanwhile, Asian equities will likely take a breather too after China guided for slower economic growth expectations this year. This also caused major U.S. stock indices to drop between 0.1% and 0.9% at the closing bell last night.

Against a fairly steady backdrop, stocks that may attract interest on Bursa Malaysia include: (a) Jaks Resources, which has accepted a letter of award for a building CONSTRUCTION [] contract valued at RM252m; (b) Media Shoppe, after announcing that it has decided not to accept the letter of award in relation to its subcontractor role to participate in certain portions of KTM’s automatic fare collection system project; and (c) Envair Holdings, following a news article saying that its new major shareholder would be injecting an oil & gas project worth RM1.5b into the company.

Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.
Related Posts Plugin for WordPress, Blogger...