KUALA LUMPUR (March 27): Hwang DBS Vickers Research said a robust overnight performance on Wall Street could give a fillip to Asian equities on Tuesday.
It said that major US stockindices jumped between 1.2% and 1.8% after the Federal Reserve chairman said accommodative monetary measures are still needed to stir the economy.
“Back home, the benchmark FBM KLCI is expected to pull away from the immediate support level of 1,580, possibly climbing towards the psychological barrier of 1,600 ahead,” it said.
HDBSVR said among the counters that may ride on the buoyant market sentiment include: (a) IOI Corporation, following a news report on the prospect of the PLANTATION [] giant making a huge paper gain of RM696 million arising from the impending listing of its Indonesian-based associate company in Singapore; (b) CBIP, after clinching a RM45 million contract to build a palm oil refinery plant; and (c) MSC, which has agreed to pay a higher royalty to the Perak state government on its sales of tin-in-concentrates in exchange for an extension in the mining lease period for its tin mine operation in the state.
It said that major US stockindices jumped between 1.2% and 1.8% after the Federal Reserve chairman said accommodative monetary measures are still needed to stir the economy.
“Back home, the benchmark FBM KLCI is expected to pull away from the immediate support level of 1,580, possibly climbing towards the psychological barrier of 1,600 ahead,” it said.
HDBSVR said among the counters that may ride on the buoyant market sentiment include: (a) IOI Corporation, following a news report on the prospect of the PLANTATION [] giant making a huge paper gain of RM696 million arising from the impending listing of its Indonesian-based associate company in Singapore; (b) CBIP, after clinching a RM45 million contract to build a palm oil refinery plant; and (c) MSC, which has agreed to pay a higher royalty to the Perak state government on its sales of tin-in-concentrates in exchange for an extension in the mining lease period for its tin mine operation in the state.
