KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said the Malaysian bourse had continued to turn in a surprisingly buoyant performance, with its benchmark FBM KLCI adding 7.9 points on Tuesday, Aug 17 taking its three-day cumulative gain to 29.1 points (or up 2.2%).
'A mild market correction should be forthcoming, although our technical stance of seeing higher highs in the near future remains intact. We have set the immediate support and resistance levels for the FBM KLCI at 1,375 and 1,395, respectively,' it said on Wednesday, Aug 18.
HDBSVR said investors will be eager to check out the economic condition on the home front when Malaysia's Gross Domestic Product (GDP) report is released on Wednesday. It said one media poll has projected a year-on-year increase of 7.9% in 2Q10 (after registering +10.1% in 1Q).
'They may also be interested to know if there will be any pleasant surprises in the corporate result announcements from the likes of KL Kepong today. Separately, UMW could attract a bit of interest too after saying that it has been awarded an oil & gas drilling services contract valued at US$183 million in Indonesia,' it said.
'A mild market correction should be forthcoming, although our technical stance of seeing higher highs in the near future remains intact. We have set the immediate support and resistance levels for the FBM KLCI at 1,375 and 1,395, respectively,' it said on Wednesday, Aug 18.
HDBSVR said investors will be eager to check out the economic condition on the home front when Malaysia's Gross Domestic Product (GDP) report is released on Wednesday. It said one media poll has projected a year-on-year increase of 7.9% in 2Q10 (after registering +10.1% in 1Q).
'They may also be interested to know if there will be any pleasant surprises in the corporate result announcements from the likes of KL Kepong today. Separately, UMW could attract a bit of interest too after saying that it has been awarded an oil & gas drilling services contract valued at US$183 million in Indonesia,' it said.
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