Thursday, August 26, 2010

Hwang DBS Vickers Research cautious on market outlook

KUALA LUMPUR: Hwang DBS Vickers Research said although Wall Street made a mild rebound on Wednesday night, where its'' key equity indices were up between 0.2% and 0.8%,'' it suspects there could still be more downside risk for the FBM KLCI.

'On the chart, after falling 8.8-point or 0.6% to halt an eight-day winning streak yesterday, the bellwether is under threat to break below the immediate support level of 1,395 ahead,' it said on Thursday, Aug 26.

On the corporate results, it said Axiata stood out after announcing a better-than-expected performance while revealing an official dividend policy (of a minimum payout of 30%).

More financial announcements will be released on Thursday evening, including from the big cap companies such as Sime Darby, CIMB and the Genting group of companies.

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