KUALA LUMPUR: Hwang DBS Vickers Research expects share prices on Bursa Malaysia to drift lower on Monday, Aug 9 on the back of profit-taking pressures.
It said on Monday, Aug 9 that there was no major market lead over the weekend ' with key U.S. equity barometers closing marginally down by between 0.2% and 0.4% last Friday.
'Consequently, the FBM KLCI will probably slip a bit more from its overbought territory, though the benchmark index will not likely test its immediate support level of 1,340 anytime soon,' it said.
Hwang DBS Vickers Research said against the market consolidation backdrop, there may be added trading interest in:
(a) Bandar Raya, which is looking to sell its 57%-owned listed subsidiary Mieco according to one media report;
(b) EPIC, as one news report speculated that the company could be privatized; and
(c) SIG Gases, an industrial gas supplier that will make its debut listing today.
It said on Monday, Aug 9 that there was no major market lead over the weekend ' with key U.S. equity barometers closing marginally down by between 0.2% and 0.4% last Friday.
'Consequently, the FBM KLCI will probably slip a bit more from its overbought territory, though the benchmark index will not likely test its immediate support level of 1,340 anytime soon,' it said.
Hwang DBS Vickers Research said against the market consolidation backdrop, there may be added trading interest in:
(a) Bandar Raya, which is looking to sell its 57%-owned listed subsidiary Mieco according to one media report;
(b) EPIC, as one news report speculated that the company could be privatized; and
(c) SIG Gases, an industrial gas supplier that will make its debut listing today.
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