KUALA LUMPUR: Hwang DBS Vickers Research said on Wednesday, Sept 29 that although Wall Street was marginally up overnight, the Malaysian bourse would likely show a sideways performance with a downward bias.
On Wall Street, The Dow Jones industrial average gained 46.10 points, or 0.43 percent, to end at 10,858.14. The Standard & Poor's 500 Index rose 5.54 points, or 0.49 percent, to 1,147.70. The Nasdaq Composite Index advanced 9.82 points, or 0.41 percent, to 2,379.59.
The research house said Wall Street's key equity indices rose between 0.4% and 0.5% at the closing bell mainly lifted by consumer and health companies as well as speculations that the Federal Reserve might purchase more debt to boost the economy.
As for Bursa Malayasia, the profit-taking mood is likely to persist in the absence of fresh buying catalysts.
'On the chart, the benchmark FBM KLCI could be making its way towards the immediate support level of 1,435 ahead.
'Meanwhile, it has been relatively quiet on the corporate front too. Against this backdrop, Gamuda ' which announced a good set of financial results last evening ' may stand out as a favourite CONSTRUCTION [] play,' it said.
On Wall Street, The Dow Jones industrial average gained 46.10 points, or 0.43 percent, to end at 10,858.14. The Standard & Poor's 500 Index rose 5.54 points, or 0.49 percent, to 1,147.70. The Nasdaq Composite Index advanced 9.82 points, or 0.41 percent, to 2,379.59.
The research house said Wall Street's key equity indices rose between 0.4% and 0.5% at the closing bell mainly lifted by consumer and health companies as well as speculations that the Federal Reserve might purchase more debt to boost the economy.
As for Bursa Malayasia, the profit-taking mood is likely to persist in the absence of fresh buying catalysts.
'On the chart, the benchmark FBM KLCI could be making its way towards the immediate support level of 1,435 ahead.
'Meanwhile, it has been relatively quiet on the corporate front too. Against this backdrop, Gamuda ' which announced a good set of financial results last evening ' may stand out as a favourite CONSTRUCTION [] play,' it said.
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