Tuesday, September 14, 2010

Hwang DBS Vickers Research: KLCI could well extend its gains

KUALA LUMPUR: Hwang DBS Vickers Research said on Tuesday, Sept 14 that with the momentum still on the upside, the benchmark FBM KLCI could well extend its gains made on Monday.

'It would probably be on its way to challenge the resistance target of 1,465 next,' it said.

The positive external backdrop should assist in shoring up investors' sentiment too. Overnight, major equity barometers on Wall Street were up between 0.8% and 1.9% lifted by an improved outlook on the U.S. and global economy.

'One way to feel our local market pulse 'live' is by keeping an eye on the Ringgit movements. This currency ' which is seen to be tracking foreign funds flows ' is currently standing at a new high (of RM3.1005 per US$) since the fixed exchange rate system was abolished in July 2005,' it said.

No comments:

Post a Comment