KUALA LUMPUR: Hwang DBS Vickers Research said positive vibes from Wall Street last Friday, Oct 9 where key U.S. equity barometers were up between 0.5% and 0.8% at the closing bell, should echo positively in the local stock market on Monday.
In its market outlook, it said edging closer to its all-time high, the benchmark FBM KLCI is expected to extend its upward trajectory today with optimism on the tabling of Budget 2011 later this week which could possibly lift investor's sentiments higher.
'From a technical perspective, a clean breakout of the bellwether's immediate resistance level of 1,495 would take the benchmark index towards the next resistance target of 1,525 (where its all-time high was back in mid-Jan 08),' it said.
HLG Research said in terms of news flows, the Index of Industrial Production figure for Aug is expected later on Monday.
PLANTATION [] statistics for September is likely to be on the cards as well. Meanwhile, WCT could see some active trading volume today after the company announced that it had secured a portion of the low-cost carrier terminal work worth RM486 million.
In its market outlook, it said edging closer to its all-time high, the benchmark FBM KLCI is expected to extend its upward trajectory today with optimism on the tabling of Budget 2011 later this week which could possibly lift investor's sentiments higher.
'From a technical perspective, a clean breakout of the bellwether's immediate resistance level of 1,495 would take the benchmark index towards the next resistance target of 1,525 (where its all-time high was back in mid-Jan 08),' it said.
HLG Research said in terms of news flows, the Index of Industrial Production figure for Aug is expected later on Monday.
PLANTATION [] statistics for September is likely to be on the cards as well. Meanwhile, WCT could see some active trading volume today after the company announced that it had secured a portion of the low-cost carrier terminal work worth RM486 million.
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