Friday, October 29, 2010

Hwang DBS Vickers Research sees flattish performance for KLCI

KUALA LUMPUR: Hwang DBS Vickers Research expects the FBM KLCI to probably stage a flattish performance on Friday, Oct 29, ending the week near the psychological level of 1,500.

'This is in view of a dearth of fresh market developments that are needed to stimulate further buying interest,' it said.

The research house said this was a similar story on Wall Street. Major U.S. equity indices showed a daily change of between -0.1% and +0.2% at the closing bell as investors were waiting for new market leads to emerge.

'Back home, Tenaga shares may come under a bit of selling pressures after its FY Aug 10 full-year financial results came in slightly below par.

'But the highlight of the day will be the debut listing of Malaysia Marine & Engineering Holdings ' a heavy engineering and marine services provider in the oil & gas segment ' which would be valued at a market cap of RM6.1 billion based on the institutional offer price of RM3.80 per share,' it said.

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