Friday, November 26, 2010

HDBSVR: FBM KLCI to test 1,500

KUALA LUMPUR: Hwang DBS Vickers Research said the FBM KLCI, after taking the first step of recovery ' by overcoming the resistance hurdle of 1,495 ' it may follow up with the next step to cross the psychological barrier of 1,500 ahead.

In its outlook report for Friday, Nov 26, it expected a busy day on Bursa Malaysia. Counters that could attract a lot of action would include:

(a) Petronas Chemicals Group, an integrated petrochemical manufacturer with a market capitalization of RM41.6b based on an institutional offer price of RM5.20, which is making its debut listing;

(b) Kulim, which has received a new offer to buy over its entire stake in QSR at an indicative price of RM6.70 per QSR share. QSR, in turn, is the parent company of KFC Holdings;

(c) CONSTRUCTION [] companies like Bina Puri and TRC after a media report said they are in the running to bag LRT extension jobs which would be awarded soon; and

(d) AirAsia and Genting Malaysia following the release of their buoyant set of financial results Thursday evening.


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