KUALA LUMPUR: Hwang DBS Vickers Research said share prices on the Malaysian bourse could come under continued profit-taking pressures on Monday, Nov 15 following the market run-up recently.
'Its benchmark FBM KLCI may test (and possibly break below) the first support level of 1,495 but is less likely to challenge the second support line of 1,465 in the near term,' it said.
This follows Wall Street's drop last Friday as key U.S. equity bellwethers fell between 0.8% and 1.5% at the closing bell amid renewed concerns over the European sovereign debt crisis.
In terms of stock ideas, there may be trading interest in: (a) OSK after a media report said the company has appointed Goldman Sachs to scout for buyers for its investment banking arm; (b) Hap Seng Consolidated as a potential privatization play according to one news report; and (c) Tan Chong which has just been given a manufacturing license to set up a new plant in Sabah.
'Its benchmark FBM KLCI may test (and possibly break below) the first support level of 1,495 but is less likely to challenge the second support line of 1,465 in the near term,' it said.
This follows Wall Street's drop last Friday as key U.S. equity bellwethers fell between 0.8% and 1.5% at the closing bell amid renewed concerns over the European sovereign debt crisis.
In terms of stock ideas, there may be trading interest in: (a) OSK after a media report said the company has appointed Goldman Sachs to scout for buyers for its investment banking arm; (b) Hap Seng Consolidated as a potential privatization play according to one news report; and (c) Tan Chong which has just been given a manufacturing license to set up a new plant in Sabah.
No comments:
Post a Comment