Friday, December 17, 2010

HDBSVR: KLCI may cross 1,500

KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said the benchmark FBM KLCI may bounce up from its immediate support level of 1,495 and cross the psychological mark of 1,500 ahead on Friday, Dec 17.

It said Wall Street was up overnight as major US equity indices rose between 0.4% and 0.8% at the closing bell on Thursday, lifted by an unexpected drop in jobless claims and an increase in housing starts last month.

'Riding on an anticipated market rebound are counters such as: (a) MTD Capital after getting an approval to raise toll rates for its expressway in Philippines; and (b) Hexagon after securing a contract worth RM24 million involving the supply, delivery and installation of signage to an African-based energy company,' it said.

HDBSVR said in addition, China-based gourmet convenient food specialist Sozo Global will be listed today while CONSTRUCTION [] heavyweight Gamuda will release its latest quarterly financial results Friday evening.

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