Wednesday, January 5, 2011

HDBSVR: Bulls may take a breather

KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said a cumulative gain of 33 points or 2.2% in just two days suggests that the bulls may take a breather on Wednesday, Jan 5.

It said the benchmark FBM KLCI ' standing at a fresh all-time high currently ' could then back off from the immediate resistance threshold of 1,550 ahead, 'although we reckon any market pullback is expected to be relatively shallow and brief'.

HDBSVR it has been more or less a similar situation on Wall Street too, which saw its key equity indices finishing mixed (between -0.4% and +0.2%) last night due to profit-taking pressures.

Against this backdrop, the research house said there would probably be rotational interests especially among the lower liners on our Malaysian stock market on Wednesday.

Kumpulan Europlus fixed its issue price for a private placement of 47.4 million new shares at RM1.22 per share (versus its last done price of RM1.44).

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