KUALA LUMPUR: Hwang DBS Vickers Research said the FBM KLCI may stage a gradual recovery with an immediate resistance barrier standing at 1,530 on Thursday, Jan 27.
The research house said on Thursday in its market outlook that the KLCI, following a swift rebound from an intra-day low of 1,505 to close at 1,520 on Wednesday, the index could have found a short-term bottom already.
On Wall Street, major U.S. equity indices were up between 0.1% and 0.7% after the Federal Reserve kept interest rate unchanged while reiterating its commitment to continue with the US$600b quantitative easing program.
'This will likely prompt Bank Negara Malaysia to leave the overnight policy rate unchanged too when the policy makers meet later this evening,' it said.
In terms of individual corporate developments, there could be share price reactions in stocks like: (a) Muhibbah, which is part of a consortium that has just been awarded an RM1.1b contract from Petronas Gas; (b) Puncak Niaga, after saying it would be seeking further clarification on a revised offer from the Selangor state government to take over the water concession assets; and (c) Bursa Malaysia, as its Oct ' Dec 10 quarterly result is scheduled for release during lunch hours.
The research house said on Thursday in its market outlook that the KLCI, following a swift rebound from an intra-day low of 1,505 to close at 1,520 on Wednesday, the index could have found a short-term bottom already.
On Wall Street, major U.S. equity indices were up between 0.1% and 0.7% after the Federal Reserve kept interest rate unchanged while reiterating its commitment to continue with the US$600b quantitative easing program.
'This will likely prompt Bank Negara Malaysia to leave the overnight policy rate unchanged too when the policy makers meet later this evening,' it said.
In terms of individual corporate developments, there could be share price reactions in stocks like: (a) Muhibbah, which is part of a consortium that has just been awarded an RM1.1b contract from Petronas Gas; (b) Puncak Niaga, after saying it would be seeking further clarification on a revised offer from the Selangor state government to take over the water concession assets; and (c) Bursa Malaysia, as its Oct ' Dec 10 quarterly result is scheduled for release during lunch hours.
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