KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said the FBM KLCI, after experiencing a brief consolidation over the last two days, may see relatively limited downside risk ahead.
It said on Wednesday, Jan 12 the benchmark index ' down 9.3 points or 0.6% so far this week ' could find immediate support at the 1,550 level.
'A recovery process will probably follow soon after,' it said.
HDBSVR said there was also a slight uptick on Wall Street last night. Major U.S. equity indices were up between 0.3% and 0.4% at the closing bell mainly lifted by better corporate earnings expectations and higher energy prices.
In terms of individual corporate actions onBursa Malaysia, counters worth watching out for include:
(a) Asia Pacific Land, as its major shareholder has made an offer to acquire all its assets and liabilities for 45 sen per share;
(b) Affin, in response to a news report which said that a rumour of CIMB taking over Affin may not be true; and
(c) Olympia, after one of its subsidiary signed an agreement to jointly undertake the sales of 3-digit and 4-digit games in Taiwan.
It said on Wednesday, Jan 12 the benchmark index ' down 9.3 points or 0.6% so far this week ' could find immediate support at the 1,550 level.
'A recovery process will probably follow soon after,' it said.
HDBSVR said there was also a slight uptick on Wall Street last night. Major U.S. equity indices were up between 0.3% and 0.4% at the closing bell mainly lifted by better corporate earnings expectations and higher energy prices.
In terms of individual corporate actions onBursa Malaysia, counters worth watching out for include:
(a) Asia Pacific Land, as its major shareholder has made an offer to acquire all its assets and liabilities for 45 sen per share;
(b) Affin, in response to a news report which said that a rumour of CIMB taking over Affin may not be true; and
(c) Olympia, after one of its subsidiary signed an agreement to jointly undertake the sales of 3-digit and 4-digit games in Taiwan.
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