KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said the FBM KLCI, after plunging by 27.1 points or 1.7% in the last three days, it said there may be a leveling off in the selling pressures on Bursa ahead on Monday, Jan 24.
'The benchmark FBM KLCI could drop a bit more before staging a gradual recovery towards the immediate resistance mark of 1,550 in the near term,' it said.
HDBSVR said providing a sense of calm to investors is last Friday's rise on Wall Street, which saw two of its key equity indices increasing by between 0.2% and 0.4% at the closing bell.
Stocks to watch are Hirotako, as the airbag manufacturer stands to benefit from a proposed government ruling requiring all new cars make in Malaysia to be fitted with airbags.
Also in focus would be MALAYSIA SMELTING CORPORATION [], after announcing that it would be offering a public issue of 25m shares at S$1.75 (or RM4.17, versus its last done price of RM4.60) pursuant to its secondary listing exercise in Singapore.
'The benchmark FBM KLCI could drop a bit more before staging a gradual recovery towards the immediate resistance mark of 1,550 in the near term,' it said.
HDBSVR said providing a sense of calm to investors is last Friday's rise on Wall Street, which saw two of its key equity indices increasing by between 0.2% and 0.4% at the closing bell.
Stocks to watch are Hirotako, as the airbag manufacturer stands to benefit from a proposed government ruling requiring all new cars make in Malaysia to be fitted with airbags.
Also in focus would be MALAYSIA SMELTING CORPORATION [], after announcing that it would be offering a public issue of 25m shares at S$1.75 (or RM4.17, versus its last done price of RM4.60) pursuant to its secondary listing exercise in Singapore.
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