KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said the Malaysian bourse will probably come under profit-taking pressures when it resumes trading on Friday, Jan 21.
'The benchmark FBM KLCI is expected to gap down, possibly falling to its immediate support level of 1,550,' it said.
HDBSVR said this comes as many Asian stock exchanges plunged when Bursa Malaysia was closed on Thursday.
The key losers were Indonesia (-2.3%), China shares listed in Hong Kong (-2.2%) and Hong Kong (-1.7%) as investors got worried that China might impose further tightening measures after reporting a stronger-than-expected 4Q10 economic performance.
HDBSVR said on the corporate front, there could be share price actions in stocks like: (a) OSK Holdings, after saying that it is negotiating to acquire a broking firm in Thailand; (b) Air Asia following a news article which stated that it is exploring a secondary listing in either U.S. or Hong Kong; and (c) MTD Capital, in response to a media report that an ongoing takeover exercise may see a twist since the current share price of RM9.61 is above the offer price of RM9.50.
'The benchmark FBM KLCI is expected to gap down, possibly falling to its immediate support level of 1,550,' it said.
HDBSVR said this comes as many Asian stock exchanges plunged when Bursa Malaysia was closed on Thursday.
The key losers were Indonesia (-2.3%), China shares listed in Hong Kong (-2.2%) and Hong Kong (-1.7%) as investors got worried that China might impose further tightening measures after reporting a stronger-than-expected 4Q10 economic performance.
HDBSVR said on the corporate front, there could be share price actions in stocks like: (a) OSK Holdings, after saying that it is negotiating to acquire a broking firm in Thailand; (b) Air Asia following a news article which stated that it is exploring a secondary listing in either U.S. or Hong Kong; and (c) MTD Capital, in response to a media report that an ongoing takeover exercise may see a twist since the current share price of RM9.61 is above the offer price of RM9.50.
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