KUALA LUMPUR: Hwang DBS Vickers Research said on Monday, Jan 31, investors will probably want to sell ahead of the holiday-shortened week in view of an uncertain external backdrop.
It said major U.S. bellwethers slumped between 1.4% and 2.5% last Friday on concerns of economic spillover effects arising from the unrest in Egypt.
'Following which, the benchmark FBM KLCI on our local bourse is expected to drop deeper today, possibly sliding towards the immediate support level of 1,495,' it said.
Meanwhile, counter that could attract interest include: (a) MTD Capital, after its Executive Chairman and CEO made a cash offer of RM3.5b (translating to RM12.40 per MTD Capital share) to acquire only the highway concession assets.
This follows an earlier cash offer made by its major shareholder to buy the remaining shares in MTD Capital at RM9.50 per share; (b) Genting group of companies, in reaction to a news article saying that it has put in a bid to acquire the number forecasting operation of Tanjong; and (c) Century Software, a provider of financial management software and services, which will be listed on the Main Market.
It said major U.S. bellwethers slumped between 1.4% and 2.5% last Friday on concerns of economic spillover effects arising from the unrest in Egypt.
'Following which, the benchmark FBM KLCI on our local bourse is expected to drop deeper today, possibly sliding towards the immediate support level of 1,495,' it said.
Meanwhile, counter that could attract interest include: (a) MTD Capital, after its Executive Chairman and CEO made a cash offer of RM3.5b (translating to RM12.40 per MTD Capital share) to acquire only the highway concession assets.
This follows an earlier cash offer made by its major shareholder to buy the remaining shares in MTD Capital at RM9.50 per share; (b) Genting group of companies, in reaction to a news article saying that it has put in a bid to acquire the number forecasting operation of Tanjong; and (c) Century Software, a provider of financial management software and services, which will be listed on the Main Market.
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