KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said it expects stocks on Bursa Malaysia to probably extend its consolidation pattern on Monday, Feb 28 ''in the absence of fresh developments.
It said the benchmark FBM KLCI is expected to move sideways, possibly struggling to cross the immediate resistance level of 1,495 ahead.
Meanwhile, Wall Street saw a modest rebound last Friday with its key equity indices finishing higher between 0.5% and 1.6%. This should provide a sense of stability on the external front when Asian stock exchanges open for trading this morning.
HDBSVR said Feb 28 is the deadline for listed companies in Malaysia (such as Maxis) that have yet to announce their Oct ' Dec 2010 quarterly results.
'From the stacks of earnings report cards out last Friday evening, Telekom Malaysia beat our expectation but Proton threw up a negative surprise.
'Other counters that could see added interest today include: (a) AFG following one news report saying that its major shareholder Langkah Bahagia wants to dispose of its stake; and (b) Uzma, which may win RM500m worth of oil & gas contracts from Petronas according to one business weekly article,' it said.
It said the benchmark FBM KLCI is expected to move sideways, possibly struggling to cross the immediate resistance level of 1,495 ahead.
Meanwhile, Wall Street saw a modest rebound last Friday with its key equity indices finishing higher between 0.5% and 1.6%. This should provide a sense of stability on the external front when Asian stock exchanges open for trading this morning.
HDBSVR said Feb 28 is the deadline for listed companies in Malaysia (such as Maxis) that have yet to announce their Oct ' Dec 2010 quarterly results.
'From the stacks of earnings report cards out last Friday evening, Telekom Malaysia beat our expectation but Proton threw up a negative surprise.
'Other counters that could see added interest today include: (a) AFG following one news report saying that its major shareholder Langkah Bahagia wants to dispose of its stake; and (b) Uzma, which may win RM500m worth of oil & gas contracts from Petronas according to one business weekly article,' it said.
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