KUALA LUMPUR: Hwang DBS Vickers Research said against a sluggish regional backdrop, it expects the Malaysian stock market on Thursday, Feb 10 to swing sideways with a slight positive bias.
It said the immediate support and resistance levels for the benchmark FBM KLCI are currently set at 1,530 and 1,550, respectively.
'Macro statistics are on tap today. The index of industrial production for December 2010 is due for release with one media survey projecting an annual increase of 4.7% for the month.
'Meanwhile, the PLANTATION []s report (on production, inventory, exports) for January will be of interest in view of the current strength of CPO price (which has climbed to RM3,931 per tonne, its highest since March 2008),' it said.
On the corporate front, HDBSVR said investors will probably focus on stocks like: (a) MPHB, which will resume trading this morning after proposing to acquire the remaining 49% stake in number forecast operator Magnum for RM1.6 billion to be satisfied via the issuance of 360 million new MPHB shares at RM2.30 each and RM809.2 million in cash; and (b) MRCB following the announcement of an excellent set of quarterly results on Wednesday.
It said the immediate support and resistance levels for the benchmark FBM KLCI are currently set at 1,530 and 1,550, respectively.
'Macro statistics are on tap today. The index of industrial production for December 2010 is due for release with one media survey projecting an annual increase of 4.7% for the month.
'Meanwhile, the PLANTATION []s report (on production, inventory, exports) for January will be of interest in view of the current strength of CPO price (which has climbed to RM3,931 per tonne, its highest since March 2008),' it said.
On the corporate front, HDBSVR said investors will probably focus on stocks like: (a) MPHB, which will resume trading this morning after proposing to acquire the remaining 49% stake in number forecast operator Magnum for RM1.6 billion to be satisfied via the issuance of 360 million new MPHB shares at RM2.30 each and RM809.2 million in cash; and (b) MRCB following the announcement of an excellent set of quarterly results on Wednesday.
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