KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said the FBM KLCI,'' after being hit by a sudden pick-up in selling pressure Thursday, Feb 24, may see a mild technical rebound on Friday.
On Thursday, the FBM KLCI fell 21.2 points (1.4%) thus taking its cumulative loss to 36 points (2.4%) in three days, a mild technical rebound could be in store for the Malaysian bourse ahead, it said.
'On the chart, the benchmark index will likely inch up a little today but may struggle to cross the support-turned-resistance level of 1,495. The immediate support level for the FBM KLCI is now seen at 1,465,' it said
HDBSVR'' said investors' focus will largely be on the slew of corporate financial reports. Among the long list of results announcements made last evening, MISC's Oct-Dec 2010 quarterly earnings was surprisingly weak but AirAsia and CBIP beat its expectations.
On Thursday, the FBM KLCI fell 21.2 points (1.4%) thus taking its cumulative loss to 36 points (2.4%) in three days, a mild technical rebound could be in store for the Malaysian bourse ahead, it said.
'On the chart, the benchmark index will likely inch up a little today but may struggle to cross the support-turned-resistance level of 1,495. The immediate support level for the FBM KLCI is now seen at 1,465,' it said
HDBSVR'' said investors' focus will largely be on the slew of corporate financial reports. Among the long list of results announcements made last evening, MISC's Oct-Dec 2010 quarterly earnings was surprisingly weak but AirAsia and CBIP beat its expectations.
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