Wednesday, February 9, 2011

HDBSVR: Recovery to persist

KUALA LUMPUR: Hwang DBS Vickers Research said the the slow and steady recovery process on our Malaysian bourse is expected to persist as the benchmark FBM KLCI makes its way towards the immediate resistance threshold of 1,550.

In its outlook report issued on Wednesday, Feb 9, it said Wall Street extended its rally last night with its key equity indices (up between 0.4% and 0.6% at the closing bell) recording new highs post crisis days. Essentially, investors' optimism was lifted by expectations of a better economic outlook and rising corporate earnings momentum.

HDBSVR said back home, among the large cap index-linked counters that could play catch-up today include CIMB, Sime Darby and Genting.

'Meanwhile, our property analyst remains bullish on potential beneficiaries with prime exposure to the upcoming MRT project such as Guocaland, Bolton and YTL Land,' it said.

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