KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said although Wall Street fell more on Wednesday, Feb 23, the selling pressures on Bursa Malaysia may ease off on Thursday.
Overnight on Wall Street, the key equity indices fell between 0.6% and 1.2% as crude oil prices rose 3.1% to US$96.50 per barrel.
If the easing on Bursa does occur, it said the FBM KLCI will probably swing with just a marginal negative bias ahead, not likely to test its first support line of 1,495 immediately.
'Tentative signs of market stability were visible yesterday when the key barometer rebounded from a low of 1,502 to close at 1,511 while market breadth was positive,' it said.
On the corporate results, it said KL Kepong saw a positive surprise but KNM's earnings were below expectations.
Other corporate developments worth highlighting include: (a) MRCB and Ekovest (which have received a letter of intent appointing their JV vehicle as the project delivery partner to carry out a river cleaning project; and (b) SEGi, after it has proposed to undertake a private placement of up to 10% of its share capital.
Overnight on Wall Street, the key equity indices fell between 0.6% and 1.2% as crude oil prices rose 3.1% to US$96.50 per barrel.
If the easing on Bursa does occur, it said the FBM KLCI will probably swing with just a marginal negative bias ahead, not likely to test its first support line of 1,495 immediately.
'Tentative signs of market stability were visible yesterday when the key barometer rebounded from a low of 1,502 to close at 1,511 while market breadth was positive,' it said.
On the corporate results, it said KL Kepong saw a positive surprise but KNM's earnings were below expectations.
Other corporate developments worth highlighting include: (a) MRCB and Ekovest (which have received a letter of intent appointing their JV vehicle as the project delivery partner to carry out a river cleaning project; and (b) SEGi, after it has proposed to undertake a private placement of up to 10% of its share capital.
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