KUALA LUMPUR: Hwang DBS Vickers Research said the escalation of the political tension in the Middle East ' following the military strikes launched by the U.S., British and French forces 'Asian equities including Malaysia would probably come under renewed selling pressures on Monday, March 21.
In its outlook report, it said the benchmark FBM KLCI could surrender most of its 11.8-index point gain chalked up last Friday.
'On the chart, the immediate support level for the key market barometer is seen at 1,495,' it said.
HDBSVR said stocks that may buck the broad market trend include Sarawak election plays ' like Dayang, CMS, Naim, Ta Ann, Encorp ' as the much anticipated state polls are likely to be held next month.
Meanwhile, Reuters reports that oil jumped by more than $2 on Monday, sending Brent to $116 after western forces launched a military campaign against Libya, raising the stakes in a civil war that has nearly paralysed crude exports from the north African nation.
Brent crude for May rose as much as $2.26 to $116.19 a barrel and was up almost 1.5 percent at $115.62 by 2350 GMT. U.S. crude for April rose as much as $2.12 to $103.19 and was up $1.84 at $102.91.
In its outlook report, it said the benchmark FBM KLCI could surrender most of its 11.8-index point gain chalked up last Friday.
'On the chart, the immediate support level for the key market barometer is seen at 1,495,' it said.
HDBSVR said stocks that may buck the broad market trend include Sarawak election plays ' like Dayang, CMS, Naim, Ta Ann, Encorp ' as the much anticipated state polls are likely to be held next month.
Meanwhile, Reuters reports that oil jumped by more than $2 on Monday, sending Brent to $116 after western forces launched a military campaign against Libya, raising the stakes in a civil war that has nearly paralysed crude exports from the north African nation.
Brent crude for May rose as much as $2.26 to $116.19 a barrel and was up almost 1.5 percent at $115.62 by 2350 GMT. U.S. crude for April rose as much as $2.12 to $103.19 and was up $1.84 at $102.91.
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