KUALA LUMPUR: Hwang DBS Vickers Research said the FBM KLCI could surrender some of the 11 points gain made from its technical rebound on Tuesday, March 1.
The research house said on Wednesday, March 2 that on the chart, the key market barometer may be striving to stay above the resistance-turned-support line of 1,495 ahead.
Wall Street saw a pick-up in selling pressures on Tuesday night. Key U.S. equity indices lost between 1.4% and 1.6% at the closing bell as sentiment was hurt by rising oil prices (which jumped 2.7% to just below US$100 per barrel currently).
'In terms of individual corporate developments, Proton's share price ' after plunging 12.5% in the last two days ' may recover a bit today in response to the news that the national carmaker has entered into a MOU with Nissan Motor from Japan to undertake feasibility studies on specific areas of cooperation including the potential use of Nissan's platform,' it said.
The research house said on Wednesday, March 2 that on the chart, the key market barometer may be striving to stay above the resistance-turned-support line of 1,495 ahead.
Wall Street saw a pick-up in selling pressures on Tuesday night. Key U.S. equity indices lost between 1.4% and 1.6% at the closing bell as sentiment was hurt by rising oil prices (which jumped 2.7% to just below US$100 per barrel currently).
'In terms of individual corporate developments, Proton's share price ' after plunging 12.5% in the last two days ' may recover a bit today in response to the news that the national carmaker has entered into a MOU with Nissan Motor from Japan to undertake feasibility studies on specific areas of cooperation including the potential use of Nissan's platform,' it said.
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