KUALA LUMPUR: after chalking up a cumulative gain of 11.7-points or 0.8% last week, the leading FBM KLCI could extend its recovery pace ahead, says Hwang DBS Vickers Research.
HDBSVR said on Monday, March 28 the benchmark index is set to rise gradually as it makes its way up to challenge the immediate resistance level of 1,530.
An upward bias for the local share exchange is likely assuming the regional backdrop is fairly stable. Asian equities may climb more today following last Friday's rise on Wall Street, which saw its key stock indices increasing between 0.2% and 0.4% at the closing bell on improved investors' sentiment.
'In terms of share price actions, the day may be dominated with mergers and acquisitions talks. According to media reports, the possibility of a merger between AMMB and RHB Capital has resurfaced while little-known Malaysia Pacific Corporation is said to be a front runner (via its joint bid with Amanah Raya) to acquire Khazanah's controlling stake in Pos Malaysia,' it said.
HDBSVR said on Monday, March 28 the benchmark index is set to rise gradually as it makes its way up to challenge the immediate resistance level of 1,530.
An upward bias for the local share exchange is likely assuming the regional backdrop is fairly stable. Asian equities may climb more today following last Friday's rise on Wall Street, which saw its key stock indices increasing between 0.2% and 0.4% at the closing bell on improved investors' sentiment.
'In terms of share price actions, the day may be dominated with mergers and acquisitions talks. According to media reports, the possibility of a merger between AMMB and RHB Capital has resurfaced while little-known Malaysia Pacific Corporation is said to be a front runner (via its joint bid with Amanah Raya) to acquire Khazanah's controlling stake in Pos Malaysia,' it said.
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