KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said even though Wall Street fell last Friday ' its key equity indices was down by between 0.5% and 0.7% as crude oil prices jumped 2.5% to US$104 per barrel ' it believes the Malaysian bourse would show a fairly resilient performance on Monday, March 7.
'Essentially, the benchmark FBM KLCI ' after registering a cumulative increase of 33.3-point or 2.2% last week ' seems eager to build on its recovery momentum ahead. The bellwether may test the immediate resistance line of 1,530 in the near term with downside support likely to be seen at 1,495,' it said.
HDBSVR said stocks that could attract investors' interest include: (a) DRB-Hicom following a news report saying that it is set to get a letter of award to supply armoured personnel carriers worth RM7.5b from the government this week; (b) Sunway Holdings, after being awarded a contract valued at RM258m to construct one part of Legoland Malaysia Theme Park.
'Essentially, the benchmark FBM KLCI ' after registering a cumulative increase of 33.3-point or 2.2% last week ' seems eager to build on its recovery momentum ahead. The bellwether may test the immediate resistance line of 1,530 in the near term with downside support likely to be seen at 1,495,' it said.
HDBSVR said stocks that could attract investors' interest include: (a) DRB-Hicom following a news report saying that it is set to get a letter of award to supply armoured personnel carriers worth RM7.5b from the government this week; (b) Sunway Holdings, after being awarded a contract valued at RM258m to construct one part of Legoland Malaysia Theme Park.
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