KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said after a slow-and-steady climb of 17.0-point (or +1.1%) over the past three days, the key FBM KLCI could sustain its recovery pace ahead.
It said on Wednesday, March 23 the benchmark index will probably continue to swing sideways with a marginal upward bias as it makes its way towards the immediate resistance target of 1,530.
'News flows, nevertheless, seem a bit slow these days. On tap today is just the release of Bank Negara Malaysia Annual Report 2010. Of interest to investors will be the central bank's outlook for the Malaysian economy and inflation expectations against an uncertain global economic backdrop and rising oil prices,' it said.
HDBSVR said there are also not many developments on the corporate front. Possibly getting a bit more attention is Berjaya Land, which has just reported a net profit of RM34.9m in the quarter ended Jan 31, 2011 (versus a net loss of RM8.6m in the previous year) lifted mainly by better contributions from gaming operation, property development and investment activity.
It said on Wednesday, March 23 the benchmark index will probably continue to swing sideways with a marginal upward bias as it makes its way towards the immediate resistance target of 1,530.
'News flows, nevertheless, seem a bit slow these days. On tap today is just the release of Bank Negara Malaysia Annual Report 2010. Of interest to investors will be the central bank's outlook for the Malaysian economy and inflation expectations against an uncertain global economic backdrop and rising oil prices,' it said.
HDBSVR said there are also not many developments on the corporate front. Possibly getting a bit more attention is Berjaya Land, which has just reported a net profit of RM34.9m in the quarter ended Jan 31, 2011 (versus a net loss of RM8.6m in the previous year) lifted mainly by better contributions from gaming operation, property development and investment activity.
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