KUALA LUMPUR: Hwang DBS Vickers Research said for the fifth day in a row this week, the benchmark FBM KLCI will probably show a sideways trading pattern with a slight positive bias on Friday, March 25.
'Essentially, the key market barometer is looking to inch its way up towards the immediate resistance threshold of 1,530 ahead,' it said.
Wall Street was up last night with its leading equity indices closing higher by between 0.7% and 1.4%, lifted mainly by better corporate earnings trend and a drop in jobless claims.
'In terms of corporate developments, investors could be focusing on: (a) Gamuda after the CONSTRUCTION [] outfit beat street estimates with a robust set of interim profit announced last evening; and (b) SEG International, which has just set a dividend policy to distribute a minimum of 50% of the Group's net profit to its shareholders. Based on consensus net earnings of RM62m for FY Dec 2011, this could translate to a DPS of 12 sen, implying a dividend yield of 3.5%,' it said.
'Essentially, the key market barometer is looking to inch its way up towards the immediate resistance threshold of 1,530 ahead,' it said.
Wall Street was up last night with its leading equity indices closing higher by between 0.7% and 1.4%, lifted mainly by better corporate earnings trend and a drop in jobless claims.
'In terms of corporate developments, investors could be focusing on: (a) Gamuda after the CONSTRUCTION [] outfit beat street estimates with a robust set of interim profit announced last evening; and (b) SEG International, which has just set a dividend policy to distribute a minimum of 50% of the Group's net profit to its shareholders. Based on consensus net earnings of RM62m for FY Dec 2011, this could translate to a DPS of 12 sen, implying a dividend yield of 3.5%,' it said.
No comments:
Post a Comment