KUALA LUMPUR: Hwang DBS Vickers Research expects Malaysian equities to extend their gains on Thursday, March 31, following the firmer close on many Asian bourses the previous day.
Among regional markets, the Philippines benchmark index rose 3.0% on Wednesday), Japan (+2.6%) and China shares listed in Hong Kong (+1.9%) on better stock market outlook.
'Our Malaysian shares got a lift too as its key FBM KLCI jumped 0.8% while total trading volume surged to 2.3b units. We expect the buying momentum to carry over today after Wall Street posted a positive overnight close (with the main U.S. equity indices up 0.6%-0.7%). Technically, the benchmark index could pull away from 1,530 to climb towards the next resistance level of 1,550,' it said.
Stocks under watch may include: (a) Berjaya Corp, after turning around from a net loss of RM156m to a net profit of RM32m in its latest quarterly results; (b) Ireka, which has just been awarded a CONSTRUCTION [] contract valued at RM233m; and (c) Masterskill following its declaration of a final single tier dividend of 7.9 sen per share, translating to a net yield of 4.3% based on its last done price.
Among regional markets, the Philippines benchmark index rose 3.0% on Wednesday), Japan (+2.6%) and China shares listed in Hong Kong (+1.9%) on better stock market outlook.
'Our Malaysian shares got a lift too as its key FBM KLCI jumped 0.8% while total trading volume surged to 2.3b units. We expect the buying momentum to carry over today after Wall Street posted a positive overnight close (with the main U.S. equity indices up 0.6%-0.7%). Technically, the benchmark index could pull away from 1,530 to climb towards the next resistance level of 1,550,' it said.
Stocks under watch may include: (a) Berjaya Corp, after turning around from a net loss of RM156m to a net profit of RM32m in its latest quarterly results; (b) Ireka, which has just been awarded a CONSTRUCTION [] contract valued at RM233m; and (c) Masterskill following its declaration of a final single tier dividend of 7.9 sen per share, translating to a net yield of 4.3% based on its last done price.
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