KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said while investors were assessing the impact of the earthquake-cum-tsunami disaster in Japan, market volume shrank to 802m units on Monday, March 14 from 1b units last Friday.
HDBSVR said on Tuesday, March 15 we think trading volume on our Malaysian bourse'' is likely to be flattish as well given a dearth of fresh news flows.
'Technically speaking, the benchmark FBM KLCI index should be trading on negative bias and hovering between its immediate and next support levels of 1,495 and 1,465,' it said.
Over in the US market, key equity indices fell between 0.4% and 0.6% as investors were concern about how much damage the twin disasters in Japan will do to the global economy.
'At the local front, there could be some price actions on: (a) Multi-Purpose Holdings (MPHB) which had entered into a share sale agreement with Asia 4D to acquire the latter's 47% stake in Magnum for RM724.8m to be satisfied via the issuance of 315.1m MPHB shares at an issue price of RM2.30 each; (b) Fitters Diversified which was awarded RM33m CONSTRUCTION [] and completion of fit-out works contract for Kidzania Kuala Lumpur; and (c) Managepay System which is slated for ACE Market listing today,' it said.
HDBSVR said on Tuesday, March 15 we think trading volume on our Malaysian bourse'' is likely to be flattish as well given a dearth of fresh news flows.
'Technically speaking, the benchmark FBM KLCI index should be trading on negative bias and hovering between its immediate and next support levels of 1,495 and 1,465,' it said.
Over in the US market, key equity indices fell between 0.4% and 0.6% as investors were concern about how much damage the twin disasters in Japan will do to the global economy.
'At the local front, there could be some price actions on: (a) Multi-Purpose Holdings (MPHB) which had entered into a share sale agreement with Asia 4D to acquire the latter's 47% stake in Magnum for RM724.8m to be satisfied via the issuance of 315.1m MPHB shares at an issue price of RM2.30 each; (b) Fitters Diversified which was awarded RM33m CONSTRUCTION [] and completion of fit-out works contract for Kidzania Kuala Lumpur; and (c) Managepay System which is slated for ACE Market listing today,' it said.
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