KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) expects the benchmark FBM KLCI to climb on Monday, April 11 after a minor slide last Friday.
It said on the chart, downside support is seen at 1,550 while immediate resistance level is set at 1,575.
HDBSVR said there was a lot of news flows on Monday. On the macro front, both the index of industrial production data for Feb and the PLANTATION []s statistics for March are due for release.
In terms of individual corporate developments, investors could be focusing on: (a) Mamee-Double Decker following a selective capital repayment proposal to pay its shareholders RM4.39 in cash; (b) Notion VTec amid speculations of a potential entry of a major US-based private equity firm into the company; (c) Jerneh Asia as it could be a reverse takeover target by an East Malaysian property developer according to one news article; and (d) Parkson Holdings, which has just announced a joint venture plan to expand its retail operation into Indonesia.
It said on the chart, downside support is seen at 1,550 while immediate resistance level is set at 1,575.
HDBSVR said there was a lot of news flows on Monday. On the macro front, both the index of industrial production data for Feb and the PLANTATION []s statistics for March are due for release.
In terms of individual corporate developments, investors could be focusing on: (a) Mamee-Double Decker following a selective capital repayment proposal to pay its shareholders RM4.39 in cash; (b) Notion VTec amid speculations of a potential entry of a major US-based private equity firm into the company; (c) Jerneh Asia as it could be a reverse takeover target by an East Malaysian property developer according to one news article; and (d) Parkson Holdings, which has just announced a joint venture plan to expand its retail operation into Indonesia.
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