Thursday, April 28, 2011

HDBSVR sees KLCI breaking away from 1,530

KUALA LUMPUR: Hwang DBS Vickers Research said the benchmark FBM KLCI looks set to break away from the resistance mark of 1,530 on Thursday, April 28.

'It could climb and slog its way towards the next resistance target of 1,550. This comes as key U.S. equity indices jumped to new post-crisis highs after posting an increase of between 0.6% and 0.8% last night,' it said.

HDBSVR said essentially, investors were buoyed by the outcomes of the U.S. Federal Open Market Committee meeting, as follow: (a) it has maintained the range for federal funds rate at 0% to 0.25%; (b) it would keep the low interest rates for an extended period; and (c) it would complete its quantitative easing program of purchasing US$600b of longer-term Treasury securities by end-2Q11.

As for stocks which could see trading interest at Bursa Malaysia, it said it included (a) RHB Capital, following media talk that Chinese banks would be tendering for the block of shares owned by Abu Dhabi Commercial Bank in the banking group;

(b) Masterskill, after tying up with University of Newcastle from Australia to offer joint academic programs as part of its diversification plan to venture into other education fields; and

(c) Focus Lumber, a niche plywood manufacturer due for listing.

No comments:

Post a Comment