Thursday, April 7, 2011

HDBSVR sees marginal upward bias for FBM KLCI

KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said after oscillating inside a tight trading range of 4.0-point on Wednesday, April 6, it expected the benchmark FBM KLCI to show a marginal upward bias on Thursday, possibly pulling away from the immediate support level of 1,550.

It said that Wall Street was up a little too on Wednesday night. Major U.S. equity indices rose between 0.2% and 0.3% at the closing bell as investors' sentiment turned a tad more positive.

'Back home, income-seeking investors will be glad to hear of dividend payment announcements made by several listed companies last evening. The list include: (a) Kian Joo, which has declared a final-cum-special net dividend per share of 7.5 sen; and (b) RHB Capital (net dividend per share of 16.0 sen). Separately, SP Setia has proposed a 1-for-2 bonus issue,' it said.

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