KUALA LUMPUR: Hwang DBS Vickers Research said the FBM KLCI, after testing and bouncing up from the 39-day moving average line on Tuesday, April 19, it expects the key FBM KLCI to show an upward bias on Wednesday.
'Technically speaking, the benchmark index could climb towards the first resistance line of 1,530,' it said.
HDBSVR said there was an overnight rebound on Wall Street too. Major U.S. equity indices rose between 0.4% and 0.6% at the closing bell as sentiment improved on the back of better housing starts data and corporate earnings momentum.
Among the stocks that may attract added interest include:
(a) DRB-Hicom, after a news report said it has won a bid to take over the controlling stake in Pos Malaysia (at around RM3.60 per share) with an agreement likely to be signed early next week; (
b) Berjaya Corp, which has confirmed that Kim Eng has approached its management to explore the possibility of acquiring a 100% stake (instead of 70%) in Berjaya Corp's stockbroking arm; and
(c) Emas Kiara, following its announcement to pay a special tax-exempt dividend per share of 12 sen (translating to a generous yield of 16.3% based on its last done price of RM0.735).
'Technically speaking, the benchmark index could climb towards the first resistance line of 1,530,' it said.
HDBSVR said there was an overnight rebound on Wall Street too. Major U.S. equity indices rose between 0.4% and 0.6% at the closing bell as sentiment improved on the back of better housing starts data and corporate earnings momentum.
Among the stocks that may attract added interest include:
(a) DRB-Hicom, after a news report said it has won a bid to take over the controlling stake in Pos Malaysia (at around RM3.60 per share) with an agreement likely to be signed early next week; (
b) Berjaya Corp, which has confirmed that Kim Eng has approached its management to explore the possibility of acquiring a 100% stake (instead of 70%) in Berjaya Corp's stockbroking arm; and
(c) Emas Kiara, following its announcement to pay a special tax-exempt dividend per share of 12 sen (translating to a generous yield of 16.3% based on its last done price of RM0.735).
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