KUALA LUMPUR: Despite black swan events such as Japan's earthquake & nuclear crisis, surging oil prices and Euro debt crisis that will make the 2Q more volatile, there is still upside bias for the market to move higher, spurred mainly by the local catalysts, said Hong Leong Investment Bank Research (HLIB Research).
In a note Monday, April 4, HLIB Research said these included (1) accelerating implementation of ETP; (2) goodies from the Invest Malaysia Conference; (3) favourable outlook for the ringgit, and return of foreign funds; (4) positive newsflow on M&As, GLC-linked IPOs and general election.
It said the immediate resistance levels are 1,560-1,577 whilst support levels were situated around 1,525-1,530.
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In a note Monday, April 4, HLIB Research said these included (1) accelerating implementation of ETP; (2) goodies from the Invest Malaysia Conference; (3) favourable outlook for the ringgit, and return of foreign funds; (4) positive newsflow on M&As, GLC-linked IPOs and general election.
It said the immediate resistance levels are 1,560-1,577 whilst support levels were situated around 1,525-1,530.
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