Wednesday, May 18, 2011

HDBSVR expects Malaysian equities to show fairly resilient performance

KUALA LUMPUR: Hwang DBS Vickers Research expects the Malaysian bourse to show a fairly resilient performance on Wednesday, may 18 even though most regional peers posted weaker closings on Tuesday.

It said the immediate support and resistance levels for the benchmark FBM KLCI are seen at 1,530 and 1,550, respectively.

HDBSVR said among the counters that may be worth watching out for on Wednesday include Malaysia Airports, MMHE and UEM Land (all three would be the new additions to the MSCI Malaysia Index while MAS would be omitted as an index constituent effective June 1).

In terms of news flows, investors would be keeping their ears on the ongoing Invest Malaysia 2011 Day in the US for possible implications on individual sectors or companies.

HDBSVR said later Wednesday, there will be an economic update when the 1Q11 GDP report is out, with one media poll projecting an annual growth rate of 4.8% in the first quarter.

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