KUALA LUMPUR: Hwang DBS Vickers Research said the FBM KLCI, after closing at its intra-day low of 1,541 on Friday, May 20, the benchmark index would remain under downward pressure on Monday, May 23.
'The benchmark index, nevertheless, is expected to find immediate support at 1,530,' it said.
HDBSVR said this follows a slump on Wall Street last Friday, which saw its leading equity indices falling between 0.7% and 0.8% on concerns that the Europe debt woes might persist amid an uncertain U.S. economic outlook.
Against a broadly weak market backdrop, there could be individual share price actions, it said, citing Time Engineering after a business weekly report said UEM Group's 45.0% stake in the company has attracted several suitors as potential buyers for a strategic block of shares.
Also in the news could be Melati Ehsan, which has just been awarded a road CONSTRUCTION [] project valued at RM149 million.
'The benchmark index, nevertheless, is expected to find immediate support at 1,530,' it said.
HDBSVR said this follows a slump on Wall Street last Friday, which saw its leading equity indices falling between 0.7% and 0.8% on concerns that the Europe debt woes might persist amid an uncertain U.S. economic outlook.
Against a broadly weak market backdrop, there could be individual share price actions, it said, citing Time Engineering after a business weekly report said UEM Group's 45.0% stake in the company has attracted several suitors as potential buyers for a strategic block of shares.
Also in the news could be Melati Ehsan, which has just been awarded a road CONSTRUCTION [] project valued at RM149 million.
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