KUALA LUMPUR: Hwang DBS Vickers Research said amid a soft overnight performance on Wall Street ' which saw key U.S. equity indices slipping between 0.1% and 0.5% at the closing bell ' it expected the'' Malaysian bourse to probably move sideways inside a tight trading range on Wednesday, May 25.
'Essentially, the benchmark FBM KLCI could be dancing around the 1,530 mark in the absence of fresh developments,' it said.
HDBSVR also said much will depend on the share price of index heavyweight Tenaga, given the expectations of a possible announcement of electricity tariff hikes by the government later Wednesday.
Using Tuesday's closing price of RM6.49 as a reference, a 5% swing in the stock (which has already risen by 8.5% since last Monday) would translate to a gain or loss of approximately 4-index point.
Other counters that may be in the limelight today include: (a) Jerneh Asia, which has proposed a dividend distribution amounting to a gross payout of between RM1.87 and RM2.52 per share; and (b) Leader Universal, in response to a news article saying that it is close to getting a US$30m contract to build a power plant in Laos.
'Essentially, the benchmark FBM KLCI could be dancing around the 1,530 mark in the absence of fresh developments,' it said.
HDBSVR also said much will depend on the share price of index heavyweight Tenaga, given the expectations of a possible announcement of electricity tariff hikes by the government later Wednesday.
Using Tuesday's closing price of RM6.49 as a reference, a 5% swing in the stock (which has already risen by 8.5% since last Monday) would translate to a gain or loss of approximately 4-index point.
Other counters that may be in the limelight today include: (a) Jerneh Asia, which has proposed a dividend distribution amounting to a gross payout of between RM1.87 and RM2.52 per share; and (b) Leader Universal, in response to a news article saying that it is close to getting a US$30m contract to build a power plant in Laos.
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