KUALA LUMPUR: Hwang DBS Vickers Research said despite a weaker Wall Street performance on Friday, May 13, it expects the Malaysian bourse to oscillate with a marginal positive bias on Monday.
'Technically speaking, the benchmark FBM KLCI will probably rise towards the immediate resistance target of 1,550. Nevertheless, buying interest may be fairly light ahead of the public holiday tomorrow,' it said.
HDBSVR said stocks that could attract a bit more attention include: (a) ECM Libra and K&N Kenanga following a business daily report stating that a merger deal between the two investment banks is to be wrapped up soon; (b) Sunway Holdings, after a business weekly reported that the Sunway Group is said to have won a competitive bid to acquire the site of the Jalan Duta government complex; and (c) Ireka, which has been awarded a contract worth RM110m to build a hotel at KL Sentral.
'Technically speaking, the benchmark FBM KLCI will probably rise towards the immediate resistance target of 1,550. Nevertheless, buying interest may be fairly light ahead of the public holiday tomorrow,' it said.
HDBSVR said stocks that could attract a bit more attention include: (a) ECM Libra and K&N Kenanga following a business daily report stating that a merger deal between the two investment banks is to be wrapped up soon; (b) Sunway Holdings, after a business weekly reported that the Sunway Group is said to have won a competitive bid to acquire the site of the Jalan Duta government complex; and (c) Ireka, which has been awarded a contract worth RM110m to build a hotel at KL Sentral.
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