KUALA LUMPUR: Hwang DBS Vickers Research expects broad market sentiment in the FBM KLCI continuing to be lacklustre with trading volume likely to be thin on Monday, June 13.
'Technically, our immediate support level for the benchmark index is at 1,550. After which, its next support level stands at 1,530,' it said.
HDBSVR said US key equity indices ended lower between 1.4% and 1.5% at the closing bell as investors were concerned about the slowing global economy recovery amid a string of weak economic data while overseas sovereign debt worries continued to rattle investors which saw the European markets in a sea of red too.
'Stocks that are likely to come under watch today include: (a) Petronas Chemicals as news reported that the group is looking for strategic acquisitions via its war chest of RM8bn; (b) United U-Li Corp, a cable support systems manufacturer, after the proposed disposal of its three subsidiaries to Legrand France for RM200m; (c) Gadang Holdings following its RM23.9m contract win to build a MRT depot in Sungai Buloh,' it said.
'Technically, our immediate support level for the benchmark index is at 1,550. After which, its next support level stands at 1,530,' it said.
HDBSVR said US key equity indices ended lower between 1.4% and 1.5% at the closing bell as investors were concerned about the slowing global economy recovery amid a string of weak economic data while overseas sovereign debt worries continued to rattle investors which saw the European markets in a sea of red too.
'Stocks that are likely to come under watch today include: (a) Petronas Chemicals as news reported that the group is looking for strategic acquisitions via its war chest of RM8bn; (b) United U-Li Corp, a cable support systems manufacturer, after the proposed disposal of its three subsidiaries to Legrand France for RM200m; (c) Gadang Holdings following its RM23.9m contract win to build a MRT depot in Sungai Buloh,' it said.
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