KUALA LUMPUR: Hwang DBS Vickers Research cautioned investors to be prepared for more selling pressures across Asia when trading resumes this week.
It said on Monday, Aug 22 that essentially, the bears would remain in control following an extended drop on Wall Street last Friday, Aug 19.
Key U.S. equity indices fell between 1.5% and 1.6% at the closing bell as investors sold equities in response to deteriorating economic prospects.
'Back home, the benchmark FBM KLCI will likely start the week on a weaker footing, possible sliding towards the immediate support level of 1,465 ahead,' it said.
Among the index heavyweights that could drag down the broad market include TENAGA NASIONAL BHD [] (after it issued a profit warning arising from additional high fuel costs).
A stock to watch would be Maybank (which is due to release its latest quarterly results during lunch hours).
It said on Monday, Aug 22 that essentially, the bears would remain in control following an extended drop on Wall Street last Friday, Aug 19.
Key U.S. equity indices fell between 1.5% and 1.6% at the closing bell as investors sold equities in response to deteriorating economic prospects.
'Back home, the benchmark FBM KLCI will likely start the week on a weaker footing, possible sliding towards the immediate support level of 1,465 ahead,' it said.
Among the index heavyweights that could drag down the broad market include TENAGA NASIONAL BHD [] (after it issued a profit warning arising from additional high fuel costs).
A stock to watch would be Maybank (which is due to release its latest quarterly results during lunch hours).
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