KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said riding on a positive external backdrop, it reckons the Malaysian bourse ' in a recovery phase from an oversold position ' would extend its technical rebound on Tuesday, Aug 16.
'On the chart, the benchmark FBM KLCI could pull away from 1,495 to climb towards the next resistance hurdle of 1,530,' it said.
Wall Street was up for the third day in a row on Monday night. Major U.S. equity bellwethers rose between 1.9% and 2.2% at the closing bell, spurred by corporate takeover news and bargain hunting activity.
'Likewise, investors back home will be on the lookout for trading opportunities ahead. Counters that may come under focus today include beaten down stocks such as CIMB, UEM Land, Sime Darby and Malaysia Marine and Heavy Engineering,' said HDBSVR.
'On the chart, the benchmark FBM KLCI could pull away from 1,495 to climb towards the next resistance hurdle of 1,530,' it said.
Wall Street was up for the third day in a row on Monday night. Major U.S. equity bellwethers rose between 1.9% and 2.2% at the closing bell, spurred by corporate takeover news and bargain hunting activity.
'Likewise, investors back home will be on the lookout for trading opportunities ahead. Counters that may come under focus today include beaten down stocks such as CIMB, UEM Land, Sime Darby and Malaysia Marine and Heavy Engineering,' said HDBSVR.
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