Monday, September 26, 2011

HDBSVR: Malaysian market to regain footing

KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said the Malaysian bourse will be hoping to regain its footing on Monday, Sept 26 after falling by 65 points or 4.5% last week.

'Nonetheless, we reckon any technical rebound will likely be mild in the near term,' it said in its market outlook.

HDBSVR said the Dow Jones Industrial Average December futures month contract was up more than 100 points on Monday morning to hover at a slight premium to the spot rate on the back of news that the European policy makers would intervene to contain the sovereign debt crisis fallout.

HDBSVR said back home, stocks that could see a relief rally include beaten down heavyweights such as Maybank, Sime Darby and Genting.

'Proton shares may also attract interest after a weekly business reported that there has been renewed interest in a takeover exercise in the national automotive company,' it said.

No comments:

Post a Comment