KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said the oversold FBM KLCI could stage a moderate technical rebound following a tumble of 142.3-point or 9.7% since the beginning of this month.
It said on Tuesday, Sept 27 that Wall Street closed on a firm note on Monday. Key U.S. stock indices rose between 1.3% and 2.5% at the closing bell lifted by hopes that policy makers would act to resolve the European sovereign debt crisis.
'However, it remains to be seen if there will be any positive spillover effects on Asia equities today, given the ongoing momentum of fund outflows from the region.
'Back home, the oversold FBM KLCI could stage a moderate technical rebound following a tumble of 142.3-point or 9.7% since the beginning of this month,' it said.
HDBSVR said stocks that will likely see added interest today include: (a) Aikbee Resources, which has received a voluntary conditional takeover offer at a cash offer price of RM1.00 per share (versus its last traded price of 86 sen); and (b) Bandar Raya Developments, following the company's decision to divest its selected investment PROPERTIES [] by way of a tender exercise (instead of a direct sale to its major shareholder as previously announced).
It said on Tuesday, Sept 27 that Wall Street closed on a firm note on Monday. Key U.S. stock indices rose between 1.3% and 2.5% at the closing bell lifted by hopes that policy makers would act to resolve the European sovereign debt crisis.
'However, it remains to be seen if there will be any positive spillover effects on Asia equities today, given the ongoing momentum of fund outflows from the region.
'Back home, the oversold FBM KLCI could stage a moderate technical rebound following a tumble of 142.3-point or 9.7% since the beginning of this month,' it said.
HDBSVR said stocks that will likely see added interest today include: (a) Aikbee Resources, which has received a voluntary conditional takeover offer at a cash offer price of RM1.00 per share (versus its last traded price of 86 sen); and (b) Bandar Raya Developments, following the company's decision to divest its selected investment PROPERTIES [] by way of a tender exercise (instead of a direct sale to its major shareholder as previously announced).
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