Friday, September 23, 2011

HDBSVR sees muted spillover effects on Asian equities

KUALA LUMPUR: Hwang DBS Vickers Research said while main US equity indices on Wall Street plunged between 3.2% and 3.5% overnight on Thursday, Sept 22, there could be muted spillover effects on Asian equities on Friday.

It said this followed the sell-down suffered on Thursday, which saw bellwethers in Indonesia (-8.9%), China shares listed in Hong Kong (-6.3%) and Hong Kong (-4.8%) the hardest hit.

At Bursa Malaysia, it expects to see less selling pressures on Friday. The benchmark FBM KLCI, which tumbled 31.2 points or 2.2% on Thursday, may gyrate sideways with a marginal negative bias, as it will likely struggle to cross past the psychological threshold of 1,400 ahead.

One counter that will be hoping to attract buying interest is WCT, which has entered into a concession agreement for the privatisation of the CONSTRUCTION [], development and financing of an integrated complex at KLIA2 with a project cost valued at RM530 million.

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