Friday, September 2, 2011

HDBSVR sees positive performance for KLCI

KUALA LUMPUR: Hwang DBS Vickers Research expects the Malaysian stock market to register a positive performance on Friday, Sept 2 after the three-day break.

'The benchmark FBM KLCI will probably climb towards its immediate resistance level of 1,465 ahead,' it said.

HDBSVR said during the break, many regional peers bounced up. Over the three-day period, the biggest jumps were posted by China shares listed in Hong Kong (+3.9%), Hong Kong (+3.6%) and Korea (+2.8%).

'This could pave the way for Malaysia equities to play catch-up when trading resumes this morning. But given the still uncertain medium-term stock market outlook, investors may prefer defensive names that offer attractive yield returns,' it said.

The research house said they included Harisson Holdings which announced a special interim net dividend per share of 37.5 sen (translating to a yield of 11.0%); and (b) Opcom Holdings, after declaring a special interim single-tier dividend per share of 22.5 sen (implying a yield of 27.6%).

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