KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said the FBM KLCI ' after climbing 50.3-point or 3.7% since last Tuesday ' will probably consolidate its gains by swinging sideways with a marginal negative bias ahead.
It said on Wednesday, Oct 12 the KLCI was likely back off from its technical resistance line of 1,415.
Meanwhile, major U.S. equity indices saw mixed closings of between -0.1% and +0.7% overnight. In essence, better corporate earnings on Wall Street overshadowed persisting sovereign debt woes in Europe for now.
'Back home, the following stocks could be in the limelight today: (a) Tenaga, after its president said a task force has been set up by the government to address its gas shortage problems, which are affecting its profitability; (b) Sunway, as the CONSTRUCTION [] group has just clinched contracts in Singapore (worth RM345 million) and in Iskandar Johor (valued at RM309 million); and (c) KNM, in response to the award of a contract to build a renewable energy generation plant in Sri Lanka estimated at RM638 million,' it said.
It said on Wednesday, Oct 12 the KLCI was likely back off from its technical resistance line of 1,415.
Meanwhile, major U.S. equity indices saw mixed closings of between -0.1% and +0.7% overnight. In essence, better corporate earnings on Wall Street overshadowed persisting sovereign debt woes in Europe for now.
'Back home, the following stocks could be in the limelight today: (a) Tenaga, after its president said a task force has been set up by the government to address its gas shortage problems, which are affecting its profitability; (b) Sunway, as the CONSTRUCTION [] group has just clinched contracts in Singapore (worth RM345 million) and in Iskandar Johor (valued at RM309 million); and (c) KNM, in response to the award of a contract to build a renewable energy generation plant in Sri Lanka estimated at RM638 million,' it said.
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