KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said the positive overnight performance on Wall Street should lift sentiment on Bursa Malaysia on Tuesday, Oct 11.
It said the key FBM KLCI was likely to extend its recovery. However, the benchmark index's progress could be blocked by its immediate resistance barrier of 1,415 ahead.
On Wall Street, major US equity indices jumped between 3.0% and 3.5% on Monday night on news that a plan may be on the way to recapitalise European banks in an effort to contain the region's debt problems.
Nonetheless, it said that reflecting a sense of doubtfulness by some investors, the DJIA December month futures contract was trading at an 80-point discount to the spot rate on Tuesday morning.
As for newsflow for Bursa Malaysia, HDBSVR said the industrial production index (IPI) report for August was scheduled for release Tuesday. One media poll has forecasted a slight year-on-year contraction of 0.3% in the IPI two months back.
Top Glove is due to announce its latest quarterly financial results during lunch hours.
It said the key FBM KLCI was likely to extend its recovery. However, the benchmark index's progress could be blocked by its immediate resistance barrier of 1,415 ahead.
On Wall Street, major US equity indices jumped between 3.0% and 3.5% on Monday night on news that a plan may be on the way to recapitalise European banks in an effort to contain the region's debt problems.
Nonetheless, it said that reflecting a sense of doubtfulness by some investors, the DJIA December month futures contract was trading at an 80-point discount to the spot rate on Tuesday morning.
As for newsflow for Bursa Malaysia, HDBSVR said the industrial production index (IPI) report for August was scheduled for release Tuesday. One media poll has forecasted a slight year-on-year contraction of 0.3% in the IPI two months back.
Top Glove is due to announce its latest quarterly financial results during lunch hours.
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