Wednesday, November 9, 2011

HDBSVR sees mild upside for KLCI

KUALA LUMPUR (Nov 9): Hwang DBS Vickers Research (HDBSVR) expects the FBM KLCI to move with a marginal upward bias on Wednesday.

It said the KLCI, after swinging up and down inside an intra-day range of 13.1-points on Tuesday, it could pull away from the immediate support level of 1,475.

'This follows positive external developments overnight with some progress being made in Italy and Greece to keep the eurozone financial rescue plan on track. In reaction, major U.S. equity indices rose between 0.8% and 1.2% at the closing bell,' it said.

HDBSVR said in terms of share price actions on our local bourse today, aviation companies MAS and AirAsia may come under the limelight after a daily paper reported that a new super-premium full-service carrier could take off in May 2012, which then would raise the competition in the industry.

Penny stock Sanichi TECHNOLOGY [] will likely see active trading when trading resumes after it announced that German firm Protev ' which is keen to buy a stake in the company ' is expected to conclude Phase 2 of the due diligence in early 2012.

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