Wednesday, November 16, 2011

HDBSVR: KLCI to trade around 1,475 support level

KUALA LUMPUR (Nov 16): Hwang DBS Vickers Research (HDBSVR) said on Wednesday the nervous Wall Street performance may spread to the local stock market.

It said the benchmark FBM KLCI is likely to oscillate around the immediate support level of 1,475 pending the emergence of fresh market leads.

HDBSVR said the key U.S. stock indices ended higher by between 0.1% and 0.5% on hopes that the new Italian leader would make progress in resolving the country's sovereign debt problems.

'In terms of share price actions, Harvest Court will be in the limelight when the counter resumes trading this morning after being declared as designated securities. Meanwhile, banking groups AMMB Holdings and Alliance Financial Group are scheduled to announce their latest quarterly financial results during lunch hours today,' it said.

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