Wednesday, January 4, 2012

HDBSVR: Firmer Wall Street to boost Malaysian market sentiment

KUALA LUMPUR (Jan 4): Hwang DBS Vickers Research said on Wednesday Wall Street was off to a strong start in the New Year when key U.S. equity indices jumped between 1.5% and 1.7% last night.

It said apparently, investors' confidence was boosted by expectations that the global manufacturing sector would show promising growth this year.

'The positive external vibes could give a lift to our Malaysian bourse today. Its benchmark FBM KLCI will probably recover all the losses suffered yesterday to rise towards the immediate resistance level of 1,530 ahead,' it said.

HDBSVR said stocks that may see action today include: (a) CI Holdings, after a local daily, quoting sources, reported that the company is looking to acquire a new business soon; (b) Bonia, following its acquisition of a German leather goods maker for RM13 million; and (c) Tricubes, which has just been awarded a government contract worth RM6 million.

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