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HDBSVR expects KLCI to trade sideways
by hlk Mon 27 Jun 2011, 13:21
KUALA LUMPUR: Hwang DBS Vickers Research said despite a weak performance on Wall Street on Friday, June 24 where key U.S. equity indices slipping between 1.0% and 1.3%, it reckoned the local market to probably be less affected in the run-up to the final week of the second quarter.
It said on Monday, June 27 that riding on its resilient pattern, it expects the benchmark FBM KLCI to extend its sideways movements with a marginal upward bias.
“Technically, the key market barometer could be inching its way up towards the immediate resistance target of 1,575 amid a relatively quiet market environment,” it said.
Hwang DBS Vickers Research said stocks that may be worth watching out for include Muhibbah Engineering, which has been awarded a contract valued at RM338 million to extend and upgrade wharfs at Northport.
Shangri-La could also see trading interest in response to a report by a business daily that the undervalued and asset-rich company may be a privatisation target.
It said on Monday, June 27 that riding on its resilient pattern, it expects the benchmark FBM KLCI to extend its sideways movements with a marginal upward bias.
“Technically, the key market barometer could be inching its way up towards the immediate resistance target of 1,575 amid a relatively quiet market environment,” it said.
Hwang DBS Vickers Research said stocks that may be worth watching out for include Muhibbah Engineering, which has been awarded a contract valued at RM338 million to extend and upgrade wharfs at Northport.
Shangri-La could also see trading interest in response to a report by a business daily that the undervalued and asset-rich company may be a privatisation target.
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