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HDBSVR sees Asian equities extending rally
by hlk Thu 19 Jul 2012, 10:59
KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) expects Asian equities to extend their rally on Thursday, underpinned by the firmer overnight close on Wall Street.
It said key US indices rose between 0.8% and 1.1% as sentiment was boosted by better housing starts data and strong corporate earnings pattern in the US. “This could set the stage for Asian equities to extend their rally today. On our local bourse, the benchmark FBM KLCI will likely challenge the resistance level of 1,650 ahead,” said the research house. HDBSVR said stocks that might attract a bit more interest included MBSB, after announcing the disposal of a property development subsidiary to Ken Holdings for RM56mil.
As for Hua Yang, it proposed a private placement exercise and a one-for-four bonus issue.
Tanjung Offshore, as it has bagged contracts to supply gas generator packages worth RM40mil.
HDBSVR said Tenaga Nasional and BAT would be releasing their latest quarterly results later in the evening.
It said key US indices rose between 0.8% and 1.1% as sentiment was boosted by better housing starts data and strong corporate earnings pattern in the US. “This could set the stage for Asian equities to extend their rally today. On our local bourse, the benchmark FBM KLCI will likely challenge the resistance level of 1,650 ahead,” said the research house. HDBSVR said stocks that might attract a bit more interest included MBSB, after announcing the disposal of a property development subsidiary to Ken Holdings for RM56mil.
As for Hua Yang, it proposed a private placement exercise and a one-for-four bonus issue.
Tanjung Offshore, as it has bagged contracts to supply gas generator packages worth RM40mil.
HDBSVR said Tenaga Nasional and BAT would be releasing their latest quarterly results later in the evening.
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