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HDBSVR sees Asian markets on the defensive
by hlk Mon 23 Jul 2012, 10:35
KUALA LUMPUR: Hwang DBS Vickers Research expects Asian investors to be on the defensive on Monday following renewed concerns over eurozone's intensifying sovereign debt crisis.
It said the FBM KLCI was expected to pull back towards the immediate support level of 1,635.
Last Friday, the Spanish 10-year government bond yield hitting a new high, putting pressure on Wall Street. Major US equity indices fell between 0.9% and 1.4% while the DJIA September futures month contract was trading at a 100-point or 0.8% discount to the spot rate early Monday. At Bursa Malaysia, HDBSVR said MMC Corporation could see trading interest on a report it had proposed to form a special purpose vehicle to take over the country's water assets.
Meanwhile, Southern Steel was reported to have obtained approval to set up a flat-steel plant in Penang.
Public Bank is scheduled to release its latest quarterly financial results during lunch hours.
It said the FBM KLCI was expected to pull back towards the immediate support level of 1,635.
Last Friday, the Spanish 10-year government bond yield hitting a new high, putting pressure on Wall Street. Major US equity indices fell between 0.9% and 1.4% while the DJIA September futures month contract was trading at a 100-point or 0.8% discount to the spot rate early Monday. At Bursa Malaysia, HDBSVR said MMC Corporation could see trading interest on a report it had proposed to form a special purpose vehicle to take over the country's water assets.
Meanwhile, Southern Steel was reported to have obtained approval to set up a flat-steel plant in Penang.
Public Bank is scheduled to release its latest quarterly financial results during lunch hours.
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