HDBSVR sees slight positive bias for KLCI

KUALA LUMPUR: Hwang DBS Vickers Research
(HDBSVR) said the FBM KLCI may be eager to break out on the upside
after being caught inside a narrow trading range of 7.5 points last
week.
"On the chart, the benchmark index could show a slight
positive bias by overcoming the immediate resistance barrier of 1,650
today," it said on Monday. Last Friday, leading equity indices on Wall
Street rose between 0.5% and 0.8% at the closing bell as optimistic
investors were hoping that fresh stimulus measures would be taken by
the U.S. and China to boost their economies. At Bursa Malaysia, stocks
that would attract interest included Bonia Corporation,
after its chief executive officer said he was discussing to acquire
certain stakes in the company at an indicative price range of between
RM1.80 and RM2 per share, which if it materialises, would then trigger
a mandatory general offer for the remaining shares.
Also in focus could be Parkson Holdings, after its Hong Kong-listed subsidiary Parkson Retail Group reported lower-than-expected earnings.