HDBSVR sees KLCI trading in narrow range, MRCB, Favelle in focus

KUALA LUMPUR: Hwang DBS Vickers Research
(HDBSVR) expects the FBM KLCI to continue to trade in a narrow range on
Wednesday, with immediate support seen at the 1,650-level.
It said the KLCI could show a slight positive bias as it attempts to chart new highs ahead.
Overnight
on Wall Street, key indices posted a mixed performance. Leading U.S.
equity indices ended between -0.4% and +0.3% as investors remained
hopeful that policymakers would act soon to stimulate the major
economies.
On Bursa Malaysia, amid the light news flows on the
domestic scene, HDBSVR said companies that may see share price action
include: (a) MRCB, after substantial shareholder EPF dismissed market
talk of plans to dispose of its entire stake in the property
development and infrastructure company; and (b) Favelle Favco, which has received purchase orders to supply offshore cranes totaling RM90mil.