Market sentiment to remain weak, says HDBSVR

KUALA LUMPUR: Hwang DBS Vickers Research
(HDBSVR) expects sentiment on Malaysian equities will likely remain
weak on Tuesday following the previous day's muted performance.
“From
a technical perspective, the benchmark FBM KLCI after a cumulative drop
of 33.1-point or 2.0% over the past four days could slip further on the
back of persisting selling pressures ahead,” it said. HDBSVR said
overnight key US equity indices were down between 0.4% and 1.0% at the
closing bell as hopes for stimulus measures from the Federal Reserve
was tempered by renewed concerns on Greece's deteriorating financial
condition. At Bursa Malaysia, it said against the subdued market
outlook, counters that may attract a bit more interest would be Petronas Gas, which executed a shareholders agreement with Sabah Energy Corporation to pave the way for the construction and development of LNG regasification facilities in Lahad Datu.
Also in focus could be ECS ICT, in response to its one-for-two bonus issue announcement; and Pintaras Jaya, after being awarded construction works project worth RM22mil.