Market Preview KLCI to start final week of 2015 on positive note, tight 1,660-1770 band seen

by **Cals** Mon 28 Dec 2015, 22:54

Market Preview

[size=28]KLCI to start final week of 2015 on positive note, tight 1,660-1770 band seen

By Surin Murugiah / theedgemarkets.com | December 28, 2015 : 6:29 AM MYT

KUALA LUMPUR (Dec 28): The FBM KLCI is expected to start the final week of 2015 on a positive note today, sustaining the momentum from last week.

Gains, however, may be limited in line with the decline at Wall Street last Thursday, as well as the yet again holiday-shortened trading week given the market close on Friday, Jan 1.

The FBM KLCI could trade range-bound within a tight band between 1,660–1,670 points.

Oil prices gained for a fourth straight day last Thursday, while equity markets were quiet headed into the Christmas holiday, according to Reuters.

A number of major bourses, including those in Germany, Brazil and Norway were closed on Thursday, while several other markets closed early for the Christmas holiday, it said.

Meanwhile, Wall Street dipped modestly, though the Nasdaq eked out a sliver of a gain, on an abbreviated day that ended at 1pm (1800 GMT). The Dow Jones industrial average fell 0.29% to 17,552.17, the S&P 500 lost 0.16% to 2,060.99, and the Nasdaq Composite added 0.05% to 5,048.49, said Reuters.

Based on corporate announcements and news flow last Wednesday, companies that could be in focus today areMulti-Code Electronics Industries (M) Bhd ([You must be registered and logged in to see this image.] Valuation: 0.90, Fundamental: 1.45), DRB-Hicom Bhd ( Valuation: 2.00, Fundamental: 0.00), Malaysia Building Society Bhd ( Valuation: 2.55, Fundamental: 1.20), Boustead Heavy Industries Corporation Bhd ( Valuation: 0.30, Fundamental: 0.45), Silk Holdings Bhd ( Valuation: 0.30, Fundamental: 0.20), WCT Holdings Bhd ( Valuation: 2.00, Fundamental: 0.80), BTM Resources Bhd ( Valuation: 0.30, Fundamental: 1.65), Guocoland Holdings Bhd, Malaysia Airports Holdings Bhd ( Valuation: 2.00, Fundamental: 0.80), Iris Corporation Bhd ( Valuation: 0.90, Fundamental: 0.35), EG Industries Bhd ( Valuation: 1.50, Fundamental: 1.10) and Protasco Bhd ( Valuation: 1.40, Fundamental: 1.40).

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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