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HDBSVR: KLCI may buck trend, test 1,580
by hlk Thu 14 Jun 2012, 10:07
KUALA LUMPUR: Hwang DBS
Vickers Research(HDBSVR) believes the local bourse could buck the trend
on Thursday and gradually move towards the immediate resistance level
of 1,580.
It said this could be spurred by news that the
European leaders may consider relaxing Greece's austerity measures
after the June 17 elections, raising the prospects of the country
remaining in the euro currency. Overnight on Wall Street, US equity
indices fell between 0.6% and 0.7% as the market reacted to weaker US
retail sales data for the month of May, while higher borrowing costs in
Italy and Germany fueled concern about the global economy. As for the
local stock market, the minimal corporate newsflow may see added
interest in Starhill REIT, after it announced the acquisition of three
Marriott hotels in Australia for RM1.3bil.
Naim Indah Corp
could also see trading interest after it announced that its agreement
to acquire the LPG assets from Shell Trading was terminated.
Vickers Research(HDBSVR) believes the local bourse could buck the trend
on Thursday and gradually move towards the immediate resistance level
of 1,580.
It said this could be spurred by news that the
European leaders may consider relaxing Greece's austerity measures
after the June 17 elections, raising the prospects of the country
remaining in the euro currency. Overnight on Wall Street, US equity
indices fell between 0.6% and 0.7% as the market reacted to weaker US
retail sales data for the month of May, while higher borrowing costs in
Italy and Germany fueled concern about the global economy. As for the
local stock market, the minimal corporate newsflow may see added
interest in Starhill REIT, after it announced the acquisition of three
Marriott hotels in Australia for RM1.3bil.
Naim Indah Corp
could also see trading interest after it announced that its agreement
to acquire the LPG assets from Shell Trading was terminated.
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