Written by Joseph Chin
Tuesday, 06 October 2009 08:39
KUALA LUMPUR: Hwang DBS Vickers Research expects the bellwether FBM KLCI should gap down when market opens on Tuesday, Oct 6.
In its technical research note, it said the weaker opening comes as the share price of KL Kepong (which is part of the 30-stock FBM KLCI, is expected to plunge immediately following its abrupt jump of RM3.30 or 24% in the final minutes of trading yesterday, which then lifted the benchmark index by 5.8 points.
"Still, investors on our local bourse (and elsewhere in the region) will be relief to see an overnight rebound on Wall Street," it said.
Key U.S. equity indices were up between 1.0% and 1.5% at the closing bell on the back of better investment sentiment.
"On the balance, we will probably see the FBM KLCI extending its consolidation pattern, possibly finishing a little bit weaker by the end of the day," Hwang DBS Vickers Research said.
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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