Published: Friday June 22, 2012 MYT 8:12:00 AM
HDBSVR sees regional markets pulling back
KUALA LUMPUR: Hwang DBS Vickers Research expect Asian equities to be impacted on Friday on renewed concerns over a slowing global economy.
In its market outlook, it said these worries caused the overnight fall on Wall Street. Key US equity indices slumped between 2.0% and 2.4% at the closing bell as investors turned bearish. “Consequently, Asian equities are going to be hit today. Back home, the benchmark FBM KLCI is expected to pull back deeper towards its immediate support level of 1,580 ahead,” it said. HDBSVR said stocks which were likely to be see selling pressure on Friday include index heavyweights that were on the rise recently.
However, the research house said George Kent shares could buck the weak market trend amid news report that a consortium led by the company has won the bid for a light rail transit extension line systems contract valued at RM960mil.