Published: Thursday July 5, 2012 MYT 8:20:00 AM
HDBSVR expects KLCI to be range bound
KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said the FBM KLCI, after breaking past the first resistance level of 1,610 on Wednesday, would be looking to hold on to its recent gains ahead.
“The benchmark index hovering at a new record high currently is expected to range-bound with a slight positive bias today,” said the research house on Thursday. HDBSVR said this comes amid an absence of overnight external leads as Wall Street was closed for Independence Day.
Bank Negara Malaysia's monetary policy committee will probably decide to leave the overnight policy rate unchanged at a scheduled meeting later in the evening. On the corporate front, investors may find interest in: (a) TRC Synergy, following news report that it has been appointed by MRT Corp to be the main contractor for Sg Buloh depot contract worth RM460mil; and (b) MMC Corporation, which could defer the listing of its power unit Malakoff from Q412 to Q113 according to one media source.