Today's Market Preview From HWangDBS (20 MAY 2011)
There is a chance that the key FBM KLCI would rise towards and challenge the immediate resistance threshold of 1,550 today after making a previous attempt yesterday. In essence, investors around the region are expected to be in a positive mood following the overnight increase on Wall Street with major U.S. bellwethers finishing up between 0.2% and 0.4% at the closing bell.
Possibly giving a lift to our benchmark index ahead are Tenaga (in response to the news that the government might approve an electricity tariff hike as early as next week) and RHB Capital (amid news that several parties are interested to bid for a 25% equity stake currently held by Abu Dhabi Commercial Bank).
Meanwhile, Tanjung Offshore’s share price could come under selling pressures today after its latest quarterly results came in below expectations.
Possibly giving a lift to our benchmark index ahead are Tenaga (in response to the news that the government might approve an electricity tariff hike as early as next week) and RHB Capital (amid news that several parties are interested to bid for a 25% equity stake currently held by Abu Dhabi Commercial Bank).
Meanwhile, Tanjung Offshore’s share price could come under selling pressures today after its latest quarterly results came in below expectations.
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