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Categories
| HDBSVR sees lift for stocks from firmer Wall Street |
| Business & Market 2010 | |||
| Written by Hwang DBS Vickers Research | |||
| Friday, 30 April 2010 10:05 | |||
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KUALA LUMPUR: Hwang DBS Vickers Research hopes to see the Malaysian bourse ending the week on a positive note, riding on the overnight strength of Wall Street.
It said on Friday, April 30 after showing resilience in recent days, its benchmark FBM KLCI may challenge the stiff resistance level of 1,340.
Major US stock indices jumped between 1.1% and 1.6% at the closing bell as sentiment were buoyed by a steady stream of strong corporate earnings reports while investors also took a view that the sovereign debt problems in Greece and Portugal would come under control.
"Hence, we will probably get a lift from the improving external mood since news flows on the domestic scene will still be thin.
Just the monthly banking statistics for March are scheduled for release this evening, which may be of little significance from the perspective of stock market investors immediately," it said.
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