Bursa Malaysia - Today's Market Preview
The selling may not be over yet for Asian equities following Wall Street’s extended losses on Friday. Major U.S. equity indices lost between 0.6% and 1.2% at the closing bell dragged down by continued political uncertainty in Greece.
Back home, the FBM KLCI could face renewed downward pressures today. On the chart, the benchmark index may test the immediate support level of 1,530 ahead.
Hoping to buck the weak market trend are stocks with positive news flows such as:
(a) Favelle Favco, which has secured orders to supply cranes amounting to RM60m; and
(b) TAS Offshore, after clinching contracts for the sale of oil & gas support vessels valued at RM98m.