Boosted by expectations that U.S. and European policy makers would step in with additional economic stimulus measures, key indices on Wall Street climbed between 0.6% and 1.2% last night. This could provide buying support for Asian equities ahead.
Still, in the run-up to Greece’s election this Sunday, some investors are expected to stay on the sideline until there is better clarity on Greece’s political implications on the eurozone’s financial system. Back home, riding on technical rebound, the benchmark FBM KLCI may rise towards the immediate resistance barrier of 1,580.
Amid the quiet market backdrop, of added interest on our local bourse today are stocks like: (a) Sime Darby, which plans to invest RM1.4b over the next three years to grow its port operations in Weifang, China; (b) Ramunia, after being awarded fabrication contracts from Shell worth RM178m; and (c) EP Manufacturing, as its proposed acquisition of Maju Expressway for RM1.7b has apparently hit a snag following delays in getting government approval.
below: Previous day’s action: Malaysia market round-up (click to enlarge)