Today's Market Preview (3007) – Bursa Malaysia
There was a powerful surge on Wall Street on Friday. Major U.S. equity indices jumped between 1.5% and 2.2% at the closing bell lifted by hopes that the policymakers in the U.S. and Europe would act to boost their economies.
The positive vibes may spill on to our local bourse today. On the chart, the benchmark FBM KLCI – after a decline of 18.1-pointor 1.1% last week – could recover towards the immediate resistance line of 1,635.
Among the stocks that will likely ride on the technical rebound today include beaten-down index constituents such as Maxis, MMC Corporation and AirAsia. Meanwhile, MRCB is expected to bag a MRT contract valued at RM1b sometime this week according to one local news report.
Previous day action: Malaysia Market roundup