Today's Malaysia Stock Market Preview 2604
A relief rebound could be in store for Asian equities today. This follows an overnight rise on Wall Street, which saw its key indices climbing between 0.2% and 2.3% at the closing bell.
Essentially, sentiment was boosted by strong U.S. corporate earnings momentum and optimism that the Federal Reserve would step in to stimulate the economy if necessary. The positive vibes on the external front could give a push to our local bourse with the benchmark FBM KLCI possibly pulling away from the immediate support line of 1,580 ahead.
Stocks that may be in the limelight today include:
(a) DiGi, after announcing a capital distribution of 6.4 sen/share and an interim tax-exempt DPS of 5.9 sen, translating to an overall yield of 3.1%;
(b) Ramunia, as local news reported that it has received a conditional letter of intent from oil major Shell to undertake fabrication works; and
(c) Privasia, which has won a RM13m contract
to supply, install and maintain fibre optic network in Malacca. Separately, Malaysia Airports is due to release its financial results this afternoon.