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Thursday, November 29, 2012

DJ MARKET TALK: Malaysia Shares Likely In 1600-1617 Band - HwangDBS

DJ MARKET TALK: Malaysia Shares Likely In 1600-1617 Band - HwangDBS


 


0046 GMT [Dow Jones] Malaysia shares will likely struggle to find more upside after the benchmark KLCI staged a technical rebound Wednesday; "On the chart, we reckon the KLCI will likely run into resistance at the 160-day moving average line which presently hovers at 1617," says HwangDBS. Immediate support is seen at the psychological 1600 mark, the house adds. The KLCI ended up 0.5% at 1606.52 Wednesday. Among stocks in focus, Maxis (6012.KU) may fall after its latest quarterly profits came in below expectation, while Axiata Group (6888.KU) is scheduled to release its quarterly results during the midday break

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