KUALA LUMPUR: Hwang DBS Vickers Research said the waiting game will likely continue pending the emergence of fresh market leads.
As such, the benchmark FBM KLCI may remain stuck inside a narrow trading range – possibly with a slight downward bias – on Tuesday, Aug 10.
“This does not necessarily mean there would be no individual share price actions. Selectively, we could see interest in:
(a) plantation shares in reaction to the plantation statistics report for July due for release today, providing the latest supply-demand balance for investors to assess the CPO price outlook after it rallied to a 15-month high (at RM2,730/tonne) yesterday; and
(b) the listing of 30.7m free warrants in Notion VTech, amid the recent tumble of its mother share price to below the exercise price of RM2.55,” it said.
OSK Research said in terms of macro data, the Index of Industrial Production (IPI) for June will be out this evening with one media survey projecting an annual growth rate of 11.7%.
Later Tuesday night, the focus will be on the U.S. Federal Open Market Committee meeting. Whilst the policymakers are likely to keep the federal funds rate at almost zero, they may announce new measures to stimulate the economic growth prospects.
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