Written by Chong Jin Hun
Monday, 27 July 2009 23:43
KUALA LUMPUR: The rebound in global equities may offer a platform for Malaysian equities to rise on July 28 as investors price in better sentiments in the US economy.
Wall Street closed slightly higher overnight, led by financial stocks, providing more confidence to local investors.
Malaysian blue-chip stocks are expected to gain with a larger volume and in turn, power mid-cap and lower liner stocks.
"As volumes rise, penny and “retail-like” stocks would also attract very strong retail interest," Maybank Investment Bank wrote in a note.
Companies to watch include numbers forecast operations (NFO) players, which may continue to see buying interest, such as MULTI-PURPOSE HOLDINGS BHD [] (MPHB), Tanjong plc and BERJAYA SPORTS TOTO BHD [] (BToto).
The market had responded to news that MPHB's subsidary Magnum Corp Sdn Bhd had recently received consent from the government to introduce a new 4-digit (4D) game which will incorporate a jackpot element, and, as such, investors were also quick to speculate that Tanjong will be accorded similar treatment by lawmakers.
MPHB on July 27 added five sen to RM1.73 with 11.63 million shares done while Tanjong advanced 40 sen to RM14.70 with 397,700 units transacted. BToto was unchanged at RM4.38.
Meanwhile, shares of Lion Industries Corp Bhd are also expected to fall into investors' radar. Lion is dragged to the spotlight after Vietnam policymakers said they might revoke the licence accorded to the firm to construct a steel mill in the Indochina nation, according to Bloomberg which cited a report from the Dau Tu newspaper.
According to the report, the Vietnam government wants Lion to collaborate with the Vietnam Shipbuilding Industry Group, and confirm its intention for the project.
Monday, 27 July 2009 23:43
KUALA LUMPUR: The rebound in global equities may offer a platform for Malaysian equities to rise on July 28 as investors price in better sentiments in the US economy.
Wall Street closed slightly higher overnight, led by financial stocks, providing more confidence to local investors.
Malaysian blue-chip stocks are expected to gain with a larger volume and in turn, power mid-cap and lower liner stocks.
"As volumes rise, penny and “retail-like” stocks would also attract very strong retail interest," Maybank Investment Bank wrote in a note.
Companies to watch include numbers forecast operations (NFO) players, which may continue to see buying interest, such as MULTI-PURPOSE HOLDINGS BHD [] (MPHB), Tanjong plc and BERJAYA SPORTS TOTO BHD [] (BToto).
The market had responded to news that MPHB's subsidary Magnum Corp Sdn Bhd had recently received consent from the government to introduce a new 4-digit (4D) game which will incorporate a jackpot element, and, as such, investors were also quick to speculate that Tanjong will be accorded similar treatment by lawmakers.
MPHB on July 27 added five sen to RM1.73 with 11.63 million shares done while Tanjong advanced 40 sen to RM14.70 with 397,700 units transacted. BToto was unchanged at RM4.38.
Meanwhile, shares of Lion Industries Corp Bhd are also expected to fall into investors' radar. Lion is dragged to the spotlight after Vietnam policymakers said they might revoke the licence accorded to the firm to construct a steel mill in the Indochina nation, according to Bloomberg which cited a report from the Dau Tu newspaper.
According to the report, the Vietnam government wants Lion to collaborate with the Vietnam Shipbuilding Industry Group, and confirm its intention for the project.