MARKET DEVELOPMENT
Trading Ideas: Plantations, Property, SEGi
Trading Ideas: Plantations, Property, SEGi
05/03/2014 (The Star) - Hwang DBS Vickers Research (HDBSVR) expects plantations, property companies and SEG International to see trading interest on Tuesday.
It said plantation companies could be in focus as the two-day Palm & Lauric Oil Conference officially kicks off, which will shed more light on the crude palm oil price outlook.
Property developers could also attract attention after EPF unit Kwasa Land shortlisted 20 pre-qualified companies to undertake the town centre development of the Kwasa Damansara township in Sungai Buloh.
HDBSVR said on the corporate front, the attention may fall on SEGi after a local business daily said its major shareholder Tann Sri Clement Hii is considering to privatise the education services provider following the purchase of additional shares.
Overnight on Wall Street, major US stock indices lost between 0.7% and 0.9%, falling in tandem with the global equities selloff.
“Essentially, investors are turning jittery due to concerns that the rising geopolitical tension in Ukraine might spiral out of control.
“Back home, the FBM KLCI – after slipping just below the support-turned-resistance level of 1,825 yesterday – could back off a bit more today.
“At the moment, the futures market is also indicating further downsides ahead, with the FBM KLCI March futures month currently trading at 1,814 or 10.7-point discount to the spot rate,” said HDBSVR.
It said plantation companies could be in focus as the two-day Palm & Lauric Oil Conference officially kicks off, which will shed more light on the crude palm oil price outlook.
Property developers could also attract attention after EPF unit Kwasa Land shortlisted 20 pre-qualified companies to undertake the town centre development of the Kwasa Damansara township in Sungai Buloh.
HDBSVR said on the corporate front, the attention may fall on SEGi after a local business daily said its major shareholder Tann Sri Clement Hii is considering to privatise the education services provider following the purchase of additional shares.
Overnight on Wall Street, major US stock indices lost between 0.7% and 0.9%, falling in tandem with the global equities selloff.
“Essentially, investors are turning jittery due to concerns that the rising geopolitical tension in Ukraine might spiral out of control.
“Back home, the FBM KLCI – after slipping just below the support-turned-resistance level of 1,825 yesterday – could back off a bit more today.
“At the moment, the futures market is also indicating further downsides ahead, with the FBM KLCI March futures month currently trading at 1,814 or 10.7-point discount to the spot rate,” said HDBSVR.