ETP roadmap may drive up market
The Malaysian stock market may trade higher this week ahead of the official launch of the Economic Transformation Programme (ETP) and the hype surrounding an imminent general election.
The ETP roadmap, which will be launched today, is expected to raise the country's gross national income to RM1.7 trillion by 2020. It is also set to generate 3.3 million jobs by then.
Investors may also be excited by the pre-election hype, after Prime Minister Datuk Seri Najib Razak asked Umno party members to get ready for the 13th general election.
Analysts expect the benchmark FTSE Bursa Malaysia KLCI to be around the 1,486-1,503 level and re-test the 1,500 psychological level this week.
It will be crucial for the FBM KLCI to crack the 1,500 level this week. According to OSK Research in a report, it will continue to have a bullish bias as long as "stock market maintains a posture at above the new uptrend line". In this case, it means surpassing the 1,500-point level.
Last week, the index, which started the week at 1,489.86 points, closed marginally higher at 1490.64 points. During the period, the local bourse's market capitalisation grew by RM5.65 billion, or 0.5 per cent, to RM1.185 trillion.
Karambunai Corp Bhd, whose shares were actively traded last week, is likely to be one of the heavily-traded stocks this week. Its major shareholder plans to partner a China-based group to develop a nature-based resort in Sabah.
Others such as LBS Bina Group Bhd, MTD Capital Bhd, Uzma Bhd and Alam Maritim Resources Bhd may be in the spotlight this week, mainly due to its corporate developments late last week.
For example, LBS signed a letter of intent to sell stakes in two of its joint-venture companies for 200 million renminbi (RM94 million), Uzma won a sub-surface studies services contract, while Alam Maritim signed a memorandum of understanding (MOU) with Yayasan Sabah Shipping Sdn Bhd, a unit of Yayasan Sabah Group. The MOU opens up the possibility of both parties collaborating and forming a joint venture company to be involved in various offshore projects.
The ETP roadmap, which will be launched today, is expected to raise the country's gross national income to RM1.7 trillion by 2020. It is also set to generate 3.3 million jobs by then.
Investors may also be excited by the pre-election hype, after Prime Minister Datuk Seri Najib Razak asked Umno party members to get ready for the 13th general election.
Analysts expect the benchmark FTSE Bursa Malaysia KLCI to be around the 1,486-1,503 level and re-test the 1,500 psychological level this week.
It will be crucial for the FBM KLCI to crack the 1,500 level this week. According to OSK Research in a report, it will continue to have a bullish bias as long as "stock market maintains a posture at above the new uptrend line". In this case, it means surpassing the 1,500-point level.
Last week, the index, which started the week at 1,489.86 points, closed marginally higher at 1490.64 points. During the period, the local bourse's market capitalisation grew by RM5.65 billion, or 0.5 per cent, to RM1.185 trillion.
Karambunai Corp Bhd, whose shares were actively traded last week, is likely to be one of the heavily-traded stocks this week. Its major shareholder plans to partner a China-based group to develop a nature-based resort in Sabah.
Others such as LBS Bina Group Bhd, MTD Capital Bhd, Uzma Bhd and Alam Maritim Resources Bhd may be in the spotlight this week, mainly due to its corporate developments late last week.
For example, LBS signed a letter of intent to sell stakes in two of its joint-venture companies for 200 million renminbi (RM94 million), Uzma won a sub-surface studies services contract, while Alam Maritim signed a memorandum of understanding (MOU) with Yayasan Sabah Shipping Sdn Bhd, a unit of Yayasan Sabah Group. The MOU opens up the possibility of both parties collaborating and forming a joint venture company to be involved in various offshore projects.
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