Year-end bull run likely amid window-dressing
Focus on selected key stocks will further support movement in the Malaysian bourse as it heads for further upside next year, backed by real economic growth.
SHARES on Bursa Malaysia are expected to move firmer in the final five days of trading this year as investors continue with their window-dressing activities, placing their bets on potential winners for 2011.
Although inflow of funds could be limited due to Christmas and New Year holidays, focus on selected key stocks will further support movement in the local bourse as it heads for further upside next year, backed by real economic growth.
At the end of last week, the FBM KLCI gained 11.7 points week-on-week to 1,511.58 points from 1,499.88 points previously.
It has added RM9.88 billion in market capitalisation, increasing the level to RM1.27 trillion. Year-to-date, the index has gained 18.76 per cent.
A dealer pointed out that if the FBM KLCI manages to break the first resistance level of 1,525 in the near term, there is a possibility of upward bias continuing until later next week.
Among the stocks to watch this week are PLUS Expressways, Sime Darby and glove maker Adventa Bhd.
PLUS, which received a last-minute takeover bid of RM26 billion from Jelas Ulung Sdn Bhd last Monday, was among the most active counters on Bursa Malaysia. Deadline for the takeover bid has been extended to January 10 2011.
Last Friday, PLUS ended trading 1 sen higher at RM4.61 with 4 million shares changing hands.
Meanwhile, Adventa was hot on market speculation earlier last week that it could be a potential acquisition target by a US-based company.
The total weekly volume declined to 5.747 billion shares valued at RM7.67 billion from 5.865 billion shares valued at RM8.72 billion previously.
Main Market turnover rose to 4.364 billion shares valued at RM7.354 billion from 4.335 billion shares valued at RM8.45 billion before.
Turnover on the ACE Market dropped to 218.796 million shares worth RM52.699 million from 303.966 million units worth RM56.618 million previously.
SHARES on Bursa Malaysia are expected to move firmer in the final five days of trading this year as investors continue with their window-dressing activities, placing their bets on potential winners for 2011.
At the end of last week, the FBM KLCI gained 11.7 points week-on-week to 1,511.58 points from 1,499.88 points previously.
It has added RM9.88 billion in market capitalisation, increasing the level to RM1.27 trillion. Year-to-date, the index has gained 18.76 per cent.
A dealer pointed out that if the FBM KLCI manages to break the first resistance level of 1,525 in the near term, there is a possibility of upward bias continuing until later next week.
Among the stocks to watch this week are PLUS Expressways, Sime Darby and glove maker Adventa Bhd.
PLUS, which received a last-minute takeover bid of RM26 billion from Jelas Ulung Sdn Bhd last Monday, was among the most active counters on Bursa Malaysia. Deadline for the takeover bid has been extended to January 10 2011.
Last Friday, PLUS ended trading 1 sen higher at RM4.61 with 4 million shares changing hands.
Meanwhile, Adventa was hot on market speculation earlier last week that it could be a potential acquisition target by a US-based company.
The total weekly volume declined to 5.747 billion shares valued at RM7.67 billion from 5.865 billion shares valued at RM8.72 billion previously.
Main Market turnover rose to 4.364 billion shares valued at RM7.354 billion from 4.335 billion shares valued at RM8.45 billion before.
Turnover on the ACE Market dropped to 218.796 million shares worth RM52.699 million from 303.966 million units worth RM56.618 million previously.
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