Bulls likely to rout bears early in week
Manufacturing stocks like Daibochi Plastic and Packaging Industry and VS Industry are also expected to be in the limelight this week.
KUALA LUMPUR: The bulls are expected to rout the bears in the early part of trade this week, on expectation that the upward trend in the Dow Jones will help lift stocks across Asia.
However, some stocks might come under pressure, due to a slew of variance in their profit and loss, as well as qualifications, in their accounts.
The biggest variance in profit was seen in offshore vessels operator Alam Maritim Resources Bhd, which saw it profits erased from an earlier net profit of RM2.2 million to a loss of RM12.9 million for the financial year ended December 31 2010.
Auditors made cautionary statements on companies such as Nam Fatt Corp Bhd, Eonmetall Group Bhd and Vastalux Energy Bhd for various reasons.
Interest might, however, build up in Mudajaya Group Bhd, after it emerged that a substantial shareholder, United Flagship Sdn Bhd, made a 10 million off market placement of its shares. The shares are worth RM46.3 million.
Manufacturing stocks like Daibochi Plastic and Packaging Industry Bhd and VS Industry Bhd are also expected to be in the limelight this week.
This is as expectation builds up on Nestle's announcement of the setting up of a breakfast cereal plant in Negri Sembilan more than a week ago.
OSK Research Sdn Bhd technical analyst Shin Kao Jack in a note said it will maintain its bullish view on the near-term market.
This is as long as the market does not hit a key low of 1,474 points.
"We shall see if the index can finally pull itself above the 1,544 point-level today or next week. A breakout from the 1,544 point-level will see a continuation of the rebound starting from the key low of 1,474 points," he said.
Jupiter Securities Sdn Bhd research head Pong Teng Siew sees that the holiday-shortened week will limit the index's rise though, capping it at 1,560 points, with a downside of 1,515 points.
"It will be more a stock pick rather than a factor pick," Pong said.
He said the rangebound trading of the market last week, was seen as an affirmation of the research firm's stand that the bull run is over.
The FTSE Bursa Malaysia (FBM) KLCI advanced by about 12 point last week, closing the week at 1,534.95 points.
KUALA LUMPUR: The bulls are expected to rout the bears in the early part of trade this week, on expectation that the upward trend in the Dow Jones will help lift stocks across Asia.
The biggest variance in profit was seen in offshore vessels operator Alam Maritim Resources Bhd, which saw it profits erased from an earlier net profit of RM2.2 million to a loss of RM12.9 million for the financial year ended December 31 2010.
Auditors made cautionary statements on companies such as Nam Fatt Corp Bhd, Eonmetall Group Bhd and Vastalux Energy Bhd for various reasons.
Interest might, however, build up in Mudajaya Group Bhd, after it emerged that a substantial shareholder, United Flagship Sdn Bhd, made a 10 million off market placement of its shares. The shares are worth RM46.3 million.
Manufacturing stocks like Daibochi Plastic and Packaging Industry Bhd and VS Industry Bhd are also expected to be in the limelight this week.
This is as expectation builds up on Nestle's announcement of the setting up of a breakfast cereal plant in Negri Sembilan more than a week ago.
OSK Research Sdn Bhd technical analyst Shin Kao Jack in a note said it will maintain its bullish view on the near-term market.
This is as long as the market does not hit a key low of 1,474 points.
"We shall see if the index can finally pull itself above the 1,544 point-level today or next week. A breakout from the 1,544 point-level will see a continuation of the rebound starting from the key low of 1,474 points," he said.
Jupiter Securities Sdn Bhd research head Pong Teng Siew sees that the holiday-shortened week will limit the index's rise though, capping it at 1,560 points, with a downside of 1,515 points.
"It will be more a stock pick rather than a factor pick," Pong said.
He said the rangebound trading of the market last week, was seen as an affirmation of the research firm's stand that the bull run is over.
The FTSE Bursa Malaysia (FBM) KLCI advanced by about 12 point last week, closing the week at 1,534.95 points.
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