Top Story
MAHB:
Price war looms, Airport blooms.
Fair value is raised to RM8.02 based on “sum-of-parts”. Maintain Outperform.
Macro View
Economy:
- Economic Highlights (published 22 Nov).
- Real GDP growth slowed down to 5.3% yoy in the 3Q.
- We expect the country’s exports to slow down in 2011, after a strong rebound in 2010.
- While exports are likely to slow down, we expect domestic demand to be resilient and will likely hold up at 5.5% in 2011.
Technical Highlights
Daily Trading Strategy: Continue to stay range-bound between the SMAs…
- The market’s trading sentiment is likely to stay sluggish in the immediate term
- Regional markets’ sentiment remains uncertain, with the volatility in currencies markets prolong.
- Investors to adopt further “wait-and-see” strategy before deciding the next course of action.
Daily Technical Watch: RCE Capital
- Further buying momentum towards the RM0.715 level soon.
- Immediate support RM0.61
- Immediate resistance RM0.715
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