Investors could be hoping against hopes that policymakers would be able to resolve the European sovereign debt crisis.

Investors could be hoping against hopes that policymakers would be able to resolve the European sovereign debt crisis. Key U.S. equity indices rose in late trading to close up between 1.4% and 3.0% last night on news that there might be plans to recapitalized European banks.

Still, we expect sentiment to remain cautious ahead. Reflecting this, the DJIA Dec month futures contract was trading at a 125- point discount to the spot rate this morning. Back home, we reckon the benchmark FBM KLCI will probably drift sideways with a marginal positive bias today.

Among the stocks that may see more interest include PLUS, after a daily paper, quoting sources, said the joint offerors (namely EPF and UEM Group) have agreed to pay an extra amount – in addition to an outstanding payment of RM4.45 per share – due to the longer time it is taking to complete the privatization deal.

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