KUALA LUMPUR: Hwang DBS Vickers Research said after the moderate climb on Tuesday, Oct 19, it expects the Malaysian stock market to slide backwards on Wednesday.

In particular, sentiment could be hit by the jittery overnight performance on Wall Street. Major U.S. equity indices plunged between 1.5% and 1.8% at the closing bell as there were fears that the sub-prime mortgage problems might come back to haunt the U.S. banks.

"If so, then the benchmark FBM KLCI may give back all the 8.0-point gains made yesterday and possibly more. Technically speaking, the key market barometer will likely be on its way towards the immediate support level of 1,465 on profit-taking pressures.

"Meanwhile, later in the evening, BAT is next in the pipeline to announce the latest earnings report card for the July - September quarter," it said.