Trading ideas: SapuraKencana, Mah Sing, IJM Corp
SKPETRO (5218), MAHSING (8583), IJM (3336)
KUALA LUMPUR: JF Apex Research expects SapuraKencana Petroleum, Mah Sing Group Bhd and IJM Corp to see trading interest on Friday amid the barrage of fresh corporate news during the second last week of the November reporting season.
Overnight on Wall Street, US stocks closed at highs overnight after encouraging domestic data alleviated concerns over continued signs of slowing growth in Europe and China.
The research house said the Dow Jones Industrial Average ended the day at a record for the 27th time this year, while the S&P 500 closed at a record for the 44th time. Meanwhile, European shares closed lower as investors reacted to worse-than-expected data from the euro zone and disappointing corporate earnings from the mining sector.
At Bursa Malaysia, the FBM KLCI shed 2.10 points to 1,822.29.
“Asian stocks appear set for a mixed open amid a data-light Friday, overlooking Wall Street's higher finish overnight following strong US economic data. We expect the KLCI to remain range bound below 1,830.
“Stocks to watch are: SapuraKencana, the group has acquired interests in several assets in Vietnam from Petronas for US$400mil and also won a Production Sharing Contract (PSC) in Sabah.
“Mah Sing made a cash call of RM630mil via a rights issue and a sweetener of bonus issue. IJM Corp has secured a contract worth RM356mil for the commercial development in Ara Damansara,” said JF Apex Research.
http://www.thestar.com.my
SKPETRO (5218), MAHSING (8583), IJM (3336)
KUALA LUMPUR: JF Apex Research expects SapuraKencana Petroleum, Mah Sing Group Bhd and IJM Corp to see trading interest on Friday amid the barrage of fresh corporate news during the second last week of the November reporting season.
Overnight on Wall Street, US stocks closed at highs overnight after encouraging domestic data alleviated concerns over continued signs of slowing growth in Europe and China.
The research house said the Dow Jones Industrial Average ended the day at a record for the 27th time this year, while the S&P 500 closed at a record for the 44th time. Meanwhile, European shares closed lower as investors reacted to worse-than-expected data from the euro zone and disappointing corporate earnings from the mining sector.
At Bursa Malaysia, the FBM KLCI shed 2.10 points to 1,822.29.
“Asian stocks appear set for a mixed open amid a data-light Friday, overlooking Wall Street's higher finish overnight following strong US economic data. We expect the KLCI to remain range bound below 1,830.
“Stocks to watch are: SapuraKencana, the group has acquired interests in several assets in Vietnam from Petronas for US$400mil and also won a Production Sharing Contract (PSC) in Sabah.
“Mah Sing made a cash call of RM630mil via a rights issue and a sweetener of bonus issue. IJM Corp has secured a contract worth RM356mil for the commercial development in Ara Damansara,” said JF Apex Research.
http://www.thestar.com.my
