MARKET DEVELOPMENT
Trading Ideas: Puncak Niaga, Gamuda, Plantations, Sime Darby, Destini
Trading Ideas: Puncak Niaga, Gamuda, Plantations, Sime Darby, Destini
08/04/2014 (The Star) - JF Apex Research expects Puncak Niaga, Gamuda, plantation counters, construction and property counters, Sime Darby and Destini to see trading interest on Tuesday.
It said Puncak Niaga and Gamuda would be in focus after the Federal Government’s move to invoke Section 114 of the Water Services Industry Act 2006 (WASIA)to assume control of water operations in Selangor on national interest.
Plantation counters could also attract attention after a Bloomberg survey indicated that the palm oil stocks may fall for a third month in March, to the lowest level in three years.
Airline, construction and property counters could also see trading interest after Malaysia and Singapore reiterated on the collaborative projects such as High Speed Rail, Rapid Transit System, third bridge linking Johor and Singapore, and continued effort in developing Iskandar Malaysia.
JF Apex Research said as for Sime Darby, the group has agreed to sell its power business, Port Dickson Power (PDP) to Malakoff for RM300mil.
Also in focus could be Destini after the group won a RM99mil defence contract.
As for the FBM KLCI, it expects the index to follow a global stock selloff last night with the support level at 1,820.
Overnight on Wall Street, US stocks on Monday declined for a third session with the DJIA dropped 166.84 points, or 1% weighed down by decline in blue chips.
JF Apex Research said similarly, a global stock selloff, led by the technology sector, weighed on major European bourses on Monday, which all closed lower. The pan-European Stoxx 600 index closed around 1.2% lower, snapping a nine-day winning streak.
It said Puncak Niaga and Gamuda would be in focus after the Federal Government’s move to invoke Section 114 of the Water Services Industry Act 2006 (WASIA)to assume control of water operations in Selangor on national interest.
Plantation counters could also attract attention after a Bloomberg survey indicated that the palm oil stocks may fall for a third month in March, to the lowest level in three years.
Airline, construction and property counters could also see trading interest after Malaysia and Singapore reiterated on the collaborative projects such as High Speed Rail, Rapid Transit System, third bridge linking Johor and Singapore, and continued effort in developing Iskandar Malaysia.
JF Apex Research said as for Sime Darby, the group has agreed to sell its power business, Port Dickson Power (PDP) to Malakoff for RM300mil.
Also in focus could be Destini after the group won a RM99mil defence contract.
As for the FBM KLCI, it expects the index to follow a global stock selloff last night with the support level at 1,820.
Overnight on Wall Street, US stocks on Monday declined for a third session with the DJIA dropped 166.84 points, or 1% weighed down by decline in blue chips.
JF Apex Research said similarly, a global stock selloff, led by the technology sector, weighed on major European bourses on Monday, which all closed lower. The pan-European Stoxx 600 index closed around 1.2% lower, snapping a nine-day winning streak.