KUALA LUMPUR: JF Apex Research expects Hong Leong Capital, Alam Maritim, plantations and Top Glove to see trading interest on Wednesday.
It said on Wednesday that Hong Leong Capital’s share price closed at RM3 or 75% above the initial offer price of RM1.71.
Alam Maritim’s unit had just bagged two contracts worth RM25mil for underwater services.
Plantation counters could also see interest following the standoff in Sabah and CPO outlook projected by the industry consultants in the annual palm oil conference.
JF Apex Research said as for Top Glove, its newly-acquired associate was buying East wing of The Icon@Tun Razak.
On Wall Street, JF Apex Research said US stocks held near session highs Tuesday, with the Dow Jones Industrial Average shooting up to its highest level ever, following an upbeat ISM non-manufacturing index and amid ongoing monetary support from the Federal Reserve.
Similarly, Europe’s top equity indexes bounced up to multi-year highs, buoyed by the breach of key technical levels, a crop of upbeat corporate outlooks and prospects of continued stimulus from global central banks.
“On the local market, the FBM KLCI rose 6.10 points to 1,642.08 points in line with the bullish performance of global markets. Following the positive momentum, the index could test the immediate resistance of 1,650,” said JF Apex Research.
