Business News

Published: Thursday March 7, 2013 MYT 12:00:00 AM
Updated: Thursday April 18, 2013 MYT 1:21:30 AM

KHSB, Gamuda, Puncak Niaga, AirAsia to see trading interest

KUALA LUMPUR: JF Apex Research expects KHSB, Gamuda, Puncak Niaga and AirAsia to see trading interest on Thursday.

It said KHSB could continue to attract investors' interest as KDEB might pay 10% more than the earlier 76 sen per share to buy a controlling stake in the group.

JF Apex Research added Gamuda and Puncak Niaga could also see trading interest following the latest corporate development on the Selangor government's proposed takeover of the water assets in the state.

AirAsia has obtained India's Foreign Investment Promotion Board appoval to take up 49% stake in a joint venture to set up AirAsia India.

Overnight on Wall Street, US stocks ended higher Wednesday, with the Dow extending its gains to post a record high for the second straight day, amid signs of improvement in the labor market.

The Dow Jones Industrial Average rose 42.47 points to end at 14,296.24, after briefly crossing above 14,300 for the first time earlier in the session.

However, European shares fell on as investors booked profits on a rally that had sent several markets to multi-year highs, led by weakness in the mining sector after metals prices fell.

JF Apex Research said on the local market, the FBM KLCI jumped 9.76 points to a seven-week high of 1651.84 points.

“Following the optimism in the US, we expect the spillover effect to lift the local market further,” said the research house.

Tags / Keywords: News, Business, JF Apex Research, KHSB, Gamuda, Puncak Niaga and AirAsia, Business


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