Business News

Published: Friday March 8, 2013 MYT 12:00:00 AM
Updated: Thursday April 18, 2013 MYT 1:25:37 AM

Scomi, IJM, DiGi, IOI, property to see trading interest

KUALA LUMPUR: JF Apex Research expects Scomi and its major shareholder IJM Corporation to see trading interest on Friday. Also in focus would be plantations, DiGi, IOI Corporation and property counters.

It said Scomi and IJM could see trading action after Scomi received a RM2.1bil contract from Petronas Carigali.

As for plantation counters, Reuters reported that inventory could fall 6.1% in February to 2.42 million tonnes which eased Malaysian palm oil stock to a six-month low.

JF Apex Research said DiGi would be included in the FTSE/ASEAN 40 index while the IOI Corp would be excluded.

Trading interest could perk up in property counters as the Abu Dhabi based sovereign fund may invest significantly in Tun Razak Exchange. PEMANDU said that the Economic Transformation Programme would attract more investors in local property sector.

On Wall Street, US stocks finished higher Thursday, with the Dow Jones Industrial Average posting fresh all-time highs for the third-straight day, following an upbeat weekly jobless claims report and ahead of the widely-watched monthly government jobs data.

European shares ended slightly lower, held back by a post-results slump for British insurer Aviva, and some said they expected the pullback to continue in the short term.

At Bursa Malaysia, the FBM KLCI closed 0.91 points lower at 1,650.93 after failing to beat the resistance level of 1,656.

“Following the optimism in the US, the FBM KLCI could retest its resistance level as concerns on elections wane,” said JF Apex Research.

Tags / Keywords: News, Business, JF Apex Research, Scomi, IJM Corporation, plantations, DiGi, IOI, property counters, Business

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