KUALA LUMPUR: JF Apex Research expects the FBM KLCI to consolidate above 1,860 on Monday, riding on the positive momentum after the recent surge and strong close on Wall Street.
Last Friday, the KLCI surged 16.50 points to close at 1,862.58 and the research house expects the momentum to follow through.
US markets rose as the Nasdaq extended its all-time high. Similarly, European stocks closed higher on corporate earnings and improved Germany business sentiment in April.
Stocks to watch on Monday are Malton after it secured a RM703mil construction job from for the Pavilion Damansara Heights development at Pusat Bandar Damansara. Impian Ekspresi is indirectly controlled by Malton executive chairman Tan Sri Lim Siew Choon,
MISC does not plan to sell its petroleum tanker unit, AET Tankers Ltd.
Bina Puri has secured RM123.32mil worth of interior design works from the Public Works Department for the new Sabah State Administrative Centre in Kota Kinabalu.
Supermax is diversifying into the manufacturing of contact lenses.
Teo Seng is acquiring entire interest in loss-making BH Fresh Food Pte Ltd (BHFF) for S$9.8mil (RM26.4mil) cash, which owns a factory with cold, freezer and chiller rooms in Singapore.
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