Trading ideas: Affin, Scanwolf, Press Metal

KUALA LUMPUR: JF Apex Research expects Affin Holdings, Scanwolf and Press  Metal to  be among the stocks to watch on Thursday.

It said Affin Holdings will start talks with Japan's Daiwa Securities Group Inc for the latter to acquire a minority stake in its investment banking arm, Affin Hwang Investment Bank Bhd.

As for Scanwolf, the group said a preliminary findings report from an investigative review on the group’s operations has revealed several “possible irregularities” in the company and certain of its subsidiaries in the property development division.

Press Metal's 1QFY15 net profit jumped 53.9% on-year to RM43.14mil, on higher production output and selling prices.

Overnight on Wall Street, US stocks ended lower following higher bond yields and oil prices as well as anticipation of weaker jobs report due Friday. European markets closed higher as the euro rallied against the US dollar.

At Bursa Malaysia, the FBM KLCI fell 6.45 points to close at 1,820.97 in line with the weaker key Asian markets.

“Following the recent selldown, we expect the index to consolidate and hover above 1,820 with support from the 200-day moving average,”  it said.