KUALA LUMPUR: JF Apex Research expects Guinness Anchor, Yong Tai and BTM Resources to be among the stocks to watch on Wednesday.
It said Guinness Anchor’s 2QFY16 net profit rose 19.3% on-year to RM90.84mil on improved cost efficiency and higher sales. The group o declared an interim dividend of 20 sen a share and a special dividend of 30 sen a share.
Yong Tai cancelled plans to buy Yuten Development Sdn Bhd, thus eliminating its participation in the U-Thant high-end residential project with a gross development value of RM168mil.
BTM Resources ceased acquisition talks for no less than 51% stake in BMW car dealer Pendragon Auto Sdn Bhd.
Overnight on Wall Street, US stocks closed marginally higher amid lower crude oil prices whilst European markets ended strongly with major indices ended up over 1% as mining and energy counters getting a boost from the Chinese economic data.
“We expect the Asian bourses to open higher today after the Chinese central bank said that it would inject more than 600 billion yuan before Lunar New Year to help to ease a liquidity shrink.
“Thus, we expect the FBM KLCI to perform positively today despite lingering concern on sluggish crude oil prices,” it said.
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