Trading ideas: Hua Yang, SP Setia, Ekovest

KUALA LUMPUR: JF Apex Research expects Hua Yang, SP Setia and Ekovest to be among the stoks which could see trading action after their corporate news.

It said on Wednesday Hua Yang’s net profit fell 65.5% on-year to RM10.42mil for its 3QFY17 on the back of lower revenue.

As for SP Setia, its S P Setia (Indonesia), Sime Darby Bhd and I&P Group Sdn Bhd have decided not to pursue the joint venture with Indonesia’s PT Hanson International Tbk. The JV was to undertake an affordable housing project in Greater Jakarta.

Ekovest will undertake a RM6.32bil job to build an expressway that consists of Kampung Baru Link, Istana Link and Kapar Link Expressway in the Klang Valley. The new expressway will be linked to the existing DUKE highway.

Overnight on Wall Street, US markets ended negative led by financial counters due to concerns about President-elect Donald Trump's policies. 
European stocks were also lower after UK Prime Minister Theresa May's speech with rising concerns on “hard” Brexit. 

At Bursa Malaysia, the FBM KLCI gained 4.19 points to close at 1,663.03. Following the bearish performance in the US and Europe, KLCI is expected to remain cautious and hover below the resistance of 1,680.