UOB Kay Hian Malaysia Research expects Malaysian equities to be energised in 1H17 by a firmer ringgit and general election buzz.
KUALA LUMPUR: JF Apex Research expects MyEG Services, Inari Amertron
, SapuraKencana Petroleum and Wah Seong to be among the stocks which could see trading interest on Friday.
It said MyEG has confirmed that the five-year government concession to provide online renewal of temporary employment passes for foreign workers is valued at RM553.85mil.
Earlier, MyEG said it had signed the concession agreement on March 1 to provide the service from May 23, 2015 to May 22, 2020.
Inari Amertron has terminated its plan to form a joint venture with a Taiwanese firm to provide outsourced semiconductor assembly and test (OSAT) services in China;
SapuraKencana bagged multiple contracts worth a combined US$97.4mil (RM433.6mil).
Wah Seong, the group is buying a Finland-based steel pipe coating plant for €15.08mil (RM70.67mil) to supply coated steel pipes to Nord Stream 2 project.
Overnight on Wall Street, US markets took a breather and ended lower overnight after its recent rally to record highs as banking counters declined.
European stocks also closed lower amid earnings and political uncertainty with France's presidential election nearing.
At Bursa Malaysia, the FBM KLCI rallied 17.98 points to close at its highest since April 2016 at 1,715.67.
“Following the negative performance in the US and Europe, the KLCI could face profit taking and hover below the resistance of 1,730 after yesterday's huge jump,” said JF Apex Research.
Limited time offer:
Just RM5 per month.
