KUALA LUMPUR: Axis REIT, Wah Seong, Lotte Chemical and CIMB Group are among the stocks which could see trading interest on Tuesday after their corporate announcements, says JF Apex Research.
Axis REIT plans to buy 126.55 acres of land with the buildings for RM155mil cash from five subsidiaries of Wah Seong. The properties will then be leased back to Wah Seong.
Lotte Chemical Titan has received share buy-back requests for 34.81 million shares from retail investors and MITI-approved non-cornerstone Bumiputera investors eligible for the offer, representing a take-up rate 58.8%.
CIMB's subsidiary Touch 'n Go has teamed up with Alipay, a subsidiary of Ant Financial Services Group to launch a new e-wallet platform in Malaysia.
Overnight on Wall Street, US markets ended mixed overnight with the Nasdaq hitting a record high lifted tech counters amid corporate earnings announcements.
Similarly, European stocks closed mixed after being weighed by automotive counters after reports of EU investigating an alleged collusion between German carmakers.
At Bursa Malaysia, the FBM KLCI gained 2.83 points to close at 1,761.99.
“Following the recent gains, the KLCI could climb further towards resistance of 1770 points to break its sideways channel,” it said.
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