Foreign funds sold down their shareholdings in Malaysian equities in the week ended Sept 24 with net selling at RM1.268bil
KUALA LUMPUR: Freight Management, DRB-Hicom and IHH Healthcare are among the stocks which could see trading interest on Thursday after their corporate news, says JF Apex Research.
Freight Management has obtained a licence from the Ministry of Communications and Multimedia Malaysia to operate a courier service to serve both the domestic and international markets.
The research house said as for DRB-Hicom, its plan to build a high-end boutique luxury mixed development project on Langkawi’s Rebak Island has hit a snag.
The conglomerate, which owns the Rebak Marina Resort on the island, failed to get the Kedah government’s approval to change the status of 134.76ha there to non-Malay Reserve.
Other companies which could see trading interest include IHH, Hap Seng Plantations, Magnum, Econpile and Genting Plantations.
Amway achieved better on-year quarterly results, whilst TH Heavy, Dayang, Tambun Indah, Engtex, MBM Resources, IJM Plantations recorded weaker on-year financial results.
Overnight on Wall Street, US markets closed lower after President Donald Trump threatened to shut down the government if his border wall is not funded.
Earlier, European stocks ended lower with media counters being the laggards.
At Bursa Malaysia, the FBM KLCI lost 1.28 points to end Wednesday at 1,772.94.
“Following the bearish performance in the US and Europe, the KLCI could remain lacklustre and hover sideways below the resistance of 1,800,” it said.
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