KUALA LUMPUR: JF Apex Research expects Ancom Bhd, Nylex (Malaysia) Bhd, WCT Holdings Bhd
and AirAsia Group Bhd to be among the stocks to watch following their latest corporate news.
Ancom and Nylex have reassured shareholders that their operations remain unaffected by the four-day remand of their top executive Datuk Siew Ka Wei by the Malaysian Anti-Corruption Commission. Siew is the executive chairman of Ancom, and the group managing director of Nylex,
WCT and China-based China Communications and Construction Group (CCCG), will jointly develop the first residential project at the Tun Razak Exchange (TRX) here, with an estimated gross development value (GDV) of RM1.1bil.
AirAsia, which is divesting its aircraft leasing business to entities managed by BBAM Ltd Partnership, said plans to lease five of the aircraft to third party airlines with an enterprise value of US$173.67mil have been aborted.
Meanwhile, US market rose for a fourth straight day after minutes from the Federal Reserve meeting confirms the chairman's statement about slower rate hikes.
Earlier, European stocks advance due to optimism on the US-China trade talks.
“Following the bullish performance in the US and Europe, the FBM KLCI could be positive today and climb towards its resistance of 1,710 points,” JF Apex said.
The research house said the technical indicators for FBM KLCI were mixed with the RSI declining below the overbought zone while the MACD trended sideways above its signal line.
“The selldown in the past few months hit a low of 1,626 points last month before rebounding and tested the 50-day moving average.
“The index could remain sideways above the support of 1,660 points until it breaches the 50-day moving average,” JF Apex said.
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