KUALA LUMPUR: JF Apex Research expects Genting Bhd
, Gas Malaysia, Ewein and Media Prima to be among the stocks to watch on Friday.
Genting’s subsidiary, Genting Singapore PLC suffered a net loss of S$16.93mil in 2QFY15, due to the downturn in the Asian gaming industry.
JF Apex Research said Gas Malaysia’s 2QFY15 net profit fell 31.1% on-year to RM33.68mil due to lower gross profit amid higher revenue.
Ewein will develop the Wellness City of Dreams at Bandar Tanjong Pinang, Penang with a gross development value (GDV) of RM15bil through its JV.
As for Media Prima, the research house said the company’s 2QFY15 net profit rose 22.6% on-year on lower operating expenses and finance costs.
On Wall Street, US stocks pared their gains and ended lower despite improved retail sales data and easing concerns on China. European markets rose following optimism on Greece's third bailout and China's central bank assured no further devaluation of its currency.
At Bursa Malaysia, the FBM KLCI rose 11.69 points to 1,621.62.
“Following the mixed performance in the US and Europe, we expect the KLCI to trade sideways and consolidate above the 1,600 level after the recent selldown,” said JF Apex Research.
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