KUALA LUMPUR: JF Apex Research expects AMMB, AirAsia X
, Evergreen Fibreboard and Fitters Diversified to be among the stocks which could see trading interest on Thursday.
AMMB’s 1QFY16 net profit fell 37.6% on-year to RM339.5mil in the absence of a one-off gain a year ago. It reported lower other operating income, net interest income and net income from the insurance business.
AirAsia X’s 2QFY15 net loss widened by 3.2% to RM132.94mil from RM128.79mil a year ago, largely because of foreign exchange (forex) losses from a strong US dollar.
Evergreen Fibreboard returned to profitability in its 2QFY15, with a net profit of RM23.89mil against a net loss of RM21.69mil a year ago, attributable to the lower cost of log and glue, higher operational efficiency and synergistic cost savings derived from the group's recent restructuring of certain operational facilities.
Fitters Diversified is proposing to list its clean energy unit, Fitters-NRG Sdn Bhd, on the Australian Stock Exchange (ASX), via a reverse takeover (RTO) of ASX-listed IFS Constructions Ltd.
Overnight on Wall Street, US markets dropped after the Federal Reserve released its minutes of meeting and oil price declined to fresh lows.
Similarly, European equities tumbled following the Fed's minutes of its July meeting, lower oil price and volatile trading in the Chinese stock market.
JF Apex Research said the FBM KLCI added 2.84 points to close at 1,582.44 on Wednesday buoyed by local funds amid continuous foreign selling.
“We expect the negative sentiment in global markets to weigh on the KLCI with immediate support at 1,545. The prevailing weaknesses in Ringgit and crude oil prices will continue to affect the market sentiment,” the research house said.
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