KUALA LUMPUR: JF Apex Research expects Datasonic, WCT and UEM Edgenta
are among stocks that could see trading interest on Wednesday following fresh corporate news from the day before.
Datasonic bagged a RM318.75mil contract from the Home Ministry to supply Malaysian passport chips for five years or a total of 12.5 million passport chips.
Meanwhile, WCT was awarded a RM322.57mil construction contract for the RAPID project.
UEM Edgenta is acquiring an 80% stake in integrated facilities management specialist KFM Holdings Sdn Bhd for RM128mil.
VS Industry posted 1Q16 net profit of RM60.18mil, 70.8% higher year-on-year due to higher sales from its Malaysian operations and foreign exchange gain.
The research house said another stock to watch is United Malacca Bhd, which proposed to acquire an 83% stake in an Indonesian planter for US$66.4mil (RM285.02mil).
US stocks closed higher on Tuesday, amid recovery in oil prices and expectations for the first rate hike in nine years. Energy and financials jumped more than 2% each to lead all S&P 500 sectors higher.
Similarly, European equities finished sharply higher, inspired by positive data from the auto sector.
The FBM KLCI extended its losing streak by shedding 7.12 points to end at 1622.84 points yesterday.
“Following the positive performance in overseas markets, we envisage the local benchmark index to stage a mild rebound to hover below its resistance level of 1645 points,” JF Apex said.
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