Trading ideas: MMC, Gamuda, Pstech, WCT, Econpile

KUALA LUMPUR: JF Apex Research expects MMC, Gamuda, Pstech, WCT and Econpile to be among the stocks to watch on Friday after their corporate announcements.

It said the MMC and Gamuda JV consortium has bagged the tunneling works for the construction of the MRT2, valued at RM15.47bil.

Pestech won a RM318mil contract to upgrade the Klang Valley Double Track (KVDT) infrastructure.

WCT bagged a RM133.93mil contract to redevelop the police quarters at Bandar Ulu Kelang in Gombak, Selangor.

As for Econpile, the group has clinched a RM51.63mil contract to undertake the  piling and construction of the basement for a hotel in Penang

JF Apex Research said US markets ended slightly lower Thursday ahead of the monthly employment report due Friday. 

Similarly, European shares closed lower as investors awaited the key US jobs data. 

At Bursa Malaysia, the FBM KLCI lost 0.24 point to settle at 1,717.58.
“Asian markets are set for mixed open today ahead of China factory activity data,” it said. 

Following the overnight muted performance in the US and Europe, the KLCI is expected to be under selling pressure arising from the profit taking with immediate support at 1,700, it said.

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