Trading ideas: GAB, PIE Industrial, Berjaya Auto

KUALA LUMPUR: JF Apex Research expects Guinness Anchor Bhd (GAB), PIE Industrial and Berjaya Auto are among the stocks which could see trading interest on Wednesday.

It said GAB’s net profit for the three months ended March 31, 2016 jumped 29% on-year due to higher sales and improved cost efficiency.

PIE Industrial proposed a one-for-five share split while Berjaya Auto’s management boosted its shareholding in the company via a proposed SPV.

Overnight on Wall Street, US stocks jumped almost 1% overnight as higher oil prices boosted financial and energy counters. Similarly, European markets ended higher after commodity prices climbed.

At Bursa Malaysia, the FBM KLCI extended its sideways trend after shedding 0.28 point to end at 1,715. 

“Following the bullish performance in the US and Europe, the KLCI is expected to retest the stubborn resistance of 1,727,” it said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

Global shares near record on US infrastructure bill
LHI to expand Baker’s Cottage to 280 outlets by end-2023
Oil rises further on tight supply outlook, eyes on OPEC+
Moody's: 5G adoption in Asia Pacific will be uneven
Genting's Kok Thay 'super confident’ on US gambling business
IOI Corp says to assist if US probes alleged forced labour
China's ban forces some bitcoin miners to flee overseas, others sell out
FBM KLCI bounces higher after two-day decline
Toshiba board chairman fails to win reappointment
Bursa gives CCB until Oct 27 to meet public spread, shares slip

Stories You'll Enjoy