MIDF Research said in retrospect, foreigners offloaded -RM19.5bil and -RM6.9bil in 2015 and 2014 respectively.
KUALA LUMPUR: JF Apex Research expects Sumatec Resources, MAA, Fraser and Neave (F&N) and Daibochi Plastic and Packaging to be among the stocks which could see trading action on Thursday.
It said Sumatec Resources, the group and Singapore-listed Hoe Leong Corp Ltd will own the shipping-based special purpose vehicle (SPV) Semua Shipping Sdn Bhd (SSSB), which will then be sold to R&A Telecommunication Group Bhd in exchange for new R&A shares.
MAA is selling its 75%-owned subsidiary, MAA Takaful Bhd, to Zurich Insurance Co Ltd for RM393.75mil cash. Upon completion of the disposal, the board is proposing to declare an interim special dividend of 35 sen per MAA Group share.
F&N’s 2QFY16 net profit rose 28.5% on-year to RM90.57mil on higher sales and better product mix.
Daibochi’s 1QFY16 net profit grew 5.2% on-year to RM6.51mil due to an increase in export sales, especially from a Thailand customer in line with its marketing campaign.
Overnight on Wall Street, US markets closed lower, weighed down by energy counters and mixed economic data on manufacturing and employment. European stocks tumbled following disappointment in corporate earnings and decline in mining counters.
At Bursa Malaysia, the FBM KLCI gained 6.14 points to 1,657.58 after rebounding from an intra-day low of 1,636.05 to buck regional trend.
“Following the bearish global markets, the KLCI is expected to remain lacklustre with support at 1,620. Market direction could be influenced by China's services PMI and Australia's trade data,” said JF Apex Research.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
