JF Apex Research: "Over a medium to long term outlook, we are cautious on the FBM KLCI performance as it still treads below the 100- and 200-day moving averages at 1,650 and 1,700 points respectively."
KUALA LUMPUR: JF Apex Research expects TH Plantations, AWC
, Barakah, SKP Resources and Tiong Nam Logistics to attract trading interest on Tuesday after their strong earnings.
The research house said as for Carlsberg, Tan Chong Motor, UMW Oil and Gas, Scomi, Only World Group, Wellcall and Evergreen they reported lower quarterly results from a year ago.
It said TRC Synergy received a notice of termination from MMC Gamuda KVMRT (PDP SSP) Sdn Bhd for works related to the new Sungai Buloh-Serdang-Putrajaya Mass Rapid Transit Line (MRT Line 2).
The RM74.39mil contract included relocating a craft museum, Karyaneka office and the National Heritage Department office to Bangunan Sultan Abdul Samad as part of the MRT Line 2 project.
Meanwhile, The Store group managing director Tan Sri Tang Yeam Soon and his wife Puan Sri Khor Guik Lee plan a mandatory takeover (MTO) offer for the remaining shares they do not own for RM3.52 a share.
IOI Properties, Gamuda and IJM Corp are likely to be new entrants to the 30-stock FBM KLCI whilst SapuraKencana and YTL Corp are likely to slip out of the FBM KLCI, as highlighted by the media.
Overnight on Wall Street, US markets declined overnight led by financial counters as the post-election rally takes a breather despite higher oil prices on news of Iraq willing to participate in OPEC's production cut. Earlier, European stocks tumbled on political uncertainty in Italy.
At Bursa, the FBM KLCI gained 1.40 points to 1,628.66 points to extend its sideways movement.
“The benchmark index could extend its flattish trend above the support of 1,610 in search of a catalyst,” it said.
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