Trading ideas: AWC,HLI, Gabungan AQRS, Gadang, Uzma


UOB Kay Hian Malaysia Research expects Malaysian equities to be energised in 1H17 by a firmer ringgit and general election buzz.

KUALA LUMPUR: AWC, Hong Leong Industries, Gabungan AQRS, Gadang and Uzma could see trading interest on Tuesday after their corporate news, says JF Apex Research.

AWC secured two jobs for fire protection services from Sunway Construction Sdn Bhd for a total of RM14.65mil.

Hong Leong Industries reported a 7.52% on-year decrease in its 2QFY17 net profit mainly due to higher operating expenses and foreign exchange losses in the consumer products segment.

Gabungan AQRS is selling its leasehold land in Damansara Perdana to Gadang for RM55.69mil cash as part of its ongoing monetisation programme to raise funds.

As for Uzma, the group has received a three-year contract from Petronas Carigali Sdn Bhd to provide electric wirelines logging services. 

Overnight on Wall Street, US markets closed slightly lower  amid concerns on President Donald Trump's policies and corporate earnings season. European stocks tumbled on political concerns in the US and France.
 
However, at Bursa Malaysia, the FBM KLCI gained 6.23 points to close at 1,691.24. 

“Following the bearish performance in the US and Europe, the FBM KLCI could hover below the resistance of 1,700 and take a breather from its recent surge,” said JF Apex Research.
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