Trading ideas: Astro, Vivocom, Mercury, tech stocks

KUALA LUMPUR: JF Apex Research expects Astro, Vivocom, Mercury Industries and tech stocks to be among the companies to see tradin action on Tuesday after their corporate news.

It said Astro's unit Measat Broadcast Network Systems Sdn Bhd has received the Securities Commission's nod to set up a RM3bil medium term notes programme.

As for Vivocom, it has terminated a RM240.42mil contract which it received from Coneff Corp Sdn Bhd due to non-fulfilment of certain contractual obligations.

Mercury Industries is paying RM7mil cash to acquire construction materials firm Andaman Marketing Sdn Bhd to expand its revenue stream and complement its existing construction business.

Also in focus wou;d be technology stocks as affected by the slump in the Nasdaq.

US markets declined overnight following selldown in technology counters. 

Similarly, European stocks tumbled after the recent UK election and uncertainty ahead of this week's Federal Reserve meeting.
On the local market, the FBM KLCI gained 3.32 points to 1,788.89. 

“Following the bearish performance in the US and Europe, the FBM KLCI is likely to trend downwards, hovering below the resistance of 1,800,” 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

CPO futures rally to breach RM4,200, highest level in two months
KPMG's banking audits not up to scratch, says UK watchdog
BAT Malaysia Q2 net profit climbs on higher sales volume
Challenges in maintaining economic recovery
China stocks fall as foreigners turn net sellers under Connect
Citi best bank for corporate responsibility in Asia
Thai June exports at 11 year high as global demand rebounds
Ant-backed Zomato's roaring India debut sets pace for internet-based startups
Central Global appeals for reopening of Kedah factory
Hextar Global in joint offer to acquire specialty chemicals firm

Stories You'll Enjoy