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.
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