Trading ideas: Zhulian, Digi, Axiata, WCT, Ivory Properties

KUALA LUMPUR:  Zhulian, Digi, Axiata, WCT and Ivory Properties are among the stocks which could see trading interest on Thursday after their corporate news.

JF Apex Research said Zhulian’s 2QFY17 net profit jumped 53.5% on-year, thanks to improved margins and lower expenses.

As for DiGi, its 2QFY17 net profit fell 14.7% on-year, due mainly to progressively higher depreciation and additional finance costs.

It also pointed out Axiata said it had not received Nepal's central bank's directive that bars Axiata from repatriating its dividends. This was response to news reports, which quoted Nepal Rastra Bank officials as saying the central bank had barred the group from repatriating its dividends until the issue of capital gains tax (CGT) related to its unit Ncell Pvt Ltd deal was settled.

Meanwhile, WCT says it has good grounds to defend and oppose RM214mil claims brought by three companies for a project done in Qatar.

Pennang-based Ivory Properties had entered into a strategic alliance to jointly re-develop several plots of land in Kuala Lumpur for a housing development project.

Kelington had won RM4.59mil in adjudication proceedings.

JF Apex Research said overnight on Wall Street, US markets rallied overnight with the Dow jumping to a record high after Federal Reserve Chair Janet Yellen's dovish remarks that the Fed will start reducing its US$4.5 trillion balance sheet and any interest rate hike will be gradual. 

Earlier, European stocks soared on Yellen's statement and higher oil price.

At Bursa, the FBM KLCI gained 2.21 points to 1,757.24. 

JF Apex Research said following the bullish performance in the US and Europe, the KLCI could extend its rebound off the support level of 1,755.