Trading ideas: Sunway, Hua Yang, DNeX, Yinson, DRealty

KUALA LUMPUR: Sunway, Hua Yang, Dagang Nexchange (DNeX), Yinson and Damansara Realty are among the stocks which could see trading action after their corporate news on Friday, says JF Apex Research.

Sunway is buying 4.53 acres of freehold land in Jalan Belfield for a proposed mixed development comprising of serviced apartments and lifestyle retail units. The combined gross development value is RM1.1bil.

As for Hua Yang, its 1QFY18 net profit plunged 92.8% on-year due to fewer ongoing projects on hand.

JF Apex Research said DNeX was appointed the reseller of Financio, a cloud-based accounting software, in Malaysia and Indonesia.

Meanwhile Yinson is issuing up to US$500mil (about RM2.14bil) worth of perpetual bonds to finance the oil and gas support service provider's business plans.

Damansara Realty’s 70% owned Metro Parking (Singapore) Pte Ltd has secured an S$18.14mil (RM56.54mil) contract to operate and manage car parks at Sport Singapore’s Sport Centre.

JF Apex Research said US markets advanced overnight with the Dow extending its record high, led by retail counters. European stocks also notched solid gains, led by telco and retail counters.
At Bursa Malaysia, the FBM KLCI trailed behind key regional markets, 3.46 points to 1,753.78.

“Following the positive performance in the US and Europe, the KLCI could rebound from its support level of 1,750,” it said.