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Trading ideas: PA Resources, Boustead Plantations, Econpile, Gadang


KUALA LUMPUR: JF Apex Research expects P.A Resources Bhd, Boustead Plantations , Econpile Holdings Bhd and Gadang Holdings Bhd to be among the stocks to watch on Thursday.


The research house also expects KLCC Stapled Group, UOA Reit, Zhulian and Hua Yang Bhd to see trading interest following their corporate news.


P.A. Resources has secured a RM600mil contract to supply materials to First Solar Inc, First Solar Vietnam Mfg Co Ltd and First Solar Malaysia Sdn Bhd for the latter's use in the production of solar photovoltaic modules.


Boustead Plantations is selling three freehold plantations lands for RM136mil to repay debt.


Econpile has bagged a RM119mil contract for substructure and basement works.


Gadang and KLCCP posted flat quarterly profits, UOA REIT and Zhulian saw quarterly net profit declined while Hua Yang registered losses in its quarterly results.


Meanwhile, US markets ended mixed overnight with the Dow hitting record highs amid strong quarterly results while the S&P and Nasdaq closed slightly lower as tech counters tumbled.


Earlier, European stocks declined following mixed corporate earnings.


“Following the recent flattish trend, the FBM KLCI is expected to remain sideways below the resistance of 1,840 points,” JF Apex said.


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