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Trading ideas: Daya Materials, AirAsia, Green Ocean, TNB


KUALA LUMPUR: Daya Materials Bhd . AirAsia Bhd , Green Ocean Corp Bhd and Tenaga Nasional Bhd (TNB) are among the stocks to watch on Friday, according to JF Apex Research.


The research house said Daya Materials, which fall into PN17, has bagged a RM104mil construction contract from Penang Specialist Hospital.


AirAsia is divesting its aircraft leasing business, currently managed by its wholly-owned subsidiary Asia Aviation Capital Ltd (AACL), to entities managed by BBAM Ltd Partnership for US$1.185bil (RM4.62bil).


Green Ocean has secured a RM70mil contract to supply crude palm kernel oil-mass balance.


TNB acquired 80% stake in two UK-based renewable energy companies for RM418mil while Uzma and Handal Resources both received umbrella contracts from Petronas Carigali to provide drilling of hydraulic work units.


Meanwhile, US markets plunged overnight after President Donald Trump said the U.S. will implement tariffs on steel and aluminium imports next week while Federal Reserve Chair Jerome Powell testified before the Senate.


The Dow Jones industrial average closed 420.22 points lower at 24,608.98 after rising more than 150 points earlier in the day while the S&P 500 declined 1.4% to end at 2,677.67.


Similarly, European stocks tumbled following losses in media, chemical, basic resources and technology counters.


“Following the bearish performance in the US and Europe, the FBM KLCI could decline towards its support of 1,840 points,” JF Apex said.


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