Trading ideas: Ni Hsin, Caely, Comfort Gloves, Suria Capital, MMC


KUALA LUMPUR: Ni Hsin Resources Bhd, Caely Holdings Bhd, Comfort Gloves Bhd, Suria Capital Holdings Bhd and MMC Corp Bhd are among the stocks to watch on Monday, according to JF Apex Research.


Ni Hsin has emerged as a substantial shareholder in Caely Holdings, after acquiring 5.81 million shares in Caely for RM4.62mil, a 7.26% stake, over the past 12 months.


Comfort Gloves said the move by the US Food and Drug Administration (FDA) to put its wholly-owned subsidiary Comfort Rubber Gloves Industries Sdn Bhd (CRGISB) under the regulator's import alert list has not disrupted its glove-making operations, as the listing does not prevent the group from exporting to the US.


However, it has resulted in CRGISB examination glove shipments to the US requiring inspections upon arrival in the country and released after passing an inspection.


Suria Capital has dropped its plan to sell a stake in wholly-owned subsidiary Sabah Ports Sdn Bhd (SPSB) to MMC.


G Neptune's external auditor has highlighted a material uncertainty in the group's financial statements that may cast significant doubt on its ability to continue as a going concern.


Meanwhile, US markets plunged over 2% after fears of a trade war escalated after President Trump threatened to put more levies on China.


The Dow Jones industrial average fell 572.46 points to 23,932.76 while the S&P 500 declined 2.2% to 2,604.47.


Similarly, European stocks ended lower after the US proposed US$100bil of additional tariffs on China.


“Following the bearish performance in the US and Europe, the FBM KLCI is expected to be negative today and trend lower towards the support of 1,800 points,” JF Apex said.


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