Trading ideas: Pestech International


  • Analyst Reports
  • Wednesday, 11 Jul 2018

KUALA LUMPUR: Pestech International Bhd is the stock to watch today following its latest corporate news, according to JF Apex Research.


Pestech has obtained approval from the Securities and Exchange Commission of Cambodia to list its wholly-owned subsidiary Pestech (Cambodia) PLC on the main board of Cambodia Securities Exchange.


Pestech said it had received notification yesterday that the SECC has granted the approval-in-principle to Pestech Cambodia for its proposed listing accordance with the laws and regulations in force in Cambodia.


Meanwhile, US markets rose overnight following investor optimism as the corporate earnings season kicked off.


The Dow Jones Industrial Average rose 143.07 points to 24,919.66 while the S&P 500 gained 0.4% to 2,793.84 — its highest since Feb 1.


Similarly, European stocks advanced as focus moved away from trade war towards quarterly results.


“Following the bullish performance in the US and Europe, the FBM KLCI is expected to extend its rebound and climb towards the resistance of 1,700 points,” JF Apex said.


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