KUALA LUMPUR: JF Apex Research expects T7 Global Bhd , Reach Energy Bhd and IHH Healthcare Bhd to be among the stocks to watch following their latest news.
T7 Global, which is mainly involved in engineering and oil & gas, is venturing into retail clothing.
Reach Energy drilled its first exploration well on its Emir-Oil asset in the Kariman field, Kazakhstan on Oct 6.
The well is expected to confirm the larger extent of the hydrocarbon resource being exploited in the Kariman structure.
IHH Healthcare has tightened control on Acibadem Saglik Yatirimlari Holding AS after the latter’s shareholders converted their shares into equities in the Malaysia-based healthcare group.
IHH’s stake in Acibadem has been bumped up to 90% from 60% after the share conversion.
Meanwhile, US markets ended mixed with the Dow posting slight gains to end a 3-day losing streak.
Earlier, European stocks plunged amid concerns over Italy's budget plan and China's central bank lowered the cash reserve level for banks.
“Following the lacklustre performance in the US and Europe, the FBM KLCI is expected to remain pressured with support at 1,770 points,” JF Apex said.
The research house said the technical indicators for FBM KLCI were mixed with the RSI hovering above the oversold zone while the MACD is trending lower below its signal line.
“Recently, the index tested the 200-day moving average but failed to challenge the threshold.
“Last week’s losses violated the 50-day moving average and further decline could be seen if the 100-day moving average and support level of 1,770 points fails to hold,” it said.