Trading ideas: LB Aluminium, Alam Maritim, AirAsia, AAX, MAHB

KUALA LUMPUR: LB Aluminium Bhd, Alam Maritim Resources Bhd, AirAsia Group Bhd, AirAsia X Bhd (AAX) and Malaysia Airports Holdings Bhd (MAHB) are among the stocks to watch on Wednesday, according to JF Apex Research.

LB Aluminium posted a 69.42% jump in net profit to RM2.83mil for the second quarter ended Oct 31, 2018 from RM1.67mil a year earlier, thanks to higher sales volume and average selling price during the quarter.

Alam Maritim announced that its subsidiary has been awarded a conditional five-year contract by ExxonMobil Exploration and Production Malaysia Inc to provide pan-Malaysia underwater services for petroleum arrangement contractors.

AirAsia and its subsidiary AirAsia X have been sued by MAHB for a total of RM36.11mil for outstanding airport taxes.

Meanwhile, US markets ended slightly lower after erasing intraday gains despite progress in the US-China trade deal.

The 30-stock Dow fell 53.02 points to 24,370.24 while the S&P 500 also slipped 0.94 points to close at 2,636.78.

Earlier, European stocks advanced as leaders of the US and China said trade negotiations are still ongoing.

JF Apex said the FBM KLCI could consolidate and trend sideways today following the mixed performance in the US and Europe.

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