KUALA LUMPUR: JF Apex Research expects DKSH HOLDINGS (M) BHD, WCT Holdings Bhd, MUHIBBAH ENGINEERING (M) BHD and SUMATEC RESOURCES BHD to generate trading interest on Monday following their latest corporate news.
DKSH is buying chilled and frozen products distributor Auric Pacific (M) Sdn Bhd for RM480mil.
The joint venture between WCT and TSR Capital bagged a RM677mil contract to build a shopping complex at Merdeka 118.
Muhibbah Engineering secured two Engineering, Procurement, Construction, Installation & Commissioning (EPCIC) contracts worth RM205mil.
Sumatec Resources’ largest shareholder Tan Sri Halim Saad has been seen paring down his stake in the Practice Note 17 (PN17) oil and gas company.
Meanwhile, US markets plunged on Friday after the Federal Reserve hiked interest rates and concerns of a government shutdown. European stocks climbed slightly after paring intraday losses.
“Despite the bearish performance in global markets, window dressing this week could lift the FBM KLCI towards the resistance of 1,710 points,” JF Apex said.
The research house said the selldown in the past few months breached the support of 1,660 points.
“Despite last week’s window dressing, the index remains in the downtrend channel. However, further gains could take the index towards the resistance of 1,710 points,” it added.