Trading ideas: Axiata, GFM, PJBumi and CCM Duopharma


KUALA LUMPUR: Stocks that may attract investor interest on Friday include Axiata, GFM, PJBumi and CCM Duopharma, according to JF Apex research.

In its daily highlights report, the research house noted that a Nepalese court order has odered Axiata's Nepalese subsidiary to pay RM2.16bil of capital gains tax.

GFM won contracts worth RM69mil from Bank Negara to provide comprehensive facility management services.

PJBumi bagged a RM18.7mil contract to refurbish 84 units of residential and commercial buildings in Pahang.

CCM Duopharma received approval from the National Pharmaceutical Regulatory Authority (NPRA) to launch its biosimilar erythropoietin (EPO).

On the local market, the FBM KLCI could be facing some downwards pressure following negative global developments overnight. 

The local benchmark index rose 9.78 points to 1,639.39 in Thursday trading but could be seen trending lower in Friday's session.

The US-China trade talks experienced a setback overnight as it was reported that the presidents of the US and China would not be meeting before the deadline in March.

Us markets reacted negatively to the news with the Dow Jones Industrial Average tumbling more than 200 points.

Oil prices also came under pressure with US crude falling 2.5% to US$52.64 a barrel as a protracted trade war would dampen demand.

Over in Europe, equities fell as the European Union and Bank of England slashed growth forecasts with the US-China trade war weighing on sentiment.

The English central bank also offered its weakest outlook for the UK since 2009 as its Brexit woes continue.
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