Trading ideas: Ni Hsin, Xingquan, China Stationery, MyEG


  • Analyst Reports
  • Tuesday, 06 Aug 2019

KUALA LUMPUR: JF Apex Research expects NI HSIN RESOURCES BHD, Xingquan International Sports Holdings Ltd, China Stationery Ltd and MY E.G. SERVICES BHD to be among the stocks to watch on Tuesday.

Ni Hsin has inked an exclusive distributorship agreement with Japanese kitchen cookware manufacturer Wonder chef Co Ltd to market the latter's products in the Asean market.

Xingquan and China Stationery are going to be delisted in less than two weeks.

The two China-based companies is facing regulatory action after continuously failing to issue their annual reports and audited financial statements, months after the stipulated timeframe specified under the listing requirements.

MyEG has denied that neither Umno nor its proxies have a substantial stake in the company, saying such claims are “erroneous, speculative and baseless".

My EG also refuted a report that Datuk Dr Norraesah Mohamad had disposed of 1.028 billion MyEG shares valued at RM1.697bil on July 25.

Meanwhile, US markets plunged overnight as the US-China trade war escalated after China retaliated by allowing it's currency to drop.

Similarly, European stocks tumbled as the Chinese yuan fell to its lowest in a decade.

“Following the bearish sentiment, the FBM KLCI is expected to extend its losses towards the support of 1,590 points with broad-based sell-off,” JF Apex said.

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Ni Hsin , MyEG , China Stationery

   

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