Trading ideas: Sedania, Axiata, Hibiscus, Maxis


KUALA LUMPUR: Sedania Innovator Bhd, Axiata Group Bhd, Hibiscus Petroleum Bhd and Maxis Bhd are among the stocks to watch on Friday, according to JF Apex Research.

Sedania Innovator is venturing into the electronic sports or esports space via a special purpose vehicle that it will take a 42.55% stake in, to launch a global esports tournament and media network.

Axiata has asked its edotco towers unit to seek deals to enter new markets or expand in Southeast Asia and South Asia, and may consider selling a stake if attractive large investment opportunities arise.

Hibiscus Petroleum is participating in an oil exploration project previously awarded to its 11.7%-owned Australian associate 3D Oil Ltd in the offshore Gippsland Basin, Australia.

Maxis is ready to roll out its 5G services next year as soon as the spectrum is set for release in the second half of next year.

Meanwhile, US markets rose overnight with technology counters leading the rebound following hopes that the Federal Reserve will reduce interest rates later this month.

Earlier, European stocks declined following concerns of a global economic downturn.

“Following the mixed performances in the US and Europe, the FBM KLCI could remain sideways above the support of 1,550 points, ” JF Apex said.

The research house said technical indicators for FBM KLCI were negative with the RSI falling towards the oversold zone while the MACD crossed below its signal line.

“The benchmark index was on an uptrend since May after rebounding from a low of 1,570 points and tested the 200-day moving average below 1700 points before declining in July.

“The downtrend in July broke the 50- and 100-day moving averages before trending sideways in August and September. After the recent decline, the FBM KLCI could test its support of 1,550 points, ” JF Apex said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Sedania , Axiata , Maxis

   

Next In Business News

Malaysia maintains CPO export tax at 8% for July
FDI slips to lowest since 2009 due to pandemic
Vehicle sales in May doubled on-year but minimal sales seen in June
Malaysia's Carsome weighs US listing with SPAC as option
Pound tumbles as virus resurgence clouds hope for UK recovery
China advises US on inflation: Remove punitive tariffs
Crude oil extends slump as traders weigh dollar against demand
National Budget Office: Safer to open economy in stages
MIDF Amanah AM launches ESG Mustadamah fund
FGV to appoint independent auditor for forced labour assessment in August

Stories You'll Enjoy


Vouchers