Trading ideas: Genting Malaysia, Ivory Properties, Hengyuan, Petron, Mudajaya

KUALA LUMPUR: Stocks that may be seeing trading interest on Monday include Genting Malaysia Bhd, Ivory Properties Group Bhd, Hengyuan Refining Company Bhd, Petron Malaysia Refining & Marketing Bhd and Mudajaya Group Bhd, according to JF Apex Research.

Genting Malaysia's unit Genting UK PLC has entered into an agreement to buy LeoVegas Mobile Gaming Group's subsidiary Authentic Gaming for €15mil (RM70mil) to grow Genting's online gaming presence.

Ivory Properties is disposing of its 45% interest in a Penang-based property development company for RM56.09mil.

Hengyuan and Petron Malaysia said crude oil intake at their respective refineries at Port Dickson has normalised after repair work was completed at their crude oil offloading facilities there.

Mudajaya said Yakin Setiamas Sdn Bhd has emerged as a substantial shareholder in the builder after acquiring 162.33 million shares or a 27.52% stake.

On Friday, US markets rallied with the S&P hitting a record high after better-than-expected employment data.

European stocks also climbed following improvement in China's manufacturing data.

“Following the bullish performances in the US and Europe, the FBM KLCI could extend its ascend towards the resistance of 1,630 points, ” JF Apex said.

The research house said the benchmark index was on a downtrend since July after failing to beat the 200-day moving average.

“The decline since July broke the 50- and 100-day moving averages before trending sideways in August and September.

“After last week’s gains, the FBM KLCI could take a breather and hover below the resistance of 1,610 points, ” it said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Genting Malaysia , Mudajaya , Hengyuan , Petron


Next In Business News

Moody’s: Sustainable bonds issuance to top US$850bil
Public Mutual declares gross distributions of RM235m for 13 funds
Central banks go big on gold buying
Earnings bounce, bond-yield drop help keep party going for US stocks
Bitcoin rallies past key $40,000
PBOC: China will maintain prudent, flexible monetary policy
Bank Rakyat launches entrepreneur programme
CPO futures seen trading with upward bias next week
As scrutiny mounts, crypto exchange Binance to wind down derivatives in Europe
Oil price climbs, notches fourth monthly gain on growing demand

Stories You'll Enjoy