Trading ideas: Scicom MSC, Eversendai, mTouche

KUALA LUMPUR: Stocks to watch on Wednesday include Scicom MSC Bhd, Eversendai Corp Bhd and Mtouche Technology Bhd, according to JF Apex Research.

Scicom MSC, the group’s second quarter net profit surged 41% year-on-year to RM7.69mil on stronger performance from its operating divisions.

Eversendai, the group has secured a RM120mil contract from PKT Logistics Group, to build the latter's warehouses in Batu Kawan, Penang.

mTouche, the group has sealed an exclusive licensing and revenue sharing agreement for its proprietary application “One Krypto”, with Jakarta-listed PT Inovisi Infracom Tbk.

Overnight, US market declined after the government expected 100,000 to 240,000 deaths from the coronavirus.

The Dow Jones Industrial Average closed 410.32 points lower, or 1.8%, at 21,917.16. The S&P 500 dropped 1.6% to 2,584.59. The Nasdaq Composite fell nearly 1% to 7,700.10.

Earlier, European stocks climbed after China's manufacturing PMI for March was better than expected.

“Following the mixed performances in the US and Europe, the FBM KLCI could take a breather from its rebound and hover below the resistance of 1,370 points,” JF Apex said.