Trading ideas: Tiong Nam, Karex, KPower, IOI Properties, Pos, PetGas

KUALA LUMPUR: Stocks to watch on Tuesday include Tiong Nam Logistics Holdings Bhd, Karex Bhd, KPower Bhd, IOI Properties Group Bhd, Pos Malaysia Bhd and Petronas Gas Bhd, according to JF Apex Research.

The research house said Tiong Nam, Karex, Kpower, Panasonic, Duopharma, CSC Steel achieved better year-on-year quarterly results whist IOI Properties, Pos Malaysia, Hibiscus, Opensys, Wellcall recorded weaker year-on-year net profits.

Sarawak Cable has proposed to undertake a private placement of up to 30% of the total number of issued shares in the company.

Petronas Gas has approved a final investment decision for the construction of a new lateral gas pipeline costing RM541.07mil for power plant in Pulau Indah.

Hong Kong’s Stanley Choi Chiu Fai has emerged as a substantial shareholder in AirAsia following the group’s private placement exercise.

Choi is the chairman of Hong Kong-listed Head and Shoulders Financial Group and International Entertainment Corp.

KAB has secured a contract worth RM23.4mil for design, supply and maintenance work in Agile Embassy Garden, Kuala Lumpur.

Overnight, US markets ended mixed with the Dow posting slight gains while the S&P and Nasdaq declined following losses in technology counters and rising bond yields.

Earlier, European stocks closed lower as 10-year US Treasury yield continues to climb.

“Following the negative sentiment in the US and Europe, the FBM KLCI could remain pressured with immediate support at 1,560 points,” JF Apex said.

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Tiong Nam , Karex , KPower , IOI Properties , Pos , PetGas


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