KUALA LUMPUR: Reservoir Link Energy Bhd, Yong Tai Bhd, Supermax Corp Bhd, Tenaga Nasional Bhd, Malayan Banking Bhd and PPB Group Bhd are among the stocks to watch on Friday, according to JF Apex Research.
In a report, JF Apex said Reservoir Link Energy has secured a contract from Roc Oil (Sarawak) Sdn Bhd for the provision of perforation services for drilling and production phase in 2021 and 2022.
Yong Tai said its healthcare unit is set to undertake the Covid-19 vaccine phase three clinical trial in Malaysia after the National Pharmaceutical Regulatory Agency (NPRA) granted its approval for the clinical trial import licence.
Supermax saw its quarterly net profit drop to RM958.71mil, down 4.6% quarter-on-quarter from RM1.01bil the immediate preceding quarter, due to lower average selling prices as more glove supply becomes available in the market.
TNB, Maybank, Sime Darby Property, Kerjaya Prospek, UOA Development, AME, Tambun Indah, Hibiscus, 7-Eleven, IOI Properties, Magnum, Sarawak Oil Palms, Affin Bank recorded higher year-on-year quarterly earnings whilst PPB, Chin Hin, Oriental Food posted weaker year-on-year quarterly results.
Meanwhile, the US market declined overnight to break a 5-day winning streak following uncertainty in Afghanistan.
Similarly, European stocks ended lower after Germany's consumer sentiment deteriorated.
“Following this week's rally, the FBM KLCI could take a breather and consolidate below 1,600 points,” JF Apex said.