Trading ideas: Theta Edge, Top Glove, Insas, Mieco, SYF, Yinson

KUALA LUMPUR: JF Apex Research expects Theta Edge Bhd, Top Glove Corp Bhd, Insas Bhd, Mieco Chipboard Bhd, SYF Resources Bhd and Yinson Holdings Bhd to be among the stocks to watch on Thursday.

Theta Edge, whose shares hit limit up on Wednesday, has been slapped with an unusual market activity (UMA) query by Bursa Malaysia.

Top Glove confirmed that the Department of Safety and Occupational Health (DOSH) is probing the death of a foreign worker on its factory floor earlier this week.

Insas is listing its stockbroking arm M & A Securities Sdn Bhd (M&A) via a reverse takeover of furniture maker SYF Resources Bhd.

Mieco is seeking to undertake a fundraising exercise via a private placement of which the proceeds will be to finance the proposed acquisition of Seng Yip Furniture Sdn Bhd (SYFSB), a unit of SYF Resources Bhd, to be paid by RM50mil cash.

Yinson has invested in Canada-based energy storage solutions company Sterling PBES Energy Solutions Ltd (SPBES).

Kimlun Corp Bhd is setting up an Islamic commercial papers (ICP) programme and an Islamic medium-term notes (IMTN) programme with a combined limit of up to RM800mil.

AirAsia has signed an amendment agreement with aircraft maker Airbus SAS to convert the budget airline’s remaining A320 aircraft orders to the A321neo.

Overnight, the US market rose overnight to rebound from intraday losses after investors' concern over the US debt ceiling eased.

In contrast, European stocks plunged amid fears over inflation as the US 10-year Treasury yield remains high.

“Following yesterday's gains, the FBM KLCI could take a breather and trend sideways below the resistance of 1,600 points,” JF Apex said.

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Theta Edge , Top Glove , Insas , Mieco , SYF , Yinson


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