Trading ideas: Ranhill Utilities and Aneka Jaringan

KUALA LUMPUR: Ranhill Utilities and Aneka Jaringan could be two stocks to watch for following recent corporate news flow, says JF Apex Research.

Ranhill Utilities has secured two contracts worth a total of RM161.26mil relating to efforts to reduce non-revenue water (NRW) in Pahang and Johor.

Aneka Jaringan has bagged a RM16.1mil contract to undertake foundation works for an apartment project in Bukit Jalil.

Meanwhile, JF Apex said the FBM KLCI could consolidate below the resistance of 1,600 points folowing a 7.15-point retreat yesterday to 1,541.9 on profit-taking activity.

The US was mixed overnight with the Dow extending its record high while the S&P500 and Nasdaw declined as investors awaited the release do the Fed's meeting minutes for indication of rate hikes and tapering.

European stocks were seen rising to record highs despite countries implementing restrictions or lockdowns to contain the Omicron variant.
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