Trading ideas: Allianz, Pharmaniaga, MMHE, Sime Darby Plantation, Sarawak Plantation, IOI, ELK-Desa Resources, Zelan, YB Ventures, Gets Global and China Automobile Parts


KUALA LUMPUR: Stocks with recent corporate announcements that could see increased trading interest on Monday include Allianz Malaysia, Pharmaniaga, Malaysia Marine and Heavy Engineering, Sime Darby Plantation, Sarawak Plantation, IOI, ELK-Desa Resources, Zelan, YB Ventures, Gets Global and China Automobile Parts, said JF Apex Research.

Companies that posted higher quarterly profit include Allianz Malaysia Bhd, Pharmaniaga Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd, Sime Darby Plantation Bhd, and Sarawak Plantation Bhd.

IOI Corp Bhd registered a flat growth and Elk-Desa Resources Bhd saw its quarterly profit decline 60.9% YoY.

Meanwhile, there were changes in the auditors of Zelan Bhd, YB Ventures Bhd, GETS Global Bhd and China Automobile Parts Holdings Ltd.

JF Apex said the FBM KLCI could remain sideways above the support of 1,540 points following the recent uncertainties on Wall Street.

The US market was flat on Friday to take a breather from the recent selldown sparked by concerns over inflation and interest rate hikes.

Earlier, European stocks posted gains amid higher UK retail sales and German producer prices.

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