KUALA LUMPUR: Stocks that may come under the spotlight on Friday include AMMB, Bintai Kinden
, Yinson, Unisem, Nestle, Pavilion REIT, Vitrox, Frontken, Maxis, Westports, Bursa Malaysia, Lotte Chemical Tital, MI Technovation Samchem and KIP REIT, says JF Apex Research.
AMMB Holdings Bhd which has completed the sale of its wholly-owned subsidiary AmGeneral Insurance Bhd (AGIB) to Liberty Insurance Bhd (LIB) for RM2.29bil.
Bintai Kinden Corp Bhd's joint-venture company has secured a series of additional subcontracts to supply high-grade carbon steel/stainless steel piping, valves and piping accessories, with a value of RM4.43mil.
Yinson Holdings Bhd has signed an exclusivity agreement with bp Exploration (Angola) Ltd to reserve a floating production storage and offloading vessel for the latter’s proposed 10-well subsea Palas, Astrea and Juno Oil Fields (PAJ Project) in Angola.
Companies with improved quarterly results such as Unisem, Nestlé, Pavilion REIT, Vitrox Corp Bhd and Frontken Corporation Bhd, as well as companies with declined quarterly profit such as Maxis, Westports, Bursa Malaysia, Lotte Chemical Titan, MI Technovation Bhd, Samchem Holdings Bhd and KIP REIT.
Meanwhile, the JF Apex said the FBM KLCI could extend its gains towards the resistance of 1,510 points following the bullish momentum.
The US market rallied overnight despite fears of a recession after a negative GDP reading in a second straight quarter as strong corporate earnings by tech counters led gains.
Earlier, European stocks rose amid quarterly results and the Federal Reserve's 75-basis points hike came within expectations.
