KUALA LUMPUR: Stocks to watch on Wednesday include WCE Holdings Bhd
, Privasia Technology Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd (MHB), Pintaras Jaya Bhd, Southern Cable Group Bhd and Ivory Properties Bhd, according to Apex Securities.
WCE has secured up to RM400mil from the government to part-finance the land acquisition cost for the RM5.044bil West Coast Expressway project.
Privasia has secured two contracts worth approximately RM1.2bil in total from the Ministry of Communications and Multimedia, relating to the installation and maintenance of fibre optics.
MHB has secured an engineering, procurement and construction services contract worth almost RM500,000 from Sarawak Shell Bhd.
Pintaras Jaya has secured six new piling contracts worth a combined RM192mil in Singapore.
Southern Cable is targeting RM100mil sales of cables and wires to the US in 2023.
Heng Huat Resources Group Bhd’s managing director Datuk H’ng Choon Seng has ceased to be a substantial shareholder of Ivory Properties after disposing of 80 million shares or 16.32% stake via off-market transaction yesterday.
Overnight, the US market ended mixed overnight with the Dow posting a slight gain while the S&P and Nasdaq declined ahead of today's release of September's producer price index and minutes from the Federal Reserve's meeting.
The Dow Jones Industrial Average rose 36.31 points, or 0.12%, to close at 29,239.19. The S&P 500 slipped 0.65% to close at 3,588.84 while the Nasdaq Composite fell 1.10% to 10,426.19, its lowest close since July 2020.
Earlier, European stocks extended their losses amid concerns over slower economic growth and Bank of England's intervention in the bond market.
“Following the recent volatility, the FBM KLCI could trend lower towards the support of 1,370 points,” Apex said.
