Trading ideas: Teo Seng Capital, LPI, Ancom Nylex, Sapura Energy, EPMB

KUALA LUMPUR: Teo Seng Capital Bhd, LPI Capital Bhd, Ancom Nylex Bhd, Sapura Energy Bhd and EP Manufacturing Bhd are among the stocks to watch on Tuesday, according to Apex Securities.

Among stocks to watch are Teo Seng Capital Bhd after Singapore recalled eggs from its chicken layer farm in Malaysia due to the presence of Salmonella enteritidis (SE).

LPI Capital Bhd’s net profit for 3QFY22 fell 29.07% YoY to RM74.75mil.

Ancom Nylex Bhd’s net profit for 1QFY23 more than doubled YoY to RM20.03mil.

Sapura Energy Bhd’s shareholders approved the disposal of three drilling rigs to UK-based NKD Maritime Ltd for RM35.14mil.

EP Manufacturing Bhd is set to make its debut in four-wheel electric vehicle manufacturing via a collaboration with US-based EV player Saean Group Inc.

Key Asic Bhd has secured chip design contracts with a cumulative value of over RM28mil.

Meanwhile, the US market rallied overnight after strong bank earnings boosted investor sentiment.

The Dow Jones Industrial Average gained 1.86%, to close at 30,185.82. The S&P 500 jumped 2.65% to 3,677.95 while the Nasdaq Composite surged 3.43% to 10,675.80.

Similarly, European stocks surged as the UK made a huge U-turn on tax cuts and fiscal policies.

“Following the bullish sentiment, the FBM KLCI could rise towards the 1400-point level,” Apex said.

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