Trading ideas: PETRONAS Chemicals, Axiata, Sunway, DNeX, Affin Bank, Sarawak Oil Palm, IOI, Uchi Technologies, Bintulu Port, IJM, Bintai Kinden, Chin Hin and TNB


KUALA LUMPUR: Stocks to watch for on Tuesday include PETRONAS Chemicals, Axiata, Sunway, DNeX, Affin Bank, Sarawak Oil Palm, IOI, Uchi Technologies, Bintulu Port, IJM, Bintai Kinden, Chin Hin and TNB, said Apex Research.

The research firm said PETRONAS Chemicals's 3Q22 net profit slipped by 3.5% YoY to RM1.895 billion.

Axiata Group Bhd registered a net loss of RM52.4 million in 3Q22.

Sunway Bhd’s net profit for 3Q22 more than doubled YoY to RM164.72 million.

Dagang Nexchange Bhd (DNeX) posted a net profit of RM41.72 million for 1QFY2023.

Affin Bank Bhd's net profit for 3Q22 jumped more than six-fold to RM872.36 million due to asset disposal.

IOI Corp Bhd’s 3Q22 net profit dropped nearly 40% YoY to RM167.5 million.

Sarawak Oil Palms Bhd's net profit for 3Q22 fell 34.4% YoY to RM82.34 million.

Uchi Technologies Bhd reported a 30.5% YoY jump in net profit in 3Q22 to RM32.5 million.

Bintulu Port Holdings Bhd chalked a 31.7% YoY increase in net profit for 3Q22 to RM28.66 million.

IJM Corp Bhd turned profitable in 2QFY2023 with a net profit of RM27.03 million.

Chin Hin Group's net profit for 3Q22 jumped 6.44 times YoY to RM16.41 million.

Bintai Kinden Corp Bhd has secured a project worth RM39 million from Tenaga Nasional Bhd (TNB) for the installation of a 132 kilovolt (kV) underground cable double circuit.

Meanwhile, Apex said the FBM KLCI could remain flat and hover below the resistance of 1,500 points as investors wait for the Prime Minister to announce his Cabinet.

Elsewhere, the US market plunged overnight following growing Covid-19 protests in China.

Similarly, European stocks were negative amid civil unrest in China due to protests against strict Covid measures and lockdowns.

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