Trading ideas: BAT, TMC Life Sciences, MyEG, IHH Healthcare, UEM Sunrise, EG Industries, Crescendo and Ecomate

KUALA LUMPUR: Stocks in focus on Thursday include BAT, TMC Life Sciences, MyEG, IHH Healthcare, UEM Sunrise, EG Industries, Crescendo and Ecomate, said Apex Research.

BAT Malaysia posted its second straight quarterly net profit decline in the 4Q22.

TMC Life Sciences Bhd’s net profit for the second quarter ended Dec 31, 2022 declined 20.49%.

EPF has increased its direct stake in MyEG Services Bhd to 6.897%.

IHH Healthcare Bhd, which has a private healthcare facility in Türkiye, said its operations are unaffected in the country.

UEM Sunrise Bhd’s plan to buy a piece of freehold land situated near the Kuala Lumpur Convention Centre (KLCC) has fallen through after conditions precedent under the sale and purchase agreement (SPA) were not fulfilled within the conditional period, which expired on Tuesday.

EG Industries Bhd has proposed a private placement to raise RM22.41mil to fund its business expansion.

Crescendo Corp Bhd is buying three plots of land measuring 109.855 acres in Kota Tinggi, Johor and Ecomate Holdings Bhd eyes a move to the Main Market.

Meanwhile, Apex said the local market may see a pick-up in bargain-hunting activities and trade below the resistance of 1,500 points after two straight days of losses.

The US market ended in the red as investors returned their focus to the latest batch of weak corporate earnings and investors continued to weigh the outlook for future Federal Reserve policy moves.

Earlier, European markets closed higher with the FTSE hitting a record high in intraday trading asinvestors digested the latest comments from the Fed chairman.

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