Trading ideas: Kim Loong, MKH, Coraza, Bintai Kinden

KUALA LUMPUR: Stocks to watch on Thursday include Kim Loong Resources Bhd, MKH Bhd, Coraza Integrated Technology Bhd and Bintai Kinden Corp Bhd, according to Apex Securities.

Kim Loong’s 4QFY23 net profit rose 19.24% to RM36.92mil.

MKH plans to list its oil palm plantation arm on the Main Market of Bursa Malaysia by year-end.

Coraza has planned a private placement of up to 20% of its share base to raise an estimated RM69.54mil, mainly to fund the purchase of new machinery.

Bintai Kinden has been classified as a Practice Note 17 (PN17) issuer after its subsidiary defaulted on RM109mil worth of financing facilities.

Overnight, the US market rallied overnight following gains in technology stocks and improved sentiment in the banking sector.

The Dow Jones Industrial Average surged 323.35 points, or 1%, to close at 32,717.60. The S&P 500 gained 1.4% to end at 4,027.81, and the Nasdaq Composite added nearly 1.8% to close at 11,926.24.

Similarly, European stocks ended higher due to investor confidence in health of the financial industry.

“Following the bullish performance in Wall Street, the FBM KLCI could continue extend its gains towards the resistance of 1,431 points,” Apex said.

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Kim Loong Resources , MKH , Coraza , Bintai Kinden


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