KUALA LUMPUR: Stocks to watch for on Monday include IHH Healthcre, PETRONAS Gas, TNB, Affin Bank, LPI Capital and Sarawa Oil Palms, said Apex Research.
IHH Healthcare Bhd increased its stake in Ravindranath GE Medical Associates Private Ltd (RGE) to 98.17% from 73.64%, after buying shares for RM415 million cash.
Petronas Gas Bhd's (PetGas)’s 2Q23 net profit rose 22% to RM485.37 million.
Tenaga Nasional Bhd’s (TNB)’s 2Q23 net profit plunged 62.41% to RM327.9 million.
Affin Bank Bhd’s 2Q23 net profit tumbled 23% to RM113.23 million.
LPI Capital Group Bhd’s 2Q23 net profit rose 19.42% to RM63.94 million.
Sarawak Oil Palms Bhd's 2Q23 net profit fell 68.8% to RM48.12 million.
The U.S. market rallied on Friday overnight the Federal Reserve Chairman’s speech at the Jackson Hole stated a higher-than-expected GDP growth.
Similarly, European markets rose after the Fed chairman’s speech.
On the local market, the FBM KLCI was flat after adding 0.26 points or 0.02% to 1444.41 points.
"Following the recent lacklustre performance, the FBM KLCI could remain sideways above its support of 1,437 points," said Apex.