KUALA LUMPUR: Malaysian Bulk Carriers Bhd
(Maybulk), Capitaland Malaysia Trust (CLMT), KNM Group Bhd and Dayang Enterprise Holdings Bhd are among the stocks to watch on Wednesday, according to Apex Securities.
Maybulk is selling its Alam Kekal bulk carrier for RM140.06mil while CLMT is selling the 3 Damansara Office Tower to Lagenda Properties Bhd for RM52mil.
A group of shareholders led by new substantial shareholder German billionaire Andreas Heeschen, has initiated a hostile takeover of KNM,
Dayang’s wholly-owned unit has received a one-year and four-month extension to the company’s topside major maintenance services contract from Sarawak Shell Bhd and Sabah Shell Petroleum Co Ltd.
Overnight, the U.S. market declined following concerns over inflation as oil price rose after Saudi Arabia and Russia extended their supply cuts.
Similarly, European markets also declined after higher consumer inflation expectations and lower PMI.
The Dow Jones Industrial Average lost 195.74 points, or 0.56%, to finish at 34,641.97. The S&P 500 dropped 0.42% to close at 4,496.83. The Nasdaq Composite edged down 0.08% to settle at 14,020.95.
“Following last week’s rebound, the FBM KLCI could take a breather and hover below the resistance of 1,465 points which has been capping the index since July,” Apex said.
