KUALA LUMPUR: Stocks to watch on Thursday include Boustead Plantations Bhd
, Kuala Lumpur Kepong Bhd (KLK), KIP REIT, Hexza Corporation Bhd and YLI Holdings Bhd, according to Apex Securities.
The acquisition of a 33% stake in the Boustead Plantations by KLK has fallen through.
Unitholders of KIP REIT voted in favour of acquiring KIPMall Kota Warisan in Sepang for RM80mil.
Hexza has disposed of 18,000 shares in NVIDIA Corp for RM37.07mil cash.
YLI’s subsidiary has received RM97.84mil in compensation for its land in Hulu Serendah, Selangor.
Overnight, the U.S. stock market rose to snap a 3-day losing streak as bond yields came off its highest since 2007 and private payrolls fell below expectation. Earlier, European stocks declined slightly following negative sentiment on global economy.
The The Dow Jones Industrial Average gained 127.17 points, or 0.39%, to close at 33,129.55. The S&P 500 added 0.81% and closed at 4,263.75 while he Nasdaq Composite gained 1.35% at 13,236.01.
Apex said the FBM KLCI recently dropped further and broke below the 100 day moving average to rest above the support of 1,416 points.
“Going forward, the KLCI could take a breather above the support of 1,391, if the index breached below the support level,” it said.
