Trading ideas: AME REIT, DXN, KNM, PMB, Green Packet, Swift Haulage

KUALA LUMPUR: Stocks to watch on Tuesday include AME Real Estate Investment Trust (AME REIT), DXN Holdings Bhd, KNM Group Bhd, PMB Technology Bhd, Green Packet Bhd and Swift Haulage Bhd.

AME REIT has completed the acquisition of the third industrial property of Plot 16 at i-Park @ Indahpura (Plot 16 Indahpura) in Iskandar Malaysia from its sponsor, AME Elite Consortium Bhd for RM26.5mil.

DXN has entered into a memorandum of understanding (MOU) with a unit of European Wellness Biomedical Group to explore collaboration opportunities in establishing wellness centres together.

Following KNM Group Bhd’s extraordinary general meeting (EGM) on Monday, the group’s chairman, Tunku Datuk Yaacob Khyra, has won the majority support of shareholders to continue with his leadership and deliver on his turnaround strategy.

PMB Technology is disposing of a 56,656 sq m leasehold land in Klang for RM36.59mil.

Datuk Seri Dr Shahril Mokhtar has been appointed as the managing director of Green Packet effective immediately.

Swift Haulage is keen to be the first logistics player to transition its fleet to renewable-powered trucks, as it commits to procure only electric prime movers or trucks powered from 2030 onwards Overnight, US stock markets staged a quick rebound as the Dow climbed 0.9% on diplomatic efforts from top leaders across the globe to prevent the geopolitical tension in the Middle East to escalate further.

The Dow Jones Industrial Average rose 314.25, or 0.93% to close at 33,984.54. The S&P 500 climbed 1.06% to end the day at 4,373.63, while the Nasdaq Composite added 1.2% to 13,567.98.

Apex Securities said the FBM KLCI formed a bearish candle as the key index continues to hover marginally above the SMA200 level.

“For now, the local bourse may stage a consolidation to stabilise above the recent short-term breakout above the 1,438 level. Indicators remained upbeat as the MACD Line hovers above the Signal Line, while the RSI treads above 50.

“Immediate resistances are located around 1,458-1,464. Support is pegged around 1,424,” Apex said.

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AME REIT , DXN , KNM , PMB , Green Packet , Swift Haulage


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