KLCI expected to rise, 1800 in sight: HwangDBS

KUALA LUMPUR: The FBM KLCI, closed at around 1,785 on Friday, is expected to creep up today, with the psychological mark of 1,800 expected to be doable anytime soon, HwangDBS said.

Stocks likely to draw attention today include 1) Kumpulan Europlus, now that MWE has acquired a 22.2% equity stake for the RM156m or RM1.35 per share and emerged as a substantial shareholder with a 27.1 interest, 2) SapuraKencana for winning a contract in Mynmar for rig services worth US$40mil, and 3) Perisai Petroleum which received a notice for the extension on the charter of a barge at a daily rate of US$60,000, it said.

The three stocks that were most actively traded last Friday were CSL at 120,050,000 shares at the price of 30 sen per share or RM36,014,000’s worth of transaction; MICROLN at 7,957,300 at 60 sen for a total  of RM4,774,380 and ITRONIC which saw 6,500,000 shares or RM7,735,000 changing hands at RM1.19 a share.

In terms of value, MINETEC was the most active with 4,225,000 shares changing hands at RM43,940,000 or RM10.40 per share, it said.

Among the IPOs to watch for, all of them on the main board are battery manufacturer ABM Fujiya with a public issue of 23 million shares at the price of 60 sen and an offer sale of 9 million shares (expected date of listing: July 23), Ranhill Energy & Resources with a public issue of 330 million shares at RM1.85 and an offer for sale of 77 million shares (July 31), and Sona Petroleum with 1.1 billion shares at 50 sen (July 30).

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market preview , KLCI , invest , HwangDBS


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