Trading ideas: Kian Joo, plantations, Gamuda, Puncak


KUALA LUMPUR: JF Apex Research expects Kian Joo Can Factory KJCF), plantations, Gamuda and Puncak Niaga to see trading interest on Tuesday.

It said KJCF received a non-binding offer from Toyota Tsusho to purchase its 51% stake for a tentative maximum price of RM3.74.

Plantation counters could see trading action as production in Malaysia dropped to the lowest level since April 2012.

JF Apex Research said Gamuda and Puncak Niaga rejected the offer by Selangor government to take over their water assets.

As for Pestech, it secured RM242mil engineering works in Cambodia.

Property counters could be in focus also as survey indicated that majority of Rehda members found pessimistic or neutral on outlook for this year.

Overnight on Wall Street, US stocks fell and brought the S&P 500 down from its latest record, as a deceleration in China's exports had investors fretting about the health of the global economy. Similarly, European shares closed lower with basic resources stocks weighing heavily on bourses after weak data from China over the weekend.

At Bursa Malaysia on Monday, the FBM KLCI fell 10.20 points to close at 1,822.06.

JF Apex Research said Asian stocks seemed set for a rebound on Tuesday, shrugging off a slightly lower close on Wall Street amid concerns about the outlook for global growth following an unexpected fall in Chinese exports.

The Bank of Japan concludes a two-day policy meeting on Tuesday and while no action is expected, investors will be looking out for clues on the timing of any future monetary stimulus.  India will release its February trade data later in the day.

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