Trading ideas: Tasek, WZ Satu, PNE PCB, Protasco


  • Business
  • Wednesday, 06 Aug 2014

KUALA LUMPUR: JF Apex Research expects Tasek Corp, WZ Satu, PNE PCB and Protasco to be among the stocks which could attract trading interest on Wednesday.

 

It said Tasek Corp’s 2Q net profit soared 43% on-year on the back of stronger demand of cement in the domestic market.

 

As for WZ Satu, the group won a RM30mil roadwork contract in Pahang while printed circuit board manufacturer PNE PCB reported that Credit Suisse has bought a 5.7% stake.

 

Protasco called off its venture into the onshore marginal oilfield development in Indonesia.

 

Overnight on Wall Street, US stocks declined sharply Tuesday, more than wiping out the prior day's gains, with traders citing uncertainty about the tension between Russia and Ukraine and concerns that the strengthening economy will lead to higher interest rates.

 

At Bursa Malaysia, the FBM KLCI added 0.89 of a point to close at 1,876.69.

 

“Asian equity markets are bracing for losses on worries that tensions between Russia and Ukraine could escalate into a military conflict.

 

“As such we expect the KLCI to decline today with immediate support at 1,860,”  it said.


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