Trading ideas: Mah Sing, China Stationery, DRB Hicom, PJ Devt, OSK Property


  • Business
  • Friday, 29 Aug 2014

KUALA LUMPUR: JF Apex Research expects Mah Sing, China Stationery, DRB-HICOM, PJ Development and OSK Property to see trading interest on Friday.

It said Mah Sing has proposed to buy a parcel of land in Puchong with an estimated GDV of RM9.3bil.

China Stationery posted net loss in its 2Q due to impairment loss caused by a fire in one of its plants.

As for DRB Hicom,  the group's 1Q net profit soared strongly due to better sales in its automotive and services sectors.

JF Apex Research said PJ Development posted higher on-year revenue and net profit thanks to strong property sales and progress billings.

OSK Property is disposing of 43.7ha in Sungai Petani, Kedah to the PR1MA Corp Malaysia for RM56mil.

Overnight on Wall Street, US stocks edged lower on Thursday after the latest tension between Ukraine and Russia snapped the focus of investors back to the volatile region, but US economic data helped curb losses.

The S&P 500 back below 2,000, as concerns about Ukraine overtook upbeat reports on the US economy and the labour market.

On the local bourse, the FBM KLCI rose 3.30 points to 1,875.86. 

"Asian equity markets are expected to open lower on the final trading day of the week on concerns of a worsening situation in Ukraine and ahead of a raft of Japanese data.

 

"We expect the KLCI to continue hovering below its resistance of 1,880," it said.
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