Trading ideas: KSL, Instacom, SKP, Tecnic

KUALA LUMPUR: JF Apex Research expects KSL, Instacom, SKP and Tecnic to see trading interest on Friday on the back of fresh corporate news.

It said KSL had proposed a one-for-one bonus issue and dividend reinvestment plan to reward its shareholders. As for SKP, it will buy Tecnic’s entire business for RM200mil.

JF Apex Research said Instacom 35% stake of Neata Aluminium (M) Sdn Bhd for RM59mil in an all-share deal which will enable the group to diversify into aluminium design and fabrication, and civil engineering.

Overnight, US stocks finished little moved overnight with smaller companies rebounding after dropping into corrective mode the prior day, as investors mulled an unexpected drop in weekly jobless claims ahead of the monthly payrolls report.

In Europe, major indices fell after a press conference by European Central Bank (ECB) President Mario Draghi left investors wanting more details about its asset purchase programme.

At Bursa Malaysia, the FBM KLCI closed down 7.64 points to 1,837.68.

“Asian equities are set to extend losses on the final trading day of the week ahead of key US jobs data with Hong Kong markets in focus following a two-day holiday. We expect the KLCI to test its support at 1,830,” it said.

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