Trading ideas: CIMB, MBSB, RHBCap, BHS, Inari


KUALA LUMPUR: JF Apex Research expects CIMB Group, Malaysia Building Society Bhd (MBSB)and RHB Capital to see trading interest when they resume trading on Thursday.

On Tuesday, Bursa Malaysia Securities disallowed the Employees Provident Fund from voting on the planned merger.

As for BHS Industries, as it has proposed a special share dividend, a one-for-one bonus issue, and a share split.

Inari Amerton priced its proposed one-for-eight rights issue at RM1.50 per share, which is a discount of 35.62% from the theoretical ex-rights price of RM2.33.

Overnight on Wall Street, US stocks closed lower following the S&P 500's biggest jump in a year, over the fatal shooting of a soldier in Ottawa, reports of gunfire in the halls of Canada's Parliament and oil falling to a more-than two-year low.

European shares overcame a day of fluctuations to close higher amid speculation over bond-buying by the European Central Bank (ECB) and the results of an upcoming bank stress test.

Last Tuesday, the FBM KLCI fell 6.92 points to 1,796.22.

“Following the decline in US markets, we expect the KLCI to hover below the psychological level of 1,800,” it said.

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