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KLCI continues to lose ground, Sapura Energy most active

KUALA LUMPUR: Blue chips continued to lose ground early Friday, tracking the cautious key Asian markets on the US-China trade war worries while a bright spot was Sapura Energy which rose in active trade after bagging RM1.8bil in contracts.

Trading ideas: Berjaya Food, Sapura Energy

KUALA LUMPUR: Berjaya Food Bhd and Sapura Energy Bhd are among the stocks to watch on Friday following their latest news, according to JF Apex Research.

RHB Research upgrades Sapura Energy to Buy, TP 82 sen

KUALA LUMPUR: RHB Research has upgraded Sapura Energy to Buy from Neutral, with an unchanged target price of 82 sen reflecting 37% upside after the oil and gas services company bagged contracts worth RM1.8bil.

Sapura Energy was securing significantly more contracts overseas – which indicates that global offshore activities are picking up.

Thai bourse targets 40% market cap growth by 2023

BANGKOK: Thailand’s national bourse is eyeing a near 40% rise in the market value of shares listed on it over five years to about US$700bil, driven by offerings from infrastructure funds, family businesses and company spinoffs, its new president said.

Pakorn Peetathawatchai (pic), who was promoted to the top job at the Stock Exchange of Thailand in June from vice-president, was optimistic about growth of the stock market in the South-East Asian nation despite a recent sell-off by foreign investors, a sharp decline in the benchmark index and a listless first half for listings on the bourse.