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Trading ideas: Comintel, Hap Seng, TH Heavy, BFood, YTL Corp

KUALA LUMPUR: Comintel Corp Bhd, Hap Seng Consolidated Bhd, TH Heavy Engineering Bhd, Berjaya Food Bhd (BFood), YTL Corp Bhd and YTL Land and Development Bhd are among the stocks to watch on Friday, according to JF Apex Research.

Asia stocks steady after oil surge lifts Wall Street

TOKYO: Asian stocks held their ground on Friday after Wall Street gained on a surge in oil prices as attacks on tankers in the Gulf of Oman stoked U.S.-Iran tensions and raised concerns over supply flows through one of the world's main sea lanes.

MSCI's broadest index of Asia-Pacific shares outside Japan was little changed.  Australian stocks edged up 0.05% while Japan's Nikkei dipped 0.1%.

Indonesia testing 30% biodiesel in cars; next trains

JAKARTA: Indonesia on Thursday began testing biodiesel with a bio-content of 30% in cars, its energy ministry said, as the Southeast Asian nation pushes to boost local markets for its vast palm oil crop.

In Malaysia Minister of Primary Industries Teresa Kok (right) showing the comparison of normal diesel (B0) which emits more black soot and the much cleaner biodiesel (B100) at MPOB - FMM 2nd Seminar on Biodiesel Implementation at The Northam All Suite Hotel in Georgetown. With her is FMM Penang Chairman Dr Ooi Eng Hock (second right). Starpic By: ZAINUDIN AHAD/The Star / 13 June 2019

Wall St. climbs as oil jumps after Gulf tanker attacks

NEW YORK: U.S. stocks rose on Thursday after two days of declines, as energy shares rebounded with oil on concerns of a supply disruption following attacks on two tankers in the Gulf of Oman.

An Iranian navy boat sprays water to extinguish a fire on an oil tanker in the sea of Oman, Thursday, June 13, 2019. Two oil tankers near the strategic Strait of Hormuz came under a suspected attack Thursday, setting one of them ablaze in the latest mysterious assault targeting vessels in a region crucial to global energy supplies amid heightened tension between Iran and the U.S. - AP Photo/Tasnim News Agency

Greatech stages firm debut on Ace Market

KUALA LUMPUR: Greatech Technology Bhd made a firm debut on the Ace Market of Bursa Malaysia yesterday, opening at 63.5 sen, which was 2.5 sen above its offer price of 61 sen.

HSBC: Small upside bias for FBMKLCI

KUALA LUMPUR: The FBM KLCI may only see limited gains although the bias remains on the upside for the benchmark index, says HSBC Private Banking’s chief market strategist for South-East Asia James Cheo.

HSBC said that there was a 3%-4% upside for the FBM KLCI, with a year-end target of 1,740 points. For stocks in Malaysia, HSBC favours those with exposure to the domestic consumer and infrastructure stocks as well.

YTL Corp wants share swap deal with YTL Land

PETALING JAYA: YTL Corp Bhd has proposed to acquire all remaining shares in its listed subsidiary YTL Land & Development Bhd via a conditional share swap.

YTL Group is proposing to acquire the YTL Land shares at an offer price of 36 sen per share, which translates to an exchange ratio of about 0.32 in YTL shares for each YTL Land share.

CFOs told to be brave

KUALA LUMPUR: Chief financial officers (CFOs), being the main line of defence in every corporate organisation, must never be afraid to raise any issues of wrongdoings in their companies.

Declining palm oil stock boosts prices

KUALA LUMPUR: The declining palm oil stock at 2.45 million tonnes for end-May is supportive of the near-term crude palm oil (CPO) prices, says CGSCIMB in its latest agribusiness report.

CGSCIMB said: “We project palm oil stock to fall 5% month-on-month (m-o-m) to 2.31 million tonnes as at end-June 2019 as exports and consumption are projected to trump production and imports.  “Historically, local palm oil stock typically bottoms in June which is about 30% over the past 10 years.”