Trading ideas: UEM Sunrise, TWL, MR DIY, Kelington, MSC
KUALA LUMPUR: Stocks to watch on Friday include UEM Sunrise Bhd, TWL Holdings Bhd, Kelington Group Bhd, MR DIY Group (M) Bhd, Malaysia Smelting Corp Bhd (MSC) and Syarikat Takaful Malaysia Keluarga Bhd, according to JF Apex Research.
UEM Sunrise is buying a freehold land on Jalan Sultan Yahya Petra, Kuala Lumpur for RM384.04mil.
TWL is buying three plots of freehold land in UEP Subang Jaya (USJ) and Putra Heights for RM45mil.
Kelington won a RM117mil contract to undertake bulk and specialty gas system distribution works for a memory solutions’ fabrication facilities in Singapore.
MR DIY’s net profit jumped 64.59% year-on-year (YoY) in 2Q22 to RM135.19mil.,
MSC 2Q22 net profit jumped by over 13 times YoY to RM39.45mil while Syarikat Takaful’s net profit in the 2Q22 fell 14.62% YoY to RM69.62mil.
Meanwhile, the US market was mixed with the Dow and S&P falling while the Nasdaq climbed as investors waited for the June jobs data later today.
The Dow Jones Industrial Average fell 85.68 points, or 0.26%, to 32,726.82, the S&P 500 lost 3.23 points, or 0.08%, to 4,151.94 and the Nasdaq Composite added 52.42 points, or 0.41%, to 12,720.58.
Earlier, European stocks rose after the Bank of England raised interest rates by 50 basis points, the highest since 1995.
“Following the flat performance in Wall Street, the FBM KLCI could consolidate and trend sideways below the resistance of 1,510 points,” JF Apex said.