KUALA LUMPUR: JF Apex Research expects Ho Hupm Yinson
and Gamuda to be among the stocks to watch on Tuesday following fresh corporate developments.
It said Ho Hup plans to exit PN17 earlier after achieving five consecutive quarters of profit.
As for Yinson, the group’s 3Q net profit rose 82% on-year to RM15.51mil on higher contribution from the marine unit of the company.
JF Apex Research also said Gamuda now controls 70% of Kesas Holdings, the concessionaire of the Kesas Highway, following the acceptances from Permodalan Nasional Bhd and Amcorp Properties.
As for the FBM KLCI, it extended its record high after a last minute surge saw the index close 11.46 points higher at 1,872.52.
“We expect profit taking to be absorbed by window dressing with resistance at 1,880,” said the research house.
Overnight on Wall Street, US stocks finished little changed on Monday, with the S&P 500 on track for its largest yearly increase in 16 years, after a report on pending home sales came in below expectations.
European shares closed lower but the region's stock indexes are still on track to post their biggest annual gains in four years, said JF Apex Research.
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