KUALA LUMPUR: JF Apex Research expects Nova MSC, Berjaya Land
, Berjaya Sports Toto and Kim Teck Cheong Consolidated to be among the stocks which could see trading interest on Wednesday as foreign funds tip-toe back into the market.
Stock market data showed foreign funds were net buyers on Tuesday at RM93.8mil while local institutions were net sellers at –RM43 mil and retail investors at –RM50.8mil.
It said Nova MSC fixed its private placement at 10 sen per share while Berjaya Land sold a 0.67% stake in Berjaya Toto for RM25.75mil. Mercury Industries bagged a RM9.8mil construction contract.
As for Kim Teck Cheong, the group was appointed as the non-exclusive distributor under the agreement for the sale and distribution of Anakku's hardline accessories.
Overnight on Wall Street, US markets ended mixed overnight as oil prices climbed above US$50 per barrel.
Earlier, European stocks rose after US Federal Reserve Chair Janet Yellen's latest comments and higher oil price lifted investor sentiment.
At Bursa Malaysia, the FBM KLCI surged 11.63 points to extend its uptrend to 1,660.62.
“Following the mixed performance in the US and Europe, the FBM KLCI could test its resistance of 1,670 after its positive momentum in the past few days,” said JF Apex Research.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
