KUALA LUMPUR: Stocks to watch for on Wednesday include Cypark Resources, KLK, Land & General, Epicon and Scientex Packaging, said Apex Research.
Cypark Resources Bhd
has reported the emergence of a new substantial shareholder, Chung Dao, with a 5.5% stake.
Kuala Lumpur Kepong Bhd (KLK) acquired an additional 1.34 million Boustead Plantations Bhd (BPlant) shares from the open market yesterday.
Land & General Bhd (L&G) allayed concerns that liquidity issues faced by joint venture partner Country Garden would have a negative spillover effect on their 167-acre township development in Semenyih.
Epicon Bhd has won a structural works contract for a sum of RM34.5 million
Scientex Packaging (Ayer Keroh) Bhd’s 4QFY23 net profit slumped 98.7% to RM149,000.
Meanwhile, the US stock market ended slightly lower overnight ahead of the Federal Reserve’s interest rate decision later today as investors expect rates to be unchanged.
Similarly, European stocks dropped slightly ahead of a series of central bank decisions this week, namely the UK, Switzerland, and Turkey.
On the local market, the FBM KLCI was flat after shedding 0.33 points or 0.02% to 1457.66 points.
"The FBM KLCI may continue to trade sideways and remain below the resistance level of 1,465 points, which has been a barrier for the index since July," said Apex.
