Trading ideas: Pharma, energy, gloves and techs

TheStar Tue, Nov 10, 2020 08:43am - 5 months ago

analyst reports123

KUALA LUMPUR: JF Apex Research expects vaccine-related stocks, and sectors such as aviation, gaming, banking, O&G, consumer and REIT to be under investors’ interests on Tuesday.

As for gloves, plastic packaging, last-mile logistics and technology counters, they could come under selling pressure after the development of a coronavirus vaccine.

On Wall Street, Reuters reported the S&P 500 and the blue-chip Dow indices followed world equity indexes higher and US Treasury yields surged on Monday, as progress in the development of a coronavirus vaccine sparked a surge of optimism that the global economy will stage a solid recovery as life returns to normal, The Dow Jones Industrial Average rose 834.57 points, or 2.95%, to 29,157.97, the S&P 500 gained 41.06 points, or 1.17%, to 3,550.5 and the Nasdaq Composite dropped 181.45 points, or 1.53%, to 11,713.78.

JF Apex Research said stocks to watch based on corporate newsflow are: Ho Wah Genting said its unit has obtained a one-year conditional approval from Indonesia's health ministry to manufacture medical products such as surgical face masks, Covid-19 rapid test cassettes and liquid chemical sterilants.

United Plantations’ 3QFY20 net profit rose 58.35% on-year, on higher palm prices and production.

QES Group has been appointed to take over Nikon Corp’s industrial metrology business in Malaysia, effective from Jan 1,2021.

Handal Energy’s 51%-owned Borneo Seaoffshore Engineering Sdn Bhd has secured a pipeline isolation services contract from ExxonMobil Exploration and Production Malaysia Inc.

Huawei Technologies (Malaysia) Sdn Bhd and cashless payment solutions provider Revenue Group’s unit Revenue Safe Nets Sdn Bhd have teamed up to develop an e-services hub, focusing on helping small and medium enterprises (SMEs) in Malaysia move towards digital transformation and effectively boost their presence in the market.

JHM will be transferring its listing to the Main Market of Bursa Malaysia, effective Nov 12.

Kossan Rubber’s 3QFY20 net profit surged 609% yoy mainly due to higher sales volume and selling price, as demand for rubber gloves continue to outstrip supply amid the Covid-19 pandemic.

ES Ceramics notified that its non-independent director Datuk Kamal YP Tan has ceased to be a substantial shareholder after disposing all of his remaining shares of 47.18 million shares or 10.46% of the company issued shares.

The auditor of Barakah Offshore has issued a disclaimer of opinion on the group’s audited financial statements for the financial year ended June 30,2020 (FY20), as it could not obtain sufficient appropriate audit evidence to provide a basis for an audit opinion.

Related Stocks

APEX 0.920
BURSA 8.460
HANDAL 0.230
HWGB 0.445
QES 0.635
UTDPLT 14.680


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