Published: Tuesday April 22, 2014 MYT 9:02:00 AM
Updated: Tuesday April 22, 2014 MYT 9:04:48 AM
KUALA LUMPUR: JF Apex Research expects IJM Corporation, OSK Holdings andIris Corporation to see trading interest on Tuesday as market sentiment continues to be upbeat.
Overnight on Wall Street, US stocks rose, with the S&P 500 netting its first five-day winning streak since October, as investors looked to a slew of quarterly earnings reports from companies including online film service Netflix.
At Bursa Malaysia, the FBM KLCI surged 10.24 points to close at 1,862.93.
“Asian equity markets are poised for modest gains on Tuesday following a rally on Wall Street overnight and as many regional markets resume trade following the long Easter weekend. Following the optimism, we expect the KLCI to test its resistance of 1,870,” said the research house.
JF Apex Research expects IJM Corp to see trading interest as the group was awarded a RM396mil job for a commercial development in Damansara Utama.
OSK Holdings plans to announce an acquisition of a business unrelated to the financial industry within the next six months.
As for Iris, it is teaming up with a Swiss company to provide GST refund services.
Zecon has withdrawn its proposed selective capital reduction plan which would have led to the privatisation of the company.