Trading ideas: MISC, Aeon Credit, Efficient E-Solutions
Hwang DBS Vickers Research (HDBSVR) expects MISC, Aeon Credit and Efficient E-Solutions to be among the companies which could see trading interest against a slow market backdrop.
It said on Friday that Petroliam Nasional Bhd's (Petronas) conditional takeover offer at the revised price of RM5.50 a shares closes at 5pm.
HDBSVR said as for Aeon Credit Service Malaysia, the micro-financing service provider reported a 41% jump in its latest quarterly earnings.
Efficient E-Solutions terminated its non-binding MoU with Singapore Post concerning a potential business collaboration in Indonesia.
As for the market outlook, HDBSVR said after the last-minute fall on Thursday, the FBM KLCI could stage a recovery.
"From a technical perspective, the benchmark index may continue to tread above the psychological mark of 1,700, possibly rising towards the resistance barrier of 1,720 ahead," it said. Overnight on Wall Street, leading US stock barometers fell between 0.6% and 1.2% on disappointing corporate earnings report cards and pedestrian economic data.