ERC20:Trading ideas: CTOS, MHC Plantations, Globetronics, Kossan, Pasukhas, Salcon, Techna-X and XOX
KUALA LUMPUR: Stocks with corporate announcements that could see trading interest on Wednesday include CTOS, MHC Plantations, Globetronics, Kossan, Pasukhas, Salcon, Techna-X and XOX, according to JF Apex Research.
CTOS Digital Bhd's net profit for 2Q22 surged 89.8% YoY to RM22.48mil.
MHC Plantations Bhd posted an 80% YoY rise in net profit to RM16.31mil for 2Q22.
Globetronics Technology Bhd's net profit for 2Q22 rose 79% YoY to RM11.19mil.
Tasco Bhd's net profit jumped 55% YoY to RM24.43 million for the 1QFY23.
Kossan Rubber Industries Bhd’s 2Q22 net profit plunged 95.6% YoY to RM45.99mil.,
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Pasukhas Group Bhd has clinched an RM11.34mil sub-contract from Salcon Engineering Bhd for the execution and completion of electrical works for Water Treatment Plant Telibong II in Sabah.
Techna-X Bhd has proposed a private placement to raise up to RM24.05mil to fund new information technology (IT) contracts and orders.
XOX Bhd plans to undertake a private placement exercise to raise RM9.95mil to develop a digital media management application.
Meanwhile, JF Apex said the FBM KLCI could remain under pressure belw the resistance of 1,510 points following the bearish performance on Wall Street.
The US market declined overnight led by consumer stocks after giant retailer Walmart cut its profit forecast, which raised concerns over consumer spending going forward.
Earlier, European stocks were slightly lower amid quarterly results and expectations of a 75 basis points rate hike by the US Federal Reserve tomorrow.