Malaysia Stocks To Watch Next Week

KLSE stock news

Market Wrap Up 

Bursa Malaysia index traded sideways to positive mainly influenced by US political uncertainties, partial government shutdown, and potential interest rate hikes by the Federal Reserve.

Market participants were adjusting their portfolio to show YTD (Year to Date) positive return. Stock specific and news related price movements witnessed.

As per weekly close, FBM KLCI closed up 21.79 points to 1692.07.

Sector-specific the Finance Index jumped 198.15 points to 17,641.69, the Industrial Products and Services Index ticked up 1.34 points to 166.81, while the Plantation Index was 87.48 points firmer at 6,897.74.

SAPNRG, HUBLINE, MYEG, and ARMADA Among weekly top actives counters list.

There is no any main catalyst to market next week it is expected that market to trade in 1675-1705 level, tracking global market.

Below stocks remain in focused next week after key announcements and news.

Berjaya Land Bhd (Code: 4219)

Berjaya Land Berhad is a subsidiary of Berjaya Corporation. It was incorporated in 1990 as part of the Restructuring by Sports Toto Malaysia Bhd whereby it acquired the entire paid-up capital of Sports Toto. It has made a number of major acquisitions of various property and leisure assets in Malaysia.

Latest News

The company plans to divest its entire stake in TPC Nghi Tam Village Ltd, which operates the five-star Intercontinental Hanoi West Lake Hotel. Proposed plans will result in a gain of about RM192.33 million.

Outlook 

On basis of price, action stock can trade in a range of 0.185-0.230. If price open with a gap up and reach the upper end of range wait for the break of this range.

Astro Malaysia Holdings Bhd

Astro Malaysia Holdings Berhad is a leading integrated consumer media entertainment group in Malaysia and Southeast Asia with operations in 4 key areas of business, namely Pay-TV, Radio, Publications, and Digital Media. With a customer base of 3.1 mil residential customers or 50% penetration of Malaysian TV households, Astro offers 156 TV channels, including 68 Astro-created and branded channels and 22 HD channels, delivered via Direct-To-Home satellite TV, IPTV and OTT platforms.

Latest News

Astro Malaysia Holdings Bhd’s subsidiary, MEASAT Broadcast Network Systems Sdn Bhd (MBSN), has secured an RM300 million term loan from AmBank (M) Bhd.

The loan facility is to be used to finance production, purchase and licensing of content to purchase set-top boxes, capital expenditure — including asset acquisition for broadcast and transmission and acquisition of software and platforms

Outlook

Stock can rise and trade in a range of 1.30 to 1.39. Bullish pattern formation and rounding bottom can assume price can rise further.

Scientex Bhd’s (Code: 4731)

Scientex Berhad was established as Scientific Textile Industries Sendirian Berhad and pioneered the manufacturing of polyvinyl chloride leather cloth and sheeting. It is the largest producer of stretch films in Asia.

Latest News

The company reported its quarter ending financial results in which profit fell 25.9% to RM 53.67 million vs RM 72.4 million a year ago. While revenue was up 9%

Outlook

After strong uptrend stock looks to break the level of 9.00 below this support level downside open new support comes around 8.70-8.80. Upper side resistance comes at 9.45-9.50.