KUALA LUMPUR: Stocks to watch for on Friday include stocks with recent corporate earnings including Maybank, Genting Malaysia, Petronas Chemicals, SOP, Vitrox, among others, says JF Apex Research.
Maybank, Genting Malaysia, Petronas Chemicals, SOP, Vitrox, WCT, Tambun Indah, LBS, Magnum, D&O, SD Property, 7-Eleven, TSH Resources, Optimax, Malayan Cement achieved better y-o-y quarterly net earnings whilst Genting, IJM, TNB, Pentamaster, QL Resources, UEM Edgenta , Maxis, CCK, MBSB, YTL recorded weaker y-o-y net profit on their quarterly results.
Advancecon said its 30%-owned associate Advancecon Sarawak Sdn Bhd has bagged sub-contract works worth RM18.7mil from Petrofac Engineering Services (Malaysia) Sdn Bhd to undertake early civil works such as earthworks and other related works at the project site of Petroliam Nasional Bhd in the Bintulu Additional Gas Sales Facilities 2, Sarawak.
Meanwhile, the FBM KLCI dropped 12.25 points to 1,573.89 in the previous sessions amid a full-scale invasion of Ukraine by Russia.
JF Apex expects the index to remain under pressure and retest the support of 1,570 points following the geopolitical tensions and negative sentiment.
In the US market, equities closed higher overnight in volatile trading on news of the Russian invasion,
European stocks had plunged earlier on the same news.