Media Outlet: The Star
12:59 AM, Thursday, 07 Mar 2019
Trading ideas: Vertice, N2N Connect, Rex Industry, RHB Bank
Vertice has secured a RM100mil sub-contract to supply labour and equipment for the precast viaduct (u-trough girder) of the Light Rail Transit Line 3 (LRT3).
N2N Connect has inked a partnership with its substantial shareholder as part of its plan to venture into the digital asset exchange business across the Asia Pacific region.
Rex Industry has acquired a piece of land together with existing industrial buildings in Batu Pahat, Johor for RM13mil in cash, for the purposes of extending its production line.
RHB Bank saw 189 million shares or a 4.73% stake traded off market today for RM592.63mil at RM5.45 per share, a nine sen or 1.62% discount to RHB’s closing price of RM5.54 yesterday.
Meanwhile, US markets ended lower after trade deficit hit a 10-year high.
The Dow Jones Industrial Average pulled back 133.17 points to 25,673.46 while the S&P 500 fell 0.65% to 2,771.45.
Earlier, European stocks closed mixed as investors wait for details on the US-China trade talks.
“Following the lacklustre performance in the US, the FBM KLCI could remain pressured and hover above the support of 1,680 points,” it said.