Stocks to watch: US job data may impact market today

by **Cals** Mon 07 Apr 2014, 16:46

Business & Markets 2014

Written by Chong Jin Hun of theedgemalaysia.com

Monday, 07 April 2014 09:58

KUALA LUMPUR: Based on Bursa Malaysia announcements and news flow last Friday, stocks to watch today include Lii Hen Industries Bhd, Hup Seng Industries Bhd and Datasonic Group Bhd.

Lii Hen reported that its furniture factory in Muar, Johor had caught fire. The factory within the Bukit Pasir Industrial Estate is operated by the company’s wholly-owned subsidiary Lii Hen Furniture Sdn Bhd.

According to Lii Hen, the fire occurred on the evening of April 3.

FBM KLCI-linked stocks such as Public Bank Bhd and Tenaga Nasional Bhd may attract attention as investors digest updates on the US job market.

The employment data, which was announced last Friday, is seen as a crucial indicator of US monetary policy. Changes in the policy are expected to have significant impact on world financial markets.

Public Bank shares traded under PBBANK and Public Bank Bhd-Foreign (PBBANK-O1) may also be closely watched ahead of the merger of both stocks on April 16.

The reference opening price of the merged entity will be PBBANK’s closing price on April 15. Following the merger, PBBANK-O1 will be removed from Bursa Malaysia. Hence the final trading day for PBBANK-O1 will fall on April 15.

Food-based Hup Seng said the company’s dividend shares and bonus issue units will be listed on Bursa Malaysia today.

Hup Seng is splitting one share with a par value of 50 sen into five units of 10 sen each. The firm is rewarding shareholders with one bonus share for every three existing shares held.

Datasonic has secured a RM5.4 million contract from the Penang Municipal Council to supply, install and maintain closed-circuit television cameras in Penang.

The contract which starts tomorrow expires on July 28, 2020.

This article first appeared in The Edge Financial Daily, on April 7, 2014.