Trading ideas: LFE, Dufu Technology, Frontken, Reservoir Link Energy and Maybank

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KUALA LUMPUR: There could increased trading action in LFE, Dufu Technology, Frontken, Reservoir Link Energy and Maybank, said Apex Research


LFE Corp Bhd’s unit has accepted three letters of award worth a combined sum of RM97.84 million.

Dufu Technology Corp Bhd’s 2Q23 net profit dropped 89% to RM3.32 million.

Frontken Corp Bhd’s 2Q23 net profit slipped marginally by 0.89% to RM31.91 million.

Reservoir Link Energy Bhd has secured an award from Petronas Carigali Sdn Bhd.

Malayan Banking Bhd’s 98.54%-owned PT Bank Maybank Indonesia Tbk’s net profit for the first half ended June 30, 2023 jumped 44.5% to RM286.54 million.


Meanwhile, the US market was mixed with the Dow climbing but the S&P and Nasdaq slipping amid ongoing corporate earnings season.

Earlier, European markets declined after euro zone manufacturing activity fell in July. Investors could react negatively after Fitch downgraded the US’ long-term credit ratings.

On the local market, the FBM KLCI dropped 8.19 points or 0.56% to 1451.24 points.

“Following the recent bullish momentum, the FBM KLCI could take a breather and consolidate below the resistance of 1,460 points,” said Apex.

– The Star

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