Stocks which could see trading interest include Astro which came under selling pressure the previous day, SILK Holdings and banks including Public Bank.
The semiconductor industry, including chipmakers MPI and Unisem could attract interest.
The North America-based manufacturers of semiconductor equipment posted US$288.5 million in orders in May 2009 (three-month average basis) and a book-to-bill ratio of 0.74. This was the best so far this year after December 2008’s book-to-bill ratio of 0.86.
Astro is considering various plans to strengthen the group and this could include the separation of its overseas operation. There was a sharp pullback on the share price on Monday after the rally last week.
SILK shares could see volatile trading despite the majority shareholders’ approval to acquire the oil and gas (O&G) services provider, AQL Aman Sdn Bhd.
However, the upside for SILK is the expectations that it could be uplifted from the PN17 in two months.
Banks could see trading interest after Public Bank declared the “worst is over” when it announced a strong set of second quarter earnings and that it could achieve less than 1% of net non performing loans (NPL) for FY2009
Another boost for banks follows Moody’s Investors Services’ reaffirmation of eight out of the nine Malaysian banks' deposit and debt ratings should be at the A1 level, which is two notches above the country's local currency government debt rating of A3.
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