Wednesday, August 19, 2015

Thakral, Ellipsiz, Union Steel, Midas, CEFC International

The following stocks may be in focus and may see price action today:

Thakral Corporation, through its subsidiary Thakral Capital Australia, has set up a joint-venture company GTH Resorts with PVAP to develop and operate retirement communities.

Union Steel Holdings, which recycles steel and scrap metal, expects a net loss in the FY2015 ended June 30.

Semiconductor testing firm Ellipsiz’s earnings fell 51% to $6.7 million for the financial year ended June 30. Revenue slid 22% to $112.5 million for the year, owing to the divestment of its facilities and communication activities in the fourth quarter.

A subsidiary of Midas, Jilin Midas Aluminium Industries Co, has clinched three contracts worth RMB94.6 million yuan ($21 million) to supply  aluminium alloy extrusion profiles for metro trains in China.

Fuel trader CEFC International, whose shares have surged more than 10 times since mid-July, says “no definitive terms or formal legal documentation” have been reached in respect to the ongoing talks on potential joint ventures the group said it has been involved with.

US stocks were lower, on the back of a 6% tumble in Chinese shares on Tuesday, and weak earnings from Wal-Mart. The Dow Jones industrial average fell 33.84 points, or 0.19%, to 17,511.34, the S&P 500 dropped 5.52 points, or 0.26%, to 2,096.92 and the Nasdaq Composite declined 32.35 points, or 0.64%, to 5,059.35.

Singapore shares ended weaker on Tuesday, while other Asian markets also fell, led by a rout in bourses on Mainland China as investors trimmed expectations for further monetary stimulus from China’s government to support equity markets.The Straits Times Index ended the day 0.58% lower at 3,049.65, after trading between 3,049.65 and 3,084.83. Excluding warrants, decliners outnumbered gainers 354 to 111.

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