MPI saw its net profit jump 31.5% year-on-year in its third quarter ended March 31, 2020 (3QFY20) to RM22.05mil from RM16.77mil.
Genting Plantations Bhd’s net profit for the first quarter ended March 31, 2020 (1QFY20) by more than twofold to RM91.3mil, from RM41.68mil a year earlier.
Malakoff posted a 33% on-year rise in net profit for the first quarter ended March 31, 2020 to RM89.18mil.
Aeon saw its net profit plunge 77.1% to RM7.47mil for the first quarter ended March 31, 2020 (1QFY20), from RM32.64mil a year earlier, on lower revenue.
Ranhill’s first quarter net profit fell 14.87% on-year to RM18.19mil from RM21.37mil.
TM’s first-quarter net profit more than halved to RM152.52mil, from RM308.28mil a year earlier.
On the other hand, Suria Capital, CCM, PetChem, PetGas, Wah Seong, Hup Seng posted weaker y-o-y quarterly net earnings.
Meanwhile, US markets rose overnight as the bullish momentum continues amid economies being reopened.
The Dow Jones Industrial Average closed 1.5%, at 24,575.90.The S&P 500 advanced 1.7% to 2,971.61, its highest closing level since March 6. The Nasdaq Composite outperformed, rallying 2.1% to 9,375.78.
Similarly, European stocks advanced as countries began to lift lockdowns and corporate earnings are being monitored.
“Following the positive performances in the US and Europe, the FBM KLCI could extend its rebound towards the resistance of 1,455 points,” JF Apex said.
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