KUALA LUMPUR: There could be some investor interest in stocks with recent corporate announcements including AirAsia X, Supermax, Sime Darby Plantations, TM, Hibiscus Petroleum, Guan Chong, SunCon, Power Root, Boustead Plantations and Pavilion REIT, said Apex Research.
AirAsia X returned to the black after posting a net profit of RM25.09 million for 5QFY2022.
Supermax saw net profit drop 99% YoY to RM5.71 million for its 1QFY2023.
Sime Darby Plantation Bhd’s net profit fell 34.98% YoY to RM396 million in 3Q22.
Telekom Malaysia’s 3Q22 net profit fell 2.2% YoY to RM265.20 million.
Hibiscus Petroleum Bhd saw its net profit more than triple YoY to RM135.26 million 1QFY2023.
Guan Chong Bhd (GCB)net profit fell 11% YoY to RM30.76 million in 3Q22.
Sunway Construction’s net profit for 3Q22 rose 17.72% YoY to RM22.72 million.
Power Root Bhd’s net profit almost tripled YoY to RM15.62 million in 2QFY2023,
Boustead Plantations registered a net loss of RM352,000 for 3Q22.
Pavilion REIT is buying Pavilion Bukit Jalil mall (PBJ mall) from Malton Bhd in a RPT for RM2.2 billion.
Meanwhile, Apex said the benchmark index could remain under pressure on political uncertainty as the hung parliament situation enters its third day without a clear solution.
"Stocks perceived to be related to Prime Minister candidates Dato Seri Anwar Ibrahim (ASB and MUI) and Tan Sri Muhyddin Yassin (Eden and Thriven) will continue to attract trading volume," said the research firm.
Elsewhere, the US market surged overnight following corporate earnings and hopes of the Federal Reserve easing interest rate hikes.
European stocks hit a 3-month high as investors shrugged off China's tightening of Covid restrictions.