Positive corporate earnings seen in 4Q

PETALING JAYA: Corporate earnings for the final quarter of 2022 (4Q22) are expected to remain positive, underpinned by festive spending ahead of Christmas and Chinese New Year, more tourist arrivals as well as higher bank earnings from rate hikes, says CGS-CIMB Research.

In a review note, released yesterday on overall corporate third quarter earnings on Bursa Malaysia, the research house reported that out of the 136 companies it covered, 38% of them posted earnings that exceeded its expectations, up from the 33% for the quarter ended June 30.