Trading ideas: Maybank, Sime Darby PLantations, Sime Daby, CelcomDigi, KLK, Batu Kawan, MISC, Sunway

KUALA LUMPUR: Companies with recent corporate announcements include Maybank, Sime Darby PLantations, Sime Daby, CelcomDigi, KLK, Batu Kawan, MISC, Sunway, Media Prima, Genting Plantation, Hap Seng Plantations and Hibiscus Petroleum, said Apex Research.

Malayan Banking Bhd's (Maybank)’s 1Q23 net profit rose 10.7% to RM2.27 billion.

Sime Darby Plantation Bhd’s 1Q23 net profit plunged 90.4% to RM69 million.

Sime Darby Bhd’s 3QFY23 net profit dipped 1.6% to RM240 million.

CelcomDigi Bhd’s 1Q23 net profit climbed 34.63% to RM317.92 million.

Kuala Lumpur Kepong Bhd's (KLK) 2QFY23 net profit declined 65.09% to RM190.81 million.

Batu Kawan Bhd posted lower net profit of RM120.05 million in 2QFY2023.

MISC Bhd’s1Q23 net profit surged 62.83% to RM612.9 million.

Sunway Bhd’s 1Q23 net profit grew 3.76% to RM141.64 million.

Media Prima Bhd posted a net profit of RM3.9 million in 1Q23.

Genting Plantations Bhd's 1Q23 net profit fell 66.73% to RM38.81 million.

Hap Seng Plantations Holdings Bhd’s 1Q23 net profit declined 77% to R M23.42 million.

Hibiscus Petroleum Bhd’s 3QFY23 net profit declined 76.7% RM71.51 million.

Meanwhile, the US market plunged overnight amid Fitch Ratings puts the US’s AAA rating under negative watch as the ongoing debt ceiling negotiations has yet to yield positive results with one week left before deadline.

Similarly, European markets tumbled following little progress in the U.S. debt ceiling talks and the UK inflation dropped less than forecast.

"Following the bearish performance in Wall Street, the FBM KLCI could trend lower towards the support of 1393 points," said Apex.

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