KUALA LUMPUR: Stocks in focus on Thursday include Kuala Lumpur Kepong, Sime Darby Plantation, Genting Plantation, Itmax, Amway, Allianze, Apex Healthcare, TSH Resources, Pos Malaysia, MBM and Sports Toto, said Apex Research.
Sime Darby Plantation Bhd’s 2Q23 net profit fell by 53% to RM380 million.
Genting Plantations Bhd’s 2Q23 net profit tumbled 68.24% to RM70.97 million.
ITMAX System Bhd’s 2Q23 net profit surged 72.21% to RM15.12 million.
Amway (M) Holdings Bhd issued a profit warning for FY2023 as inflation took a toll on consumers’ purchasing power and spending appetite despite 2Q23 net profit rising 18.5% to RM17.74 million.
Allianz Malaysia Bhd’s 2Q23 net profit increased 11.06% to RM166.67 million.
Apex Healthcare Bhd’s 2Q23 rose more than 14-fold rise to RM329.48 million.
TSH Resources Bhd’s 2Q23 net profit tumbled 81.58% to RM10.56 million.
Pos Malaysia Bhd’s 2Q23 net loss widened to RM27 million.
MBM Resources Bhd’s 2Q23 net profit fell 29.88% to RM51.93 million.
Sports Toto Bhd’s 4QFY23 net profit rose 34.33% to RM62.35 million.
Meanwhile, the US market surged overnight with the Nasdaq extending its 3-day winning streak as the 10-year US Treasury yield came of its highest level since 2007.
Earlier, European markets rose following corporate earnings. Investors will be waiting for the US Federal Reserve Chairman’s speech at the Jackson Hole symposium this Friday for hints on interest rate.
On the local market, the FBM KLCI plunged points 11.42 or 0.79% to 1440.11 points.
"Following the recent lacklustre, the FBM KLCI could trend lower towards its support of 1,437 points," said Apex.