Trading ideas: Public Bank , RHB, IHH, Capital A, Press Metal, PPB, Berjaya, Supermax and QL Resources

KUALA LUMPUR: Stocks with recent corporate result announcements include Public Bank , RHB, IHH, Capital A, Press Metal, PPB, Berjaya, Supermax and QL Resources, said Apex Research.

Public Bank Bhd's 2Q23 net profit rose 14% year-on-year to RM1.62 billion.

RHB Bank Bhd’s 2Q23 net profit rose 28% to RM808.70 million.

IHH Healthcare Bhd’s 2Q23 net profit dropped 50.7% to RM301.83 million.

Capital A Bhd returned to the black in 2Q23 with a net profit of RM1.12 billion.

Press Metal Aluminium Holdings Bhd’s net profit for 2QFY2023 dropped 25% to RM305.79 million.

PPB Group Bhd’s 2Q23 net profit dropped 70.8% to RM202.81 million.

Berjaya Corp Bhd posted a net loss of RM79.33 million in 4QFY23.

Supermax Corp Bhd posted a net loss of RM7.17 million in 4QFY23.

QL Resources Bhd’s 1QFY24 net profit rose 12.6% to RM92.81 million.

Meanwhile, the US market extended its rally overnight after slower consumer sentiment index and decline in open job listings could prompt the Federal Reserve to slow rate hikes.

Similarly, European markets rose following positive sentiment after China introduced measures to revive confidence. Investors will be looking forward to the US personal consumption expenditures index on Thursday and US non-farm payroll on Friday.

On the local market, the FBM KLCI surged 10.38 points or 0.72% to 1454.44 points in line with regional markets following China’s measures to lift stock market.

"Following yesterday’s rebound, the FBM KLCI could extend its gains retest its resistance of 1,465 points which has been capping the index since July," said Apex.

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