Latest Business News in Malaysia
Kim Loong Resources, a plantation company, reported a 10.6% YoY decline in net profit for the third quarter of fiscal year 23 due to softening revenue in its latest business update
Stock Market
Lackluster Local Stock Trading
Wall Street closed higher as focus was shifted to politics towards the US mid-term elections 2022 today following a choppy session.
Buying Interest – Banks, Telcos, & Tech Stocks
The Brent crude price surged past the USD90 mark to almost USD92/barrel on reports that OPEC may cut production by an even bigger margin than initially forecast.
Commodity Stocks Face Headwinds
Commodities-related stocks are expected to encounter some headwinds today with the heightened volatility between the global currencies
Local Market Trending Higher
Yesterday, FBM KLCI ended lower due to lack of buying interests. The benchmark index lost 0.36% or 5.35 points to close at 1,492.33 with losers led by HARTA, PETGAS and HLBANK.
Nestlé: Continuing cost pressure
Nestle's long term prospect are favorable underpinned by its strong balance sheet, which could provide cushion towards potential economy downturn
Bursa dragged by 2QFY22 But Expected To Rebound
The weakness in trading activities in 1HFY22 is due to volatility caused by US Fed’s hawkish stance and geopolitical issues