KUALA LUMPUR (Aug 30): The conclusion of Malaysia’s corporate financial reporting today for the April-June quarter will provide indications on how Bursa Malaysia-listed companies will fare for the year.
Investors will be keen to know whether these companies’ results met market forecast and how analysts rate their shares. The ratings could affect investment sentiment on certain companies and industries, hence, an impact on the broader market.
Yesterday, the FBM KLCI fell 8.35 points to close at 1,761.14 points. The ringgit was traded at 4.2677 against the US dollar.
Today is also the final market trading day for the week ahead of Malaysia’s National Day holiday tomorrow (Aug 31) and Hari Raya Haji holiday on Friday (Sept 1).
Analysts said today they expected the market to be quieter in conjunction with the holidays.
“The (KLCI’s) bearish technical momentum from yesterday’s (Aug 29) slide should follow through today, with the correction likely to be aggravated by less market players to cushion downside ahead of the Merdeka and Hari Raya Haji festival holidays,” TA Securities Holdings Bhd wrote in a note.