The main index at Bursa Malaysia rose 1.04% at the midday break today, tracking the jump at regional markets, as Petroliam Nasional Bhd (Petronas)-linked stocks led the gains.
(Feb 24): Most Asian equities shed early gains to fall on Wednesday as persistent worries over steep asset valuations and the recent strength in US Treasury yields hit risk sentiment, with local bond yields clinging to multi-month highs.
MSCI s broadest index of Asia-Pacific shares outside Japan deepened losses with a near 2% drop, while high-flying technology stocks in South Korea and Taiwan were among the region s biggest decliners.
Sentiment in Philippines took a further hit, with stocks down nearly 1%, as Covid-19 restrictions were extended in the capital earlier this week.
Elsewhere, US Federal Reserve Chairman Jerome Powell soothed inflation concerns and reiterated an accommodative policy stance in an overnight speech, but did not address potential risks from rising bond yields.
Over 1,000 stocks in red; KLCI closes at intra-day low of 1,557 55 theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR: Press Metal Aluminium Holdings Bhd’s net profit was lower to RM457.2 million in the financial year ended Dec 31, 2020 from RM473.97 mill.
KUALA LUMPUR (Feb 24): Based on corporate announcements and news flow today, companies in focus tomorrow (Feb 25) may include: Telekom Malaysia Bhd, VSTECS Bhd, Vitrox Corp Bhd, D&O Green Technologies Bhd, Rubberex Corp Bhd, Allianz Malaysia Bhd, Press Metal Aluminium Holdings Bhd, Inari Amertron Bhd, Aeon Co (M) Bhd, Genting Plantations Bhd, Parkson Holdings Bhd, DRB-Hicom Bhd, Hap Seng Plantations Holdings Bhd, Globetronics Technology Bhd, Dayang Enterprise Holdings Bhd, Datasonic Group Bhd, UOA Development Bhd, Prestar Resources Bhd, Tek Seng Holdings Bhd, Majuperak Holdings Bhd, AirAsia Group Bhd, Destini Bhd and LKL International Bhd.
Telekom Malaysia Bhd (TM) returned to the black in the fourth quarter ended Dec 31, 2020 (4QFY20) registering a net profit of RM259.44 million from a net loss of RM51.09 million recorded a year earlier due to lower operating costs and net other gains, the telco said. The improvement in its bottom line was despite the fact that TM saw its revenue f