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apple developer account for sale (buyappleacc.com):Brighter prospects in store for firms in Q4

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,Foreign funds have turned net buyers.

PETALING JAYA: The second-quarter (Q2) earnings of listed companies on Bursa Malaysia have been robust, indicating that the country’s economic recovery is shaping up from the Covid-19 fallout.

Rakuten Trade Sdn Bhd head of equity sales Vincent Lau said 75% of companies that had disclosed their Q2 results were above or “met” expectations mainly from the banking, plantations and manufacturing sectors.

The Q2 earnings performance is an indication that the economy is on a recovery path and that the momentum is just starting, according to Lau.

“We do expect some hiccups in corporate earnings growth in the Q3 due to the movement control order (MCO).

“But, investors are looking beyond Q3 with recovery in business and economy driven by the government’s efforts to stabilise its policies, the low base effect, rally in commodity prices globally, and opening up of more economic activities,” he told StarBiz.Rakuten Trade Sdn Bhd head of equity sales Vincent Lau said 75% of companies that had disclosed their Q2 results were above or “met” expectations mainly from the banking, plantations and manufacturing sectors.

He added that the local stock market was hit “quite badly” and “oversold” due to multiple reasons, but this will change especially with the successful vaccination programme and vote of confidence given by the foreign investors.

MIDF Research reported that foreign investors bought RM964.33mil worth of stocks on Bursa Malaysia last week.

The research house said it was the third consecutive week of net buying by foreign investors.

“Foreign investors were net buyers for every day of the week. The largest foreign inflow was recorded on Thursday,” it said in a recent report.

The FBM KLCI has rallied higher for seven straight sessions, gaining more than 80 points to 1,601.38 points, thanks to encouraging foreign investor participation in the market.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid (pic below) said the stellar corporate earnings performance was in line with the surge in the country’s economic growth of 16.1% in Q2.Bank Islam's Mohd Afzanizam

While he expected that companies’ Q3 earnings could be dragged down by the MCO that saw restricted business and economic activities in June and July, investors should look beyond Q4 driven by the vaccination rollout and more states that had moved to Phase Two of the National Recovery Plan.

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