KUALA LUMPUR, Jan 31 — Bursa Malaysia Bhd is expected to record a lower net profit for this financial year ending December 31, 2022 on an anticipated softening in the average daily trading value , according to analysts.
“We foresee 2022 ADV to soften year-on-year to RM2.39 billion from our earlier RM3 billion expectation,” it said in a research note today. On the projected lower ADV in FY22, the investment bank said this continued the FY21 trend of quarter-on-quarter softening of ADV premised on weaker market sentiment on likely Federal Reserve or Bank Negara Malaysia rate hikes, lack of catalysts across local sectors, and continued softening of retail ADV, with substantial downside risks.
CGS-CIMB retained its “hold” call on Bursa Malaysia, saying that the market appeared to have priced in the exchange’s weaker earnings prospects. “We have seen a weakness in trading activities in Q4 FY21 and it may spill over into Q1 FY22 due to volatility caused by US Fed’s hawkish stance and geopolitical issues.
Source: News Formal (newsformal.com)
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