KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Profit Miss Sparks Downgrades
Poh Huat Resources Holdings Bhd (KL:POHUAT) saw its stock tumble on Friday after reporting quarterly results that fell short of market expectations.
Net profit for the nine months ended July 31 came in at just about half of analysts’ full-year forecasts. The shortfall prompted TA Securities to downgrade the counter to sell, while Public Investment Bank ceased coverage altogether.
Tariff Pressures Weigh on Outlook
The weaker performance comes amid uncertainty in the US furniture market, Poh Huat’s key export destination. Analysts flagged the ongoing US government investigation into furniture imports, which could worsen existing reciprocal tariffs already affecting demand.
“Furniture exports to the US are already under tariff pressure, and demand is expected to stay subdued,” TA Securities said.
Stock Performance
Shares of Poh Huat fell as much as 6% to 94 sen, giving the company a market value of RM262 million. The stock has now lost nearly 25% of its value in 2025.
Sector Challenges
Like its peers, the Johor-based furniture maker is battling the impact of a weaker US dollar, which erodes export receipts. Public Investment noted that Poh Huat’s customers are likely to stay in a wait-and-see mode given uncertainties in the US housing market and trade policies.
Bleak Near-Term Prospects
In its final note, Public Investment flagged inflationary pressures and rising costs as additional headwinds, citing diminished investor interest and the lack of re-rating catalysts.
For its part, Poh Huat warned of a tough operating environment after posting its lowest quarterly profit in nearly four years. The company highlighted that the US probe into furniture imports makes future planning difficult, while cost pressures add to the challenges ahead.
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