KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
A sharp earnings miss and persistent demand weakness have cast a long shadow over Amway Malaysia Holdings Bhd, with analysts turning increasingly cautious as structural headwinds mount. Earnings Disappointment Raises Red Flags Amway Malaysia’s latest quarterly report delivered a stark message to the market: profitability remains under pressure. For the first half of FY2025, the company reported net income amounting to less than 28% of full-year consensus estimates , missing expectations and prompting two out of three analysts to downgrade the stock to a sell rating. This marks a continuation of its earnings slide, with Q2 FY2025 becoming the 10th consecutive quarter of year-on-year revenue contraction — a clear sign that the company is still grappling with demand erosion. “Sales will likely stay muted due to weak consumer sentiment, especially for premium direct-selling products,” said BIMB Securities, maintaining its bearish stance. ...