Bursa Malaysia Bhd is expected to double its net profit to over RM30mil in the second quarter from RM15.5mil in the first quarter, given the strong market trading activities in the past few months, analysts say.
The anticipated strong second-quarter performance has prompted analysts to lift their earnings forecasts for the local stock exchange operator for this year and beyond.
Bursa Malaysia is scheduled to release its financial results for the second quarter ended June 30 on Monday.
HwangDBS Vickers Research said the daily trading volume and value on the local bourse in the second quarter soared to 1.63 billion shares and RM1.49bil respectively.
In the first quarter, the average daily trading volume was 410 million shares worth RM620mil.
In addition, the average daily volume for derivatives surged 23% quarter-on-quarter and 40% year-on-year, driven by the uptrend in the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) and higher crude palm oil prices.
“As such, we expect Bursa to register a net profit of RM30mil to RM35mil in the second quarter compared with RM15.5mil in the first quarter and RM13.5mil in the fourth quarter 2008,” the brokerage said in a research note.
The renewed bullish sentiment on Bursa in the past several days was in tandem with gains in regional bourses following positive indications from the United States and major Asian economies.
Bursa-cl (call warrants) looks attractive to me. Bursa's profit is surely going to go up and its operation costs will be more or less the same. This will provide investors with higher net profit and ROI.
Bursa-cl (call warrants) looks attractive to me.
Enjoy your trading.
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