Axiata Group and Malayan Banking suffered losses, as did Malayan Banking, RHB Bank and Astro Malaysia Holdings, according to a Nikkei Asian Review (NAR) report.
The FTSE Bursa Malaysia KLCI fell 0.1 per cent to 1,680.30 points.
Nine of the 30 constituents ended lower Thursday and five closed unchanged, while overall declining issues outnumbered advancing ones 523 to 297.
Axiata declined 3.2 per cent to RM5.49, its worst single-day percentage decline in four-months, said the NAR report.
The mobile operator reported its second quarter net profit slumped by 69 per cent, weighed by costs related to acquisition of Nepal’s Ncell and higher depreciation and amortisation charges.
Earlier this week, the NAR report said, the company’s Indonesian unit reported earnings that were well below market expectations.
Malayan Banking, which fell 1.1 per cent to RM7.90, said its second quarter net income, hurt by allowances for impairments losses, fell 26 per cent on year.
RHB Bank declined 0.2 per cent to RM4.98. Its second quarter net profit, reported Wednesday, fell 36 per cent on account of impairments to its corporate bond portfolio.
Astro Malaysia fell 0.7 per cent to RM2.90. The stock was up by 2 per cent this week till Wednesday.
Hong Leong Financial Group declined 1 per cent to RM15.94 ringgit.
The NAR report said global equity markets have had a quiet week ahead of Yellen’s speech today as investors seek clarity on the possibility and timing of a rate hike by the US central bank.
“We expect ongoing consolidation mode to prevail ahead of Yellen’s speech as investors remain in a wait-and-see mode,” NAR quoted Sia Ket Ee, an analyst at Hong Leong Investment Bank as saying.
Sia added that on the domestic front, the focus would remain on earnings, noting near-term supports for KLCI at 1,675 and resistance at 1,700.
If Yellen indicates the possibility of a rate hike next month, global equities and emerging market currencies could witness a sharp selloff, according to the NAR report.
The ringgit edged higher by 0.5 per cent to 4.0150.