The FBM KLCI slid lower for the session dragged by Gaming heavyweights.
Meanwhile, the US stock markets ended on a negative tone as the market is taking
a cautious stance for the near term ahead of several economic data to gauge the
Fed’s easing cycle going forward; this week data include (i) US GDP (Wed), (ii) Core
PCE (Thu), (iii) unemployment claims (Thu) and (iv) US Manufacturing PMI (Fri).
Meanwhile, we expect buying support to return on the local front after several
consolidation days as corporate earnings will be focused. On the commodity market,
the Brent oil price hovered around USD80-83/bbl as concerns over the Red Sea
persisted.

Sectors focus: YTL related companies could remain in focus as they are deemed
cheap in terms based on forward valuations. Meanwhile, we like the Technology
sector with the release of stronger results from D&O amid stronger demand from the
automotive segment. Also, a strong set of results from PPHB could provide an
upside opportunity for the Packaging industry. Still, we favour the Consumer and
O&G sectors as ABLEGLOB, LAYHONG and DELEUM recorded solid growth this
quarter.