The FBM KLCI added strength after a 4-day consolidation with the help of Utilities
heavyweights. Likely, the overall sentiment will remain positive, digesting the
improvements in latest quarterly results. On Wall Street, sentiment was mixed as US
Consumer Confidence retreated in Feb. Meanwhile, the traders will be focusing on
the upcoming Core PCE, unemployment claims and the US Manufacturing PMI as
these factors may dictate the Fed’s tone going forward. On the commodity market,
the Brent oil price slid after Joe Biden’s statement on a potential ceasefire
agreement between Israel and Hamas is in the works, but still ranging within USD81-
83/bbl, while the Gold prices have recovered gradually above the USD2030 zone.

Sectors focus: A general trend of gradual recovery was noticed within the metal
related stocks, such as PRESTAR, PA and SCGBHD, thus this may translate to higher
trading activities within the Building Material segment. Meanwhile, the Packaging
sector has seen improvements in BPPLAS and PPHB. Besides, selected Technology
stocks like DUFU and UNISEM have seen recovery and we reckon traders to pay
attention to the Technology sector.