Signature International Bhd (SIGN) started off since 1994 and offers impressive series of kitchen cabinet and wardrobe designs by specialized kitchen designers. The group offers end-to-end solutions from 3D design proposals to renovation and installation, from interior design services to interior fittings, and from custom built-in furniture to home appliances.

The FBM KLCI advanced as investors were on a bargain hunting mode in view of the calmer sentiment on the regional markets. Meanwhile, Wall Street climbed overnight on fading fears following Treasury Secretary Janet Yellen’s reassurance to avert further banking crises. The US Fed’s interest rate decision tonight will take the center stage and investors should remain cautious ahead of the conclusion of the meeting as aggressive rate hike or hawkish tone from the Fed is likely to hammer investors’ sentiment further.

The FBM KLCI witnessed an intense selloff along with the regional peers as investors remained cautious over the banking turmoil in the US and Switzerland. However, we saw the sentiment improved on Wall Street following the rescue deal for Credit Suisse, while investors may shift their focus to the US Fed’s interest rate decision tomorrow (US time). We believe the local bourse will remain sideways until more clues are given after the conclusion of the FOMC meeting.

Poh Kong Holdings Bhd is regarded as one of the largest distributor and supplier of jewelry, precious stones, semi-precious stones and gold ornament in Malaysia. Apart from being appointed as a sole distributor for international jewellery brands such as Schoeffel, Luca Carati and Moraglione 1922, POH KONG also develop their in-house brands such as Tranz, Happy Love, Anggun and The Art of Auspicious Jewellery.

The FBM KLCI bounced higher along with the regional markets amid a relief rally in view of a rescue plan for the US banking sector. Although the volatility may persist on the local bourse following Wall Street’s retreat amid lingering concern over the US banking turmoil and Credit Suisse crises, we expect the market to stay calmer as UBS announced to take over Credit Suisse just this morning. Meanwhile, traders will monitor on the US Federal Reserve interest rate decision this week.

Slow recovery of occupancy rate. With the overall occupancy rate of purpose-built office space in KL City improved slightly to record at 67.5% during 2H22 (1H22: 67.2%) (Knight Frank), the office rental market may begin to experience some stability moving into FY23. However, UOAR may see slow and gradual improvement in rental activities towards pre-pandemic level as market is likely to remain cautious amid challenging operating environments.

Resurfaced fears over global banking crisis has once again sent the FBM KLCI below the key 1,400 mark, but we expect a broad-based rebound on the local bourse amid increased optimism on Wall Street over banking industry following a joint rescue on First Republic by several big US banks. Nevertheless, the rebound could be short-lived as investors are likely to trade in a cautious mode while keeping an eye on the US Fed’s interest rate decision next week.

The FBM KLCI bounced higher to close above the key 1,400 level as investors picked up beaten down stocks on the broader market. However, global uncertainties may not abate with the Wall Street turning mixed once again on the back of revived fears of a banking crisis; Credit Suisse is making the headlines after Saudi National Bank mentioned it will not provide further financial help for the bank. Thus, the local bourse may trade in consolidation mode prior to the US interest rate decision next week. Commodities wise, the Brent crude oil fell steeply below the USD75 zone, while the CPO price declined below the RM3,900 level.