The FBM KLCI closed marginally lower, taking cue from the mixed regional markets amid anxiety over energy crisis in Europe as well as ongoing China’s lockdown to curb Covid-19 spread under the “zero-Covid” policy. Moving forward, we opine that the global markets should stay in a consolidation mode, at least until the next CPI data, while the local bourse may turn their focus to the energy sector as OPEC decided to trim production for October 2022, which has driven the Brent oil price slightly above USD95 per barrel.

Alliance Bank Malaysia Bhd (ABMB) is regarded as a dynamic, integrated financial services group offering banking and financial services through its consumer banking, SME banking, corporate and commercial banking, Islamic banking, investment banking, and stockbroking businesses.

The FBM KLCI ended marginally lower on Friday amid mixed regional markets. The local bourse could remain wobbly over the near term as market selloff intensified on Wall Street, while the crude oil price remained under pressure. Meanwhile, investors may keep an eye on the European Central Bank’s and BNM’s interest rate decisions which will be releasing this week.

The FBM KLCI violated the 1,500 psychological level as profit-taking emerged amid a persistent downtrend on Wall Street. We believe the uncertainties on the global front, coupled with the falling commodity prices will continue to weigh on investors’ sentiment over the near term. Despite the Dow Jones has turned mildly higher, we expect bargain hunting activities may only emerge on counters with defensive nature and solid earnings that were released recently.

As Covid-19 becomes endemic, all the countries that LHI operates in have seen revenue growth in 6M22 as compared to 6M21 due to improved demand amid resumption of economic activities. Nevertheless, high feed costs and the attempts by governments to manage food inflation via price control scheme may continue to create uncertainties for the group’s performance moving forward.

Solarvest Holdings Bhd (SLVEST) is regarded as one of the leading solar turnkey engineering, procurement, construction and commissioning (EPCC) service provider with established track record in Large Scale Solar (LSS) Photovoltaic, residential, commercial and industrial properties projects. To-date, SLVEST has developed over 250.0MW of large-scale solar projects in Malaysia.

The FBM KLCI extended its winning streak, bucking the negative performance on Wall Street. While the key index managed to trade positively against the global stock markets, investors should remain cautious with the ongoing increased volatility environment attributed to the hawkish tone by the Fed; we expect the noise to continue until the next CPI data release and FOMC meeting.

As at end-2QFY22, OCK owns and manages over 4,800 telco sites (3,000 sites in Vietnam, 1,200 sites in Myanmar and 600 sites in Malaysia) that will provide stream of recurring income over the long term. We note that towerco expansion is largely on track with OCK aims to register more than 5,000 telco sites (targeting 3,200 sites in Vietnam, 1,300 sites in Myanmar and 800 sites in Malaysia) by end-2022.