Matrix Concepts Holdings Bhd (MATRIX) is regarded as one of the leading property developers in Malaysia with exposure in the construction, hospitality and education business segments. Their flagship project is at Negeri Sembilan and has built its presence in Johor, Klang Valley as well as overseas in Australia.

The FBM KLCI marked its 7-day losing streak amid mounting concerns over geopolitical tension, as well as ongoing worries on the anticipated rate hikes in the upcoming FOMC meeting. We believe the downward move on the local front may persist, given Wall Street finished another session in the red. However, we expect investors to pick up significantly bashed down companies with solid fundamentals ahead of the earnings season.

The FBM KLCI slumped in line with the weaker performance across regional bourses as investors were trading cautiously ahead of the FOMC meeting, where the officials will discuss about the monetary policies such interest rate direction moving forward. Nevertheless, following the V-shape rebound on Wall Street as most of the stocks were significantly oversold, we expect bargain hunting activities to emerge on the local bourse today, especially within the technology sector.

Able Global Bhd (ABLEGLOB) is regarded as one of the leading local tin can manufacturing players and a reputable manufacturer of sweetened condensed and evaporated milk as well as a one stop solution center for packing of Milk powder/ Infant Formula.

The FBM KLCI ended marginally lower on Friday as the negative sentiment persisted throughout the week, in line with the regional downtrend movements. With Nasdaq being pressured in the recent sessions into the oversold region, we believe investors cherry pick selected big technology names in the local front for short term bargain hunting activities. Meanwhile, the upcoming FOMC meeting on Wednesday will be a crucial for investors to judge the speed of rate hikes going forward.

HPMT Holdings Bhd is one of the leading high performances cutting tools manufacturer in South East Asia, supported by distributors spread across more than 30 countries.

The FBM KLCI declined for another session amidst mixed regional markets as banking heavyweights fell after BNM kept its OPR unchanged. Tracking the weakness from Wall Street overnight, we believe investors may still be jittery in the anticipation of an interest rate hike environment as well as the still-spiking Covid-19 cases. Hence, the negative sentiment may spillover to stocks on the local front and profit taking activities on the technology counters may emerge.

Recall that Econpile through a 40:60 joint venture ratio with CCCC has bagged the contract valued at RM389.1m in December 2016. The overall duration of the contract was 17 months and we gather that Econpile’s scope of works valued at RM158.3m has already been completed. Therefore, we believe that there would be no operational impact towards Econpile and bulk of the contract value has already been recognised in prior years.