Stock Digest - Hartalega Holdings Bhd - Weaker Sales Continue To Drag Performance

We gather that blended ASP only fell -1.7% QoQ in 2QFY23. The slower magnitude of price. normalisation suggest that ASP may have bottomed. Moving forward, we expect ASP to trade around current levels, before demonstrating mild signs of revival towards mid-to-end 2023, following China’s reopening of economy and purchasers’ inventory levels from previous stockpiling activities dialed down.