Sunway Construction Group Bhd (SUNCON) is regarded as Malaysia’s largest pure play construction company listed on Bursa Malaysia. The group is capable of delivering integrated construction services works, having delivered various private and public infrastructures and building works over the past 40 years.

The FBM KLCI slipped deeper into the negative territory throughout the session amid renewed selling pressure. However, following yesterday’s broad-based selldown we believe the bargain hunting activities are likely to emerge, in view of the upbeat cue from Wall Street overnight after the Fed Chair Jerome Powell indicated that the inflation could be subsiding.

Samaiden Group Bhd (SAMAIDEN) engages as a total solutions provider for the renewable energy and environment sectors in the Asia region. To-date, SAMAIDEN has completed more than 200 projects with total installed capacity of 300MWp including large scale solar (LSS) farms and both residential and commercial projects.

The FBM KLCI eked out small gains on the back of final hour buying interest. However, the global sentiment remained uncertain in view of the Nasdaq-led decline on Wall Street following the robust January employment figures which has raised concerns over potential more hawkish tone from the US Fed. Meanwhile, on the local front, investors could be focusing on the upcoming earning season and the re-tabling of Budget 2023 on the 24th of February.

The FBM KLCI rebounded as the market sentiment was buoyed by the upbeat performances on Wall Street overnight following the less hawkish tone on the interest rate direction from the Fed as the CPI numbers in the recent months have been declining. Given Wall Street is in a relief rally environment, we believe the global sentiment may turn positive and buying interest may spillover to the stocks on the local front. In the meantime, we believe investors will be positioning themselves for the upcoming reporting season as well as the re-tabling of Budget 2023 on 24th of Feb.

HSS Engineers Bhd (HSSEB) is principally involved in the provision of engineering and project management services including design, construction supervision, project management, environmental services and building information modelling services. HSSEB is regarded as one of the leading engineering consultancy groups in Malaysia, involved in major notable large-scale projects.

The FBM KLCI took a breather before heading into the Federal Territory Day holiday as investors stayed cautious prior to the US Fed’s FOMC meeting. Meanwhile, the quarter-point rate hike from the Fed is within the market’s expectation and it has reversed the negative mood on Wall Street to close in the positive zone; this might be suggesting that the market has priced in the interest rate impact and acknowledging that the inflationary pressure has been easing. Hence, we believe the positive sentiment on both Wall Street and the regional markets will spill over to the local bourse.

Despite the buying support within the banking heavyweights, the FBM KLCI continues to end marginally below the key 1,500 level. However, we noticed the FBM Small Cap index has been trending positively over the past weeks; supported by the broad market recovery after the reopening of China’s border theme. Nevertheless, global equities may endure a shaky week as investors turn cautious ahead of the FOMC meeting and a series of economic data in the US.