The FBM KLCI fell, bucking the positive performance across the regional bourses as investors’ risk appetite waned ahead of the US Fed’s interest rate decision. The local bourse may set for further profit taking as investors may brace for potential interest rate hike by the BNM. Meanwhile, Finance Minister commented that there will be possible adjustments for the Budget 2023 when it is re-tabled.

Moving forward, ECONBHD's outstanding orderbook stood at approximately RM450.0m; represents an unbilled orderbook-to-cover ratio at 1.2x against FY22 revenue of RM373.4m will provide earnings visibility over the next 18 months. Meanwhile, tenderbook remains relatively stable at approximately RM400.0m.

The FBM KLCI ended positively in tandem with the regional markets, thanks to the telecommunication sector as well as the plantation heavyweights. However, the profit taking activities on Wall Street after a significant rally may cap the upside potential on the local front. We expect the investors may take a cautious stance ahead of the important FOMC meeting that will conclude on the 2-Nov (US time). Meanwhile, traders may focus on GE15 theme and position within GLC-linked companies.

Harbour-Link Group Bhd (HARBOUR) history traces back since 1975 in the shipping industry and now has grown into an integrated logistics services provider, shipping and engages in construction works, heavy lifting and haulage as well as property development. HARBOUR owns a total of 12 container vessels with a total capacity of 6,100 twenty-foot equivalent units (TEUs).

The FBM KLCI slipped on Friday as profit-taking activities within selected banking and energy heavyweights on the key index pulled the index lower. While Wall Street staged a massive comeback on Friday, investors may continue to monitor a series of event this week including the interest rate decision by the US Feds and Bank of England to gauge economic outlook and market directions going forward.

The FBM KLCI retreated as profit-taking activities emerged amid mixed regional performances led by plantation heavyweights. Given the mixed sentiment on Wall Street following the selldown in tech giants in the US, coupled with the interest rate hike by the European Central Bank, we believe the negative sentiment may spillover to the local front and the FBM KLCI could have limited upside potential for the near term.

The FBM KLCI rallied higher in tandem with most of the regional markets as telecommunications, plantation, and healthcare heavyweights in focus. As the Wall Street hit the resistance and took a breather after the significant rebound over the past two weeks after investors digested weaker earnings from big technology giants, we expect the negative sentiment may spill over to the regional and local bourses.

Kein Hing International Bhd (KEINHIN) was established since 1981 and engaged in the supply of parts and metal components to various industries such as automotive, electrical & electronics, home appliances and audio-visual equipment industries. Since 2006, KEINHIN manufacture and sale of consumer products namely gas appliances under its own brand name “ZENNE”.