The FBM KLCI is attempting to find stability over the near term, ahead of the official GE15 date being announced. Meanwhile, China unexpectedly delayed the release of 3Q22 GDP that is scheduled today, may imply that the data might not meet market expectations of +3.4% YoY. Back home, we reckon that the rebound on Wall Street may see buying interest spilling over on beaten down or oversold stocks over the near term. Still, the weakening trading liquidity and the persistent selling from foreign funds (net sell RM870.1m month-to-date) will keep bigger strides of gains at bay.

Sunview Group Bhd is a local solar energy services provider that has completed 98 EPCC of rooftop solar PV facility projects and the provision of construction and installation for 6 LSS PV plants as a subcontractor. Sunview is valued by pegging its FY24f core EPS of 4.8 sen to P/E of 13.0x, leading to a FV of RM0.63.

Samaiden Group Bhd (SAMAIDEN) engages as a total solutions provider for the renewable energy and environment sectors in the Asia region.

The FBM KLCI staged a rebound on Friday following the positive cues from global markets. However, we opine that the rebound attempt may stall as Wall Street was hit by another wild swing on the back of rising inflation expectations suggested in University of Michigan consumer survey and potentially the rising concerns of the tightening monetary policies could push the US economy into a recession. Nevertheless, we still expect bargain hunting to emerge within the solid balance sheet companies and stable consumer stocks.

The FBM KLCI fell for another session as it struggled to find its footing amid broadbased selldown prior to the US CPI data. However, given the Wall Street rebounded strongly from its intraday low following the US CPI print, we believe the short-term bargain hunting activities may emerge on the local bourse and regional markets. Nevertheless, as we think the inflation remains high and still far from the 2% inflation target of the Fed, we opine that the rebound will be short-lived. Global investors should remain wary in anticipation of further interest rate hikes in the US.

The FBM KLCI remained lacklustre as the key index marked its fourth-session decline while the investors were looking around for fresh catalyst. As the final-hour selldown on Wall Street implied persisted concerns over the monthly US CPI data, we believe the global market may remain volatile in the near term. Meanwhile, on the local front, we believe traders are shifting their stance from growth to value stocks and we may expect some rebound in undervalued stocks with solid fundamentals.

The FBM KLCI closed near the 52-week low, taking cue from the negative regional markets on the back of persisted worries over impact of ongoing rate hikes as well as the dissolution of parliament effective on 10th of October. As the global investors remained cautious ahead of the US inflation data on the 13th of October, we reckon the local bourse will likely to stay negative bias at this juncture without any fresh catalysts.

Econframe Bhd (EFRAME) is regarded as a total door solution provide, specialising in the manufacturing and distribution of metal door frames and metal window frames that operates 2 factories with total built up of 17,400 sqf. Since incorporation in 2001, they have completed more than 100 types of products for more than 1,000 projects nationwide.