The FBM KLCI retreated amid worries over China’s economic slowdown, which led to an unexpected lending rate cut. While the market may trade in a positive-biased mode and looking forward to a brighter outlook in the ongoing earnings season, China’s economic slowdown may indicate risk and a spike in recession fears.

Computer Forms (M) Bhd (CFM) engages in the printing and distributing of computer forms, stock forms and specialised forms. Several products services offered by CFM include preprinted business forms, personalised cheque books, special printed cheques, land titles, vouchers and other commercial security items and data print services.

The FBM KLCI eked out marginal gains amidst the positive-biased regional market. Also, Wall Street ended positively with the easing inflation expectations, coupled with the stronger-than expected consumer sentiment should see buying interest spilling over to our stock markets. Given the key index is staying above the 1,500 level, the local bourse may see more upward movement driven by optimism ahead of the upcoming reporting season, in view of the better-than expected Malaysia GDP data.

The FBM KLCI climbed above the psychological 1,500 level amid positive regional market sentiment as investors cheered that the inflation is cooling off in the US for June. Whilst the market has stabilised along 1,500, we believe the profit taking activities may pick up with the mixed trading tone on Wall Street overnight, following a drop in PPI data. Hence, broader market may take a breather for the short term; especially the technology sector.

The FBM KLCI slipped as investors dumped selected glove, technology, and banking stocks prior to the released of the US CPI data. With the CPI numbers came in below the consensus figure, we believe the positive sentiment from Wall Street may spillover to the local front, especially within the technology sector. Investors should expect a lower scale of interest rate hikes moving forward from the Feds. Hence, it provides a decent window of opportunity to at least trade until the next CPI which will be in 13th September.

The FBM KLCI booked marginal gains amid lacklustre trading as cautious undertone remained in place ahead of the US inflation data that will be released later tonight. With the Wall Street overnight ended negative, we opine that the investors may stay sidelines for the session. Upside potential might be capped by the elevating global risks such as China-Taiwan tension and heightened inflationary pressures environment. However, traders are likely to position themselves selectively ahead of the August reporting month as foreign buying remains positive over the past few days.

Blended ASP continues to decline, falling -12.6% QoQ. Moving forward, we were guided the stiff competition that resulted in the oversupply condition and inventories from previous stockpiling activities have yet to tapered. Thus, we expect this would continue to depress ASP, and we expect prices to remain soft throughout FY23f.

Kerjaya Prospek Group Bhd (KERJAYA) is regarded as one of Malaysia’s leading construction players, involving in the construction of high-end commercial and high-rise residential buildings, property development and manufacturing of lighting and kitchen solutions. Notable completed projects include St. Mary Residences, The Shore Mixed Commercial Development, EcoSky Condominum and Vista Residences.