CTOS Digital Bhd (CTOS) engaged in the business of credit reporting, digital software related services, software development, outsourcing and training services. Their solutions and services are widely used by Malaysia’s banking and financial institutions, insurance and telecommunication companies, large corporations, SMEs as well as consumers for self-checking.

The FBM KLCI slipped after four straight session gains as investors braced for a possible US interest rate hike. Also, as the 2Q22 US GDP data will be released on the 28th of July, investors should prepare for more volatility over the near term, as recession fears may return as the US economy contracted in 1Q. Hence, stocks with defensive characteristics may be in focus.

The FBM KLCI outperformed the regional peers as the key index gained momentum in the final trading hour, supported by influx of foreign funds. Although the market sentiment has been improving over the past few sessions, we reckon that the investors may remain cautious ahead of the US Fed’s interest rate decision and could take a breather in view of the mixed performances on Wall Street overnight.

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. Throughout the year, HARBOUR has established a solid footprint extends across the Intra-Asia region.

The FBM KLCI ended on a positive note last Friday amid the return of foreign funds which noted gains accelerated on the banking heavyweights. However, we believe the key index may succumb to mild profit taking activities following the overnight pullback on Wall Street. Nevertheless, the broader market may stay positive-bias over the near term as it has dropped significantly lower over the past 2 weeks into the oversold region. This week, investors will be watching closely on the US Fed’s interest rate decision.

Moving forward, we do not foresee a rapid growth in occupancy rates due to lingering effect from the Covid-19 pandemic as well as the inflationary pressures on the global economy which may risk on economic recovery. Rental rates are also expected to remain flat upon renewal of tenancies. Nevertheless, we are positive on UOAR’s outlook over longer term as rental activities are appeared to be on the road of recovery amid reopening of economic activities and national borders.

The FBM KLCI propelled on the back of selected banking and industrial products & services heavyweights amid broad-based bargain hunting activities. The uptrend moves on Wall Street overnight signalled that the buying support on the local bourse should remain intact.

The FBM KLCI climbed in line with the broadly positive sentiment from the regional markets. Investors should see a positive-bias trading tone on the local bourse following the extension of rebound on Wall Street, supported by bargain hunting activities on significantly oversold stocks over the past few weeks.