Mild breather after a significant rally

The FBM KLCI further consolidated with more profit taking off the tables as 60% of
the index heavyweights closed lower in line with the regional sentiment. Meanwhile,
Wall Street inched lower for the session as the holiday shopping season kicked in
and retailers could be focusing on Cyber Monday deals. In the US, investors will be
focusing on the core PCE and ISM Manufacturing PMI data that will be later this
week. Meanwhile, we expect mild profit taking activities to emerge on our local front,
while focusing on the overall earnings season. On the commodity markets, the Brent
oil prices traded near USD80/bbl with the anticipation that further production cuts
may be seen in the OPEC+ meeting on 30th Nov.

Sector focus: We believe there might be further profit taking activities across the
board for the session. On the sectorial wise, we believe the market could be avoiding
the O&G sector amid consolidating oil prices. Meanwhile, we expect some rebound
in the Plantation sector amid stronger earnings from INNO, WTK. Also, the
Packaging and Cyber Security-related sectors may see some potential trading
interest picking up following the release of results from L&P Berhad and SMETRIC.

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