Affin Hwang IB Daily Boost
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Affin Hwang Investment Bank Daily Insight
πŸ“† Tuesday, 21 May 2024

Top Call
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Other Calls
1) Results Note - Public Bank ( HOLD , maintain)
Prudently managing NIM; beefing up loanbooks

2) Result Note - KL Kepong ( HOLD , downgrade)
Weak 2QFY24 results, below expectation

3) Economic Update - Malaysia Economy - Trade
Export rebound strongly by 9.1% yoy in April

4) Retail Research- week in focus
- TMC Life Sciences Bhd ( Technical BUY)
- UMediC Group Bhd ( Technical BUY)

5) Morning News and Market Summary
Sunview collaborates with Yashil Energiya to explore RE projects in Uzbekistan

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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.
Overnight Global Futures Lead
πŸ“† 23 May 2024
Commentary
(1) FKLI
FKLI declines due to profit-taking from a three-year high. After the recent big gains, investors decided on Tuesday to take a break and lock in their profits.

(2) U.S. Stock Index Futures
US stocks dropped on Wednesday as traders reviewed the minutes from the most recent meeting of the Federal Reserve before the company's quarterly results from Nvidia, a maker of AI chips, were announced after the closing bell.

(3) FCPO
Following two trading days, FCPO closed down on Tuesday. CPO futures continued to face quick selling pressure due to higher production estimates compared to reduced exports. Although the palm industry's fundamentals remain poor production is anticipated to rise in the upcoming month.

(4) COMEX Gold
Gold prices fell more than 1% on Wednesday as traders withdrew their bets on the Federal Reserve's rate reduction this year, causing the gold surge to fade and investors to book profits.

(5) Crude Oil
On Wednesday, oil prices dropped for a third straight session as investors anticipated that the US Federal Reserve will maintain higher interest rates longer due to persistent inflation, which might have an effect on fuel use in the country that consumes the most oil worldwide.

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Affin Hwang Investment Bank Daily Insight
πŸ“† Thursday, 23 May 2024

Top Call
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Other Calls
1) Result Note : Kossan Rubber (BUY, maintain)
Stronger quarters ahead

2) Result Note – Sime Darby Property ( BUY, maintain)
Core profit doubles on solid industrial property performance

3) Result Note – Sunway Berhad ( BUY, maintain)
Within expectations; a decent start of the year

4) Result Note – Hartalega ( HOLD, maintain)
Sales volume to drive earnings recovery

5) Result Note – Petronas Dagangan ( HOLD, maintain)
1Q24 results within expectation

6) Result Note – Fiamma ( Cease coverage)
Results below expectations

7) Retail Research - ChartTrek
- OCK Group Bhd ( Technical BUY)
- Golden Pharos Bhd (Technical BUY)

8) Morning News and Market Summary
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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.Result Note – Sime Darby Property ( BUY, maintain)
Core profit doubles on solid industrial property performance
Overnight Global Futures Lead
πŸ“† 24 May 2024
Commentary
(1) FKLI
The FKLI soared to a record three-year high, propelled by significant buying demand and optimistic market confidence, as well as substantial increases in blue-chip stocks. Despite worries over US interest rates, the market remains optimistic.

(2) U.S. Stock Index Futures
Even though Nvidia's good sales projection drove its share price higher on Thursday, U.S. stocks closed the day lower. However, economic data revealed inflation remained a concern that might postpone any rate decreases by the Federal Reserve.

(3) FCPO
On Thursday, FCPO closed higher on expectations of a lower-than-expected increase in production. The preliminary poll indicates single-digit growth in production, contrary to the market's expectations of a double-digit increase. Concurrently, the Dalian commodities and CBOT soybean helped improve market sentiment.

(4) COMEX Gold
On Thursday, investors' concerns about the timing of a rate cut by the United States and the strength of U.S. economic activity caused gold to drop to a level below that of the previous week, continuing its downward trend for a third session.

(5) Crude Oil
The US Federal Reserve meeting minutes surfaced on Thursday, revealing talks about raising interest rates further if inflation stayed high. This could negatively impact the demand for oil and cause oil prices to decline for the fourth straight day.

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Affin Hwang Investment Bank Daily Insight
πŸ“† Friday, 24 May 2024

Top Call
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Other Calls
1) Result Note : Allianz (BUY, upgrade)
Robust quarter driven by impressive Life segment

2) Result Note – HSS Engineers ( BUY, maintain)
New projects to support revenue growth

3) Result Note – Inari Amerton ( BUY, maintain)
Margins remain under pressure

4) Result Note – KLCC ( BUY, maintain)
A decent start of the year

5) Result Note – Kelington ( BUY, maintain)
Strong 1Q24 sets tone for the year

6) Result Note – Malayan Cement ( BUY, maintain )
Earnings beat to continue driving optimism

7) Result Note – British American Tobacco ( SELL, maintain )
Losing market share in the shrinking combustible industry

8) Result Note – Samaiden Group ( BUY, maintain )
Delayed but not denied

9) Result Note – Sime Darby ( HOLD, upgrade )
Malaysia's strong earnings buffers against China's weak

10) Result Note – Uchi Technologies ( HOLD, maintain )
Seasonally weaker quarter

11) Result Note – Velesto Energy ( Buy, maintain )
1Q24 helped by improved day rates

12) Result Note – YTL Hospitality REIT ( Buy, maintain )
Distributable income missed the mark

13) Sector Update – Auto & Autoparts( UNDERWEIGHT, maintain )
Apr-24 TIV: sales vehicle stood at 257k units YTD24

14) Retail Research - ChartTrek
β€’ EITA Resources Bhd (Technical BUY)
β€’ RGB International Bhd (Technical BUY)

15) Morning News and Market Summary
β€’ Sime Darby Properties - Venturing into data centre leasing
β€’ Axis REIT proposed to acquire two properties in Selangor from Cycle Carriage Bintang for RM125m

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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.Result Note – Sime Darby Property ( BUY, maintain)
Core profit doubles on solid industrial property performance