Apex says the local market could stay in consolidation mode as investors digest the results from the earnings season and wait for fresh developments. Sentiment remains fragile amidst escalating geopolitical tension and extended outflow in foreign funds.
Following the closing of earnings season, investors will now turn their attention to Manufacturing PMI in Malaysia and US, set to be released later today, as well as US services PMI and jobs report expected later this week.
Plantation Sector
“We expect the Plantation sector to see renewed buying interest as worsening floods in the East Coast and low inventories are expected to lift CPO prices,” says the analyst firm.
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