Investors To Focus On Beaten Down Stocks in 2022: Malacca Securities

Malacca Securities Sdn Bhd expects moving into 2022, investors to focus on beaten-down stocks in 2021 as well as recovery themes amid recovering footfall in malls and improving consumer spending.

It said that the technology sector may trend higher in tandem with global technology counters on the back of firm earning visibility.

Reviewing the performance of the stock market, it said that the last trading day of 2021 bargain hunting activities mainly in banking and telecommunication heavyweights picked up in the final trading hour.

Following a volatile year of trading, it said that the local bourse may stage for a recovery moving forward with recovery-themed sectors being the main focus. However, sentiment may still be dampened by the surging Omicron variant cases around the world.

Nevertheless, the stockbroking house said that the market players might cheer on the return of the share trading stamp duty capping at RM1,000 starting today. “On the commodities market, the CPO price is hovering near the RM4,700 level, while the crude oil price declined but remained firm above the USD77 per barrel mark,” the stockbroking house said.

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