The plantation sector may remain upbeat, taking a cue from the elevated CPO prices and ahead of the upcoming release of quarterly earnings, Malacca Securities said in a note
It said that recovery theme stocks may also continue to be boosted ahead of the release of 4Q21 GDP data. Meanwhile, the energy sector may experience some profit taking as crude oil prices enter a consolidation phase.
The stockbroking firm said that after delivering 2 days of sturdy performances, investors’ attention now has shifted towards the upcoming release of 4Q21 GDP data later today to assess the pace of economic recovery.
Amid the renewed volatility on Wall Street overnight, Malacca Securities said that it reckons that profit-taking activities may take shape amid the mounting concerns over the pace of interest rate hikes for the US in 2022.
It said that the lower liners are also turning choppier after enjoying a decent run since end-January 2022 as signs of profit-taking activities are emerging.
