Market sentiment will likely remain positive on the local front, as investors are brushing off concerns over the Fed’s monetary policies and Russia-Ukraine conflicts while focusing on economic growth at least for the near term, Malacca Securities said in a note.
Besides, it said that the declining trend noticed in new Covid-19 cases may bode for the recovery theme. Commodities-wise, the crude oil price is trading around the USD115 per barrel mark, while the CPO hovered around RM6,000.
On the local front, the stockbroking firm said that the technology sector will continue to trend higher following the overnight gains in Nasdaq. Meanwhile, it said that it remained optimistic on the plantation stocks given the elevated CPO price.
“We expect airport and aviation sector may stay positive bias following the reopening of travel borders, while the construction sector might be favourable ahead of anticipated GE15 going forward.
