Kenanga Research is projecting calendar year 2023 (CY2023) FBM KLCI earnings to contract by 1.2% (from +10.5%), and has lowered its end-2023 KLCI target to 1,480 points (from 1,610 points).

Kenanga Research projects CY2023 FBM KLCI earnings to contract by 1.2%

RHB Research, which maintained its "overweight" rating for the automotive sector, named Bermaz Auto Bhd and UMW Holdings Bhd as its top picks, with UMW clearly benefiting from strong demand for Toyota and Perodua vehicles.

RHB stays ‘overweight’ on auto sector, names Bermaz Auto and UMW as top picks

Kenanga Research, which has maintained its "neutral" rating for plantation stocks, recommended Kuala Lumpur Kepong Bhd (KLK), TSH Resources Bhd, Hap Seng Plantations Holdings Bhd and PPB Group Bhd for investors seeking defensive long-term exposure.

KLK, PPB, Hap Seng Plantations among defensive plantation stocks, says Kenanga

Analysts are maintaining a positive outlook on the banking sector, as loan applications and uptake in fixed deposits (FDs) registered growth, coupled with an improvement in net credit cost and non-interest income during the first quarter of 2023.

This was despite a moderation in loan growth and current accounts and savings accounts (Casa).

Maybank IB, MIDF remain positive on banking sector as loan applications, fixed deposits rise

MIDF Research remains bullish on Malaysia’s consumer sector, premised on a stable labour market that supports domestic consumption, high tourist movement, better margins for food and beverage producers, and a stronger ringgit outlook.

MIDF Research remains bullish on consumer sector

RHB Research has reiterated its “neutral” rating of the transportation sector, and said the worst is over for the aviation sector, but added that declining freight demand and rates serve as a hiccup logistics players have to weather.

In a note on Thursday (April 27), RHB Research analyst Alexander Chia said as the aviation sector had shown signs of promising recovery and government support, the research house upgraded Malaysia Airports Holdings Bhd (MAHB) to “buy” from “neutral”.

RHB keeps neutral on transportation sector, favours Tasco and MAHB

CGS-CIMB Securities said the FBM KLCI's performance tends to be positive in April, with an average month-on-month (m-o-m) return of 0.9% over the past 10 years, and 2.1% m-o-m over 45 years.

CGS-CIMB: KLCI performance tends to be positive in April, with average month-on-month return of 0.9% over 10 years

Kenanga Research has maintained its "overweight" call on telecommunications services, as it has evolved into a basic and yet vital necessity of modern life, underpinning the earnings resilience of players in the sector.

The research house said that the government’s commitment to bridging the digital divide and pushing Industrial Revolution 4.0 will further boost investment and demand for telecommunications services with wider coverage, better affordability and faster speeds, which are set to boost subscriptions and average revenue per user.

Kenanga Research maintains 'overweight' on telco sector

RHB Research has maintained its “overweight” rating of the property and real estate sector, naming IOI Properties Group Bhd and Matrix Concepts Holdings Bhd as its top picks.

In a research note on Wednesday (April 5), analyst Loong Kok Wen said that she still sees value in the property sector, despite the recent volatility in the equity market.

RHB Research stays ‘overweight’ on property and real estate sector, sees value despite market volatility

Analysts maintained their “overweight” outlook on the banking sector, after loan growth in February 2023 edged up slightly to 5.2% year-on-year (y-o-y), from 4.9% in the previous month.

CGS-CIMB Research analyst Winson Ng in a note on Monday (April 3) said that the marginal pickup in loan growth in February was slightly better than his expectation of a deceleration.

Analysts stay overweight on banking sector after higher loan growth in February

Kenanga Research has maintained its "overweight" rating of the building materials and construction sectors, naming OM Holdings Ltd, Engtex Group Bhd, Gamuda Bhd and Sunway Construction Group Bhd as its top picks. 

In the building materials sector, the research house observed a positive outlook for non-ferrous metals due to lingering global supply constraints and increased demand stemming from China’s reopening.

Kenanga keeps ‘overweight’ on building materials, construction sectors

Kenanga Investment Bank Research has maintained its end-calendar year 2023 (CY2023) FBM KLCI target of 1,610 points, and said the market in the second quarter of CY2023 (2QCY2023) will continue to be beset by a lack of conviction, both to buy and, to a certain extent, to sell, similar to what happened during the greater part of 1QCY2023.

Market in 2QCY2023 will continue to be beset by lack of conviction, says Kenanga

Malaysian real estate investment trusts (REITs) remain as safe-haven investments for investors amid market uncertainty, owning to growing contagion fears with the collapse of Silicon Valley Bank and the fallout of Credit Suisse Group AG.

Malaysian REITs remain a safe haven amid market volatility, says MIDF Research

RHB Investment Bank Bhd has maintained it “neutral” stance on the telecommunications (telco) sector, naming Telekom Malaysia Bhd (TM) and OCK Group Bhd as its top picks. 

The research house has “buy” calls for both stocks, with a target price of RM6.20 for TM, and 60 sen for OCK, according to a note it released on Tuesday (March 21).

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