Maybank IBG 'Regional Trader's Almanac' 25 Apr 2022 ASEAN Equ | Info Pelaburan Saham - Maybank Investment Bank Ipoh

Maybank IBG "Regional Trader's Almanac" 25 Apr 2022

ASEAN Equities: New Higher Low Structure in Place

https://mkefactsettd.maybank-ke.com/PDFS/259264.pdf

A reversal signal of the “engulfing” pattern appeared within the 72% AWJ line…

The FTSE ASEAN 40 Index has traded lower and tested the immediate support zones between 10,470 and 10,540 last week. The selling pressure was halted mid-week in line with our expectation as the index formed a reversal pattern of engulfing and bounced off to challenge the 50-day EMA line and the immediate resistance at 10,970. However, the recovery move lacks enough firepower as we expect the index to form a new base and a higher low structure before eventually re-challenging the upper resistance ahead.

Against the backdrop of a rising interest rate environment and a stronger dollar, we highlight attractive stocks that could benefit from thematic plays across the ASEAN region.

MALAYSIA – PETRONAS Chemicals & Hong Leong Bank
INDONESIA – PT Timah & Gozco Plantation
PHILIPPINES – Aboitiz Equity Ventures & BDO Unibank
SINGAPORE – DBS Group Holdings & Overseas China Bank
THAILAND – Central Retail & Plan B Media
VIETNAM – Mobile World Investment & Hoa Phat Group