Maybank IBG 'Regional Trader's Almanac' 29 Aug 2022 ASEAN Equi | Info Pelaburan Saham - Maybank Investment Bank Ipoh

Maybank IBG "Regional Trader's Almanac" 29 Aug 2022
ASEAN Equities: Turning Defensive

The overall trend structure remains weak…

The FTSE ASEAN 40 Index indeed traded lower last week and tested the immediate support in the 9,840 regions. The subsequent rebound appeared to run out of momentum amid weaker price action last Friday. The index also failed to close above the middle Bollinger band in the weekly chart – suggesting the recent recovery was weak.

Given the weaker performance in US equities last Friday, there’s a decent chance for the index to trade lower, seeking to test the next support level sub-9,600 region ahead. As long as the immediate resistance zones between 10,180 and 10,420 are intact, the overall trend structure remains fragile.

This week, we highlight pairs of attractive stocks to buy/accumulate for each of the ASEAN countries.

MALAYSIA – Buy Ramssol Group & SenHeng New Retail
INDONESIA – Buy Bumi Resources Minerals & Surya Esa Perkasa
PHILIPPINES – Buy EEI Corporation & Ayala Land
SINGAPORE – Buy HrnetGroup & Nanofilm Technologies
THAILAND – Buy Synnex (Thailand) & Carabao Group
VIETNAM – Buy Vietnam Prosperity Bank & Nam Leong

For the full report, more stock ideas and market flows access Market Insight on Maybank Trade on Apple Store and Google Play.