All attention will be on Prime Minister Datuk Seri Najib Tun Razak’s announcement on a new Cabinet line-up at 3pm on April 9.
Najib is scheduled to have an audience with the Yang di-Pertuan Agong at 11am to seek consent on the line-up before he announces the line-up. Sources expect some changes to the Cabinet line-up.
As for Bursa, plantations would continue to attract attention with crude palm oil for third-month delivery above the RM2,000 level, closing at RM2,165 the previous day.
AmResearch recommends investors “Overweight” the plantation sector as supply of vegetable oils is expected to remain tight. A weak US dollar would also help prop up CPO prices.
Its picks in the sector are Kuala Lumpur Kepong and IOI Corporation. Among smaller companies, it had “Buy” calls on Asiatic Development and IJM Plantations.
Other stocks which would continue to attract heavy interest are Maybank-OR and also Axiata, which went ex on April 8. The selling pressure on Maybank-OR has abated.
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