Market Updates.

The aggregate reported earnings of FBM KLCI 30 constituents improved vis-à-vis the preceding quarter to RM15.3b in 4QCY21. It registered positive sequential growth at +1.9%qoq and on-year at +7.0%yoy. Within MIDFR Universe, 33% of stocks under coverage reported higher than expected earnings. Of the rest, 32% posted earnings that were lower than expected versus 35% which came within expectations.

Majority of equity markets worldwide turned mixed last week following the escalating Russian-Ukraine conflict, with Russia mobilising military force near Ukraine’s border. Meanwhile, the FBM KLCI increased by +1.53%.

Celcom Axiata Bhd, Maxis Bhd and Digi Telecommunications have accepted the offer from the Malaysian Communications and Multimedia Commission (MCMC) for spectrum assignment. Mobile service providers would need to continue to provide attraction service value proposition to retain their respective market share especially given the arrival of Single Wholesale Network model (if deploy) for 5G rollout.

Consumer spending remains on expansionary path. Malaysia’s distributive trade sales growth moderated at +3.5%yoy in Dec-21. All three components continue recording positive growth led by motor vehicles (+1.5%yoy), wholesale (+4.1%yoy) and retail (+3.5%yoy). Despite of moderating trends, all components improved on sequential month basis. Expansion of distributive trade sales among others fueled by modest recovery in labour market and reopening of domestic economic activities.

Consumer spending remains on expansionary path. Malaysia’s distributive trade sales growth moderated at +3.5%yoy in Dec-21. All three components continue recording positive growth led by motor vehicles (+1.5%yoy), wholesale (+4.1%yoy) and retail (+3.5%yoy). Despite of moderating trends, all components improved on sequential month basis. Expansion of distributive trade sales among others fueled by modest recovery in labour market and reopening of domestic economic activities.