MPLUS 1Q24 Market Chat: Reboot, Realign and Revitalise
The US GDP continues to grow, while inflationary pressure has been cooling off throughout the year. Thus, the market is pricing in at least 3 rate cuts for 2024.
Overall external catalysts have been stabilising at least for the near term and investors should focus on domestic catalysts going into 2024.
We expect infrastructure project could restart next year, while NETR and NIMP will provide decent growth. Besides, the Johor-theme could be emerging as a strong catalyst for 2024. Also, we like the data centre and tech-related investments.
Given this setup, we expect there will be opportunities within the Construction, Building Materials, Property, Utilities, Technology as well as Consumer & Transportation, while Banking and Telco could be some defensive picks.
Overall external catalysts have been stabilising at least for the near term and investors should focus on domestic catalysts going into 2024.
We expect infrastructure project could restart next year, while NETR and NIMP will provide decent growth. Besides, the Johor-theme could be emerging as a strong catalyst for 2024. Also, we like the data centre and tech-related investments.
Given this setup, we expect there will be opportunities within the Construction, Building Materials, Property, Utilities, Technology as well as Consumer & Transportation, while Banking and Telco could be some defensive picks.
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