Malacca Securities TOP PICKS 2ND HALF 2024...

- With the earnings from the AI theme expected to grow, coupled with the Fed hinting on rate cut this year, we expect Wall Street to stay positive at least for the rest of 2024. Buying interest is likely to spillover on the local front, with data center, AI, and cloud services driving the markets higher on various fronts, coinciding with the stronger July month on Bursa exchange.

• For the data center and AI catalysts, it may benefit the Construction, Property, Building Materials, and Utilities sectors, while the Technology sector may catch up in the long run as we may turn into SEA chip powerhouse.

• Meanwhile, we believe the Renewable Energy and Technology will be tagged towards the growth and ongoing execution within the NETR and NIMP. Other key sectors that we like include Furniture, Shipping and Consumers.

$DUFU / 7233 (DUFU TECHNOLOGY CORP. BERHAD) $INFOTEC / 0253 (INFOLINE TEC GROUP BERHAD) $SCOMNET / 0001 (SUPERCOMNET TECHNOLOGIES BERHAD) $PPHB / 8273 (PUBLIC PACKAGES HOLDINGS BHD) $TECHBND / 5289 (TECHBOND GROUP BERHAD)