Demand for building materials to rebound

TheStar Wed, Mar 15, 2023 12:00am - 2 months View Original

PETALING JAYA: There is potential in the building material sector despite 60% of the counters under Kenanga Research’s coverage underperformed in the fourth quarter of 2022 (4Q22).

It also maintained an “overweight” call on the sector based on expectations of a rebound in demand for aluminium from buyers in China following the easing of zero-Covid restrictions and a pick-up in its property market, which is expected to support commodity prices at current levels.

“Since China’s reopening in early January, commodity prices have rebounded strongly after a lacklustre second half of 2022 (2H22), driven by expectations of a demand recovery in its property market.


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