Corporate earnings

       A few more key corporate earnings results are expected this week, though most of the heavyweights have already reported so far.

       Public Bank Bhd, CIMB Group Holdings Bhd, RHB Bank Bhd, Tenaga Nasional Bhd and FGV Holdings Bhd are among those reporting their earnings this week.

       Meanwhile, S&P Global is expected to release the manufacturing Purchasing Managers’ Index (PMI) on Wednesday.

       Manufacturing PMI in Malaysia is expected to be 51 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

       Malaysia’s manufacturing PMI expanded to 51.6 in April from 49.6 in March, indicating a renewed improvement in the health of the sector.

       The Statistics Department is expected to release the producer price index (PPI) for April tomorrow, with analysts expecting PPI to expand by 12%. The PPI local production, which measures the costs of goods at factory gate grew 11.6% in March 2022 as compared to 9.7% posted in February 2022.

       Bank Negara will also release the detailed disclosure of international reserves as at end-April tomorrow.

       PMIs

       UPCOMING PMIs due this week will provide an important steer to demand, supply and prices, and therefore also policymaking, according to S&P Global.

       The PMI figures will shed light on May supply and inflation conditions in the wider Asia-Pacific, and most notably revealing the latest situation in mainland China, among its ongoing efforts to control the Omicron wave.

       ING expects both manufacturing and non-manufacturing PMI in China to continue to stay below 50, signalling a monthly contraction in May.

       However, the contraction will not be as deep as it was in April.