M+ Market Wrap - 31Dec24
FBM KLCI: 1,642.33 pts (+4.65pts, +0.28%)
The FBMKLCI (+0.28%) traded positively, extending its winning streak to 6-days in the final stretch of the year; as gains in Telco & Media and Healthcare heavyweights boosted sentiment on the local bourse amid window dressing activities. However, market breadth was negative, with 515 losers compared to 485 gainers. In the broader market, buying interest was seen in the Transportation & Logistics sector (+0.67%), led by AIRPORT (+10.0 sen) and HEXTECH (+3.0 sen), while the Construction sector (-0.90%) declined due to profit-taking activities.
Top 3 Active stocks:
ZENTECH (0094): RM0.010 (+0.5 sen)
MUIPROP (3913): RM0.370 (-6.5 sen)
TWL (7079): RM0.025 (unch)
Volume: 2.41 bn (100-bar avg vol: 3.05 bn)
Value: RM2.06 bn (100-bar avg val: RM2.86 bn)
Market Breadth: ⬆️485 ⬇️515
Crude palm oil: RM4,454 (-RM97)
Dow Futures: 42,918 pts (-9 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,642.33 pts (+4.65pts, +0.28%)
The FBMKLCI (+0.28%) traded positively, extending its winning streak to 6-days in the final stretch of the year; as gains in Telco & Media and Healthcare heavyweights boosted sentiment on the local bourse amid window dressing activities. However, market breadth was negative, with 515 losers compared to 485 gainers. In the broader market, buying interest was seen in the Transportation & Logistics sector (+0.67%), led by AIRPORT (+10.0 sen) and HEXTECH (+3.0 sen), while the Construction sector (-0.90%) declined due to profit-taking activities.
Top 3 Active stocks:
ZENTECH (0094): RM0.010 (+0.5 sen)
MUIPROP (3913): RM0.370 (-6.5 sen)
TWL (7079): RM0.025 (unch)
Volume: 2.41 bn (100-bar avg vol: 3.05 bn)
Value: RM2.06 bn (100-bar avg val: RM2.86 bn)
Market Breadth: ⬆️485 ⬇️515
Crude palm oil: RM4,454 (-RM97)
Dow Futures: 42,918 pts (-9 pts)
**Source: Bloomberg, M+**
👍9👏2😁1
M+ Morning Market Buzz - 2Jan25
Dow Jones: 42,544.22 pts (-29.51pts, -0.07%)
⬆️ Resistance: 44300
⬇️ Support: 41500
FBM KLCI: 1,642.33 pts (+4.65pts, +0.28%)
⬆️ Resistance: 1680
⬇️ Support: 1580
HSI Index: 20,059.95 pts (+18.53pts, +0.09%)
⬆️ Resistance: 20600
⬇️ Support: 19600
Crude Palm Oil: RM4,448 (-RM103, -2.26%)
⬆️ Resistance: 4740
⬇️ Support: 4330
Brent Oil: $74.64 (+$0.65, +0.88%)
⬆️ Resistance: 76.40
⬇️ Support: 71.60
Gold: $2,624.50 (+$18.00, +0.69%)
⬆️ Resistance: 2700
⬇️ Support: 2550
Source: Bloomberg, M+
Dow Jones: 42,544.22 pts (-29.51pts, -0.07%)
⬆️ Resistance: 44300
⬇️ Support: 41500
FBM KLCI: 1,642.33 pts (+4.65pts, +0.28%)
⬆️ Resistance: 1680
⬇️ Support: 1580
HSI Index: 20,059.95 pts (+18.53pts, +0.09%)
⬆️ Resistance: 20600
⬇️ Support: 19600
Crude Palm Oil: RM4,448 (-RM103, -2.26%)
⬆️ Resistance: 4740
⬇️ Support: 4330
Brent Oil: $74.64 (+$0.65, +0.88%)
⬆️ Resistance: 76.40
⬇️ Support: 71.60
Gold: $2,624.50 (+$18.00, +0.69%)
⬆️ Resistance: 2700
⬇️ Support: 2550
Source: Bloomberg, M+
👍2
M+ Market update – 2Jan25
Data Center Theme Remains Relevant
The local bourse traded positively, extending its six-day winning streak on the final trading day of 2024, driven by a surge in buying interest during the second session. However, the Nasdaq continued to weigh on Wall Street sentiment, as losses persisted following the Fed’s move to temper expectations of imminent rate cuts. Traders will also keep track of key economic data, including US unemployment claims and the ISM Manufacturing PMI. In the commodities market, buying interest was seen in Brent crude oil, hovering above USD74 after data showed China’s manufacturing activity expanded in December. Gold price traded sideways along USD2620. CPO prices retreated below RM4,500 mark.
Sector Focus: The local front is set to open lower, tracking the weaker tone of the overnight US market, which may cap the upside for the Technology sector for now. Meanwhile, we favour the O&G sector, given the rebound in Brent crude oil prices, and maintain a positive outlook on Glove stocks as the ringgit continues to hover around RM4.47/USD. Looking ahead, we anticipate a potential surge in Construction, Building Materials and Utilities earnings, driven by data center investments.
Stocks to watch:
Technology: *ADB*, *NATGATE*, *SNS*
Property: *SPSETIA*, UEMS
Utility: JTGROUP, *UUE*
Building Material: UNIQUE
Telco: OCK
Source: M+
Data Center Theme Remains Relevant
The local bourse traded positively, extending its six-day winning streak on the final trading day of 2024, driven by a surge in buying interest during the second session. However, the Nasdaq continued to weigh on Wall Street sentiment, as losses persisted following the Fed’s move to temper expectations of imminent rate cuts. Traders will also keep track of key economic data, including US unemployment claims and the ISM Manufacturing PMI. In the commodities market, buying interest was seen in Brent crude oil, hovering above USD74 after data showed China’s manufacturing activity expanded in December. Gold price traded sideways along USD2620. CPO prices retreated below RM4,500 mark.
Sector Focus: The local front is set to open lower, tracking the weaker tone of the overnight US market, which may cap the upside for the Technology sector for now. Meanwhile, we favour the O&G sector, given the rebound in Brent crude oil prices, and maintain a positive outlook on Glove stocks as the ringgit continues to hover around RM4.47/USD. Looking ahead, we anticipate a potential surge in Construction, Building Materials and Utilities earnings, driven by data center investments.
Stocks to watch:
Technology: *ADB*, *NATGATE*, *SNS*
Property: *SPSETIA*, UEMS
Utility: JTGROUP, *UUE*
Building Material: UNIQUE
Telco: OCK
Source: M+
👍5
FBM KLCI: 1,632.87 pts (-9.46pts, -0.58%)
The FBMKLCI (-0.58%) snapped a 6-day winning streak amid weakened sentiment across regional markets; as Industrial Products & Services and Utilities heavyweights namely PCHEM (-31.0 sen) and TENAGA (-18.0 sen) took a breather. Market breadth was negative, with 580 losers against 449 gainers. The Energy sector emerged as the biggest winner, underpinned by gains in KEYFIELD (+17.0 sen) and DIALOG (+2.0 sen), as the spike in Brent Crude oil boosted sentiment in the sector, while Industrial Products & Services declined the most.
Top 3 Active stocks:
VELOCITY (7165): RM0.065 (+1.5 sen)
SNS (0259): RM0.700 (+4.0 sen)
VANZO (0333): RM0.205 (-1.0 sen)
Volume: 2.64 bn (100-bar avg vol: 3.04 bn)
Value: RM1.97 bn (100-bar avg val: RM2.85 bn)
Market Breadth: ⬆️449 ⬇️580
Crude palm oil: RM4,339 (-RM109)
Dow Futures: 43,041 pts (+168 pts)
**Source: Bloomberg, M+**
The FBMKLCI (-0.58%) snapped a 6-day winning streak amid weakened sentiment across regional markets; as Industrial Products & Services and Utilities heavyweights namely PCHEM (-31.0 sen) and TENAGA (-18.0 sen) took a breather. Market breadth was negative, with 580 losers against 449 gainers. The Energy sector emerged as the biggest winner, underpinned by gains in KEYFIELD (+17.0 sen) and DIALOG (+2.0 sen), as the spike in Brent Crude oil boosted sentiment in the sector, while Industrial Products & Services declined the most.
Top 3 Active stocks:
VELOCITY (7165): RM0.065 (+1.5 sen)
SNS (0259): RM0.700 (+4.0 sen)
VANZO (0333): RM0.205 (-1.0 sen)
Volume: 2.64 bn (100-bar avg vol: 3.04 bn)
Value: RM1.97 bn (100-bar avg val: RM2.85 bn)
Market Breadth: ⬆️449 ⬇️580
Crude palm oil: RM4,339 (-RM109)
Dow Futures: 43,041 pts (+168 pts)
**Source: Bloomberg, M+**
👍2😁1
M+ Morning Market Buzz - 3Jan25
Dow Jones: 42,392.27 pts (-151.95pts, -0.36%)
⬆️ Resistance: 44200
⬇️ Support: 41400
FBM KLCI: 1,632.87 pts (-9.46pts, -0.58%)
⬆️ Resistance: 1680
⬇️ Support: 1590
HSI Index: 19,623.32 pts (-436.63pts, -2.18%)
⬆️ Resistance: 20600
⬇️ Support: 19200
Crude Palm Oil: RM4,333 (+RM29, +0.67%)
⬆️ Resistance: 4740
⬇️ Support: 4230
Brent Oil: $74.64 (+$1.29, +1.63%)
⬆️ Resistance: 78.10
⬇️ Support: 71.60
Gold: $2,657.90 (+$0.87, -0.00%)
⬆️ Resistance: 2720
⬇️ Support: 2550
Source: Bloomberg, M+
Dow Jones: 42,392.27 pts (-151.95pts, -0.36%)
⬆️ Resistance: 44200
⬇️ Support: 41400
FBM KLCI: 1,632.87 pts (-9.46pts, -0.58%)
⬆️ Resistance: 1680
⬇️ Support: 1590
HSI Index: 19,623.32 pts (-436.63pts, -2.18%)
⬆️ Resistance: 20600
⬇️ Support: 19200
Crude Palm Oil: RM4,333 (+RM29, +0.67%)
⬆️ Resistance: 4740
⬇️ Support: 4230
Brent Oil: $74.64 (+$1.29, +1.63%)
⬆️ Resistance: 78.10
⬇️ Support: 71.60
Gold: $2,657.90 (+$0.87, -0.00%)
⬆️ Resistance: 2720
⬇️ Support: 2550
Source: Bloomberg, M+
👏2
M+ Market update – 3Jan25
Buying Interest May Be Seen In O&G Stocks
The local front began the year on a softer note, snapping a 6-day winning streak as profit-taking emerged in selected Industrial Products & Services and Utilities heavyweights. Although unemployment claims came in stronger than expected, US stocks extended their losses, partly weighed down by lackluster results from Tesla Inc. Traders will also keep an eye on key economic data, such as the ISM Manufacturing PMI, set to be released later today. In the commodities market, Brent crude oil gained momentum, hovering above USD75, supported by shrinking US crude stockpiles and growing manufacturing activity in China. The gold price edged higher, surpassing USD2,600, while CPO prices retreated below the RM4,400 mark.
Sector Focus: While the local bourse is set to open lower, mirroring the softer tone of the overnight US market, we favour the O&G sector amid the surge in Brent crude oil prices. We also maintain a positive outlook on export-oriented sectors like Glove and Technology as the dollar index continues to edge higher above the 109 level. The breakout in gold prices could present trading opportunities in gold-related counters. Moving forward, we expect data center investments to begin materialising in earnings within the Construction, Building Materials, and Utilities sectors.
Stocks to watch:
Technology: *ADB*, SNS, *VITROX*, VS
Utility: *JTGROUP*, *UUE*
Consumer: *RGB*
Construction: KERJAYA
O&G: KEYFIELD
__Source: M+_ARMADA
Buying Interest May Be Seen In O&G Stocks
The local front began the year on a softer note, snapping a 6-day winning streak as profit-taking emerged in selected Industrial Products & Services and Utilities heavyweights. Although unemployment claims came in stronger than expected, US stocks extended their losses, partly weighed down by lackluster results from Tesla Inc. Traders will also keep an eye on key economic data, such as the ISM Manufacturing PMI, set to be released later today. In the commodities market, Brent crude oil gained momentum, hovering above USD75, supported by shrinking US crude stockpiles and growing manufacturing activity in China. The gold price edged higher, surpassing USD2,600, while CPO prices retreated below the RM4,400 mark.
Sector Focus: While the local bourse is set to open lower, mirroring the softer tone of the overnight US market, we favour the O&G sector amid the surge in Brent crude oil prices. We also maintain a positive outlook on export-oriented sectors like Glove and Technology as the dollar index continues to edge higher above the 109 level. The breakout in gold prices could present trading opportunities in gold-related counters. Moving forward, we expect data center investments to begin materialising in earnings within the Construction, Building Materials, and Utilities sectors.
Stocks to watch:
Technology: *ADB*, SNS, *VITROX*, VS
Utility: *JTGROUP*, *UUE*
Consumer: *RGB*
Construction: KERJAYA
O&G: KEYFIELD
__Source: M+_ARMADA
👍7
M+ Market Wrap - 3Jan25
FBM KLCI: 1,629.46 pts (-3.41pts, -0.21%)
The FBMKLCI (-0.21%) closed lower, tracking the sell-off in Wall Street amid weaker, sales from Tesla despite better manufacturing activity in China; selling pressure was observed in Utilities and Banking heavyweights, namely TENAGA (-16.0 sen) and PBBANK (-4.0 sen). However, market breadth was positive, with 631 gainers and 477 losers. The Energy sector led the gainers (+2.51%), buoyed by gains in DIALOG (+5.0 sen) and YINSON (+5.0 sen), benefiting from the spike in Brent Crude oil prices, while the Healthcare sector (-0.79%) declined the most.
Top 3 Active stocks:
DSONIC (5216): RM0.425(+0.5 sen)
MYEG (0138): RM0.985 (+2.5 sen)
DNEX (4456): RM0.430 (+3.0 sen)
Volume: 3.70 bn (100-bar avg vol: 3.04 bn)
Value: RM2.87 bn (100-bar avg val: RM2.84 bn)
Market Breadth: 631 ⬇️477
Crude palm oil: RM4,335 (+RM2)
Dow Futures: 42,809 pts (+115 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,629.46 pts (-3.41pts, -0.21%)
The FBMKLCI (-0.21%) closed lower, tracking the sell-off in Wall Street amid weaker, sales from Tesla despite better manufacturing activity in China; selling pressure was observed in Utilities and Banking heavyweights, namely TENAGA (-16.0 sen) and PBBANK (-4.0 sen). However, market breadth was positive, with 631 gainers and 477 losers. The Energy sector led the gainers (+2.51%), buoyed by gains in DIALOG (+5.0 sen) and YINSON (+5.0 sen), benefiting from the spike in Brent Crude oil prices, while the Healthcare sector (-0.79%) declined the most.
Top 3 Active stocks:
DSONIC (5216): RM0.425(+0.5 sen)
MYEG (0138): RM0.985 (+2.5 sen)
DNEX (4456): RM0.430 (+3.0 sen)
Volume: 3.70 bn (100-bar avg vol: 3.04 bn)
Value: RM2.87 bn (100-bar avg val: RM2.84 bn)
Market Breadth: 631 ⬇️477
Crude palm oil: RM4,335 (+RM2)
Dow Futures: 42,809 pts (+115 pts)
**Source: Bloomberg, M+**
👍5👏3
M+ Morning Market Buzz - 6Jan25
Dow Jones: 42,732.13 pts (+339.86pts, +0.80%)
⬆️ Resistance: 43800
⬇️ Support: 41400
FBM KLCI: 1,629.46 pts (-3.41pts, -0.21%)
⬆️ Resistance: 1680
⬇️ Support: 1600
HSI Index: 19,760.27 pts (+136.95pts, +0.70%)
⬆️ Resistance: 20600
⬇️ Support: 19200
Crude Palm Oil: RM4,368 (+RM35, +0.81%)
⬆️ Resistance: 4740
⬇️ Support: 4200
Brent Oil: $76.51 (+$0.06, +0.08%)
⬆️ Resistance: 78.30
⬇️ Support: 72.40
Gold: $2,640.22 (+$0.22, +0.01%)
⬆️ Resistance: 2720
⬇️ Support: 2550
Source: Bloomberg, M+
Dow Jones: 42,732.13 pts (+339.86pts, +0.80%)
⬆️ Resistance: 43800
⬇️ Support: 41400
FBM KLCI: 1,629.46 pts (-3.41pts, -0.21%)
⬆️ Resistance: 1680
⬇️ Support: 1600
HSI Index: 19,760.27 pts (+136.95pts, +0.70%)
⬆️ Resistance: 20600
⬇️ Support: 19200
Crude Palm Oil: RM4,368 (+RM35, +0.81%)
⬆️ Resistance: 4740
⬇️ Support: 4200
Brent Oil: $76.51 (+$0.06, +0.08%)
⬆️ Resistance: 78.30
⬇️ Support: 72.40
Gold: $2,640.22 (+$0.22, +0.01%)
⬆️ Resistance: 2720
⬇️ Support: 2550
Source: Bloomberg, M+
👍1
M+ Market update – 6Jan25
Focusing On JS-SEZ
The local front extended its pullback for a second session at the start of the year, as profit-taking activities were observed across several blue-chip counters after the year-end window dressing activities. In the US, S&P500 and NASDAQ snapped their 5-day losing streak, driven by a rally in tech stocks as bargain hunting activities happened across some of the 2024’s dominant themes, including artificial intelligence. This week, traders will also keep an eye on several key economic data, including (i) Eurozone CPI, (ii) China’s CPI and also (iii) ISM Non-Manufacturing PMI. In the commodities market, Brent crude oil gained momentum to hover above USD76 level supported by cold weather in the Europe and US, which could point to stronger demand. The gold price traded slightly higher above USD2,600, while CPO prices retreated below the RM4,400 mark.
Sector Focus: With the Singapore's Prime Minister visiting Malaysia today for the formalisation of the Johor-Singapore Special Economic Zone (JS-SEZ), traders can refocus on Johor-related counters. Besides, given the recent rise in crude oil prices, we believe trading opportunities will continue to emerge in the Energy sector. Lastly, we expect data center investments to begin materialising earnings within the Construction, Building Materials, and Utilities sectors.
Stocks to watch:
Construction: INTA, *SSB8*, *SUNCON*, WCT
Technology: MYEG, *PANDA*, VS
Utility: *PWRWELL*, *RANHILL*
Building Material: SKBSHUT, UNIQUE
Consumer: GCB
Source: M+
Focusing On JS-SEZ
The local front extended its pullback for a second session at the start of the year, as profit-taking activities were observed across several blue-chip counters after the year-end window dressing activities. In the US, S&P500 and NASDAQ snapped their 5-day losing streak, driven by a rally in tech stocks as bargain hunting activities happened across some of the 2024’s dominant themes, including artificial intelligence. This week, traders will also keep an eye on several key economic data, including (i) Eurozone CPI, (ii) China’s CPI and also (iii) ISM Non-Manufacturing PMI. In the commodities market, Brent crude oil gained momentum to hover above USD76 level supported by cold weather in the Europe and US, which could point to stronger demand. The gold price traded slightly higher above USD2,600, while CPO prices retreated below the RM4,400 mark.
Sector Focus: With the Singapore's Prime Minister visiting Malaysia today for the formalisation of the Johor-Singapore Special Economic Zone (JS-SEZ), traders can refocus on Johor-related counters. Besides, given the recent rise in crude oil prices, we believe trading opportunities will continue to emerge in the Energy sector. Lastly, we expect data center investments to begin materialising earnings within the Construction, Building Materials, and Utilities sectors.
Stocks to watch:
Construction: INTA, *SSB8*, *SUNCON*, WCT
Technology: MYEG, *PANDA*, VS
Utility: *PWRWELL*, *RANHILL*
Building Material: SKBSHUT, UNIQUE
Consumer: GCB
Source: M+
👍9
M+ Market Wrap - 6Jan25
FBM KLCI: 1,625.47 pts (-3.99pts, -0.24%)
The FBMKLCI (-0.24%) extended its losses for the third consecutive day, closing lower at 1,625.47 pts, primarily dragged down by Petronas-related counters such as PCHEM (-10.0 sen) and PETDAG (-64.0 sen). Market breadth was also negative, with 577 losers against 503 gainers. In the broader market, the Construction sector (+2.36%) emerged as the best performer, driven by gains in GAMUDA (+16.0 sen) and IJM (+11.0 sen), as Penang's LRT project, which was set to begin this month, is expected to benefit the construction-related counters. Meanwhile, the Consumer Products & Services sector (-0.61%) saw the largest decline.
Top 3 Active stocks:
VELOCITY (7165): RM0.080 (+1.0 sen)
TOPGLOV (7113): RM1.360 (+3.0 sen)
VELESTO (5243): RM0.155 (-1.0 sen)
Volume: 3.48 bn (100-bar avg vol: 3.04 bn)
Value: RM2.66 bn (100-bar avg val: RM2.84 bn)
Market Breadth: ⬆️503 ⬇️577
Crude palm oil: RM4,314 (-RM54)
Dow Futures: 43,090 pts (+69 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,625.47 pts (-3.99pts, -0.24%)
The FBMKLCI (-0.24%) extended its losses for the third consecutive day, closing lower at 1,625.47 pts, primarily dragged down by Petronas-related counters such as PCHEM (-10.0 sen) and PETDAG (-64.0 sen). Market breadth was also negative, with 577 losers against 503 gainers. In the broader market, the Construction sector (+2.36%) emerged as the best performer, driven by gains in GAMUDA (+16.0 sen) and IJM (+11.0 sen), as Penang's LRT project, which was set to begin this month, is expected to benefit the construction-related counters. Meanwhile, the Consumer Products & Services sector (-0.61%) saw the largest decline.
Top 3 Active stocks:
VELOCITY (7165): RM0.080 (+1.0 sen)
TOPGLOV (7113): RM1.360 (+3.0 sen)
VELESTO (5243): RM0.155 (-1.0 sen)
Volume: 3.48 bn (100-bar avg vol: 3.04 bn)
Value: RM2.66 bn (100-bar avg val: RM2.84 bn)
Market Breadth: ⬆️503 ⬇️577
Crude palm oil: RM4,314 (-RM54)
Dow Futures: 43,090 pts (+69 pts)
**Source: Bloomberg, M+**
👍2😁2
M+ Morning Market Buzz - 7Jan25
Dow Jones: 42,706.56 pts (-25.57pts, -0.06%)
⬆️ Resistance: 44000
⬇️ Support: 41400
FBM KLCI: 1,625.47 pts (-3.99pts, -0.24%)
⬆️ Resistance: 1680
⬇️ Support: 1600
HSI Index: 19,688.29 pts (-71.98pts, -0.36%)
⬆️ Resistance: 20600
⬇️ Support: 19200
Crude Palm Oil: RM4,338 (+RM1, +0.02%)
⬆️ Resistance: 4670
⬇️ Support: 4200
Brent Oil: $76.30 (-$0.21, -0.27%)
⬆️ Resistance: 79.10
⬇️ Support: 72.40
Gold: $2,636.47 (-$0.43, -0.02%)
⬆️ Resistance: 2720
⬇️ Support: 2560
Source: Bloomberg, M+
Dow Jones: 42,706.56 pts (-25.57pts, -0.06%)
⬆️ Resistance: 44000
⬇️ Support: 41400
FBM KLCI: 1,625.47 pts (-3.99pts, -0.24%)
⬆️ Resistance: 1680
⬇️ Support: 1600
HSI Index: 19,688.29 pts (-71.98pts, -0.36%)
⬆️ Resistance: 20600
⬇️ Support: 19200
Crude Palm Oil: RM4,338 (+RM1, +0.02%)
⬆️ Resistance: 4670
⬇️ Support: 4200
Brent Oil: $76.30 (-$0.21, -0.27%)
⬆️ Resistance: 79.10
⬇️ Support: 72.40
Gold: $2,636.47 (-$0.43, -0.02%)
⬆️ Resistance: 2720
⬇️ Support: 2560
Source: Bloomberg, M+
👏2
M+ Market update – 7Jan25
Spotlight On Johor-Related Stocks
The local front continued to retreat for the third consecutive day, with selling pressure observed across Petronas-related counters including PCHEM and PETDAG. In the US, S&P500 and NASDAQ extended their gains for the second day, with Nvidia hitting a record high ahead of CEO Jensen Huang’s speech. Meanwhile Foxconn’s strong quarterly revenue continued to fuel demand for tech stocks. Traders will also keep track on the US jobs report this Friday. In the commodities market, Brent crude oil is hovering around USD76, while the gold price traded sideways above USD2,600, and Bitcoin once again surpassing the USD100k mark. Meanwhile, the CPO prices are still trading below the RM4,400 mark.
Sector Focus: As the Malaysia-Singapore Leaders' Retreat enters its second day, the Prime Ministers of both countries are set to sign a joint agreement on the Johor-Singapore Special Economic Zone. Hence, traders can continue to look for opportunities within the Johor-related counters. Besides, as Penang’s LRT project set to commence this month, we believe the Construction sector stands to benefit. Lastly, the reports of new virus infections in China may lead to heightened sentiment and trading volatility in glove counters.
Stocks to watch:
Construction: BNASTRA, *IJM*, *SUNCON*
Technology: *NOTION*, *RAMSSOL*
Building Material: *SENDAI *
O&G: *ARMADA*
Healthcare: KOSSAN
Financial: OSK
Consumer: GCB
Source: M+
Spotlight On Johor-Related Stocks
The local front continued to retreat for the third consecutive day, with selling pressure observed across Petronas-related counters including PCHEM and PETDAG. In the US, S&P500 and NASDAQ extended their gains for the second day, with Nvidia hitting a record high ahead of CEO Jensen Huang’s speech. Meanwhile Foxconn’s strong quarterly revenue continued to fuel demand for tech stocks. Traders will also keep track on the US jobs report this Friday. In the commodities market, Brent crude oil is hovering around USD76, while the gold price traded sideways above USD2,600, and Bitcoin once again surpassing the USD100k mark. Meanwhile, the CPO prices are still trading below the RM4,400 mark.
Sector Focus: As the Malaysia-Singapore Leaders' Retreat enters its second day, the Prime Ministers of both countries are set to sign a joint agreement on the Johor-Singapore Special Economic Zone. Hence, traders can continue to look for opportunities within the Johor-related counters. Besides, as Penang’s LRT project set to commence this month, we believe the Construction sector stands to benefit. Lastly, the reports of new virus infections in China may lead to heightened sentiment and trading volatility in glove counters.
Stocks to watch:
Construction: BNASTRA, *IJM*, *SUNCON*
Technology: *NOTION*, *RAMSSOL*
Building Material: *SENDAI *
O&G: *ARMADA*
Healthcare: KOSSAN
Financial: OSK
Consumer: GCB
Source: M+
👍3
M+ Market Wrap - 7Jan25
FBM KLCI: 1,629.79 pts (+4.32pts, +0.27%)
After losing for three consecutive days, the FBMKLCI (+0.27%) rebounded and closed higher at 1,629.79 pts, driven by buying support into key heavyweights like GAMUDA (+34.0 sen) and SDG (+13.0 sen). However, the market breadth was negative, with 614 losers against 490 winners. In the broader market, the Construction (+3.53%) sector gained the most, as the kickoff of the Penang LRT project drove optimism in construction counters. Meanwhile, the Health Care (-2.09%) sector experienced the largest decline.
Top 3 Active stocks:
VELOCITY (7165): RM0.080 (unch)
GAMUDA (5398): RM5.200 (+34.0 sen)
TOPGLOV (7113): RM1.320 (-4.0 sen)
Volume: 3.91 bn (100-bar avg vol: 3.04 bn)
Value: RM3.30 bn (100-bar avg val: RM2.84 bn)
Market Breadth: ⬆️490 ⬇️614
Crude palm oil: RM4,345 (+RM7)
Dow Futures: 43,015 pts (+33 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,629.79 pts (+4.32pts, +0.27%)
After losing for three consecutive days, the FBMKLCI (+0.27%) rebounded and closed higher at 1,629.79 pts, driven by buying support into key heavyweights like GAMUDA (+34.0 sen) and SDG (+13.0 sen). However, the market breadth was negative, with 614 losers against 490 winners. In the broader market, the Construction (+3.53%) sector gained the most, as the kickoff of the Penang LRT project drove optimism in construction counters. Meanwhile, the Health Care (-2.09%) sector experienced the largest decline.
Top 3 Active stocks:
VELOCITY (7165): RM0.080 (unch)
GAMUDA (5398): RM5.200 (+34.0 sen)
TOPGLOV (7113): RM1.320 (-4.0 sen)
Volume: 3.91 bn (100-bar avg vol: 3.04 bn)
Value: RM3.30 bn (100-bar avg val: RM2.84 bn)
Market Breadth: ⬆️490 ⬇️614
Crude palm oil: RM4,345 (+RM7)
Dow Futures: 43,015 pts (+33 pts)
**Source: Bloomberg, M+**
👍4👏1
M+ Morning Market Buzz - 8Jan25
Dow Jones: 42,528.36 pts (-178.20pts, -0.42%)
⬆️ Resistance: 44000
⬇️ Support: 41400
FBM KLCI: 1,629.79 pts (+4.32pts, +0.27%)
⬆️ Resistance: 1680
⬇️ Support: 1600
HSI Index: 19,447.58 pts (-240.71pts, -1.22%)
⬆️ Resistance: 20400
⬇️ Support: 18900
Crude Palm Oil: RM4,365 (+RM5, +0.11%)
⬆️ Resistance: 4620
⬇️ Support: 4200
Brent Oil: $77.05 (+$0.75, +0.98%)
⬆️ Resistance: 79.10
⬇️ Support: 73.30
Gold: $2,648.59 (+$0.87, +0.03%)
⬆️ Resistance: 2720
⬇️ Support: 2570
Source: Bloomberg, M+
Dow Jones: 42,528.36 pts (-178.20pts, -0.42%)
⬆️ Resistance: 44000
⬇️ Support: 41400
FBM KLCI: 1,629.79 pts (+4.32pts, +0.27%)
⬆️ Resistance: 1680
⬇️ Support: 1600
HSI Index: 19,447.58 pts (-240.71pts, -1.22%)
⬆️ Resistance: 20400
⬇️ Support: 18900
Crude Palm Oil: RM4,365 (+RM5, +0.11%)
⬆️ Resistance: 4620
⬇️ Support: 4200
Brent Oil: $77.05 (+$0.75, +0.98%)
⬆️ Resistance: 79.10
⬇️ Support: 73.30
Gold: $2,648.59 (+$0.87, +0.03%)
⬆️ Resistance: 2720
⬇️ Support: 2570
Source: Bloomberg, M+
👍4👏2
M+ Market update – 8Jan25
ITMAX Securing Penang Contract
The local front rebounded after its 3-day losing streak, with strong buying interest seen across the Construction sector led by GAMUDA. In the US, all the 3 major indices closed lower, as ISM services data showed an acceleration, raising concerns about persistent inflation and reducing expectations for rate cuts in 2025 (from 2 rate cuts to 1). In terms of key economic data, traders will also keep track on the (i) Eurozone PPI, (ii) China CPI and (iii) US jobs report this week. In the commodities market, Brent crude oil continued its upward momentum and closed above the USD77, while the gold price traded flat around the USD2,650. Meanwhile, the CPO prices showed marginal gains but still trading below the RM4,400 mark.
Sector Focus: With ITMAX securing an RM11.8m CCTV contract from the Penang City Council, we believe trading opportunities will persist in ITMAX; Penang is also ITMAX’s third local council customer, besides Johor and KL. Meanwhile, we are also bullish on e-invoicing-related counters, as taxpayers with an annual turnover or revenue of more than RM25m to RM100m will have to subscribe to e-invoice service starting 1st January 2025. Lastly, with the formalisation of the Johor-Singapore Special Economic Zone, we are optimistic towards the Johor-related counters.
Stocks to watch:
Technology: *ATECH*, CABNET, *JFTECH*, RAMSSOL, *SMRT *
Utility: *JTGROUP*, *KJTS*
O&G: ARMADA
Construction: SSB8
Source: M+
ITMAX Securing Penang Contract
The local front rebounded after its 3-day losing streak, with strong buying interest seen across the Construction sector led by GAMUDA. In the US, all the 3 major indices closed lower, as ISM services data showed an acceleration, raising concerns about persistent inflation and reducing expectations for rate cuts in 2025 (from 2 rate cuts to 1). In terms of key economic data, traders will also keep track on the (i) Eurozone PPI, (ii) China CPI and (iii) US jobs report this week. In the commodities market, Brent crude oil continued its upward momentum and closed above the USD77, while the gold price traded flat around the USD2,650. Meanwhile, the CPO prices showed marginal gains but still trading below the RM4,400 mark.
Sector Focus: With ITMAX securing an RM11.8m CCTV contract from the Penang City Council, we believe trading opportunities will persist in ITMAX; Penang is also ITMAX’s third local council customer, besides Johor and KL. Meanwhile, we are also bullish on e-invoicing-related counters, as taxpayers with an annual turnover or revenue of more than RM25m to RM100m will have to subscribe to e-invoice service starting 1st January 2025. Lastly, with the formalisation of the Johor-Singapore Special Economic Zone, we are optimistic towards the Johor-related counters.
Stocks to watch:
Technology: *ATECH*, CABNET, *JFTECH*, RAMSSOL, *SMRT *
Utility: *JTGROUP*, *KJTS*
O&G: ARMADA
Construction: SSB8
Source: M+
👍5😁1
*JSSEZ - 1+1 > 2: Harnessing the Multiplier Effect*
https://mplusonline.com/research-report/detail/661
• We believe the Johor-Singapore Special Economic Zone (JSSEZ) will generate strong synergies moving forward. Furthermore, it will enhance the region's competitiveness within ASEAN, potentially attracting increased foreign direct investments.
• Drawing inspiration from successful models such as Shenzhen and Suzhou, we believe the JSSEZ will follow a similar concept, creating a wide range of opportunities within various investment themes. In our view, it will drive growth in the Construction, Property, Utilities, Building Materials, and Technology sectors
Stocks that could benefit under these sectors:-
Construction: GAMUDA, IJM, SUNCON, BNASTRA, SSB8
Property: SUNWAY, ECOWLD, AME, UEMS
Utilities: GASMSIA, RANHILL, PEKAT, YTLPOWR, SCGBHD, MNHLDG, SLVEST
High growth, high value segments: PCHEM, DIALOG, ITMAX, CLOUDPT, SMRT, VSTECS
_*Source: Bloomberg, M+ Online*_
https://mplusonline.com/research-report/detail/661
• We believe the Johor-Singapore Special Economic Zone (JSSEZ) will generate strong synergies moving forward. Furthermore, it will enhance the region's competitiveness within ASEAN, potentially attracting increased foreign direct investments.
• Drawing inspiration from successful models such as Shenzhen and Suzhou, we believe the JSSEZ will follow a similar concept, creating a wide range of opportunities within various investment themes. In our view, it will drive growth in the Construction, Property, Utilities, Building Materials, and Technology sectors
Stocks that could benefit under these sectors:-
Construction: GAMUDA, IJM, SUNCON, BNASTRA, SSB8
Property: SUNWAY, ECOWLD, AME, UEMS
Utilities: GASMSIA, RANHILL, PEKAT, YTLPOWR, SCGBHD, MNHLDG, SLVEST
High growth, high value segments: PCHEM, DIALOG, ITMAX, CLOUDPT, SMRT, VSTECS
_*Source: Bloomberg, M+ Online*_
Mplusonline
Your Trusted Guide to Global Trading | Malacca Securities
Trade in the MY, US & HK markets with real-time data, Shariah screening, 24-hour online customer sup...
👍4
M+ Market Wrap - 8Jan25
FBM KLCI: 1,614.83 pts (-14.96pts, -0.92%)
The FBMKLCI (-0.92%) reversed its gain and closed lower at 1,614.83 pts, mainly dragged by key heavyweights including MISC (-32.0 sen) and MAYBANK (-10.0 sen), as subdued overnight performance in the US dampened sentiment across the regional markets. The market breadth was also negative, with 827 losers against 285 winners. In the broader market, all the sectors ended on a negative note, with Healthcare (-2.77%) sector declining the most, as profit-taking activities were seen across glove counters following their recent rallies.
Top 3 Active stocks:
SET (0337): RM0.395 (+11.5 sen)
VELOCITY (7165): RM0.080 (unch)
GAMUDA (5398): RM5.190 (-1.0 sen)
Volume: 3.59 bn (100-bar avg vol: 3.04 bn)
Value: RM3.06 bn (100-bar avg val: RM2.85 bn)
Market Breadth: ⬆️285 ⬇️827
Crude palm oil: RM4,356 (-RM9)
Dow Futures: 42,885 pts (+82 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,614.83 pts (-14.96pts, -0.92%)
The FBMKLCI (-0.92%) reversed its gain and closed lower at 1,614.83 pts, mainly dragged by key heavyweights including MISC (-32.0 sen) and MAYBANK (-10.0 sen), as subdued overnight performance in the US dampened sentiment across the regional markets. The market breadth was also negative, with 827 losers against 285 winners. In the broader market, all the sectors ended on a negative note, with Healthcare (-2.77%) sector declining the most, as profit-taking activities were seen across glove counters following their recent rallies.
Top 3 Active stocks:
SET (0337): RM0.395 (+11.5 sen)
VELOCITY (7165): RM0.080 (unch)
GAMUDA (5398): RM5.190 (-1.0 sen)
Volume: 3.59 bn (100-bar avg vol: 3.04 bn)
Value: RM3.06 bn (100-bar avg val: RM2.85 bn)
Market Breadth: ⬆️285 ⬇️827
Crude palm oil: RM4,356 (-RM9)
Dow Futures: 42,885 pts (+82 pts)
**Source: Bloomberg, M+**
👍3👏1
M+ Morning Market Buzz - 9Jan25
Dow Jones: 42,635.20 pts (+106.84pts, +0.25%)
⬆️ Resistance: 44000
⬇️ Support: 41400
FBM KLCI: 1,614.83 pts (-14.96pts, -0.92%)
⬆️ Resistance: 1680
⬇️ Support: 1590
HSI Index: 19,279.84 pts (-167.74pts, -0.86%)
⬆️ Resistance: 20400
⬇️ Support: 18800
Crude Palm Oil: RM4,354 (-RM25, -0.57%)
⬆️ Resistance: 4620
⬇️ Support: 4200
Brent Oil: $76.16 (-$0.89, -1.16%)
⬆️ Resistance: 79.50
⬇️ Support: 73.30
Gold: $2,661.94 (+$0.34, +0.01%)
⬆️ Resistance: 2730
⬇️ Support: 2570
Source: Bloomberg, M+
Dow Jones: 42,635.20 pts (+106.84pts, +0.25%)
⬆️ Resistance: 44000
⬇️ Support: 41400
FBM KLCI: 1,614.83 pts (-14.96pts, -0.92%)
⬆️ Resistance: 1680
⬇️ Support: 1590
HSI Index: 19,279.84 pts (-167.74pts, -0.86%)
⬆️ Resistance: 20400
⬇️ Support: 18800
Crude Palm Oil: RM4,354 (-RM25, -0.57%)
⬆️ Resistance: 4620
⬇️ Support: 4200
Brent Oil: $76.16 (-$0.89, -1.16%)
⬆️ Resistance: 79.50
⬇️ Support: 73.30
Gold: $2,661.94 (+$0.34, +0.01%)
⬆️ Resistance: 2730
⬇️ Support: 2570
Source: Bloomberg, M+
M+ Market update – 9Jan25
JSSEZ Theme Could Support The Market
The local front closed on a negative tone, as subdued overnight performance in the US spilled into the regional markets. Meanwhile, Wall Street ended mixed, with FOMC meeting minutes reflecting that nearly all committee participants found that upside risks to the inflation outlook had increased, alongside with expectations of fewer rate cuts this year than previously anticipated. Traders will also closely monitor the US monthly initial jobless claims data and China’s CPI and PPI later today. In the commodities market, Brent crude oil declined traded around USD76-77, while the gold price ranging along USD2660 with a positive bias. Meanwhile, the CPO prices continued to trade below the RM4,400 mark.
Sector Focus: Despite broad-based selling pressure, we expect the JSSEZ theme to continue providing support to overall investment sentiment in the near term, driven by ongoing FDI inflows and data center investments. Besides, we remain optimistic about Penang-related counters, underpinned by the commencement of six water projects worth over RM1.8bn and the start of the Penang LRT project. We maintain a bullish outlook on the Construction, Property, Building Material and Utilities sectors. Trading opportunities might persist in ITMAX, as it has secured an RM11.8m CCTV contract from the Penang City Council.
Stocks to watch:
Manufacturing: *MINOX*, UNIQUE
Consumer: *PANDA*, *RGB*
Technology: *ADB*
Utility: *RANHILL*
Property: *VLB*
Construction: INTA
Source: M+
JSSEZ Theme Could Support The Market
The local front closed on a negative tone, as subdued overnight performance in the US spilled into the regional markets. Meanwhile, Wall Street ended mixed, with FOMC meeting minutes reflecting that nearly all committee participants found that upside risks to the inflation outlook had increased, alongside with expectations of fewer rate cuts this year than previously anticipated. Traders will also closely monitor the US monthly initial jobless claims data and China’s CPI and PPI later today. In the commodities market, Brent crude oil declined traded around USD76-77, while the gold price ranging along USD2660 with a positive bias. Meanwhile, the CPO prices continued to trade below the RM4,400 mark.
Sector Focus: Despite broad-based selling pressure, we expect the JSSEZ theme to continue providing support to overall investment sentiment in the near term, driven by ongoing FDI inflows and data center investments. Besides, we remain optimistic about Penang-related counters, underpinned by the commencement of six water projects worth over RM1.8bn and the start of the Penang LRT project. We maintain a bullish outlook on the Construction, Property, Building Material and Utilities sectors. Trading opportunities might persist in ITMAX, as it has secured an RM11.8m CCTV contract from the Penang City Council.
Stocks to watch:
Manufacturing: *MINOX*, UNIQUE
Consumer: *PANDA*, *RGB*
Technology: *ADB*
Utility: *RANHILL*
Property: *VLB*
Construction: INTA
Source: M+
👍7😁2💯1