FBM KLCI: 1,600.81 pts (-14.02pts, -0.87%)
The FBMKLCI (-0.87%) continued to close lower for the second consecutive day, ending at 1,600.81 pts, mainly dragged by Utilities heavyweights like YTLPOWR (-31.0 sen) and YTL (-22.0 sen). The market breadth was also negative, with 900 losers against 231 winners. In the broader market, all the sectors continued to end on a negative tone, with the Construction (-3.25%) sector declining the most, as profit-taking activities were seen across Construction heavyweights.
Top 3 Active stocks:
SET (0337): RM0.420 (+2.5 sen)
TWL (7079): RM0.025 (unch)
VELOCITY (7165): RM0.070 (-1.0 sen)
Volume: 3.49 bn (100-bar avg vol: 3.04 bn)
Value: RM2.93 bn (100-bar avg val: RM2.85 bn)
Market Breadth: ⬆️231 ⬇️900
Crude palm oil: RM4,279 (-RM75)
Dow Futures: 42,863 pts (-15 pts)
**Source: Bloomberg, M+**
The FBMKLCI (-0.87%) continued to close lower for the second consecutive day, ending at 1,600.81 pts, mainly dragged by Utilities heavyweights like YTLPOWR (-31.0 sen) and YTL (-22.0 sen). The market breadth was also negative, with 900 losers against 231 winners. In the broader market, all the sectors continued to end on a negative tone, with the Construction (-3.25%) sector declining the most, as profit-taking activities were seen across Construction heavyweights.
Top 3 Active stocks:
SET (0337): RM0.420 (+2.5 sen)
TWL (7079): RM0.025 (unch)
VELOCITY (7165): RM0.070 (-1.0 sen)
Volume: 3.49 bn (100-bar avg vol: 3.04 bn)
Value: RM2.93 bn (100-bar avg val: RM2.85 bn)
Market Breadth: ⬆️231 ⬇️900
Crude palm oil: RM4,279 (-RM75)
Dow Futures: 42,863 pts (-15 pts)
**Source: Bloomberg, M+**
👏2👍1
M+ Morning Market Buzz - 10Jan25
Dow Jones: 42,635.20 pts (+106.84pts, +0.25%)
⬆️ Resistance: 44000
⬇️ Support: 41500
FBM KLCI: 1,600.81 pts (-14.02pts, -0.87%)
⬆️ Resistance: 1670
⬇️ Support: 1570
HSI Index: 19,240.89 pts (-38.95pts, -0.20%)
⬆️ Resistance: 20300
⬇️ Support: 18800
Crude Palm Oil: RM4,296 (-RM5, -0.12%)
⬆️ Resistance: 4540
⬇️ Support: 4150
Brent Oil: $76.92 (+$0.76, +1.00%)
⬆️ Resistance: 79.50
⬇️ Support: 74.10
Gold: $2,667.25 (+$3.59, +0.13%)
⬆️ Resistance: 2740
⬇️ Support: 2570
Source: Bloomberg, M+
Dow Jones: 42,635.20 pts (+106.84pts, +0.25%)
⬆️ Resistance: 44000
⬇️ Support: 41500
FBM KLCI: 1,600.81 pts (-14.02pts, -0.87%)
⬆️ Resistance: 1670
⬇️ Support: 1570
HSI Index: 19,240.89 pts (-38.95pts, -0.20%)
⬆️ Resistance: 20300
⬇️ Support: 18800
Crude Palm Oil: RM4,296 (-RM5, -0.12%)
⬆️ Resistance: 4540
⬇️ Support: 4150
Brent Oil: $76.92 (+$0.76, +1.00%)
⬆️ Resistance: 79.50
⬇️ Support: 74.10
Gold: $2,667.25 (+$3.59, +0.13%)
⬆️ Resistance: 2740
⬇️ Support: 2570
Source: Bloomberg, M+
👍2
M+ Market update – 10Jan25
State-Specific Thematic Focus
The local front continued to close on a negative tone, with YTL-related counters dragging the key index lower. Meanwhile, equity markets in the US were closed in observance of the passing of former US President Jimmy Carter. As the time of writing, Wall Street futures are down, and traders are shifting their attention to the December nonfarm payrolls due later today. In the commodities market, Brent crude oil traded above USD77 level amid declining US inventories. Gold prices are hovering along the USD2670 level, while CPO prices have fallen below RM4,300.
Sector Focus: As Wall Street futures slides, this could spillover to stocks on the local front. However, we believe the market will focus on state-specific thematic plays; (i) Sarawak - PM Anwar’s proposal to position Sarawak as Malaysia’s energy hub is expected to drive further developments in the state, benefiting East Malaysia-related counters, (ii) Penang - the commencement of six water projects in Penang, worth over RM1.8bn, alongside the start of the Penang LRT project, is expected to boost the Penang-related counters and (iii) Johor - the formalisation of the JSSEZ, coupled with ongoing FDI inflows and data center investments in Johor, is anticipated to benefit the Johor-related counters.
Stocks to watch:
Consumer: *DXN*, *FFB*
O&G: *YINSON*
Property: *ECOWLD*
Utility: MALAKOF
Source: M+
State-Specific Thematic Focus
The local front continued to close on a negative tone, with YTL-related counters dragging the key index lower. Meanwhile, equity markets in the US were closed in observance of the passing of former US President Jimmy Carter. As the time of writing, Wall Street futures are down, and traders are shifting their attention to the December nonfarm payrolls due later today. In the commodities market, Brent crude oil traded above USD77 level amid declining US inventories. Gold prices are hovering along the USD2670 level, while CPO prices have fallen below RM4,300.
Sector Focus: As Wall Street futures slides, this could spillover to stocks on the local front. However, we believe the market will focus on state-specific thematic plays; (i) Sarawak - PM Anwar’s proposal to position Sarawak as Malaysia’s energy hub is expected to drive further developments in the state, benefiting East Malaysia-related counters, (ii) Penang - the commencement of six water projects in Penang, worth over RM1.8bn, alongside the start of the Penang LRT project, is expected to boost the Penang-related counters and (iii) Johor - the formalisation of the JSSEZ, coupled with ongoing FDI inflows and data center investments in Johor, is anticipated to benefit the Johor-related counters.
Stocks to watch:
Consumer: *DXN*, *FFB*
O&G: *YINSON*
Property: *ECOWLD*
Utility: MALAKOF
Source: M+
👍7
M+ Market Wrap - 10Jan25
FBM KLCI: 1,602.41 pts (+1.60pts, +0.10%)
Despite the sluggish regional market performance, the FBMKLCI (+0.10%) bucked the trend and closed slightly higher at 1,602.41 pts, led by key heavyweights including CIMB (+7.0 sen) and YTLPOWR (+5.0 sen). Nevertheless, the market breadth was still negative, with 530 losers against 443 winners. In the broader market, the Healthcare (+1.48%) sector emerged as the top gainer, with bargain-hunting activities occurred across glove counters like HARTA (+8.0 sen) and TOPGLOV (+3.0 sen) after their recent pullback. Meanwhile, the Property (-0.68%) sector ended the day as the worst-performing sector.
Top 3 Active stocks:
VELOCITY (7165): RM0.085 (+1.5 sen)
NATGATE (0270): RM2.450 (-17.0 sen)
SET (0337): RM0.385 (-3.5 sen)
Volume: 2.52 bn (100-bar avg vol: 3.03 bn)
Value: RM2.42 bn (100-bar avg val: RM2.85 bn)
Market Breadth: ⬆️443 ⬇️530
Crude palm oil: RM4,383 (+RM87)
Dow Futures: 42,841 pts (+19 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,602.41 pts (+1.60pts, +0.10%)
Despite the sluggish regional market performance, the FBMKLCI (+0.10%) bucked the trend and closed slightly higher at 1,602.41 pts, led by key heavyweights including CIMB (+7.0 sen) and YTLPOWR (+5.0 sen). Nevertheless, the market breadth was still negative, with 530 losers against 443 winners. In the broader market, the Healthcare (+1.48%) sector emerged as the top gainer, with bargain-hunting activities occurred across glove counters like HARTA (+8.0 sen) and TOPGLOV (+3.0 sen) after their recent pullback. Meanwhile, the Property (-0.68%) sector ended the day as the worst-performing sector.
Top 3 Active stocks:
VELOCITY (7165): RM0.085 (+1.5 sen)
NATGATE (0270): RM2.450 (-17.0 sen)
SET (0337): RM0.385 (-3.5 sen)
Volume: 2.52 bn (100-bar avg vol: 3.03 bn)
Value: RM2.42 bn (100-bar avg val: RM2.85 bn)
Market Breadth: ⬆️443 ⬇️530
Crude palm oil: RM4,383 (+RM87)
Dow Futures: 42,841 pts (+19 pts)
**Source: Bloomberg, M+**
👍3😁2
M+ Morning Market Buzz - 13Jan25
Dow Jones: 41,938.45 pts (-696.75pts, -1.63%)
⬆️ Resistance: 44000
⬇️ Support: 41100
FBM KLCI: 1,602.41 pts (+1.60pts, +0.10%)
⬆️ Resistance: 1670
⬇️ Support: 1570
HSI Index: 19,064.29 pts (-176.60pts, -0.92%)
⬆️ Resistance: 20300
⬇️ Support: 18700
Crude Palm Oil: RM4,391 (+RM95, +2.21%)
⬆️ Resistance: 4540
⬇️ Support: 4150
Brent Oil: $79.76 (+$2.84, +3.69%)
⬆️ Resistance: 82.40
⬇️ Support: 74.20
Gold: $2,689.76 (+$22.51, +0.84%)
⬆️ Resistance: 2760
⬇️ Support: 2570
Source: Bloomberg, M+
Dow Jones: 41,938.45 pts (-696.75pts, -1.63%)
⬆️ Resistance: 44000
⬇️ Support: 41100
FBM KLCI: 1,602.41 pts (+1.60pts, +0.10%)
⬆️ Resistance: 1670
⬇️ Support: 1570
HSI Index: 19,064.29 pts (-176.60pts, -0.92%)
⬆️ Resistance: 20300
⬇️ Support: 18700
Crude Palm Oil: RM4,391 (+RM95, +2.21%)
⬆️ Resistance: 4540
⬇️ Support: 4150
Brent Oil: $79.76 (+$2.84, +3.69%)
⬆️ Resistance: 82.40
⬇️ Support: 74.20
Gold: $2,689.76 (+$22.51, +0.84%)
⬆️ Resistance: 2760
⬇️ Support: 2570
Source: Bloomberg, M+
👏2
M+ Market Update – 13Jan25
Tech Stocks May Experience Higher Volatility
The local bourse ended the week on a marginally positive note, lifted by gains in the Banking and Utilities sectors. In the US, December job data showed a recovery following the devastating hurricane season in November, exceeding analysts' forecasts. However, Wall Street closed on a negative note as markets anticipated that the Fed could further slow the easing cycle. In the commodities market, Brent crude oil approached the USD80 level amid declining US crude inventories. Gold prices traded above USD2,680 an ounce, while CPO prices rebounded, but remained below the RM 4,400 level.
Sector Focus Mirroring the softer tone of the US market performance, KLCI is set to open lower. Traders may focus on the O&G sector amid the surge in Brent crude oil prices and export-oriented stocks, that could benefit from the strengthening of the Dollar, which is currently hovering around the two-year high. However, the upside of the Technology stock may be limited following the announcement of further US restrictions on AI chip exports to Malaysia. Nevertheless, we believe domestic-themed plays may take the lead in the near term ahead of Trump’s inauguration January 20. Key themes to watch include JSSEZ initiative, Penang’s ongoing LRT project and potential emergence of Sarawak as an energy hub.
Stocks to watch:
Technology: *ADB*, CLOUDPT, *EG*, *ITMAX*
Utility: KJTS, *PEKAT*, SLVEST, UUE
Consumer: *GCB*
Building Material: UNIQUE
Source: M+
Tech Stocks May Experience Higher Volatility
The local bourse ended the week on a marginally positive note, lifted by gains in the Banking and Utilities sectors. In the US, December job data showed a recovery following the devastating hurricane season in November, exceeding analysts' forecasts. However, Wall Street closed on a negative note as markets anticipated that the Fed could further slow the easing cycle. In the commodities market, Brent crude oil approached the USD80 level amid declining US crude inventories. Gold prices traded above USD2,680 an ounce, while CPO prices rebounded, but remained below the RM 4,400 level.
Sector Focus Mirroring the softer tone of the US market performance, KLCI is set to open lower. Traders may focus on the O&G sector amid the surge in Brent crude oil prices and export-oriented stocks, that could benefit from the strengthening of the Dollar, which is currently hovering around the two-year high. However, the upside of the Technology stock may be limited following the announcement of further US restrictions on AI chip exports to Malaysia. Nevertheless, we believe domestic-themed plays may take the lead in the near term ahead of Trump’s inauguration January 20. Key themes to watch include JSSEZ initiative, Penang’s ongoing LRT project and potential emergence of Sarawak as an energy hub.
Stocks to watch:
Technology: *ADB*, CLOUDPT, *EG*, *ITMAX*
Utility: KJTS, *PEKAT*, SLVEST, UUE
Consumer: *GCB*
Building Material: UNIQUE
Source: M+
👍9👏1
M+ Market Wrap - 13Jan25
FBM KLCI: 1,585.59 pts (-16.82pts, -1.05%)
Mirroring the softer tone of the US market performance, the FBMKLCI (-1.05%) closed lower, dragged down by selling pressure in YTL-related counters; as sentiment weakened amid the latest robust US jobs data and the recent US announcement of further restrictions on AI chip exports to Malaysia. Market breadth was negative, with 897 losers compared to 211 gainers. All sectors were negative except for the Energy sector (+0.30%), which was led by gains in DIALOG (+3.0 sen) and YINSON (+3.0 sen), benefiting from the price surge in Brent crude oil.
Top 3 Active stocks:
SET (0337): RM0.375 (-1.0 sen)
KGROUP(0336): RM0.005 (-0.5 sen)
YTLPOWR (6742): RM4.000 (-2.5 sen)
Volume: 2.85 bn (100-bar avg vol: 3.02 bn)
Value: RM2.54 bn (100-bar avg val: RM2.83 bn)
Market Breadth: ⬆️211 ⬇️897
Crude palm oil: RM4,538 (+RM147)
Dow Futures: 42,006 pts (-154 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,585.59 pts (-16.82pts, -1.05%)
Mirroring the softer tone of the US market performance, the FBMKLCI (-1.05%) closed lower, dragged down by selling pressure in YTL-related counters; as sentiment weakened amid the latest robust US jobs data and the recent US announcement of further restrictions on AI chip exports to Malaysia. Market breadth was negative, with 897 losers compared to 211 gainers. All sectors were negative except for the Energy sector (+0.30%), which was led by gains in DIALOG (+3.0 sen) and YINSON (+3.0 sen), benefiting from the price surge in Brent crude oil.
Top 3 Active stocks:
SET (0337): RM0.375 (-1.0 sen)
KGROUP(0336): RM0.005 (-0.5 sen)
YTLPOWR (6742): RM4.000 (-2.5 sen)
Volume: 2.85 bn (100-bar avg vol: 3.02 bn)
Value: RM2.54 bn (100-bar avg val: RM2.83 bn)
Market Breadth: ⬆️211 ⬇️897
Crude palm oil: RM4,538 (+RM147)
Dow Futures: 42,006 pts (-154 pts)
**Source: Bloomberg, M+**
👍2
M+ Morning Market Buzz - 14Jan25
Dow Jones: 42,297.12 pts (+358.67pts, +0.86%)
⬆️ Resistance: 43800
⬇️ Support: 41100
FBM KLCI: 1,585.59 pts (-16.82pts, -1.05%)
⬆️ Resistance: 1670
⬇️ Support: 1550
HSI Index: 18,874.14 pts (-190.15pts, -1.00%)
⬆️ Resistance: 20100
⬇️ Support: 18300
Crude Palm Oil: RM4,500 (-RM14, -0.31%)
⬆️ Resistance: 4640
⬇️ Support: 4150
Brent Oil: $79.76 (+$1.21, +1.52%)
⬆️ Resistance: 83.40
⬇️ Support: 74.20
Gold: $2,663.16 (+$0.08, +0.00%)
⬆️ Resistance: 2760
⬇️ Support: 2590
Source: Bloomberg, M+
Dow Jones: 42,297.12 pts (+358.67pts, +0.86%)
⬆️ Resistance: 43800
⬇️ Support: 41100
FBM KLCI: 1,585.59 pts (-16.82pts, -1.05%)
⬆️ Resistance: 1670
⬇️ Support: 1550
HSI Index: 18,874.14 pts (-190.15pts, -1.00%)
⬆️ Resistance: 20100
⬇️ Support: 18300
Crude Palm Oil: RM4,500 (-RM14, -0.31%)
⬆️ Resistance: 4640
⬇️ Support: 4150
Brent Oil: $79.76 (+$1.21, +1.52%)
⬆️ Resistance: 83.40
⬇️ Support: 74.20
Gold: $2,663.16 (+$0.08, +0.00%)
⬆️ Resistance: 2760
⬇️ Support: 2590
Source: Bloomberg, M+
😁2
M+ Market Update – 14Jan25
Bumpy Ride On Bursa Exchange To Persist
The local bourse began the week on a negative note, tracking the weaker overnight performance in the US, coupled with the announcement over the weekend of chip export curb affecting Malaysia. While dip-buying was observed in the Dow Jones, Wall Street closed on a mixed note as traders awaited US inflation data, set to be released this Wednesday, for more insight into the pace of rate cuts in 2025. In the commodities market, Brent crude oil traded above USD80, gold prices retreated below USD2,700, and CPO prices gapped up, trading nearer towards RM4,500.
Sector Focus We believe the local bourse may continue to experience volatility due to the chip export curb announcement. However, trading opportunities may emerge within the O&G sector, supported by US sanctions on Russian oil and declining US inventories, which continue to drive a rebound in Brent crude oil. In the technology sector, the upside potential may be limited following the recent announcements President Biden, but we anticipate some oversold buying opportunities in the EMS, OSAT and ATE players, driven by a strengthening dollar. Also, we think Gamuda will boost the sentiment in the Construction sector, after securing the Penang LRT contract. We remain positive on Property stocks in Johor, following the JSSEZ initiatives.
Stocks to watch:
Finance: *ABMB*, AMBANK
Technology: *AWANTEC*
Utility: PEKAT
O&G: *YINSON*
Consumer: *FOCUSP*
Source: M+
Bumpy Ride On Bursa Exchange To Persist
The local bourse began the week on a negative note, tracking the weaker overnight performance in the US, coupled with the announcement over the weekend of chip export curb affecting Malaysia. While dip-buying was observed in the Dow Jones, Wall Street closed on a mixed note as traders awaited US inflation data, set to be released this Wednesday, for more insight into the pace of rate cuts in 2025. In the commodities market, Brent crude oil traded above USD80, gold prices retreated below USD2,700, and CPO prices gapped up, trading nearer towards RM4,500.
Sector Focus We believe the local bourse may continue to experience volatility due to the chip export curb announcement. However, trading opportunities may emerge within the O&G sector, supported by US sanctions on Russian oil and declining US inventories, which continue to drive a rebound in Brent crude oil. In the technology sector, the upside potential may be limited following the recent announcements President Biden, but we anticipate some oversold buying opportunities in the EMS, OSAT and ATE players, driven by a strengthening dollar. Also, we think Gamuda will boost the sentiment in the Construction sector, after securing the Penang LRT contract. We remain positive on Property stocks in Johor, following the JSSEZ initiatives.
Stocks to watch:
Finance: *ABMB*, AMBANK
Technology: *AWANTEC*
Utility: PEKAT
O&G: *YINSON*
Consumer: *FOCUSP*
Source: M+
👍4🥰1
M+ Market Wrap - 14Jan25
FBM KLCI: 1,576.46 pts (-9.13pts, -0.58%)
The FBMKLCI (-0.58%) extended its selling pressure for the fifth consecutive day, closing lower at 1,576.46 pts as the index was dragged down by key heavyweights, including YTLPOWR (-19.0 sen) and SUNWAY (-24.0 sen). The market breadth remained negative, with 588 losers against 400 winners. In the broader market, 11 out of the 13 sectors ended on a negative note, with the Construction (-2.01%) sector seeing the largest decline, dragged down by SUNCON (-34.0 sen) and IJM (-11.0 sen). Meanwhile, Telecommunications & Media (+1.09%) and Consumer Products & Services (+0.40%) were the two positively performing sectors.
Top 3 Active stocks:
TWL (7079): RM0.030 (unch)
VELOCITY (7165): RM0.080 (unch)
EAH (0154): RM0.005 (unch)
Volume: 3.45 bn (100-bar avg vol: 3.02 bn)
Value: RM2.73 bn (100-bar avg val: RM2.81 bn)
Market Breadth: ⬆️400 ⬇️588
Crude palm oil: RM4,458 (-RM42)
Dow Futures: 42,686 pts (+163 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,576.46 pts (-9.13pts, -0.58%)
The FBMKLCI (-0.58%) extended its selling pressure for the fifth consecutive day, closing lower at 1,576.46 pts as the index was dragged down by key heavyweights, including YTLPOWR (-19.0 sen) and SUNWAY (-24.0 sen). The market breadth remained negative, with 588 losers against 400 winners. In the broader market, 11 out of the 13 sectors ended on a negative note, with the Construction (-2.01%) sector seeing the largest decline, dragged down by SUNCON (-34.0 sen) and IJM (-11.0 sen). Meanwhile, Telecommunications & Media (+1.09%) and Consumer Products & Services (+0.40%) were the two positively performing sectors.
Top 3 Active stocks:
TWL (7079): RM0.030 (unch)
VELOCITY (7165): RM0.080 (unch)
EAH (0154): RM0.005 (unch)
Volume: 3.45 bn (100-bar avg vol: 3.02 bn)
Value: RM2.73 bn (100-bar avg val: RM2.81 bn)
Market Breadth: ⬆️400 ⬇️588
Crude palm oil: RM4,458 (-RM42)
Dow Futures: 42,686 pts (+163 pts)
**Source: Bloomberg, M+**
👍2👏1
M+ Morning Market Buzz - 15Jan25
Dow Jones: 42,518.28 pts (+221.16pts, +0.52%)
⬆️ Resistance: 43600
⬇️ Support: 41100
FBM KLCI: 1,576.46 pts (-9.13pts, -0.58%)
⬆️ Resistance: 1670
⬇️ Support: 1550
HSI Index: 19,219.78 pts (+345.64pts, +1.83%)
⬆️ Resistance: 19900
⬇️ Support: 18300
Crude Palm Oil: RM4,437 (+RM8, +0.18%)
⬆️ Resistance: 4640
⬇️ Support: 4150
Brent Oil: $81.01 (-$0.61, -0.75%)
⬆️ Resistance: 83.40
⬇️ Support: 74.20
Gold: $2,677.46 (-$5.29, -0.20%)
⬆️ Resistance: 2760
⬇️ Support: 2600
Source: Bloomberg, M+
Dow Jones: 42,518.28 pts (+221.16pts, +0.52%)
⬆️ Resistance: 43600
⬇️ Support: 41100
FBM KLCI: 1,576.46 pts (-9.13pts, -0.58%)
⬆️ Resistance: 1670
⬇️ Support: 1550
HSI Index: 19,219.78 pts (+345.64pts, +1.83%)
⬆️ Resistance: 19900
⬇️ Support: 18300
Crude Palm Oil: RM4,437 (+RM8, +0.18%)
⬆️ Resistance: 4640
⬇️ Support: 4150
Brent Oil: $81.01 (-$0.61, -0.75%)
⬆️ Resistance: 83.40
⬇️ Support: 74.20
Gold: $2,677.46 (-$5.29, -0.20%)
⬆️ Resistance: 2760
⬇️ Support: 2600
Source: Bloomberg, M+
👍2
M+ Market Update – 15Jan25
Focus Returns to Domestic and Stronger Dollar Catalysts
The local bourse continued its sell-off, dragged down by Utilities and Construction heavyweights. While US PPI data came in softer, Wall Street closed mixed ahead of another inflation data release tonight, where we foresee softer data would indicate easing inflationary pressure, in turn boosting the sentiment in both global and local markets. In the commodities market, Brent crude oil retreated due to profit-taking, trading around USD79/barrel, while gold rebounded to USD2,670/ounce after the softer PPI data. CPO prices hovering around RM4,450, closing the gap from the previous day's trading session.
Sector Focus: Despite Brent oil retreated on profit-taking, we believe the recent announcement of Yinson receiving USD1bn in CapEx could lift sentiment in the Energy sector. With the recent announcement from President Biden limiting AI chip exports to Malaysia, which may cap the upside on the Technology sector, we see trading opportunities in the oversold EMS, OSAT, and ATE players, benefiting from the 'stronger for longer' dollar outlook. Besides, we expect buying opportunities to emerge in the Construction sector, as there are still several packages yet to be announced after Gamuda won the Penang LRT contract, while Property players with large landbanks in Johor could benefit from the JSSEZ initiatives.
Stocks to watch:
Technology: *CUSCAPI*, *RAMSSOL*
Utility: *KJTS*, MALAKOF
Construction: *BNASTRA*
Automotive: BETA
Source: M+
Focus Returns to Domestic and Stronger Dollar Catalysts
The local bourse continued its sell-off, dragged down by Utilities and Construction heavyweights. While US PPI data came in softer, Wall Street closed mixed ahead of another inflation data release tonight, where we foresee softer data would indicate easing inflationary pressure, in turn boosting the sentiment in both global and local markets. In the commodities market, Brent crude oil retreated due to profit-taking, trading around USD79/barrel, while gold rebounded to USD2,670/ounce after the softer PPI data. CPO prices hovering around RM4,450, closing the gap from the previous day's trading session.
Sector Focus: Despite Brent oil retreated on profit-taking, we believe the recent announcement of Yinson receiving USD1bn in CapEx could lift sentiment in the Energy sector. With the recent announcement from President Biden limiting AI chip exports to Malaysia, which may cap the upside on the Technology sector, we see trading opportunities in the oversold EMS, OSAT, and ATE players, benefiting from the 'stronger for longer' dollar outlook. Besides, we expect buying opportunities to emerge in the Construction sector, as there are still several packages yet to be announced after Gamuda won the Penang LRT contract, while Property players with large landbanks in Johor could benefit from the JSSEZ initiatives.
Stocks to watch:
Technology: *CUSCAPI*, *RAMSSOL*
Utility: *KJTS*, MALAKOF
Construction: *BNASTRA*
Automotive: BETA
Source: M+
👍8
M+ Market Wrap - 15Jan25
FBM KLCI: 1,562.12 pts (-14.34pts, -0.91%)
The FBMKLCI (-0.91%) lost its early momentum as market participants remained cautious ahead of the U.S. inflation data set to be released tonight. Market breadth was negative, with 964 decliners against 193 gainers. All sectors ended red, with the Construction sector (-4.80%) declined the most, marking another losing streak of six consecutive days, led by losses in both GAMUDA (-27.0 sen) and IJM (-16.0 sen), as both have fallen below the 50-day EMA.
Top 3 Active stocks:
EAH (0154): RM0.005 (unch)
MYEG (0138): RM0.890 (-4.5 sen)
GAMUDA (5398): RM4.450 (-27.0 sen)
Volume: 3.41 bn (100-bar avg vol: 3.01 bn)
Value: RM3.08 bn (100-bar avg val: RM2.81 bn)
Market Breadth: ⬆️193 ⬇️964
Crude palm oil: RM4,345 (-RM92)
Dow Futures: 42,793 pts (+41 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,562.12 pts (-14.34pts, -0.91%)
The FBMKLCI (-0.91%) lost its early momentum as market participants remained cautious ahead of the U.S. inflation data set to be released tonight. Market breadth was negative, with 964 decliners against 193 gainers. All sectors ended red, with the Construction sector (-4.80%) declined the most, marking another losing streak of six consecutive days, led by losses in both GAMUDA (-27.0 sen) and IJM (-16.0 sen), as both have fallen below the 50-day EMA.
Top 3 Active stocks:
EAH (0154): RM0.005 (unch)
MYEG (0138): RM0.890 (-4.5 sen)
GAMUDA (5398): RM4.450 (-27.0 sen)
Volume: 3.41 bn (100-bar avg vol: 3.01 bn)
Value: RM3.08 bn (100-bar avg val: RM2.81 bn)
Market Breadth: ⬆️193 ⬇️964
Crude palm oil: RM4,345 (-RM92)
Dow Futures: 42,793 pts (+41 pts)
**Source: Bloomberg, M+**
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M+ Morning Market Buzz - 16Jan25
Dow Jones: 43,221.55 pts (+703.27pts, +1.65%)
⬆️ Resistance: 44200
⬇️ Support: 41100
FBM KLCI: 1,562.12 pts (-14.34pts, -0.91%)
⬆️ Resistance: 1660
⬇️ Support: 1530
HSI Index: 19,286.07 pts (+66.29pts, +0.34%)
⬆️ Resistance: 19800
⬇️ Support: 18300
Crude Palm Oil: RM4,268 (-RM4, -0.09%)
⬆️ Resistance: 4640
⬇️ Support: 4150
Brent Oil: $79.92 (+$2.54, +3.18%)
⬆️ Resistance: 84.30
⬇️ Support: 74.20
Gold: $2,696.32 (-$2.11, -0.08%)
⬆️ Resistance: 2760
⬇️ Support: 2610
Source: Bloomberg, M+
Dow Jones: 43,221.55 pts (+703.27pts, +1.65%)
⬆️ Resistance: 44200
⬇️ Support: 41100
FBM KLCI: 1,562.12 pts (-14.34pts, -0.91%)
⬆️ Resistance: 1660
⬇️ Support: 1530
HSI Index: 19,286.07 pts (+66.29pts, +0.34%)
⬆️ Resistance: 19800
⬇️ Support: 18300
Crude Palm Oil: RM4,268 (-RM4, -0.09%)
⬆️ Resistance: 4640
⬇️ Support: 4150
Brent Oil: $79.92 (+$2.54, +3.18%)
⬆️ Resistance: 84.30
⬇️ Support: 74.20
Gold: $2,696.32 (-$2.11, -0.08%)
⬆️ Resistance: 2760
⬇️ Support: 2610
Source: Bloomberg, M+
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M+ Market Update – 16Jan25
Bargain Hunting Activities To Emerge
The local bourse failed to hold onto its morning gains, dragged down by Construction heavyweights. While the CPI data met expectations, core CPI came in cooler-than-expected, suggesting easing inflationary pressure. This development boosted sentiment on Wall Street, as the market now will be pricing in more rate cuts moving forward. Besides, traders will closely monitor key economic data later this week, including (i) Retail Sales, (ii) Core Retail Sales, and (iii) Unemployment Claims. In the commodities market, Brent crude surged above USD82/barrel, while Gold closed above the USD2,690 level. CPO prices retreated to RM4,264.
Sector Focus: Overall, we believe buying opportunities could emerge in the Energy sector, driven by stronger crude oil prices after the US sanctions on Russian oil and Yinson receiving USD1bn for further CapEx. Given the rebound in the US driven by cooler inflationary pressure, coupled with an elevated dollar environment, we believe the bargain hunting activities may emerge on the local front, within the Technology sector, benefiting also the EMS segment despite the recent announcement from President Biden curbing export of AI Chips. We also like the Construction and Property sectors, supported by developments such as (i) the Penang LRT project and (ii) initiatives under JSSEZ.
Stocks to watch:
Technology: *ITMAX*
Utility: *KJTS*
Property: *VLB*
Construction: *SENDAI*
Healthcare: KAREX
Source: M+
Bargain Hunting Activities To Emerge
The local bourse failed to hold onto its morning gains, dragged down by Construction heavyweights. While the CPI data met expectations, core CPI came in cooler-than-expected, suggesting easing inflationary pressure. This development boosted sentiment on Wall Street, as the market now will be pricing in more rate cuts moving forward. Besides, traders will closely monitor key economic data later this week, including (i) Retail Sales, (ii) Core Retail Sales, and (iii) Unemployment Claims. In the commodities market, Brent crude surged above USD82/barrel, while Gold closed above the USD2,690 level. CPO prices retreated to RM4,264.
Sector Focus: Overall, we believe buying opportunities could emerge in the Energy sector, driven by stronger crude oil prices after the US sanctions on Russian oil and Yinson receiving USD1bn for further CapEx. Given the rebound in the US driven by cooler inflationary pressure, coupled with an elevated dollar environment, we believe the bargain hunting activities may emerge on the local front, within the Technology sector, benefiting also the EMS segment despite the recent announcement from President Biden curbing export of AI Chips. We also like the Construction and Property sectors, supported by developments such as (i) the Penang LRT project and (ii) initiatives under JSSEZ.
Stocks to watch:
Technology: *ITMAX*
Utility: *KJTS*
Property: *VLB*
Construction: *SENDAI*
Healthcare: KAREX
Source: M+
👍4
M+ Market Wrap - 16Jan25
FBM KLCI: 1,555.54 pts (-6.58pts, -0.42%)
Bucking the positive sentiment in the regional markets, the FBMKLCI (-0.42%) closed lower on another losing streak, as Utilities and Construction heavyweights failed to hold onto its gains during the morning session. Market breadth was negative with 525 decliners against 480 gainers. Technology sector (+1.76%) outperformed, with buying interest was observed in oversold stocks like INARI (+11.0 sen) and VITROX (+16.0 sen) while the Construction sector (-3.58%) declined the most.
Top 3 Active stocks:
CBHB (0339): RM0.335 (+5.5 sen)
TWL (7079): RM0.025 (unch)
GAMUDA (5398): RM4.260 (-19.0 sen)
Volume: 3.61 bn (100-bar avg vol: 3.01 bn)
Value: RM3.16 bn (100-bar avg val: RM2.81 bn)
Market Breadth: ⬆️480 ⬇️525
Crude palm oil: RM4,174 (-RM94)
Dow Futures: 43,451 pts (-15 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,555.54 pts (-6.58pts, -0.42%)
Bucking the positive sentiment in the regional markets, the FBMKLCI (-0.42%) closed lower on another losing streak, as Utilities and Construction heavyweights failed to hold onto its gains during the morning session. Market breadth was negative with 525 decliners against 480 gainers. Technology sector (+1.76%) outperformed, with buying interest was observed in oversold stocks like INARI (+11.0 sen) and VITROX (+16.0 sen) while the Construction sector (-3.58%) declined the most.
Top 3 Active stocks:
CBHB (0339): RM0.335 (+5.5 sen)
TWL (7079): RM0.025 (unch)
GAMUDA (5398): RM4.260 (-19.0 sen)
Volume: 3.61 bn (100-bar avg vol: 3.01 bn)
Value: RM3.16 bn (100-bar avg val: RM2.81 bn)
Market Breadth: ⬆️480 ⬇️525
Crude palm oil: RM4,174 (-RM94)
Dow Futures: 43,451 pts (-15 pts)
**Source: Bloomberg, M+**
👍1
M+ Morning Market Buzz - 17Jan25
Dow Jones: 43,153.13 pts (-68.42pts, -0.16%)
⬆️ Resistance: 44200
⬇️ Support: 41100
FBM KLCI: 1,555.54 pts (-6.58pts, -0.42%)
⬆️ Resistance: 1640
⬇️ Support: 1530
HSI Index: 19,522.89 pts (+236.82pts, +1.23%)
⬆️ Resistance: 20100
⬇️ Support: 18300
Crude Palm Oil: RM4,186 (-RM78, -1.86%)
⬆️ Resistance: 4640
⬇️ Support: 4090
Brent Oil: $82.03 (-$0.68, -0.83%)
⬆️ Resistance: 84.30
⬇️ Support: 75.50
Gold: $2,714.31 (-$0.24, -0.01%)
⬆️ Resistance: 2780
⬇️ Support: 2610
Source: Bloomberg, M+
Dow Jones: 43,153.13 pts (-68.42pts, -0.16%)
⬆️ Resistance: 44200
⬇️ Support: 41100
FBM KLCI: 1,555.54 pts (-6.58pts, -0.42%)
⬆️ Resistance: 1640
⬇️ Support: 1530
HSI Index: 19,522.89 pts (+236.82pts, +1.23%)
⬆️ Resistance: 20100
⬇️ Support: 18300
Crude Palm Oil: RM4,186 (-RM78, -1.86%)
⬆️ Resistance: 4640
⬇️ Support: 4090
Brent Oil: $82.03 (-$0.68, -0.83%)
⬆️ Resistance: 84.30
⬇️ Support: 75.50
Gold: $2,714.31 (-$0.24, -0.01%)
⬆️ Resistance: 2780
⬇️ Support: 2610
Source: Bloomberg, M+
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M+ Market Update – 17Jan25
Stocks Approaching Oversold Levels
The local bourse closed lower, dragged down by a continuous sell-off in Construction and Utilities heavyweights. In the US, higher-than-expected unemployment claims, coupled with softer-than-anticipated retail and core retail sales, spooked the market and contributed to the selling pressure on Wall Street. Traders will be monitoring the key Chinese economic data including GDP, industrial production, and retail sales, that will be released later today. In the commodities market, Brent crude is hovering above USD81 per barrel, while gold prices traded positively above USD2700. CPO prices continue to decline near the RM4100 level despite the new Indonesia export policies.
Sector Focus: Despite the negative US overnight performance, we believe the bargain hunting activities could emerge as stocks have been beaten down to oversold levels. Besides, we see trading opportunities in the Energy sector, which could benefit from the spike in Brent crude oil. Technology stocks may also attract interest given the elevated USD environment. Meanwhile, there could be a shift from data center theme to state-specific trading catalyst after the recent selldown, where the Penang LRT development and JSSEZ may boost the Construction and Property sectors in the near to mid-term.
Stocks to watch:
Technology: *MI*, *RAMSSOL*, SMRT
O&G: *ARMADA*, *KEYFIELD*
Source: M+
Stocks Approaching Oversold Levels
The local bourse closed lower, dragged down by a continuous sell-off in Construction and Utilities heavyweights. In the US, higher-than-expected unemployment claims, coupled with softer-than-anticipated retail and core retail sales, spooked the market and contributed to the selling pressure on Wall Street. Traders will be monitoring the key Chinese economic data including GDP, industrial production, and retail sales, that will be released later today. In the commodities market, Brent crude is hovering above USD81 per barrel, while gold prices traded positively above USD2700. CPO prices continue to decline near the RM4100 level despite the new Indonesia export policies.
Sector Focus: Despite the negative US overnight performance, we believe the bargain hunting activities could emerge as stocks have been beaten down to oversold levels. Besides, we see trading opportunities in the Energy sector, which could benefit from the spike in Brent crude oil. Technology stocks may also attract interest given the elevated USD environment. Meanwhile, there could be a shift from data center theme to state-specific trading catalyst after the recent selldown, where the Penang LRT development and JSSEZ may boost the Construction and Property sectors in the near to mid-term.
Stocks to watch:
Technology: *MI*, *RAMSSOL*, SMRT
O&G: *ARMADA*, *KEYFIELD*
Source: M+
👍1
M+ Market Wrap - 17Jan25
FBM KLCI: 1,566.72 pts (+11.18pts, +0.72%)
The FBMKLCI (+0.72%) closed higher after China, the world’s second-largest economy, posted stronger-than-anticipated economic growth, helped by a flurry of stimulus measures; boosting sentiment on the global markets. Market breadth was positive, with 549 gainers compared to 433 losers. The Technology sector (+1.13%) managed to rebound, buoyed by gains in FRONTKN (+11.0 sen) and MYEG (+2.0 sen), while the REIT sector (-0.22%) declined the most.
Top 3 Active stocks:
GAMUDA (5398): RM4.240 (-2.0 sen)
SALUTE (0183): RM0.265 (-15.5 sen)
VELESTO (5243): RM0.185 (+2.0 sen)
Volume: 3.11 bn (100-bar avg vol: 3.02 bn)
Value: RM3.07 bn (100-bar avg val: RM2.81 bn)
Market Breadth: ⬆️549 ⬇️433
Crude palm oil: RM4,178 (-RM8)
Dow Futures: 43,488 pts (+116 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,566.72 pts (+11.18pts, +0.72%)
The FBMKLCI (+0.72%) closed higher after China, the world’s second-largest economy, posted stronger-than-anticipated economic growth, helped by a flurry of stimulus measures; boosting sentiment on the global markets. Market breadth was positive, with 549 gainers compared to 433 losers. The Technology sector (+1.13%) managed to rebound, buoyed by gains in FRONTKN (+11.0 sen) and MYEG (+2.0 sen), while the REIT sector (-0.22%) declined the most.
Top 3 Active stocks:
GAMUDA (5398): RM4.240 (-2.0 sen)
SALUTE (0183): RM0.265 (-15.5 sen)
VELESTO (5243): RM0.185 (+2.0 sen)
Volume: 3.11 bn (100-bar avg vol: 3.02 bn)
Value: RM3.07 bn (100-bar avg val: RM2.81 bn)
Market Breadth: ⬆️549 ⬇️433
Crude palm oil: RM4,178 (-RM8)
Dow Futures: 43,488 pts (+116 pts)
**Source: Bloomberg, M+**
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M+ Morning Market Buzz - 20Jan25
Dow Jones: 43,487.83 pts (+334.70pts, +0.78%)
⬆️ Resistance: 44600
⬇️ Support: 41100
FBM KLCI: 1,566.72 pts (+11.18pts, +0.72%)
⬆️ Resistance: 1640
⬇️ Support: 1520
HSI Index: 19,584.06 pts (+61.17pts, +0.31%)
⬆️ Resistance: 20100
⬇️ Support: 18300
Crude Palm Oil: RM4,190 (+RM4, +0.10%)
⬆️ Resistance: 4640
⬇️ Support: 4030
Brent Oil: $80.79 (+$0.17, +0.21%)
⬆️ Resistance: 84.30
⬇️ Support: 78.10
Gold: $2,703.25 (-$5.80, -0.21%)
⬆️ Resistance: 2780
⬇️ Support: 2610
Source: Bloomberg, M+
Dow Jones: 43,487.83 pts (+334.70pts, +0.78%)
⬆️ Resistance: 44600
⬇️ Support: 41100
FBM KLCI: 1,566.72 pts (+11.18pts, +0.72%)
⬆️ Resistance: 1640
⬇️ Support: 1520
HSI Index: 19,584.06 pts (+61.17pts, +0.31%)
⬆️ Resistance: 20100
⬇️ Support: 18300
Crude Palm Oil: RM4,190 (+RM4, +0.10%)
⬆️ Resistance: 4640
⬇️ Support: 4030
Brent Oil: $80.79 (+$0.17, +0.21%)
⬆️ Resistance: 84.30
⬇️ Support: 78.10
Gold: $2,703.25 (-$5.80, -0.21%)
⬆️ Resistance: 2780
⬇️ Support: 2610
Source: Bloomberg, M+
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