M+ Market Update – 27Mar25
Expect A Positive Close For The Week
US: Following weakening consumer power, Wall Street's risk-off sentiment persists, with a sell-off observed in the Magnificent-7 stocks after President Trump announced another 25% tariff on automotive imports in which could potentially hurt the end consumers. Also, we believe it will trigger more retaliatory actions from US trading partners. As GDPNow model estimates a -1.8% real GDP growth for 1Q25, and with the final GDP figures set to be released tonight, further downside risks for US stocks could emerge. Thus, traders may favour Gold, with prices likely to remain above the USD 3,000 psychological level. Brent oil gained momentum, rising towards USD73 per barrel, while CPO prices traded in a tight range at RM4,277.
MY: Traders may focus on the O&G sector amid (i) the US imposing 25% tariffs on Venezuela’s trading partners, and (ii) the US maximum pressure on Iran should support near-term oil prices. Besides, we remain positive on Aumas, as we believe the momentum for gold price may persist in the near term, driven by ongoing uncertainties surrounding US trade policies and concerns over weakening US consumers’ sentiment. Meanwhile, despite ITMAX’s high valuation, we maintain our positive stance, supported by its recent contract wins with the Pengerang Municipal Council, combined with its growth prospects in Penang.
Stocks to watch:
Utility: *BMGREEN*, KJTS
Property: *ECOWLD*
Technology: *KGB*
Consumer: *KOPI*
Commodity: *MSC*
Plantation: TSH
Source: M+
Expect A Positive Close For The Week
US: Following weakening consumer power, Wall Street's risk-off sentiment persists, with a sell-off observed in the Magnificent-7 stocks after President Trump announced another 25% tariff on automotive imports in which could potentially hurt the end consumers. Also, we believe it will trigger more retaliatory actions from US trading partners. As GDPNow model estimates a -1.8% real GDP growth for 1Q25, and with the final GDP figures set to be released tonight, further downside risks for US stocks could emerge. Thus, traders may favour Gold, with prices likely to remain above the USD 3,000 psychological level. Brent oil gained momentum, rising towards USD73 per barrel, while CPO prices traded in a tight range at RM4,277.
MY: Traders may focus on the O&G sector amid (i) the US imposing 25% tariffs on Venezuela’s trading partners, and (ii) the US maximum pressure on Iran should support near-term oil prices. Besides, we remain positive on Aumas, as we believe the momentum for gold price may persist in the near term, driven by ongoing uncertainties surrounding US trade policies and concerns over weakening US consumers’ sentiment. Meanwhile, despite ITMAX’s high valuation, we maintain our positive stance, supported by its recent contract wins with the Pengerang Municipal Council, combined with its growth prospects in Penang.
Stocks to watch:
Utility: *BMGREEN*, KJTS
Property: *ECOWLD*
Technology: *KGB*
Consumer: *KOPI*
Commodity: *MSC*
Plantation: TSH
Source: M+
👍8
M+ Morning Market Buzz - 28Mar25
Dow Jones: 42,299.70 pts (-155.09pts, -0.37%)
⬆ Resistance: 43700
⬇ Support: 40700
FBM KLCI: 1,535.73 pts (+17.68pts, +1.16%)
⬆ Resistance: 1570
⬇ Support: 1480
HSI Index: 23,578.80 pts (+95.48pts, +0.41%)
⬆ Resistance: 24800
⬇ Support: 22900
Crude Palm Oil: RM4,312 (+RM78, +1.81%)
⬆ Resistance: 4520
⬇ Support: 4150
Brent Oil: $74.03 (+$0.24, +0.33%)
⬆ Resistance: 75.70
⬇ Support: 70.10
Gold: $3,057.29 (-$2.16, -0.02%)
⬆ Resistance: 3130
⬇ Support: 2940
Source: Bloomberg, M+
Dow Jones: 42,299.70 pts (-155.09pts, -0.37%)
⬆ Resistance: 43700
⬇ Support: 40700
FBM KLCI: 1,535.73 pts (+17.68pts, +1.16%)
⬆ Resistance: 1570
⬇ Support: 1480
HSI Index: 23,578.80 pts (+95.48pts, +0.41%)
⬆ Resistance: 24800
⬇ Support: 22900
Crude Palm Oil: RM4,312 (+RM78, +1.81%)
⬆ Resistance: 4520
⬇ Support: 4150
Brent Oil: $74.03 (+$0.24, +0.33%)
⬆ Resistance: 75.70
⬇ Support: 70.10
Gold: $3,057.29 (-$2.16, -0.02%)
⬆ Resistance: 3130
⬇ Support: 2940
Source: Bloomberg, M+
👍4
M+ Market Update – 28Mar25
Quarterly Window Dressing To Lift Sentiment
US: Although US GDP grew at higher-than-expected pace QoQ and unemployment claims came in within expectations, risk-off sentiment could persist on Wall Street amid concerns over weakening consumer sentiment and uncertainties surrounding President Trump’s trade policies in which potentially could (i) exert upward pressure on inflation, (ii) trigger retaliatory actions from trading partners, and (iii) impact global economic growth. Also, market participants will closely track Trump’s actions on April 2nd regarding further tariff plans. In the commodities market, Brent oil traded flat at USD73 a barrel, while gold surged toward the all-time high level of USD3,059. Meanwhile, CPO prices gapped up to RM4,390.
MY: Despite the US ended in the red, we expect window dressing activities to support the market on the local front. We also maintain our positive stance on the O&G sector driven by the U.S.'s maximum pressure campaign on Iran’s oil industry, which could further support Brent oil prices. Meanwhile, traders may focus on Wesports, as we believe its DRP-funded CapEx should drive growth over the mid to long-term despite the delay in port tariffs. Lastly, we deemed LSH Capital (M+ FV: RM1.60) as undervalued, given its revenue growth prospects, supported by a strong order book cover ratio of more than 3x.
Stocks to watch:
Utility: *GASMSIA*, KJTS, SCGBHD
Construction: GAMUDA, *SUNCON*
Logistics: *WPRTS*
Healthcare: *KPJ*
Technology: *RAMSSOL*
Financial: OSK
Consumer: KOPI
Source: M+
Quarterly Window Dressing To Lift Sentiment
US: Although US GDP grew at higher-than-expected pace QoQ and unemployment claims came in within expectations, risk-off sentiment could persist on Wall Street amid concerns over weakening consumer sentiment and uncertainties surrounding President Trump’s trade policies in which potentially could (i) exert upward pressure on inflation, (ii) trigger retaliatory actions from trading partners, and (iii) impact global economic growth. Also, market participants will closely track Trump’s actions on April 2nd regarding further tariff plans. In the commodities market, Brent oil traded flat at USD73 a barrel, while gold surged toward the all-time high level of USD3,059. Meanwhile, CPO prices gapped up to RM4,390.
MY: Despite the US ended in the red, we expect window dressing activities to support the market on the local front. We also maintain our positive stance on the O&G sector driven by the U.S.'s maximum pressure campaign on Iran’s oil industry, which could further support Brent oil prices. Meanwhile, traders may focus on Wesports, as we believe its DRP-funded CapEx should drive growth over the mid to long-term despite the delay in port tariffs. Lastly, we deemed LSH Capital (M+ FV: RM1.60) as undervalued, given its revenue growth prospects, supported by a strong order book cover ratio of more than 3x.
Stocks to watch:
Utility: *GASMSIA*, KJTS, SCGBHD
Construction: GAMUDA, *SUNCON*
Logistics: *WPRTS*
Healthcare: *KPJ*
Technology: *RAMSSOL*
Financial: OSK
Consumer: KOPI
Source: M+
👍6🥰1
M+ Market Wrap - 28Mar25
FBM KLCI: 1,513.65 pts (-22.08pts, -1.44%)
The FBMKLCI (-1.44%) snapped its three-day winning streak as Banking heavyweights dampened sentiment on the local bourse; investors reduced exposure ahead of the Hari Raya holiday and the April 2nd Trump tariff action plans. Market breadth was negative, with losers outpacing gainers by 563-to-395 stocks. In the broader market, while all sectors traded negatively, Transportation & Logistics stocks (+1.32%) outperformed, led by MISC (+6.0 sen) and HEXTECH (+8.0 sen).
Top 3 Active stocks:
PERMAJU (7080): RM0.040 (+1.0 sen)
SAPNRG (5218): RM0.050 (unch)
HI (5335): RM1.330 (+11.0 sen)
Volume: 2.25 bn (100-bar avg vol: 2.99 bn)
Value: RM2.13 bn (100-bar avg val: RM2.62 bn)
Market Breadth: ⬆️395⬇️563
Crude palm oil: RM4,419 (+RM107)
Dow Futures: 42,538 pts (-64 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,513.65 pts (-22.08pts, -1.44%)
The FBMKLCI (-1.44%) snapped its three-day winning streak as Banking heavyweights dampened sentiment on the local bourse; investors reduced exposure ahead of the Hari Raya holiday and the April 2nd Trump tariff action plans. Market breadth was negative, with losers outpacing gainers by 563-to-395 stocks. In the broader market, while all sectors traded negatively, Transportation & Logistics stocks (+1.32%) outperformed, led by MISC (+6.0 sen) and HEXTECH (+8.0 sen).
Top 3 Active stocks:
PERMAJU (7080): RM0.040 (+1.0 sen)
SAPNRG (5218): RM0.050 (unch)
HI (5335): RM1.330 (+11.0 sen)
Volume: 2.25 bn (100-bar avg vol: 2.99 bn)
Value: RM2.13 bn (100-bar avg val: RM2.62 bn)
Market Breadth: ⬆️395⬇️563
Crude palm oil: RM4,419 (+RM107)
Dow Futures: 42,538 pts (-64 pts)
**Source: Bloomberg, M+**
👍6
Good Morning All,
Here’s our IPO note on CUCKOO International (MAL) Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM1.53 per share for CUCKOO International (MAL) Berhad, representing a 18.6% upside from the IPO price of RM1.29. This valuation is based on a P/E ratio of 14.0x, pegged to the mid-FY26F EPS of 10.96 sen. We believe the ascribed PE is fair as the peer average P/E and forward P/E ratio stood at 12.0-20.7x. On top of that, CUCKOO showed an impressive ROE and NP margin of 13.0% and 9.0%, outperforming its peers’ average of 0.5% and 0.1% respectively
Investment highlights include:
(i) Strong brand presence across the country
(ii) Omni-channel distribution for wider geographical coverage
(iii) Decent market share
(iv) Strong and incentivized sales and service network
(v) Product portfolio expansion for a larger Malaysian market
(vi) New Brandshops for greater brand engagement
(vii) Stronger presence in Singapore
(viii) Capitalizing on the growing rental industry for home appliances.
Research Team, M+
31 Mar 2025
Here’s our IPO note on CUCKOO International (MAL) Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM1.53 per share for CUCKOO International (MAL) Berhad, representing a 18.6% upside from the IPO price of RM1.29. This valuation is based on a P/E ratio of 14.0x, pegged to the mid-FY26F EPS of 10.96 sen. We believe the ascribed PE is fair as the peer average P/E and forward P/E ratio stood at 12.0-20.7x. On top of that, CUCKOO showed an impressive ROE and NP margin of 13.0% and 9.0%, outperforming its peers’ average of 0.5% and 0.1% respectively
Investment highlights include:
(i) Strong brand presence across the country
(ii) Omni-channel distribution for wider geographical coverage
(iii) Decent market share
(iv) Strong and incentivized sales and service network
(v) Product portfolio expansion for a larger Malaysian market
(vi) New Brandshops for greater brand engagement
(vii) Stronger presence in Singapore
(viii) Capitalizing on the growing rental industry for home appliances.
Research Team, M+
31 Mar 2025
👍6
M+ Morning Market Buzz - 2Apr25
Dow Jones: 41,989.96 pts (-11.80pts, -0.03%)
⬆️ Resistance: 43700
⬇️ Support: 40400
FBM KLCI: 1,513.65 pts (-22.08pts, -1.44%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 23,206.84 pts (+87.26pts, +0.38%)
⬆️ Resistance: 24400
⬇️ Support: 22600
Crude Palm Oil: RM4,419 (+RM107, +2.48%)
⬆️ Resistance: 4530
⬇️ Support: 4150
Brent Oil: $74.49 (-$0.28, -0.37%)
⬆️ Resistance: 76.80
⬇️ Support: 71.70
Gold: $3,113.38 (-$0.30, -0.01%)
⬆️ Resistance: 3220
⬇️ Support: 2960
Source: Bloomberg, M+
Dow Jones: 41,989.96 pts (-11.80pts, -0.03%)
⬆️ Resistance: 43700
⬇️ Support: 40400
FBM KLCI: 1,513.65 pts (-22.08pts, -1.44%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 23,206.84 pts (+87.26pts, +0.38%)
⬆️ Resistance: 24400
⬇️ Support: 22600
Crude Palm Oil: RM4,419 (+RM107, +2.48%)
⬆️ Resistance: 4530
⬇️ Support: 4150
Brent Oil: $74.49 (-$0.28, -0.37%)
⬆️ Resistance: 76.80
⬇️ Support: 71.70
Gold: $3,113.38 (-$0.30, -0.01%)
⬆️ Resistance: 3220
⬇️ Support: 2960
Source: Bloomberg, M+
👍2
M+ Market Update – 02Apr25
Cautious Ahead Of Blanket Tariffs Announcement
US: Despite heightened market risk ahead of President Trump’s April 2nd tariff announcements, Wall Street ended broadly positive; the Dow ended flat at 0.03%, while both S&P 500 and NASDAQ gained 0.4% and 0.9%, respectively. Goldman Sachs increased its US recession probability from 20% to 35%, citing an expected rise in average tariff rates to 15%. Investors will also continue to track the (i) initial jobless claims, (ii) ISM non-manufacturing PMI (Mar), and (iii) non-farm payroll (Mar) for the remainder of the week. In the commodities market, Brent oil continued to hover above USD74/barrel, while gold prices reached an all-time high of USD3,149. Meanwhile, CPO is trading at RM4,419/tonne.
MY: Despite the generally positive Wall Street and regional markets’ performance, we believe the local bourse to trade lacklustre due to the shortened trading week and the impending blanket tariffs on April 2nd. Hence, investors might shift their focus toward sectors less impacted by the reciprocal tariffs, such as Utilities and Consumer Products & Services. Meanwhile, investors may also consider the upcoming IPO, CUCKOO International (MAL) Berhad (M+ TP: RM1.53), which has a strong brand presence nationwide and is currently expanding its product portfolio to capture a larger share of the Malaysian market.
Stocks to watch:
Utility: *GASMSIA*, KJTS, *MNHLDG*
Gold: AUMAS, *POHKONG*
Property: *ECOWLD*
Technology: *ITMAX*
Consumer: *RGB*
Construction: SUNCON
Financial: KENANGA
Source: M+
Cautious Ahead Of Blanket Tariffs Announcement
US: Despite heightened market risk ahead of President Trump’s April 2nd tariff announcements, Wall Street ended broadly positive; the Dow ended flat at 0.03%, while both S&P 500 and NASDAQ gained 0.4% and 0.9%, respectively. Goldman Sachs increased its US recession probability from 20% to 35%, citing an expected rise in average tariff rates to 15%. Investors will also continue to track the (i) initial jobless claims, (ii) ISM non-manufacturing PMI (Mar), and (iii) non-farm payroll (Mar) for the remainder of the week. In the commodities market, Brent oil continued to hover above USD74/barrel, while gold prices reached an all-time high of USD3,149. Meanwhile, CPO is trading at RM4,419/tonne.
MY: Despite the generally positive Wall Street and regional markets’ performance, we believe the local bourse to trade lacklustre due to the shortened trading week and the impending blanket tariffs on April 2nd. Hence, investors might shift their focus toward sectors less impacted by the reciprocal tariffs, such as Utilities and Consumer Products & Services. Meanwhile, investors may also consider the upcoming IPO, CUCKOO International (MAL) Berhad (M+ TP: RM1.53), which has a strong brand presence nationwide and is currently expanding its product portfolio to capture a larger share of the Malaysian market.
Stocks to watch:
Utility: *GASMSIA*, KJTS, *MNHLDG*
Gold: AUMAS, *POHKONG*
Property: *ECOWLD*
Technology: *ITMAX*
Consumer: *RGB*
Construction: SUNCON
Financial: KENANGA
Source: M+
👍6
M+ Market Wrap - 2Apr25
FBM KLCI: 1,526.52 pts (+12.87pts, +0.85%)
The FBMKLCI (+0.85%) resumed from its long holiday with decent daily gains, closing higher at 1,526.52 pts, as buying interest in key heavyweights like MAYBANK (+20.0 sen) and TENAGA (+38.0 sen) led the key index higher. Nonetheless, the market breadth remained negative ahead of Trump’s April 2nd tariff plans, with 637 losers against 288 winners. In the broader market, the Financial Services (+1.02%) sector outperformed following BNM’s net profit surge, while the Technology (-1.89%) sector saw the largest decline.
Top 3 Active stocks:
VELOCITY (7165): RM0.085 (-0.5 sen)
T7GLOBAL (7228): RM0.320 (-18.0 sen)
TAWIN (7097): RM0.025 (-0.5 sen)
Volume: 2.37 bn (100-bar avg vol: 3.00 bn)
Value: RM2.03 bn (100-bar avg val: RM2.61 bn)
Market Breadth: ⬆️288⬇️637
Crude palm oil: RM4,515 (+RM96)
Dow Futures: 42,161 pts (-80 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,526.52 pts (+12.87pts, +0.85%)
The FBMKLCI (+0.85%) resumed from its long holiday with decent daily gains, closing higher at 1,526.52 pts, as buying interest in key heavyweights like MAYBANK (+20.0 sen) and TENAGA (+38.0 sen) led the key index higher. Nonetheless, the market breadth remained negative ahead of Trump’s April 2nd tariff plans, with 637 losers against 288 winners. In the broader market, the Financial Services (+1.02%) sector outperformed following BNM’s net profit surge, while the Technology (-1.89%) sector saw the largest decline.
Top 3 Active stocks:
VELOCITY (7165): RM0.085 (-0.5 sen)
T7GLOBAL (7228): RM0.320 (-18.0 sen)
TAWIN (7097): RM0.025 (-0.5 sen)
Volume: 2.37 bn (100-bar avg vol: 3.00 bn)
Value: RM2.03 bn (100-bar avg val: RM2.61 bn)
Market Breadth: ⬆️288⬇️637
Crude palm oil: RM4,515 (+RM96)
Dow Futures: 42,161 pts (-80 pts)
**Source: Bloomberg, M+**
👍3
M+ Morning Market Buzz - 3Apr25
Dow Jones: 42,225.32 pts (+235.36pts, +0.56%)
⬆️ Resistance: 43400
⬇️ Support: 40400
FBM KLCI: 1,526.52 pts (+12.87pts, +0.85%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 23,202.53 pts (-4.31pts, -0.02%)
⬆️ Resistance: 24400
⬇️ Support: 22600
Crude Palm Oil: RM4,517 (+RM1, +0.02%)
⬆️ Resistance: 4640
⬇️ Support: 4180
Brent Oil: $74.95 (+$0.46, +0.62%)
⬆️ Resistance: 77.00
⬇️ Support: 71.70
Gold: $3,134.17 (+$8.91, +0.28%)
⬆️ Resistance: 3220
⬇️ Support: 2960
Source: Bloomberg, M+
Dow Jones: 42,225.32 pts (+235.36pts, +0.56%)
⬆️ Resistance: 43400
⬇️ Support: 40400
FBM KLCI: 1,526.52 pts (+12.87pts, +0.85%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 23,202.53 pts (-4.31pts, -0.02%)
⬆️ Resistance: 24400
⬇️ Support: 22600
Crude Palm Oil: RM4,517 (+RM1, +0.02%)
⬆️ Resistance: 4640
⬇️ Support: 4180
Brent Oil: $74.95 (+$0.46, +0.62%)
⬆️ Resistance: 77.00
⬇️ Support: 71.70
Gold: $3,134.17 (+$8.91, +0.28%)
⬆️ Resistance: 3220
⬇️ Support: 2960
Source: Bloomberg, M+
👍3🥰1
M+ Market Update – 03Apr25
‘Liberation Day’ Tariffs Could Dampen Markets
US: Despite closing higher, Wall Street futures declined as President Trump unveiled reciprocal tariff plans, with S&P 500 and Nasdaq futures down 1.6% and 2.4% respectively (at the time of writing). The US will impose a minimum 10% reciprocal tariff on all imported goods starting April 5, while higher rates—equivalent to "half" of the tariffs levied on US exports—will apply to certain countries beginning April 9. In the commodities market, Brent oil is approaching USD75/barrel, while gold prices hover near their all-time high of USD3,149. Meanwhile, CPO is trading above RM4,500/tonne.
MY: We maintain our focus on sectors less affected by the reciprocal tariffs, such as Utilities and Consumer Products & Services, as President Trump imposed a 24% reciprocal tariff on Malaysia; we believe the sub-utility company like MNHLDG could continue benefiting from Tenaga’s contracts. Meanwhile, we also favour the banking sector, as the Malaysian economy is expected to grow at 4.5%-5.5% this year. Lastly, trading opportunities may persist in gold-related stocks as they have just started the sideways breakout formation, coupled with the gold prices sustaining their uptrend amid ongoing market volatility.
Stocks to watch:
Gold: *POHKONG*, *TOMEI*
Financial: *AMBANK*, KENANGA
O&G: *HAWK*
Utility: *MNHLDG*
Logistics: WPRTS
Consumer: KOPI
Construction: SUNCON
Source: M+
‘Liberation Day’ Tariffs Could Dampen Markets
US: Despite closing higher, Wall Street futures declined as President Trump unveiled reciprocal tariff plans, with S&P 500 and Nasdaq futures down 1.6% and 2.4% respectively (at the time of writing). The US will impose a minimum 10% reciprocal tariff on all imported goods starting April 5, while higher rates—equivalent to "half" of the tariffs levied on US exports—will apply to certain countries beginning April 9. In the commodities market, Brent oil is approaching USD75/barrel, while gold prices hover near their all-time high of USD3,149. Meanwhile, CPO is trading above RM4,500/tonne.
MY: We maintain our focus on sectors less affected by the reciprocal tariffs, such as Utilities and Consumer Products & Services, as President Trump imposed a 24% reciprocal tariff on Malaysia; we believe the sub-utility company like MNHLDG could continue benefiting from Tenaga’s contracts. Meanwhile, we also favour the banking sector, as the Malaysian economy is expected to grow at 4.5%-5.5% this year. Lastly, trading opportunities may persist in gold-related stocks as they have just started the sideways breakout formation, coupled with the gold prices sustaining their uptrend amid ongoing market volatility.
Stocks to watch:
Gold: *POHKONG*, *TOMEI*
Financial: *AMBANK*, KENANGA
O&G: *HAWK*
Utility: *MNHLDG*
Logistics: WPRTS
Consumer: KOPI
Construction: SUNCON
Source: M+
👍8
M+ Market Wrap - 3Apr25
FBM KLCI: 1,518.91 pts (-7.61pts, -0.50%)
Following President Trump’s reciprocal tariff implementation, most of the Asia-Pacific markets, including Malaysia, ended lower. The FBMKLCI (-0.50%) closed lower at 1,518.91 pts, dragged down by losses in key heavyweights such as PMETAL (-16.0 sen) and IHH (-14.0 sen). Market breadth was negative, with 548 losers against 357 winners. In the broader market, 11 out of 13 sectors closed in negative territory; Healthcare (+2.00%) was the best performer, as investors viewed heavier tariffs on Chinese gloves as a competitive advantage for local glove makers, while Technology (-1.62%) sector recorded the largest decline.
Top 3 Active stocks:
TOPGLOV (7113): RM0.845 (+4.0 sen)
SUPERMX (7106): RM0.775 (+6.0 sen)
SAPNRG (5218): RM0.045 (-0.5 sen)
Volume: 2.51 bn (100-bar avg vol: 3.00 bn)
Value: RM1.81 bn (100-bar avg val: RM2.61 bn)
Market Breadth: ⬆️357⬇️548
Crude palm oil: RM4,487 (-RM30)
Dow Futures: 41,457 pts (-1035 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,518.91 pts (-7.61pts, -0.50%)
Following President Trump’s reciprocal tariff implementation, most of the Asia-Pacific markets, including Malaysia, ended lower. The FBMKLCI (-0.50%) closed lower at 1,518.91 pts, dragged down by losses in key heavyweights such as PMETAL (-16.0 sen) and IHH (-14.0 sen). Market breadth was negative, with 548 losers against 357 winners. In the broader market, 11 out of 13 sectors closed in negative territory; Healthcare (+2.00%) was the best performer, as investors viewed heavier tariffs on Chinese gloves as a competitive advantage for local glove makers, while Technology (-1.62%) sector recorded the largest decline.
Top 3 Active stocks:
TOPGLOV (7113): RM0.845 (+4.0 sen)
SUPERMX (7106): RM0.775 (+6.0 sen)
SAPNRG (5218): RM0.045 (-0.5 sen)
Volume: 2.51 bn (100-bar avg vol: 3.00 bn)
Value: RM1.81 bn (100-bar avg val: RM2.61 bn)
Market Breadth: ⬆️357⬇️548
Crude palm oil: RM4,487 (-RM30)
Dow Futures: 41,457 pts (-1035 pts)
**Source: Bloomberg, M+**
👍4🥰1
M+ Morning Market Buzz - 4Apr25
Dow Jones: 40,545.93 pts (-1679.39pts, -3.98%)
⬆️ Resistance: 43300
⬇️ Support: 39800
FBM KLCI: 1,518.91 pts (-7.61pts, -0.50%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 22,849.81 pts (-352.72pts, -1.52%)
⬆️ Resistance: 24300
⬇️ Support: 22200
Crude Palm Oil: RM4,489 (-RM99, -2.21%)
⬆️ Resistance: 4640
⬇️ Support: 4260
Brent Oil: $70.14 (-$4.81, -6.42%)
⬆️ Resistance: 77.00
⬇️ Support: 68.10
Gold: $3,115.34 (-$0.23, -0.01%)
⬆️ Resistance: 3240
⬇️ Support: 3000
Source: Bloomberg, M+
Dow Jones: 40,545.93 pts (-1679.39pts, -3.98%)
⬆️ Resistance: 43300
⬇️ Support: 39800
FBM KLCI: 1,518.91 pts (-7.61pts, -0.50%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 22,849.81 pts (-352.72pts, -1.52%)
⬆️ Resistance: 24300
⬇️ Support: 22200
Crude Palm Oil: RM4,489 (-RM99, -2.21%)
⬆️ Resistance: 4640
⬇️ Support: 4260
Brent Oil: $70.14 (-$4.81, -6.42%)
⬆️ Resistance: 77.00
⬇️ Support: 68.10
Gold: $3,115.34 (-$0.23, -0.01%)
⬆️ Resistance: 3240
⬇️ Support: 3000
Source: Bloomberg, M+
👍2😁2💯1
M+ Market Update – 04Apr25
Negative Sentiment May Spillover To Local Bourse
US: President Trump’s sweeping tariff plans prompted sharp selloffs on Wall Street, citing unfair trade practices and currency manipulation among US trading partners. China will face an additional 34% tariff on top of its current 20% duties, while the EU, Japan, and others will face tariffs ranging from 20% to 49%. Although there may be room for negotiations, the higher-tariff environment and lingering uncertainty raise recession risks, sparking fears among investors. VIX index has spiked towards 30.02. In the commodities market, Brent oil dipped toward USD70.14/barrel, while gold prices traded flat around USD3,115. Meanwhile, CPO fell below RM4,500/tonne.
MY: As investors anticipate that heavier tariffs on Chinese gloves will benefit local glove players, we expect the rebound momentum to persist, supported by yesterday’s strong volume, suggesting bottom-fishing opportunities. Meanwhile, we maintain our view that investors will gravitate toward sectors that are less affected by reciprocal tariffs, including Utilities and Consumer Products & Services. Sub-utility company MNHLDG recently secured its largest direct contract from TENAGA worth RM137.8m, bringing its total order book to RM977.8m, and is likely to continue benefiting from TENAGA’s contracts. Lastly, investors may consider upcoming IPO MSB Global Bhd (M+ TP: RM0.260), which application closes today.
Stocks to watch:
Construction: BNASTRA, GAMUDA, *SUNCON*
Healthcare: HARTA, KOSSAN, *KPJ*
O&G: *HAWK*
Technology: *KGB*
Utility: *MNHLDG*
Financial: OSK
Source: M+
Negative Sentiment May Spillover To Local Bourse
US: President Trump’s sweeping tariff plans prompted sharp selloffs on Wall Street, citing unfair trade practices and currency manipulation among US trading partners. China will face an additional 34% tariff on top of its current 20% duties, while the EU, Japan, and others will face tariffs ranging from 20% to 49%. Although there may be room for negotiations, the higher-tariff environment and lingering uncertainty raise recession risks, sparking fears among investors. VIX index has spiked towards 30.02. In the commodities market, Brent oil dipped toward USD70.14/barrel, while gold prices traded flat around USD3,115. Meanwhile, CPO fell below RM4,500/tonne.
MY: As investors anticipate that heavier tariffs on Chinese gloves will benefit local glove players, we expect the rebound momentum to persist, supported by yesterday’s strong volume, suggesting bottom-fishing opportunities. Meanwhile, we maintain our view that investors will gravitate toward sectors that are less affected by reciprocal tariffs, including Utilities and Consumer Products & Services. Sub-utility company MNHLDG recently secured its largest direct contract from TENAGA worth RM137.8m, bringing its total order book to RM977.8m, and is likely to continue benefiting from TENAGA’s contracts. Lastly, investors may consider upcoming IPO MSB Global Bhd (M+ TP: RM0.260), which application closes today.
Stocks to watch:
Construction: BNASTRA, GAMUDA, *SUNCON*
Healthcare: HARTA, KOSSAN, *KPJ*
O&G: *HAWK*
Technology: *KGB*
Utility: *MNHLDG*
Financial: OSK
Source: M+
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2Q25 Market Chat
Tariff Twist: Malaysia Could Have Unexpected Advantage
https://tinyurl.com/35sak8cr
• Wall Street could face downside risk following President Trump’s announcement of reciprocal tariffs. However, this may simply be a bargaining tactic. If economic activity slows, it could pressure the Fed to cut rates going forward.
• Meanwhile, on the local front, we expect investors to adopt a domestic hideout strategy. Malaysia may have an unexpected advantage due to lower reciprocal tariffs in the ASEAN region—a potential "tariff twist." We anticipate that rising data center developments, along with the ongoing NETR and NIMP blueprints, will support Malaysia’s economic growth.
• We favour selected stocks in the Construction, Plantation, Utilities, Technology, Telco, Renewable Energy, Healthcare, Consumer, and Finance sectors.
2Q25 Stock picks:-
1. BNASTRA (S: RM1.53-1.64, R: RM2.0-2.10, CL: RM1.49)
2. SUNCON (S: RM4.07-4.33, R: RM5.02-5.28, CL: RM3.98)
3. MNHLDG (S: RM0.945-1.05, R: RM1.40-1.50, CL: RM0.920)
4. UTDPLT (S: RM20.0-21.0, R: RM24.0-25.0, CL: RM19.60)
5. INNO (S: RM1.63-1.69, R: RM1.93-2.0, CL: RM1.59)
6. GASMSIA (S: RM4.0-4.10, R: RM4.55-4.69, CL: RM3.92)
7. ITMAX (S: RM3.49-3.68, R: RM4.50-4.55, CL: RM3.42)
8. KGB (S: RM2.09-3.25, R: RM4.0-4.20, CL: RM2.04)
9. TIMECOM (S: RM4.70-4.90, R: RM5.60-5.80, CL: RM4.60)
10. PEKAT (S: RM1.0-1.05, R: RM1.24-1.29, CL: RM0.980)
11. KPJ (S: RM2.40-2.53, R: RM2.91-3.0, CL: RM2.35)
12. FOCUSP (S: RM0.710-0.750, R: RM0.940-0.980, CL: RM0.690)
13. KENANGA (S: RM0.900-0.950, R: RM1.09-1.13, CL: RM0.880)
S: Support, R: Resistance, CL: Cut loss
Source: M+
Tariff Twist: Malaysia Could Have Unexpected Advantage
https://tinyurl.com/35sak8cr
• Wall Street could face downside risk following President Trump’s announcement of reciprocal tariffs. However, this may simply be a bargaining tactic. If economic activity slows, it could pressure the Fed to cut rates going forward.
• Meanwhile, on the local front, we expect investors to adopt a domestic hideout strategy. Malaysia may have an unexpected advantage due to lower reciprocal tariffs in the ASEAN region—a potential "tariff twist." We anticipate that rising data center developments, along with the ongoing NETR and NIMP blueprints, will support Malaysia’s economic growth.
• We favour selected stocks in the Construction, Plantation, Utilities, Technology, Telco, Renewable Energy, Healthcare, Consumer, and Finance sectors.
2Q25 Stock picks:-
1. BNASTRA (S: RM1.53-1.64, R: RM2.0-2.10, CL: RM1.49)
2. SUNCON (S: RM4.07-4.33, R: RM5.02-5.28, CL: RM3.98)
3. MNHLDG (S: RM0.945-1.05, R: RM1.40-1.50, CL: RM0.920)
4. UTDPLT (S: RM20.0-21.0, R: RM24.0-25.0, CL: RM19.60)
5. INNO (S: RM1.63-1.69, R: RM1.93-2.0, CL: RM1.59)
6. GASMSIA (S: RM4.0-4.10, R: RM4.55-4.69, CL: RM3.92)
7. ITMAX (S: RM3.49-3.68, R: RM4.50-4.55, CL: RM3.42)
8. KGB (S: RM2.09-3.25, R: RM4.0-4.20, CL: RM2.04)
9. TIMECOM (S: RM4.70-4.90, R: RM5.60-5.80, CL: RM4.60)
10. PEKAT (S: RM1.0-1.05, R: RM1.24-1.29, CL: RM0.980)
11. KPJ (S: RM2.40-2.53, R: RM2.91-3.0, CL: RM2.35)
12. FOCUSP (S: RM0.710-0.750, R: RM0.940-0.980, CL: RM0.690)
13. KENANGA (S: RM0.900-0.950, R: RM1.09-1.13, CL: RM0.880)
S: Support, R: Resistance, CL: Cut loss
Source: M+
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M+ Market Wrap - 4Apr25
FBM KLCI: 1,504.14 pts (-14.77pts, -0.97%)
Selling pressure on FBMKLCI (-0.97%) persisted, closing lower at 1,504.14 pts, as losses in heavyweights like PCHEM (-20.0 sen) and CIMB (-12.0 sen) dragged the key index lower. The reciprocal tariffs imposed by the US are expected to hurt Malaysia’s export-oriented sectors, slowing economic growth, with economists cutting the country’s GDP forecast. Market breadth was negative, with 777 losers against 185 winners. In the broader market, all sectors closed in negative territory except REITs (+0.47%), while Technology (-3.81%) continued to record the largest decline.
Top 3 Active stocks:
SAPNRG (5218): RM0.045 (unch)
CIMB (1023): RM7.010 (-12.0 sen)
NEXG (5216): RM0.235 (-1.5 sen)
Volume: 1.81 bn (100-bar avg vol: 2.99 bn)
Value: RM1.89 bn (100-bar avg val: RM2.60 bn)
Market Breadth: ⬆️185⬇️777
Crude palm oil: RM4,335 (-RM154)
Dow Futures: 40,391 pts (-385 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,504.14 pts (-14.77pts, -0.97%)
Selling pressure on FBMKLCI (-0.97%) persisted, closing lower at 1,504.14 pts, as losses in heavyweights like PCHEM (-20.0 sen) and CIMB (-12.0 sen) dragged the key index lower. The reciprocal tariffs imposed by the US are expected to hurt Malaysia’s export-oriented sectors, slowing economic growth, with economists cutting the country’s GDP forecast. Market breadth was negative, with 777 losers against 185 winners. In the broader market, all sectors closed in negative territory except REITs (+0.47%), while Technology (-3.81%) continued to record the largest decline.
Top 3 Active stocks:
SAPNRG (5218): RM0.045 (unch)
CIMB (1023): RM7.010 (-12.0 sen)
NEXG (5216): RM0.235 (-1.5 sen)
Volume: 1.81 bn (100-bar avg vol: 2.99 bn)
Value: RM1.89 bn (100-bar avg val: RM2.60 bn)
Market Breadth: ⬆️185⬇️777
Crude palm oil: RM4,335 (-RM154)
Dow Futures: 40,391 pts (-385 pts)
**Source: Bloomberg, M+**
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M+ Morning Market Buzz - 7Apr25
Dow Jones: 38,314.86 pts (-2231.07pts, -5.50%)
⬆️ Resistance: 43300
⬇️ Support: 37500
FBM KLCI: 1,504.14 pts (-14.77pts, -0.97%)
⬆️ Resistance: 1560
⬇️ Support: 1480
HSI Index: 22,849.81 pts (-352.72pts, -1.52%)
⬆️ Resistance: 24000
⬇️ Support: 22200
Crude Palm Oil: RM4,328 (-RM161, -3.59%)
⬆️ Resistance: 4640
⬇️ Support: 4240
Brent Oil: $65.58 (-$1.59, -2.42%)
⬆️ Resistance: 77.00
⬇️ Support: 62.80
Gold: $3,038.24 (-$16.34, -0.54%)
⬆️ Resistance: 3240
⬇️ Support: 2960
Source: Bloomberg, M+
Dow Jones: 38,314.86 pts (-2231.07pts, -5.50%)
⬆️ Resistance: 43300
⬇️ Support: 37500
FBM KLCI: 1,504.14 pts (-14.77pts, -0.97%)
⬆️ Resistance: 1560
⬇️ Support: 1480
HSI Index: 22,849.81 pts (-352.72pts, -1.52%)
⬆️ Resistance: 24000
⬇️ Support: 22200
Crude Palm Oil: RM4,328 (-RM161, -3.59%)
⬆️ Resistance: 4640
⬇️ Support: 4240
Brent Oil: $65.58 (-$1.59, -2.42%)
⬆️ Resistance: 77.00
⬇️ Support: 62.80
Gold: $3,038.24 (-$16.34, -0.54%)
⬆️ Resistance: 3240
⬇️ Support: 2960
Source: Bloomberg, M+
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M+ Market Update – 07Apr25
Market Sentiment To Remain Cautious
US: Risk-off sentiment persisted on Wall Street, wiping out USD5 trillion following reciprocal tariffs from President Trump. We anticipate the trend to persist, at least in the near term, after Beijing retaliated with 34% tariffs on U.S. imports; do note that Wall Street futures are down more than 4% at time of writing. Traders will monitor the inflation data on Thursday, which we believe a softer reading may support rate cuts, and cushioning recent sell-off in Wall Street. On the commodities markets, Brent oil and Gold traded around USD65 a barrel and USD3,010 an ounce, respectively, while CPO prices retreated further towards RM4,328.
MY: We believe the heavier tariffs on Chinese glove manufacturers are expected to shift market dynamics in favour of Malaysia’s glove manufacturers, we anticipate the recent rebound to continue, driven by (i) healthy restocking activities and (ii) additional tariffs on top of the 60% duty imposed on Chinese glove players, as well as (iii) measles outbreak in the US. With Prime Minister Anwar stating that our economy remains stable and is not headed into recession, we expect the Banking sector may could present a buying opportunity on dips. Meanwhile, REITs could serve as a defensive play, offering stable earnings outlook supported by rising footfall and high payout ratios, which should cushion market uncertainties.
Stocks to watch:
Construction: *MNHLDG*, *SUNCON*
Consumer: *UCHITEC*
Logistics: *WPRTS*
Healthcare: *KPJ*
Financial: AMBANK
REITs: IGBREIT
Source: M+
Market Sentiment To Remain Cautious
US: Risk-off sentiment persisted on Wall Street, wiping out USD5 trillion following reciprocal tariffs from President Trump. We anticipate the trend to persist, at least in the near term, after Beijing retaliated with 34% tariffs on U.S. imports; do note that Wall Street futures are down more than 4% at time of writing. Traders will monitor the inflation data on Thursday, which we believe a softer reading may support rate cuts, and cushioning recent sell-off in Wall Street. On the commodities markets, Brent oil and Gold traded around USD65 a barrel and USD3,010 an ounce, respectively, while CPO prices retreated further towards RM4,328.
MY: We believe the heavier tariffs on Chinese glove manufacturers are expected to shift market dynamics in favour of Malaysia’s glove manufacturers, we anticipate the recent rebound to continue, driven by (i) healthy restocking activities and (ii) additional tariffs on top of the 60% duty imposed on Chinese glove players, as well as (iii) measles outbreak in the US. With Prime Minister Anwar stating that our economy remains stable and is not headed into recession, we expect the Banking sector may could present a buying opportunity on dips. Meanwhile, REITs could serve as a defensive play, offering stable earnings outlook supported by rising footfall and high payout ratios, which should cushion market uncertainties.
Stocks to watch:
Construction: *MNHLDG*, *SUNCON*
Consumer: *UCHITEC*
Logistics: *WPRTS*
Healthcare: *KPJ*
Financial: AMBANK
REITs: IGBREIT
Source: M+
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M+ Market Wrap - 7Apr25
FBM KLCI: 1,440.86 pts (-63.28pts, -4.21%)
China’s 34% tariff retaliation on U.S. imports sparked fears across the ASEAN markets, dragging the local bourse to another 52-week low. Market breadth was negative, with losers outpacing gainers by 11-to-1 ratio. Both the Technology and Energy sectors were hit the hardest as traders factored in U.S. President Trump’s trade policies. The expected downward pressure on Brent oil prices could hurt margins of oil-related stocks. Meanwhile, sentiment in the Technology sector stayed negative due to its heavy reliance on FDI, as the neutral investment environment in Malaysia may come under pressure amid escalating tariff restrictions.
Top 3 Active stocks:
MYEG (0138): RM0.710 (-21.0 sen)
TAWIN (7097): RM0.020 (-0.5 sen)
VELESTO (5243): RM0.140 (-2.0 sen)
Volume: 5.35 bn (100-bar avg vol: 3.01 bn)
Value: RM4.67 bn (100-bar avg val: RM2.60 bn)
Market Breadth: ⬆️122⬇️1296
Crude palm oil: RM4,191 (-RM137)
Dow Futures: 37,303 pts (-1227 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,440.86 pts (-63.28pts, -4.21%)
China’s 34% tariff retaliation on U.S. imports sparked fears across the ASEAN markets, dragging the local bourse to another 52-week low. Market breadth was negative, with losers outpacing gainers by 11-to-1 ratio. Both the Technology and Energy sectors were hit the hardest as traders factored in U.S. President Trump’s trade policies. The expected downward pressure on Brent oil prices could hurt margins of oil-related stocks. Meanwhile, sentiment in the Technology sector stayed negative due to its heavy reliance on FDI, as the neutral investment environment in Malaysia may come under pressure amid escalating tariff restrictions.
Top 3 Active stocks:
MYEG (0138): RM0.710 (-21.0 sen)
TAWIN (7097): RM0.020 (-0.5 sen)
VELESTO (5243): RM0.140 (-2.0 sen)
Volume: 5.35 bn (100-bar avg vol: 3.01 bn)
Value: RM4.67 bn (100-bar avg val: RM2.60 bn)
Market Breadth: ⬆️122⬇️1296
Crude palm oil: RM4,191 (-RM137)
Dow Futures: 37,303 pts (-1227 pts)
**Source: Bloomberg, M+**
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M+ Market Update – 08Apr25
Time For A Rebound
US: Wall Street took a breather, closing flat, despite recent threats from President Trump to impose additional tariffs on top of existing ones on China. With the 10-Year Treasury yield rising above 4%, we anticipate a return of risk-on sentiment, despite uncertainties over retaliatory actions between major trading partners. Notably, Wall Street futures are positive at this juncture. Traders will monitor on the CPI reading this Thursday. In the commodities market, Brent oil retreated further towards USD64 a barrel, while Gold traded below the psychological level at USD3,000. CPO prices hovered around RM4,225.
MY: Given the positive Wall Street futures, we expect bargain hunting to emerge in Banking sector; supported by stable loans growth and attractive dividend yields. Meanwhile, REITs could gain traction due to a steady recovery in footfall. Following another threat to impose additional 50% tariff on China from the President Trump, we see trading opportunities within glove manufacturing, driven by (i) healthy restocking activities, (ii) blanket tariffs on Chinese glove makers, which would shift market dynamics towards Malaysian glove manufacturers, and (iii) the US measles outbreak, which may boost demand. Lastly, we anticipate technical buying opportunities in ITMAX, supported by its strong business prospects in Penang.
Stocks to watch:
Financial: *MAYBANK*, CIMB
REITs: IGBREIT, PAVREIT
O&G: *DELEUM*
Telco: *TIMECOM*
Healthcare: *KPJ*
Consumer: *UCHITEC*
Solar: PEKAT
Technology: *ITMAX*
Source: M+
Time For A Rebound
US: Wall Street took a breather, closing flat, despite recent threats from President Trump to impose additional tariffs on top of existing ones on China. With the 10-Year Treasury yield rising above 4%, we anticipate a return of risk-on sentiment, despite uncertainties over retaliatory actions between major trading partners. Notably, Wall Street futures are positive at this juncture. Traders will monitor on the CPI reading this Thursday. In the commodities market, Brent oil retreated further towards USD64 a barrel, while Gold traded below the psychological level at USD3,000. CPO prices hovered around RM4,225.
MY: Given the positive Wall Street futures, we expect bargain hunting to emerge in Banking sector; supported by stable loans growth and attractive dividend yields. Meanwhile, REITs could gain traction due to a steady recovery in footfall. Following another threat to impose additional 50% tariff on China from the President Trump, we see trading opportunities within glove manufacturing, driven by (i) healthy restocking activities, (ii) blanket tariffs on Chinese glove makers, which would shift market dynamics towards Malaysian glove manufacturers, and (iii) the US measles outbreak, which may boost demand. Lastly, we anticipate technical buying opportunities in ITMAX, supported by its strong business prospects in Penang.
Stocks to watch:
Financial: *MAYBANK*, CIMB
REITs: IGBREIT, PAVREIT
O&G: *DELEUM*
Telco: *TIMECOM*
Healthcare: *KPJ*
Consumer: *UCHITEC*
Solar: PEKAT
Technology: *ITMAX*
Source: M+
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M+ Morning Market Buzz - 8Apr25
Dow Jones: 37,965.60 pts (-349.26pts, -0.91%)
⬆️ Resistance: 43300
⬇️ Support: 35900
FBM KLCI: 1,443.80 pts (+5.82pts, +0.40%)
⬆️ Resistance: 1560
⬇️ Support: 1400
HSI Index: 19,828.30 pts (+383.33pts, +1.93%)
⬆️ Resistance: 24000
⬇️ Support: 19400
Crude Palm Oil: RM4,185 (+RM58, +1.39%)
⬆️ Resistance: 4640
⬇️ Support: 4080
Brent Oil: $64.21 (+$0.83, +1.29%)
⬆️ Resistance: 77.00
⬇️ Support: 61.30
Gold: $2,983.28 (+$20.43, +0.68%)
⬆️ Resistance: 3240
⬇️ Support: 2900
Source: Bloomberg, M+
Dow Jones: 37,965.60 pts (-349.26pts, -0.91%)
⬆️ Resistance: 43300
⬇️ Support: 35900
FBM KLCI: 1,443.80 pts (+5.82pts, +0.40%)
⬆️ Resistance: 1560
⬇️ Support: 1400
HSI Index: 19,828.30 pts (+383.33pts, +1.93%)
⬆️ Resistance: 24000
⬇️ Support: 19400
Crude Palm Oil: RM4,185 (+RM58, +1.39%)
⬆️ Resistance: 4640
⬇️ Support: 4080
Brent Oil: $64.21 (+$0.83, +1.29%)
⬆️ Resistance: 77.00
⬇️ Support: 61.30
Gold: $2,983.28 (+$20.43, +0.68%)
⬆️ Resistance: 3240
⬇️ Support: 2900
Source: Bloomberg, M+