Malaysian stocks broadly lower as KLCI falls to five-month low, ringgit weakens
https://theedgemalaysia.com/node/740754
https://theedgemalaysia.com/node/740754
The Edge Malaysia
Malaysian stocks broadly lower as KLCI falls to five-month low, ringgit weakens
Malaysian stocks were broadly lower on Monday led by construction and property companies, while the country’s benchmark index fell to a five-month low. Investors in Asia reacted poorly to the latest jobs data in the US that pointed to a robust economy, threatening…
Forwarded from M+ On-The-Go
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+
Forwarded from M+ On-The-Go
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+
Forwarded from Trade With Maybank
Gamuda Secures MYR8.3 Billion Penang Contract
Gamuda (GAMUDA), through its 60%-owned subsidiary SRS Consortium Berhad, announced yesterday in a Bursa filing that it has secured the first civil works package for the Penang Mutiara Line, valued at MYR8.3 billion.
The project, awarded by MRT Mutiara, involves constructing a 23.7km elevated viaduct from Komtar to Island A of the Penang South Reclamation (PSR), along with 19 above-ground stations, a depot, and supporting infrastructure. Completion is targeted within six years from the notice to proceed.
Bullish investors looking for leveraged exposure may consider GAMUDA-C3B with an effective gearing of 4.9x. This means for every 1% move in GAMUDA, GAMUDA-C3B will move by 4.9% indicatively.
#WarrantsWatch
Gamuda (GAMUDA), through its 60%-owned subsidiary SRS Consortium Berhad, announced yesterday in a Bursa filing that it has secured the first civil works package for the Penang Mutiara Line, valued at MYR8.3 billion.
The project, awarded by MRT Mutiara, involves constructing a 23.7km elevated viaduct from Komtar to Island A of the Penang South Reclamation (PSR), along with 19 above-ground stations, a depot, and supporting infrastructure. Completion is targeted within six years from the notice to proceed.
Bullish investors looking for leveraged exposure may consider GAMUDA-C3B with an effective gearing of 4.9x. This means for every 1% move in GAMUDA, GAMUDA-C3B will move by 4.9% indicatively.
#WarrantsWatch
Forwarded from M+ On-The-Go
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+**
Forwarded from Trade With Maybank
Bursa Malaysia Midday Recap: Relief Rally
The FBM KLCI finally saw some relief today after a 4-days slump, as majority of the main index constituents rebounded. Broad market sentiment skewed in favour of the bulls today. AXIATA and MAXIS led moves within the telco & media sector, pushing it to the top spot today. Energy stocks made another attempt to trade higher in early trade as crude oil prices remain elevated, but drifted into the red towards midday. Trade volume continues to tick upwards, suggesting some interest in small-mid cap stocks.
Financial stocks emerged among the most traded sectors by value today, investors looking for defensive positions may want to consider some of our banking counters as an alternative to our REIT sector calls. AMBANK (12m Target Price: MYR6.30; CY25E Dividend Yield: 5.6%) and CIMB (12m Target Price: MYR9.20; CY25E Dividend Yield: 5.1%) are among our analyst’s top picks.
Trade Your Way Forward. Simple, Smart and Seamlessly
#Middayrecap
The FBM KLCI finally saw some relief today after a 4-days slump, as majority of the main index constituents rebounded. Broad market sentiment skewed in favour of the bulls today. AXIATA and MAXIS led moves within the telco & media sector, pushing it to the top spot today. Energy stocks made another attempt to trade higher in early trade as crude oil prices remain elevated, but drifted into the red towards midday. Trade volume continues to tick upwards, suggesting some interest in small-mid cap stocks.
Financial stocks emerged among the most traded sectors by value today, investors looking for defensive positions may want to consider some of our banking counters as an alternative to our REIT sector calls. AMBANK (12m Target Price: MYR6.30; CY25E Dividend Yield: 5.6%) and CIMB (12m Target Price: MYR9.20; CY25E Dividend Yield: 5.1%) are among our analyst’s top picks.
Trade Your Way Forward. Simple, Smart and Seamlessly
#Middayrecap
Forwarded from M+ On-The-Go
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+
Forwarded from M+ On-The-Go
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+
Forwarded from Trade With Maybank
Yinson Secures USD1 Billion Funding
Yesterday, Yinson Holdings (YINSON) announced that its subsidiary Yinson Production has secured USD1 billion in funding from a consortium led by Abu Dhabi Investment Authority (ADIA), British Columbia Investment Management Corp, and RRJ Group.
This investment will support the growth of YINSON’s floating production storage and offloading (FPSO) business, valued at USD3.7 billion.
YINSON’s stake in Yinson Production will be diluted from 100% to 65.48% upon full conversion of shares. This could further decrease to 57.6% should the consurtium exercises its option to invest USD500 million more within the next 24 months.
Investors bullish on YINSON may consider YINSON-C40 which has a sensitivity of 3.1 ticks.
#DailyHighlights
Yesterday, Yinson Holdings (YINSON) announced that its subsidiary Yinson Production has secured USD1 billion in funding from a consortium led by Abu Dhabi Investment Authority (ADIA), British Columbia Investment Management Corp, and RRJ Group.
This investment will support the growth of YINSON’s floating production storage and offloading (FPSO) business, valued at USD3.7 billion.
YINSON’s stake in Yinson Production will be diluted from 100% to 65.48% upon full conversion of shares. This could further decrease to 57.6% should the consurtium exercises its option to invest USD500 million more within the next 24 months.
Investors bullish on YINSON may consider YINSON-C40 which has a sensitivity of 3.1 ticks.
#DailyHighlights
Forwarded from M+ On-The-Go
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+**