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+**
Forwarded from M+ On-The-Go
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+
Forwarded from M+ On-The-Go
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+
Sector Of The Year: Positive momentum in construction sector expected to continue in 2025
https://theedgemalaysia.com/node/739439
https://theedgemalaysia.com/node/739439
The Edge Malaysia
Sector Of The Year: Positive momentum in construction sector expected to continue in 2025
THE Kuala Lumpur Construction Index (KLCON) had shot up 59% to 305.27 points as at Dec 20. This was the index’s biggest annual increase in its 31-year history. KLCON’s valuation had risen from a 10-year average of 13 times to 17.8 times. The keen interest…