Forwarded from M+ On-The-Go
M+ Market Wrap - 24Feb25
FBM KLCI: 1,584.25 pts (-6.78pts, -0.43%)
The FBMKLCI (-0.43%) slid after Industrial Products & Services and Utilities heavyweights weighed on sentiment in the local market; the latter's decline was due to analysts' conservative stance on PCHEM (-40.0 sen), which likely spurred selling pressure in the sector. Market breadth was negative, with losers outpacing gainers at 719-to-304 stocks. On the broader market, Plantation (+1.50%) stocks outperformed, led by gains in SDG (+13.0 sen) and KLK (+42.0 sen), while the Construction (-3.74%) sector declined the most.
Top 3 Active stocks:
INGENIEU (5178): RM0.050 (unch)
MYEG (0138): RM1.010 (-3.0 sen)
GAMUDA (5398): RM4.490 (-27.0 sen)
Volume: 2.70 bn (100-bar avg vol: 2.93 bn)
Value: RM2.32 bn (100-bar avg val: RM2.54 bn)
Market Breadth: ⬆️304 ⬇️719
Crude palm oil: RM4,563 (-RM101)
Dow Futures: 43,718 pts (+232 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,584.25 pts (-6.78pts, -0.43%)
The FBMKLCI (-0.43%) slid after Industrial Products & Services and Utilities heavyweights weighed on sentiment in the local market; the latter's decline was due to analysts' conservative stance on PCHEM (-40.0 sen), which likely spurred selling pressure in the sector. Market breadth was negative, with losers outpacing gainers at 719-to-304 stocks. On the broader market, Plantation (+1.50%) stocks outperformed, led by gains in SDG (+13.0 sen) and KLK (+42.0 sen), while the Construction (-3.74%) sector declined the most.
Top 3 Active stocks:
INGENIEU (5178): RM0.050 (unch)
MYEG (0138): RM1.010 (-3.0 sen)
GAMUDA (5398): RM4.490 (-27.0 sen)
Volume: 2.70 bn (100-bar avg vol: 2.93 bn)
Value: RM2.32 bn (100-bar avg val: RM2.54 bn)
Market Breadth: ⬆️304 ⬇️719
Crude palm oil: RM4,563 (-RM101)
Dow Futures: 43,718 pts (+232 pts)
**Source: Bloomberg, M+**
Forwarded from M+ On-The-Go
M+ Morning Market Buzz - 25Feb25
Dow Jones: 43,461.21 pts (+33.19pts, +0.08%)
⬆️ Resistance: 45600
⬇️ Support: 42500
FBM KLCI: 1,584.25 pts (-6.78pts, -0.43%)
⬆️ Resistance: 1630
⬇️ Support: 1550
HSI Index: 23,341.61 pts (-136.31pts, -0.58%)
⬆️ Resistance: 24200
⬇️ Support: 22000
Crude Palm Oil: RM4,559 (-RM19, -0.42%)
⬆️ Resistance: 4820
⬇️ Support: 4400
Brent Oil: $74.43 (+$0.37, +0.50%)
⬆️ Resistance: 78.70
⬇️ Support: 72.70
Gold: $2,936.05 (+$16.59, +0.57%)
⬆️ Resistance: 3020
⬇️ Support: 2840
Source: Bloomberg, M+
Dow Jones: 43,461.21 pts (+33.19pts, +0.08%)
⬆️ Resistance: 45600
⬇️ Support: 42500
FBM KLCI: 1,584.25 pts (-6.78pts, -0.43%)
⬆️ Resistance: 1630
⬇️ Support: 1550
HSI Index: 23,341.61 pts (-136.31pts, -0.58%)
⬆️ Resistance: 24200
⬇️ Support: 22000
Crude Palm Oil: RM4,559 (-RM19, -0.42%)
⬆️ Resistance: 4820
⬇️ Support: 4400
Brent Oil: $74.43 (+$0.37, +0.50%)
⬆️ Resistance: 78.70
⬇️ Support: 72.70
Gold: $2,936.05 (+$16.59, +0.57%)
⬆️ Resistance: 3020
⬇️ Support: 2840
Source: Bloomberg, M+
Forwarded from M+ On-The-Go
M+ Market Update – 25Feb25
More Clarity From Microsoft
The local bourse began the week on a negative note as Microsoft’s statement on softer data center capex spooked the market and dampened sentiment across the local data center themes. Also, Wall Street ended mostly lower ahead of Nvidia's earnings report, coupled with softer economic data pointing to weakened consumer demand. We expect Wall Street to trade in a volatile manner as Hong Kong futures are down, while cryptocurrency like Bitcoin has turned weaker at the time of writing. This week, traders will monitor (i) US Consumer Confidence, (ii) Prelim GDP QoQ, (iii) Unemployment Claims, and (iv) the Monthly Core PCE Price Index. In the commodities market, Brent Crude traded around USD74 per barrel. Meanwhile, Gold surged towards the USD2,950 level, while CPO hovered around RM4,500.
Sector Focus: We see opportunities to accumulate in the Construction and Retail sectors, given their oversold conditions, a solid outlook, and steady earnings reports from 99 Speedmart. Despite recent sell offs, we believe traders may look out for bargain hunting activities as Microsoft’s core strategy remains intact for its data center strategy and their 10-year outlook for cloud and AI. Meanwhile, we opine that selected Healthcare and Technology stocks like KPJ and ITMAX will be decent for long-term investment.
Stocks to watch:
Consumer: *DXN*, TEOSENG
Technology: *EG*, ITMAX
Property: EXSIMHB, GDB
Gaming: *GENM*
Healthcare: *KPJ*
Plantation: TSH
Source: M+
More Clarity From Microsoft
The local bourse began the week on a negative note as Microsoft’s statement on softer data center capex spooked the market and dampened sentiment across the local data center themes. Also, Wall Street ended mostly lower ahead of Nvidia's earnings report, coupled with softer economic data pointing to weakened consumer demand. We expect Wall Street to trade in a volatile manner as Hong Kong futures are down, while cryptocurrency like Bitcoin has turned weaker at the time of writing. This week, traders will monitor (i) US Consumer Confidence, (ii) Prelim GDP QoQ, (iii) Unemployment Claims, and (iv) the Monthly Core PCE Price Index. In the commodities market, Brent Crude traded around USD74 per barrel. Meanwhile, Gold surged towards the USD2,950 level, while CPO hovered around RM4,500.
Sector Focus: We see opportunities to accumulate in the Construction and Retail sectors, given their oversold conditions, a solid outlook, and steady earnings reports from 99 Speedmart. Despite recent sell offs, we believe traders may look out for bargain hunting activities as Microsoft’s core strategy remains intact for its data center strategy and their 10-year outlook for cloud and AI. Meanwhile, we opine that selected Healthcare and Technology stocks like KPJ and ITMAX will be decent for long-term investment.
Stocks to watch:
Consumer: *DXN*, TEOSENG
Technology: *EG*, ITMAX
Property: EXSIMHB, GDB
Gaming: *GENM*
Healthcare: *KPJ*
Plantation: TSH
Source: M+
Market Commentary
Highlights:
Palm declines on weak Dalian and Chicago oils, low demand from India
CBOT soy ends down as corn sags, Argentine weather outlooks improve
Crude Palm Oil
Malaysian palm oil futures fell more than 2% on Monday, their biggest daily drop in more than a month, weighed down by weakness in rival Dalian and Chicago oils, while weak demand from top buyer India also pressured the market.
The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange lost 104 ringgit, or 2.23%, to 4,560 ringgit ($1,034.48) a metric ton at closing.
Sharp losses in rival oils dampened market sentiment, said a Kuala Lumpur-based trader.
Dalian's palm oil contract fell 1.64%, while its most-active soyoil contract DBYcv1 was up 0.15%. Soyoil prices on the Chicago Board of Trade were down 0.61%.
Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market.
Palm oil demand by top buyer India in the 2024/25 marketing year ending in October could fall to as low as 7.5 million tons, the lowest in five years, as its rising premium over soyoil and sunflower oil pushes refiners towards more affordable alternatives, an industry body said.
Indian refiners have cancelled orders for 100,000 tons of crude palm oil scheduled for delivery between March and June because of a surge in benchmark Malaysian prices and negative refining margins in India, four trade sources said.
India is likely to raise import taxes on vegetable oils for the second time in less than six months to help support thousands of oilseed farmers reeling from a crash in domestic oilseed prices, two government sources said.
Malaysia's palm oil stocks are set to fall to 1.5 million metric tons by the end of February, their lowest level in nearly two years, as floods have hit production and the Ramadan festival has boosted demand, a senior regulatory official told Reuters.
Today's palm oil market is poised to experience a bearish trend, influenced by the weaker Chicago soyoil price and weaker demand from India.
Soybean (Reuters)
Chicago Board of Trade soybean futures closed lower on Monday on spillover weakness from corn and outlooks for beneficial rains in crop areas of Argentina
CBOT most-active May soybeans settled down 9-3/4 cents at $10.47-1/2 per bushel.
Crop areas of Argentina should see "widespread and frequent rain" over the next two weeks, the Commodity Weather Group said in a client note
Consultancy AgRural trimmed its forecast for Brazil's soybean crop to 168.2 million metric tons, from the 171 million it had estimated in January. However, the estimate, if realized, would still represent Brazil's largest-ever soybean harvest.
The U.S. Department of Agriculture reported export inspections of U.S. soybeans in the latest week at 858,679 metric tons, toward the high end of trade expectations for 350,000 to 900,000 tons.
Thank you
Best Regards
Phillip Capital Sdn Bhd
Highlights:
Palm declines on weak Dalian and Chicago oils, low demand from India
CBOT soy ends down as corn sags, Argentine weather outlooks improve
Crude Palm Oil
Malaysian palm oil futures fell more than 2% on Monday, their biggest daily drop in more than a month, weighed down by weakness in rival Dalian and Chicago oils, while weak demand from top buyer India also pressured the market.
The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange lost 104 ringgit, or 2.23%, to 4,560 ringgit ($1,034.48) a metric ton at closing.
Sharp losses in rival oils dampened market sentiment, said a Kuala Lumpur-based trader.
Dalian's palm oil contract fell 1.64%, while its most-active soyoil contract DBYcv1 was up 0.15%. Soyoil prices on the Chicago Board of Trade were down 0.61%.
Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market.
Palm oil demand by top buyer India in the 2024/25 marketing year ending in October could fall to as low as 7.5 million tons, the lowest in five years, as its rising premium over soyoil and sunflower oil pushes refiners towards more affordable alternatives, an industry body said.
Indian refiners have cancelled orders for 100,000 tons of crude palm oil scheduled for delivery between March and June because of a surge in benchmark Malaysian prices and negative refining margins in India, four trade sources said.
India is likely to raise import taxes on vegetable oils for the second time in less than six months to help support thousands of oilseed farmers reeling from a crash in domestic oilseed prices, two government sources said.
Malaysia's palm oil stocks are set to fall to 1.5 million metric tons by the end of February, their lowest level in nearly two years, as floods have hit production and the Ramadan festival has boosted demand, a senior regulatory official told Reuters.
Today's palm oil market is poised to experience a bearish trend, influenced by the weaker Chicago soyoil price and weaker demand from India.
Soybean (Reuters)
Chicago Board of Trade soybean futures closed lower on Monday on spillover weakness from corn and outlooks for beneficial rains in crop areas of Argentina
CBOT most-active May soybeans settled down 9-3/4 cents at $10.47-1/2 per bushel.
Crop areas of Argentina should see "widespread and frequent rain" over the next two weeks, the Commodity Weather Group said in a client note
Consultancy AgRural trimmed its forecast for Brazil's soybean crop to 168.2 million metric tons, from the 171 million it had estimated in January. However, the estimate, if realized, would still represent Brazil's largest-ever soybean harvest.
The U.S. Department of Agriculture reported export inspections of U.S. soybeans in the latest week at 858,679 metric tons, toward the high end of trade expectations for 350,000 to 900,000 tons.
Thank you
Best Regards
Phillip Capital Sdn Bhd
Forwarded from Rakuten Trade Ideas 🎯
📊 Bursa market earnings results (25.2.25)
1️⃣ MPI (3867)
📉 Missed 1HFY25 earnings expectations
Outperform with target price – RM26.75
Last traded price – RM19.62
2️⃣ LPI (8621)
📈 Beat FY24 earnings expectations
Outperform with target price – RM16.00
Last traded price – RM13.90
3️⃣ CDB (6947)
📈 Beat FY24 earnings expectations
Outperform with target price – RM4.10
Last traded price – RM3.46
4️⃣ DIALOG (7277)
📉 Missed 1HFY25 earnings expectations
Market Perform with target price – RM1.94
Last traded price – RM1.64
5️⃣ PAVREIT (5212)
📉 Missed FY24 earnings expectations
Outperform with target price – RM1.63
Last traded price – RM1.53
6️⃣ F&N (3689)
📈 Beat Q1FY25 earnings expectations
Outperform with target price – RM34.40
Last traded price – RM26.50
7️⃣ SUNREIT (5176)
📉 Missed FY24 earnings expectations
Outperform with target price – RM2.07
Last traded price – RM1.89
8️⃣ MALAKOF (5264)
📉 Missed FY24 earnings expectations
Market Perform with target price – RM0.80
Last traded price – RM0.845
9️⃣ MISC (3816)
📈 Beat FY24 earnings expectations
Market Perform with target price – RM7.78
Last traded price – RM7.31
🔟 PCHEM (5183)
📉 Missed FY24 earnings expectations
Outperform with target price – RM5.07
Last traded price – RM3.74
Kenanga Research target prices
*Last traded price based on 24-Feb closing price.
1️⃣ MPI (3867)
📉 Missed 1HFY25 earnings expectations
Outperform with target price – RM26.75
Last traded price – RM19.62
2️⃣ LPI (8621)
📈 Beat FY24 earnings expectations
Outperform with target price – RM16.00
Last traded price – RM13.90
3️⃣ CDB (6947)
📈 Beat FY24 earnings expectations
Outperform with target price – RM4.10
Last traded price – RM3.46
4️⃣ DIALOG (7277)
📉 Missed 1HFY25 earnings expectations
Market Perform with target price – RM1.94
Last traded price – RM1.64
5️⃣ PAVREIT (5212)
📉 Missed FY24 earnings expectations
Outperform with target price – RM1.63
Last traded price – RM1.53
6️⃣ F&N (3689)
📈 Beat Q1FY25 earnings expectations
Outperform with target price – RM34.40
Last traded price – RM26.50
7️⃣ SUNREIT (5176)
📉 Missed FY24 earnings expectations
Outperform with target price – RM2.07
Last traded price – RM1.89
8️⃣ MALAKOF (5264)
📉 Missed FY24 earnings expectations
Market Perform with target price – RM0.80
Last traded price – RM0.845
9️⃣ MISC (3816)
📈 Beat FY24 earnings expectations
Market Perform with target price – RM7.78
Last traded price – RM7.31
🔟 PCHEM (5183)
📉 Missed FY24 earnings expectations
Outperform with target price – RM5.07
Last traded price – RM3.74
Kenanga Research target prices
*Last traded price based on 24-Feb closing price.
Sime Darby, 99 Speed Mart, UOA Development, CTOS Digital, Supermax, MSM Malaysia, Bintulu Port, RCE Capital, Kawan Food, Innoprise Plantations, Master Tec, HeiTech Padu, Nestcon
https://theedgemalaysia.com/node/745676
https://theedgemalaysia.com/node/745676
The Edge Malaysia
Sime Darby, 99 Speed Mart, UOA Development, CTOS Digital, Supermax, MSM Malaysia, Bintulu Port, RCE Capital, Kawan Food, Innoprise…
Here is a brief recap of some corporate announcements that made the news on Monday.
Forwarded from Trade With Maybank
Bursa Malaysia Midday Recap: Red Tide Sweeps Local Bourse
The FBM KLCI opened lower following the US President’s decision to move forward with tariffs on Canada and Mexico. Losses in CIMB and TENAGA further dragged the index. Market sentiment remained weak, with all indices trading in the red. Technology emerged as the main laggard, extending its 11-day losing streak, while healthcare was weighed down by glove stocks. Looking ahead, corporate earnings will be the key focus for local investors this week.
Despite the market weakness, trading opportunities may arise in GENETEC (Estimated Resistance: MYR1.49; Stop Loss: MYR1.16), VELESTO (Estimated Resistance: MYR0.225; Stop Loss: MYR0.165), and JPG (Estimated Resistance: MYR1.47; Stop Loss: MYR1.15), as highlighted in today’s Traders’ Almanac. For the full report, stock ideas and market flows, access Discover Tab on Maybank Trade MY app.
Trade Your Way Forward. Simple, Smart and Seamlessly
#Middayrecap
The FBM KLCI opened lower following the US President’s decision to move forward with tariffs on Canada and Mexico. Losses in CIMB and TENAGA further dragged the index. Market sentiment remained weak, with all indices trading in the red. Technology emerged as the main laggard, extending its 11-day losing streak, while healthcare was weighed down by glove stocks. Looking ahead, corporate earnings will be the key focus for local investors this week.
Despite the market weakness, trading opportunities may arise in GENETEC (Estimated Resistance: MYR1.49; Stop Loss: MYR1.16), VELESTO (Estimated Resistance: MYR0.225; Stop Loss: MYR0.165), and JPG (Estimated Resistance: MYR1.47; Stop Loss: MYR1.15), as highlighted in today’s Traders’ Almanac. For the full report, stock ideas and market flows, access Discover Tab on Maybank Trade MY app.
Trade Your Way Forward. Simple, Smart and Seamlessly
#Middayrecap
Forwarded from M+ On-The-Go
M+ Market Wrap - 25Feb25
FBM KLCI: 1,568.03 pts (-16.22pts, -1.02%)
The FBMKLCI (-1.02%) closed lower after losses in Banking and Utilities heavyweights dampened sentiment locally, while global peers also declined due to fears of a return of President Trump’s trade war and curbs on Chinese products. Market breadth was negative with losers outpacing gainers by 901-to-217 stocks. On the broader market, the Transportation & Logistics (+0.79%) sector outperformed, led by gains in MISC (-6.0 sen) and HEXTECH (+8.0 sen), while the rest ended in the red.
Top 3 Active stocks:
TWL (7079): RM0.025 (+0.5 sen)
INGENIEU (5178): RM0.045 (-0.5 sen)
MYEG (0138): RM0.975 (-3.5 sen)
Volume: 3.14 bn (100-bar avg vol: 2.92 bn)
Value: RM2.65 bn (100-bar avg val: RM2.54 bn)
Market Breadth: ⬆️217 ⬇️901
Crude palm oil: RM4,564 (+RM5)
Dow Futures: 43,533 pts (-2 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,568.03 pts (-16.22pts, -1.02%)
The FBMKLCI (-1.02%) closed lower after losses in Banking and Utilities heavyweights dampened sentiment locally, while global peers also declined due to fears of a return of President Trump’s trade war and curbs on Chinese products. Market breadth was negative with losers outpacing gainers by 901-to-217 stocks. On the broader market, the Transportation & Logistics (+0.79%) sector outperformed, led by gains in MISC (-6.0 sen) and HEXTECH (+8.0 sen), while the rest ended in the red.
Top 3 Active stocks:
TWL (7079): RM0.025 (+0.5 sen)
INGENIEU (5178): RM0.045 (-0.5 sen)
MYEG (0138): RM0.975 (-3.5 sen)
Volume: 3.14 bn (100-bar avg vol: 2.92 bn)
Value: RM2.65 bn (100-bar avg val: RM2.54 bn)
Market Breadth: ⬆️217 ⬇️901
Crude palm oil: RM4,564 (+RM5)
Dow Futures: 43,533 pts (-2 pts)
**Source: Bloomberg, M+**
Forwarded from M+ On-The-Go
M+ Morning Market Buzz - 26Feb25
Dow Jones: 43,621.16 pts (+159.95pts, +0.37%)
⬆️ Resistance: 45600
⬇️ Support: 42500
FBM KLCI: 1,568.03 pts (-16.22pts, -1.02%)
⬆️ Resistance: 1630
⬇️ Support: 1540
HSI Index: 23,034.02 pts (-307.59pts, -1.32%)
⬆️ Resistance: 24200
⬇️ Support: 22000
Crude Palm Oil: RM4,565 (+RM5, +0.11%)
⬆️ Resistance: 4820
⬇️ Support: 4420
Brent Oil: $74.78 (-$1.56, -2.10%)
⬆️ Resistance: 78.70
⬇️ Support: 71.30
Gold: $2,914.98 (-$0.22, -0.01%)
⬆️ Resistance: 3020
⬇️ Support: 2840
Source: Bloomberg, M+
Dow Jones: 43,621.16 pts (+159.95pts, +0.37%)
⬆️ Resistance: 45600
⬇️ Support: 42500
FBM KLCI: 1,568.03 pts (-16.22pts, -1.02%)
⬆️ Resistance: 1630
⬇️ Support: 1540
HSI Index: 23,034.02 pts (-307.59pts, -1.32%)
⬆️ Resistance: 24200
⬇️ Support: 22000
Crude Palm Oil: RM4,565 (+RM5, +0.11%)
⬆️ Resistance: 4820
⬇️ Support: 4420
Brent Oil: $74.78 (-$1.56, -2.10%)
⬆️ Resistance: 78.70
⬇️ Support: 71.30
Gold: $2,914.98 (-$0.22, -0.01%)
⬆️ Resistance: 3020
⬇️ Support: 2840
Source: Bloomberg, M+
Forwarded from M+ On-The-Go
M+ Market Update – 26Feb25
Awaiting Nvidia’s Results
The local bourse closed lower as losses in Banking and Utilities heavyweights dampened the sentiment locally. Wall Street ended mostly lower after weaker consumer confidence, following a weakening Services PMI and Walmart's conservative outlook. We believe the decline in confidence stems from elevated inflation, worsened by Trump’s tariffs threats on trading partners, suggesting a slower easing cycle ahead. In the commodities market, Brent Crude lost nearly 2.5% on fears of slower energy demand and an elevated stockpile outlook. Meanwhile, gold retreated below USD2,920, while CPO traded around RM4,570.
Sector Focus: Despite the weaker trading sentiment, we see opportunities to accumulate ITMAX after the company reported robust earnings in the latest quarter. Also, its development in Johor and new ventures in Penang should bode well for long term growth. Meanwhile, we believe Frontken’s record quarterly earnings may provide stability towards the Technology sector, after the recent selloff following the Deepseek incident in late 2024. Similarly, we expect positive opportunities in the Consumer and Renewable Energy segments following stronger earnings from Leong Hup and Pekat.
Stocks to watch:
Technology: HTPADU, *ITMAX*
Utility: *PEKAT*, *SCGBHD*
Construction: *SUNCON*
Chemical: *TMK*
Consumer: KOPI
REIT: PAVREIT
Property: EXSIMHB
Source: M+
Awaiting Nvidia’s Results
The local bourse closed lower as losses in Banking and Utilities heavyweights dampened the sentiment locally. Wall Street ended mostly lower after weaker consumer confidence, following a weakening Services PMI and Walmart's conservative outlook. We believe the decline in confidence stems from elevated inflation, worsened by Trump’s tariffs threats on trading partners, suggesting a slower easing cycle ahead. In the commodities market, Brent Crude lost nearly 2.5% on fears of slower energy demand and an elevated stockpile outlook. Meanwhile, gold retreated below USD2,920, while CPO traded around RM4,570.
Sector Focus: Despite the weaker trading sentiment, we see opportunities to accumulate ITMAX after the company reported robust earnings in the latest quarter. Also, its development in Johor and new ventures in Penang should bode well for long term growth. Meanwhile, we believe Frontken’s record quarterly earnings may provide stability towards the Technology sector, after the recent selloff following the Deepseek incident in late 2024. Similarly, we expect positive opportunities in the Consumer and Renewable Energy segments following stronger earnings from Leong Hup and Pekat.
Stocks to watch:
Technology: HTPADU, *ITMAX*
Utility: *PEKAT*, *SCGBHD*
Construction: *SUNCON*
Chemical: *TMK*
Consumer: KOPI
REIT: PAVREIT
Property: EXSIMHB
Source: M+