KLSE Traders Update and Ideas

Daily Market Update - 4 Jul 2022

mplus313
Publish date: Mon, 04 Jul 2022, 08:58 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web. As I am a Dealer's Representative, I watch and follow the market quite closely, and send updates to my clients regularly.

The daily market update is usually sent out to client's mobile in the morning. While the market summary is sent out in the evening.

Want to receive the daily market update straight in your mobile phone? Open a trading account: http://klse.i3investor.com/jsp/partner/my/mplus.jsp

M+ Online Morning Market Buzz - 4 Jul 22 
 
Dow Jones: 31,097.26 pts (+321.83pts, +1.05%) 
⬆️ Resistance:  32600 
⬇️ Support:  29900 
 
FBM KLCI: 1,449.74 pts (+5.52pts, +0.38%) 
⬆️ Resistance:  1490 
⬇️ Support:  1410 
 
HSI Index: 21,859.79 pts (-137.10pts, -0.62%) 
⬆️ Resistance:  22900 
⬇️ Support:  21300 
 
Crude Palm Oil: RM4,708 (-RM202, -4.11%) 
⬆️ Resistance:  5150 
⬇️ Support:  4460 
 
Brent Oil: $111.63 (-$3.18, -2.77%) 
⬆️ Resistance:  122.90 
⬇️ Support:  105.90 
 
Gold: $1,811.43 (+$4.16, +0.23%) 
⬆️ Resistance:  1880 
⬇️ Support:  1750 
 
M+ Online Technical Focus - 4 Jul 22 
Kumpulan Fima Bhd: Firing all cylinders 
 
Trading Catalyst 
• Engages as a diversified group with core businesses in manufacturing, plantation, bulking, food sectors. 
• Leverage onto the recovery in tourism activities amid the steady rise in international travel for both business and leisure purposes. 
• Attractive valuations and we gather that historical dividends are fairly decent with FY22 dividend yield at 5.6%. 
• Technically, price has formed a short-term consolidation breakout above RM2.60, targeting the next resistances at RM2.77-2.86 with long term target at RM3.00. 
 
Technical View 
 
(i) KFIMA (S: RM2.45, R: RM2.77-2.86, LT TP: RM3.00, CL: RM2.44) 
 
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss 
 
Economic Releases For The Week (4/7/2022-8/7/2022): 
 
4/7/2022 
EU - Eurozone's Producer Price Index, 5.00PM 
 
5/7/2022 
JP - Japan's Jibun Bank Services PMI, 8.30AM 
JP - Japan's Jibun Bank Composite PMI, 8.30AM 
CN - China's Caixin Services PMI, 9.45AM 
CN - China's Caixin Composite PMI, 9.45AM 
EU - Eurozone's S&P Global Services PMI, 4:00PM 
EU - Eurozone's S&P Global Composite PMI, 4:00PM 
UK - United Kingdom's S&P Global Services PMI, 4.30PM 
UK - United Kingdom's S&P Global Composite PMI, 4.30PM 
US - United States' Factory Orders, 10.00PM 
 
6/7/2022 
MY - Malaysia's Bank Negara's Interest Rate Decision, 3.00PM 
EU - Eurozone's Retail Sales, 5.00PM 
US - United States' S&P Global Services PMI, 9.45PM 
US - United States' S&P Global Composite PMI, 9.45PM 
US - United States' ISM Non-Manufacturing New Orders, 10.00PM 
 
7/7/2022 
US - United States' FOMC Minutes, 2.00AM 
MY - Malaysia's Unemployment Rate, 12.00PM 
 
8/7/2022 
MY - Malaysia's Industrial Production, 12.00PM 
MY - Malaysia's Retail Sales, 12.00PM 
US - United States' Unemployment Rate, 8.30PM 
 
Market update: The FBM KLCI outperformed the regional peers as investors picked up beaten-down shares, led by the banking and telecommunication & media heavyweights. While late-day rebound lifted Wall Street, we expect volatility to persist on the local bourse as inflationary pressure and recession fears still dominating the market. Investors are likely to stay cautious prior to the Malaysia’s interest rate decision and the US FOMC meeting (later this month). Meanwhile, the Brent oil price rose, trading above USD111 per barrel due to supply outages in Libya and expected shutdowns in Norway.  
 
Sector focus: We remain optimistic on the recovery-themed stocks in the 2H22 such as banking, consumer and tourism. Besides, the energy sector may gain traction on the back of persistent tight supply in the market. Also, investors may scoop up the technology shares tracking rebound in Nasdaq. 
 
Stocks to watch:  
 
Consumer & Furniture: ECOMATE, MRDIY, TAFI 
Construction: GAMUDA, HIAPTEK, MESTRON, MYCRON 
Chemicals: HEXIND, HEXTAR 
Finance-related: CIMB, PPJACK 
Utilities: MALAKOF, TALIWRK, YTLPOWR 
Technology & Telco: CORAZA, DSONIC, TM, UWC, VIS 
Others: EPMB, KFIMA, MEDIA  
 
Source: M+ Online

 

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