M+ Online Morning Market Buzz - 26 Oct 22 
 
Dow Jones: 31,836.74 pts (+337.12pts, +1.07%) 
⬆️ Resistance:  32600 
⬇️ Support:  29700 
 
FBM KLCI: 1,444.41 pts (-2.01pts, -0.14%) 
⬆️ Resistance:  1490 
⬇️ Support:  1380 
 
HSI Index: 15,165.59 pts (-15.10pts, -0.10%) 
⬆️ Resistance:  17300 
⬇️ Support:  14700 
 
Crude Palm Oil: RM4,155 (+RM28, +0.68%) 
⬆️ Resistance:  4350 
⬇️ Support:  3940 
 
Brent Oil: $93.52 (+$0.26, +0.28%) 
⬆️ Resistance:  96.70 
⬇️ Support:  87.60 
 
Gold: $1,653.17 (+$3.39, +0.21%) 
⬆️ Resistance:  1710 
⬇️ Support:  1590 
 
M+ Online Technical Focus - 26 Oct 22 
Kein Hing International Bhd: Production capacity expansion 
 
Trading Catalyst 
• Established since 1981 and engages in the supply of parts and metal components to various industries such as automotive, electrical & electronics, home appliances and audio-visual equipment industries. 
• Undertaking expansion at Vietnam that entails the construction of a single-storey factory with a total built-up of approximately 53,000 sqf. 
• Proceeds from impending disposal of a clutch of properties at Seri Kembangan for RM4.5m will be mainly utilise to fund the manufacturing expansion at Vietnam. 
• Technically, price has formed a short-term flag-formation breakout above RM1.26, targeting the next resistances at RM1.34-1.40 with long term target set at RM1.50. 
 
Technical View 
 
(i) KEINHIN (S: RM1.20, R: RM1.34-1.40, LT TP: RM1.50, CL: RM1.19) 
 
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI took a breather from earlier losses as profit-taking activities emerged in Petronas-related and selected banking heavyweights. However, we believe the buying interest could spillover from Wall Street to stocks on the local front, coupled with the foreign investors turning net buyers (5-day net buy valued at RM37.1m). Meanwhile, traders might be attuning towards GE15 theme or re-tabling of Budget 2023 after the GE15. Commodities wise, the crude oil price traded above USD93, while the CPO price hovered above RM4,150. 

Sector focus: The telecommunications & media sector may continue to stay active with the ongoing 5G rollout, while waiting for the re-tabling of Budget 2023. For GE15 theme, we like construction, building materials, as well as selected banking stocks. Meanwhile, the technology sector may track the solid overnight gains in Nasdaq.

Stocks to watch: 

Consumer: INNATURE, KEINHIN
Telco: AXIATA, TIMECOM
Plantation: BPLANT, CEPAT, JTIASA
Transportation & Logistics: AIRPORT, WPRTS 
Building material: EFRAME, MCEMENT, YBS
Technology: CTOS, FPGROUP, INFOTEC
Others: AMTEL, CENGILD, SAMAIDEN, TAFI, TGUAN

Source: M+ Online

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