M+ Online Morning Market Buzz - 26 Jan 23 
 
Dow Jones: 33,743.84 pts (+9.88pts, +0.03%) 
⬆️ Resistance:  34500 
⬇️ Support:  32300 
 
FBM KLCI: 1,499.45 pts (-0.88pts, -0.06%) 
⬆️ Resistance:  1540 
⬇️ Support:  1470 
 
HSI Index: 22,044.65 pts (+393.67pts, +1.82%) 
⬆️ Resistance:  22500 
⬇️ Support:  21000 
 
Crude Palm Oil: RM3,747 (-RM6, -0.16%) 
⬆️ Resistance:  4030 
⬇️ Support:  3650 
 
Brent Oil: $86.18 (+$0.05, +0.06%) 
⬆️ Resistance:  90.90 
⬇️ Support:  82.10 
 
Gold: $1,946.11 (+$8.75, +0.45%) 
⬆️ Resistance:  1990 
⬇️ Support:  1870 
 
M+ Online Morning Market Buzz - 26 Jan 23 
 
Dow Jones: 33,743.84 pts (+9.88pts, +0.03%) 
⬆️ Resistance:  34500 
⬇️ Support:  32300 
 
FBM KLCI: 1,499.45 pts (-0.88pts, -0.06%) 
⬆️ Resistance:  1540 
⬇️ Support:  1470 
 
HSI Index: 22,044.65 pts (+393.67pts, +1.82%) 
⬆️ Resistance:  22500 
⬇️ Support:  21000 
 
Crude Palm Oil: RM3,747 (-RM6, -0.16%) 
⬆️ Resistance:  4030 
⬇️ Support:  3650 
 
Brent Oil: $86.18 (+$0.05, +0.06%) 
⬆️ Resistance:  90.90 
⬇️ Support:  82.10 
 
Gold: $1,946.11 (+$8.75, +0.45%) 
⬆️ Resistance:  1990 
⬇️ Support:  1870 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI failed to build onto the positive momentum from the pre-CNY moves as the key index lost ground on quick profit taking activities. Still, we are banking on the recovery theme from China which will boost the FBM KLCI above the 1,500 level, while the lower liners may continue to capitalise on the improved trading environment and enjoy further rotational play. Globally, the focus will shift to the preliminary reading of the US 4Q22 GDP data tonight. Commodities wise, the Brent crude oil edged slightly higher to stay above USD86/bbl, but the CPO price slipped below RM3,800/MT on further profit taking activities. 

Sector focus: The energy sector is expected to stay focus by the firm oil prices amid China’s recovery, while focusing on the OPEC meeting on 1st February 2023. The record high automotive total industry volume registered in 2022 may lift the automotive-related stocks. On the flipside, the financial services sector may undergo a consolidation following the pause of OPR hike by Bank Negara.

Stocks to watch: 
O&G: COASTAL, MHB, PENERGY
Technology: EG, FPGROUP, FRONTKN, MTAG
Consumer: BJFOOD, KEINHIN, MFLOUR
Telco: REDTONE, TIMECOM
Medical-related: CENGILD, YSPSAH 
Building Material: AJIYA, CHINHIN, KSSC
Others: DRBHCOM, TOYOVEN 

Source: M+ Online

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