M+ Online Morning Market Buzz - 2 Mar 23 
 
Dow Jones: 32,661.84 pts (+5.14pts, +0.02%) 
⬆️ Resistance:  34000 
⬇️ Support:  31900 
 
FBM KLCI: 1,450.20 pts (-3.99pts, -0.27%) 
⬆️ Resistance:  1500 
⬇️ Support:  1420 
 
HSI Index: 20,619.71 pts (+833.77pts, +4.21%) 
⬆️ Resistance:  21100 
⬇️ Support:  19400 
 
Crude Palm Oil: RM4,208 (+RM26, +0.62%) 
⬆️ Resistance:  4360 
⬇️ Support:  4060 
 
Brent Oil: $84.31 (+$0.42, +0.50%) 
⬆️ Resistance:  86.20 
⬇️ Support:  78.80 
 
Gold: $1,836.72 (+$9.80, +0.54%) 
⬆️ Resistance:  1890 
⬇️ Support:  1770 
 
M+ Online Technical Trading Stocks - 2 Mar 23 
 
Stock Name: UMC (0256) 
Entry: Buy above RM0.785 
Target: RM0.855 (8.9%), RM0.885 (12.7%) 
Stop: RM0.735 (-6.4%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Stock Name: SAMAIDEN (0223) 
Entry: Buy above RM0.865 
Target: RM0.90 (4.0%), RM0.95 (9.8%) 
Stop: RM0.83 (-4.0%) 
Shariah: Yes 
Technical: Monitor for breakout 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI kicked off March 2023 with losses given the lack-of-fresh-catalyst environment. Regional markets, however, traded in a positive-bias tone after stronger-than-expected manufacturing data from China suggesting that the reopening since January is boding well for the economic recovery; while Wall Street stocks headed south as inflation data from Germany indicate that the global interest rate hikes may continue to stay elevated. Despite the global uncertainties, we believe the local bourse may be due for a rebound. Commodities wise, the Brent crude oil traded above USD84, while the CPO price hovered above RM4,200. 
 
Sector focus: Following Miti’s approval on Tesla’s application to import battery electric vehicles (EV) into Malaysia, the EV related counters may see buying momentum. Besides, the energy and plantation sectors may gain traction along with firmer commodities prices. Renewable energy sectors could also be in focus.

Stocks to watch: 
Technology: ATECH, CORAZA, D&O, GENETEC, GREATEC, VITROX
Consumer: KTC, MFLOUR, SDS
Power-related: JSB, YTLPOWR
Others: CGB, MUHIBAH, PECCA, REDTONE, SAMAIDEN, SYF

Source: M+ Online

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