M+ Online Morning Market Buzz - 3 Mar 23 
 
Dow Jones: 33,003.57 pts (+341.73pts, +1.05%) 
⬆️ Resistance:  33900 
⬇️ Support:  31900 
 
FBM KLCI: 1,455.49 pts (+5.29pts, +0.36%) 
⬆️ Resistance:  1490 
⬇️ Support:  1420 
 
HSI Index: 20,429.46 pts (-190.25pts, -0.92%) 
⬆️ Resistance:  21100 
⬇️ Support:  19400 
 
Crude Palm Oil: RM4,291 (-RM3, -0.07%) 
⬆️ Resistance:  4520 
⬇️ Support:  4060 
 
Brent Oil: $84.75 (+$0.44, +0.52%) 
⬆️ Resistance:  86.90 
⬇️ Support:  79.50 
 
Gold: $1,835.87 (-$0.85, -0.05%) 
⬆️ Resistance:  1890 
⬇️ Support:  1770 
 
Source: Bloomberg, M+ Online

Market update: The FBM KLCI shook off early losses and rebounded from the 1,450 immediate support level, as bargain hunting activities kicked in. Given the Wall Street accelerated into the green territory overnight as one of the Federal Reserve official’s remarks were more dovish on interest rate direction, we believe the relief rally could spill over to the local bourse.  Nevertheless, we believe the upside of the market may be limited until the conclusion of the FOMC meeting this month. Commodities wise, the Brent crude oil traded above USD84, while the CPO price hovered above RM4,290. 
 
Sector focus: The energy sector may remain in focus given the firmer crude oil price. Besides, the banking, consumer, utilities and telecommunication sectors may be in pace for further acceleration amid global uncertainties.

Stocks to watch: 
Consumer: CCK, KTC, MFLOUR
O&G: PERDANA, T7GLOBAL, YINSON
Construction: MUHIBAH, NADIBHD
Tech & Telco: AXIATA, UNISEM
Building material: EFRAME, SIGN
Others: EWEIN, PPHB, PTRANS, SMRT, YENHER, YTLPOWR

Source: M+ Online

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