M+ Morning Market Buzz - 13 Dec 24

Dow Jones: 43,914.12 pts (-234.44pts, -0.53%)
⬆️ Resistance:  45900
⬇️ Support:  43100

FBM KLCI: 1,602.08 pts (-1.12pts, -0.07%)
⬆️ Resistance:  1650
⬇️ Support:  1570

HSI Index: 20,397.05 pts (+242.00pts, +1.20%)
⬆️ Resistance:  21500
⬇️ Support:  19200

Crude Palm Oil: RM4,921 (-RM2, -0.04%)
⬆️ Resistance:  5290
⬇️ Support:  4670

Brent Oil: $73.41 (-$0.11, -0.15%)
⬆️ Resistance:  75.50
⬇️ Support:  69.50

Gold: $2,680.73 (+$0.12, +0.00%)
⬆️ Resistance:  2790
⬇️ Support:  2570

M+ Market update – 13 Dec 24
YTL-related May Trade Positively With Ilmu 0.1

The FBMKLCI trended lower for the fifth consecutive day, with healthcare sector continued to decline. Similarly, the US market ended on a correction following some of the concerns of an overvalued market following last month’s US election. The Dow has also fell for a sixth consecutive day, marking its longest losing streak since April. Meanwhile, traders will also continue to monitor for Eurozone industrial production data later today. In the commodities market, Brent crude oil rose settled slightly lower near USD73 a barrel with expectations for a supply glut in 2025 countering geopolitical risks. Gold prices once again retreated below the USD2,700 mark, while the CPO prices continue to trade below the RM5,000 level after the hitting near the resistance along RM5,200.

Sector Focus: With the launching of AI Labs by YTL, also known as “Ilmu 0.1”, trading opportunities might continue to emerge across YTL-related counters and AI-related counter like NATGATE. Meanwhile, traders can focus on the data centre midstream industries under the Technology sector, such as IT solutions, cybersecurity, HDD, EMS and OSAT. Lastly, we like East Malaysia related counters given the recovery in their share prices and more IPOs to be seen in the near term.

Stocks to watch: 

Technology: *EDARAN*, FRONTKN, *KGB*, PANDA, VS
Building Material: SCGBHD, *UUE*
Shipping: *AGX*
Utilities: *KJTS*
Industrial Products: *MINOX*
Consumer: RGB

Source: M+

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