M+ Morning Market Buzz - 14 Jan 25 
 
Dow Jones: 42,297.12 pts (+358.67pts, +0.86%) 
⬆️ Resistance:  43800 
⬇️ Support:  41100 
 
FBM KLCI: 1,585.59 pts (-16.82pts, -1.05%) 
⬆️ Resistance:  1670 
⬇️ Support:  1550 
 
HSI Index: 18,874.14 pts (-190.15pts, -1.00%) 
⬆️ Resistance:  20100 
⬇️ Support:  18300 
 
Crude Palm Oil: RM4,500 (-RM14, -0.31%) 
⬆️ Resistance:  4640 
⬇️ Support:  4150 
 
Brent Oil: $79.76 (+$1.21, +1.52%) 
⬆️ Resistance:  83.40 
⬇️ Support:  74.20 
 
Gold: $2,663.16 (+$0.08, +0.00%) 
⬆️ Resistance:  2760 
⬇️ Support:  2590 

M+ Market Update – 14 Jan 25
Bumpy Ride On Bursa Exchange To Persist

The local bourse began the week on a negative note, tracking the weaker overnight performance in the US, coupled with the announcement over the weekend of chip export curb affecting Malaysia. While dip-buying was observed in the Dow Jones, Wall Street closed on a mixed note as traders awaited US inflation data, set to be released this Wednesday, for more insight into the pace of rate cuts in 2025. In the commodities market, Brent crude oil traded above USD80, gold prices retreated below USD2,700, and CPO prices gapped up, trading nearer towards RM4,500.

Sector Focus We believe the local bourse may continue to experience volatility due to the chip export curb announcement. However, trading opportunities may emerge within the O&G sector, supported by US sanctions on Russian oil and declining US inventories, which continue to drive a rebound in Brent crude oil. In the technology sector, the upside potential may be limited following the recent announcements President Biden, but we anticipate some oversold buying opportunities in the EMS, OSAT and ATE players, driven by a strengthening dollar. Also, we think Gamuda will boost the sentiment in the Construction sector, after securing the Penang LRT contract. We remain positive on Property stocks in Johor, following the JSSEZ initiatives.

Stocks to watch: 

Finance: *ABMB*, AMBANK
Technology: *AWANTEC*
Utility: PEKAT
O&G: *YINSON*
Consumer: *FOCUSP*

Source: M+

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