M+ Morning Market Buzz - 15 Jan 25 
 
Dow Jones: 42,518.28 pts (+221.16pts, +0.52%) 
⬆️ Resistance:  43600 
⬇️ Support:  41100 
 
FBM KLCI: 1,576.46 pts (-9.13pts, -0.58%) 
⬆️ Resistance:  1670 
⬇️ Support:  1550 
 
HSI Index: 19,219.78 pts (+345.64pts, +1.83%) 
⬆️ Resistance:  19900 
⬇️ Support:  18300 
 
Crude Palm Oil: RM4,437 (+RM8, +0.18%) 
⬆️ Resistance:  4640 
⬇️ Support:  4150 
 
Brent Oil: $81.01 (-$0.61, -0.75%) 
⬆️ Resistance:  83.40 
⬇️ Support:  74.20 
 
Gold: $2,677.46 (-$5.29, -0.20%) 
⬆️ Resistance:  2760 
⬇️ Support:  2600 

M+ Market Update – 15 Jan 25
 Focus Returns to Domestic and Stronger Dollar Catalysts

The local bourse continued its sell-off, dragged down by Utilities and Construction heavyweights. While US PPI data came in softer, Wall Street closed mixed ahead of another inflation data release tonight, where we foresee softer data would indicate easing inflationary pressure, in turn boosting the sentiment in both global and local markets. In the commodities market, Brent crude oil retreated due to profit-taking, trading around USD79/barrel, while gold rebounded to USD2,670/ounce after the softer PPI data. CPO prices hovering around RM4,450, closing the gap from the previous day's trading session.

Sector Focus: Despite Brent oil retreated on profit-taking, we believe the recent announcement of Yinson receiving USD1bn in CapEx could lift sentiment in the Energy sector. With the recent announcement from President Biden limiting AI chip exports to Malaysia, which may cap the upside on the Technology sector, we see trading opportunities in the oversold EMS, OSAT, and ATE players, benefiting from the 'stronger for longer' dollar outlook. Besides, we expect buying opportunities to emerge in the Construction sector, as there are still several packages yet to be announced after Gamuda won the Penang LRT contract, while Property players with large landbanks in Johor could benefit from the JSSEZ initiatives.

Stocks to watch: 

Technology: *CUSCAPI*, *RAMSSOL*
Utility: *KJTS*, MALAKOF 
Construction: *BNASTRA*
Automotive: BETA

Source: M+

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.