M+ Morning Market Buzz - 20 Jan 25 
 
Dow Jones: 43,487.83 pts (+334.70pts, +0.78%) 
⬆️ Resistance:  44600 
⬇️ Support:  41100 
 
FBM KLCI: 1,566.72 pts (+11.18pts, +0.72%) 
⬆️ Resistance:  1640 
⬇️ Support:  1520 
 
HSI Index: 19,584.06 pts (+61.17pts, +0.31%) 
⬆️ Resistance:  20100 
⬇️ Support:  18300 
 
Crude Palm Oil: RM4,190 (+RM4, +0.10%) 
⬆️ Resistance:  4640 
⬇️ Support:  4030 
 
Brent Oil: $80.79 (+$0.17, +0.21%) 
⬆️ Resistance:  84.30 
⬇️ Support:  78.10 
 
Gold: $2,703.25 (-$5.80, -0.21%) 
⬆️ Resistance:  2780 
⬇️ Support:  2610 

M+ Market Update – 20 Jan 25
Market Rebounded After Hitting Oversold Zone
 
The local bourse closed higher, led by the Utilities and Banking heavyweights. In the US, softer-than-expected inflationary data, coupled with stronger earnings from major banks had contributed to the buying interest on Wall Street. Meanwhile, all eyes will be focusing on President Trump’s inauguration speech later today. In the commodities market, Brent crude oil experienced a marginal pullback below the USD81 level, while gold price is hovering above USD2,700. In anticipation of Trump’s supportive stance towards cryptocurrency, Bitcoin continued to stay elevated above the USD100k mark, while CPO prices rebounded slightly to close at RM4,190.

Sector Focus: As Malaysia is heading the ASEAN chair this year, we are optimistic on the Renewable Energy and Tourism sectors. With Trump’s inauguration, the anticipated intensified US-China trade war could benefit the Technology sector. Lastly, state-specific theme plays like Penang LRT development, Sarawak as a regional energy hub and also formalisation of JS-SEZ may boost the Construction and Property sectors in the near to mid-term.

Stocks to watch: 

Technology: ADB, EG, *FRONTKN*, *ITMAX*, *RAMSSOL*
Renewable: PEKAT, SLVEST
O&G: *ARMADA*
Construction: *SENDAI*
Consumer: GCB

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