M+ Morning Market Buzz - 24 Jan 25

Dow Jones: 44,565.07 pts (+408.34pts, +0.92%)
⬆️ Resistance:  45500
⬇️ Support:  42500

FBM KLCI: 1,577.20 pts (-10.60pts, -0.67%)
⬆️ Resistance:  1630
⬇️ Support:  1520

HSI Index: 19,700.56 pts (-78.21pts, -0.40%)
⬆️ Resistance:  20700
⬇️ Support:  19100

Crude Palm Oil: RM4,190 (+RM26, +0.62%)
⬆️ Resistance:  4370
⬇️ Support:  4030

Brent Oil: $79.00 (-$1.16, -1.47%)
⬆️ Resistance:  83.60
⬇️ Support:  76.30

Gold: $2,754.87 (-$0.17, -0.01%)
⬆️ Resistance:  2820
⬇️ Support:  2640

M+ Market Update – 23 Jan 25
Renewable Energy Remains On The Radar
 
The local bourse snapped its 4-days winning streak, with all eyes focusing on KOPI’s IPO surge of more than 100% before closing at 87.5 sen. In the US, markets rose after President Trump’s World Economic Forum speech, where he announced plans to urge OPEC nations to lower oil prices to curb inflation and would then push for further interest rates cut, boosting optimism on Wall Street. Investors will also be monitoring BoJ’s interest rate decision today, whereby BoJ governor had signalled potential rate hikes.  In the commodities market, Brent crude oil remains below the USD80 mark following Trump’s speech. Gold price traded flat along USD2750 level, while CPO prices rebounded marginally above the RM4,200 level.

Sector Focus: With YTL and YTLPOWR’s recent plan for bonus warrant issuances, together with YTLPOWR's secured access to Nvidia chips despite US export curbs, we believe that bargain-hunting opportunities will emerge within the YTL-related counters. Meanwhile, we expect the ongoing NETR and LSS projects, coupled with the data center boom are expected to drive higher electricity demand, providing an upside for the Renewable Energy segment. Lastly, given its strong popularity in town, trading interest within the newly listed KOPI is likely to persist. 

Stocks to watch: 

Utility: BMGREEN, *KENERGY*, *KJTS*, *PEKAT*
Consumer: *FOCUSP*, *GCB*, TEOSENG
Construction: SENDAI, UNIQUE
Logistics: WPRTS

Source: M+

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