M+ Morning Market Buzz - 6 Feb 25

Dow Jones: 44,873.28 pts (+317.24pts, +0.71%)
⬆️ Resistance:  46000
⬇️ Support:  43100

FBM KLCI: 1,574.51 pts (+9.95pts, +0.64%)
⬆️ Resistance:  1610
⬇️ Support:  1520

HSI Index: 20,597.09 pts (-192.87pts, -0.93%)
⬆️ Resistance:  21400
⬇️ Support:  19400

Crude Palm Oil: RM4,334 (-RM17, -0.39%)
⬆️ Resistance:  4510
⬇️ Support:  4170

Brent Oil: $74.61 (-$1.59, -2.09%)
⬆️ Resistance:  79.20
⬇️ Support:  72.70

Gold: $2,867.24 (+$1.18, +0.04%)
⬆️ Resistance:  2950
⬇️ Support:  2710

M+ Market Update – 06 Feb 25
Tech Sector Set To Regain Momentum
 
The local bourse nudged higher as data centre-related counters regained traction for the session. In the US, Wall Street continued its upward strength for the third day, buoyed by gains in Nvidia and Super Micro. The falling Treasury yields driven by softer ISM Services PMI, have further boosted the interest rate-sensitive tech sector. Following that, traders will continue to monitor the initial jobless claims later today. In the commodities market, Brent crude oil dipped towards USD74.6 per barrel following the increase in crude oil inventories, while gold prices continue to chart new all-time high at USD2,867. CPO prices held above RM4,300 despite a minor pullback.

Sector Focus: Given that President Trump has maintained his 10% tariff on China’s products, we opine that the local Gloves and Technology counters may trade higher as the trade war persists. Meanwhile, bargain-hunting opportunities may extend in the Construction sector, as JSSEZ developments and Malaysia’s ongoing data centre boom. Besides, traders may focus on high-dividend-yield sectors like Banking and REITs, given the prevailing uncertainty and expectations of a stable 3% OPR throughout the year, alongside higher reported net income recently from REITs.

Stocks to watch: 

Technology: ADB, *ITMAX*
Plantation: *JTIASA*, TSH
Utility: *BMGREEN*
Logistics: *AGX*
Consumer: *SDS*
O&G: *HAWK*
Construction: BNASTRA
IFM: AWC

Source: M+

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