M+ Morning Market Buzz - 7 Feb 25

Dow Jones: 44,747.63 pts (-125.65pts, -0.28%)
⬆️ Resistance:  46000
⬇️ Support:  43100

FBM KLCI: 1,585.17 pts (+10.66pts, +0.68%)
⬆️ Resistance:  1620
⬇️ Support:  1520

HSI Index: 20,891.62 pts (+294.53pts, +1.43%)
⬆️ Resistance:  21400
⬇️ Support:  19400

Crude Palm Oil: RM4,403 (+RM8, +0.18%)
⬆️ Resistance:  4520
⬇️ Support:  4170

Brent Oil: $74.29 (-$0.32, -0.43%)
⬆️ Resistance:  79.10
⬇️ Support:  72.70

Gold: $2,856.28 (+$0.69, +0.02%)
⬆️ Resistance:  2950
⬇️ Support:  2720

M+ Market Update – 07 Feb 25
 Malaysia Poised For A Stronger Rebound
 
The local bourse edged higher for the fourth day, buoyed by gains in MAYBANK and PETGAS. In the US, Wall Street closed mixed, with S&P 500 and Nasdaq posting gains, but the Dow ended lower, as initial jobless claims data came in higher-than-expected. All eyes will be on the nonfarm payrolls later today, which will help Fed determine the path of interest rates ahead. In the commodities market, Brent crude oil dipped towards USD74.3 per barrel following Trump’s renewed pledge on bringing down oil prices, while gold prices retreated marginally from its all-time high, trading around USD2,856 level. Meanwhile, CPO prices regained momentum and broke above the RM4,400 mark.

Sector Focus: Amid the ongoing US-China trade war, we opine that the local Gloves and Technology counters will benefit from the rising tensions. The trade war could also prompt manufacturers to diversify their production bases, further solidifying the China+1 strategy and strengthening Malaysia’s position as a strategic industrial hub, which may benefit the Construction, Building Materials, and Utilities sectors. Lastly, traders can also look into the newly listed solar-related IPO, Northern Solar ( M+ TP: RM1.12), which gained 25% on its ACE Market debut yesterday.

Stocks to watch: 

Technology: *ADB*, *CORAZA*, *GENETEC*, *MYEG*
Healthcare: KPJ, *SUPERMX*
Consumer: *GCB*
Utility: PEKAT
Logistics: AGX

Source: M+

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