M+ Online Market Wrap - 4Oct23
FBM KLCI: 1,415.84 pts (-4.17pts, -0.29%)
The FBM KLCI (-0.29%) ended lower in line with the negative performances across regional stock markets as investors continues to trade cautiously amid the elevated interest rates environment, coupled with with the 30-year US Treasury yields spiked above 5% (16-year high). Market breadth was negative with losers led gainers by 730-to-255 stocks. On the broader market, the Telecommunications & Media sector (-1.63%) ended lower following the selling pressure in CDB (-4.0 sen) and MAXIS (-5.0 sen), while the Energy sector fell 1.57% led by VELESTO (-1.0 sen) and DIALOG (-1.0 sen), due to the recent weakness in Brent oil prices.
Top 3 Active stocks:
KNM (7164): RM0.165 (+1.5 sen)
SEALINK (5145): RM0.225 (+3.5 sen)
EMCC (0286): RM0.460 (+0.5 sen)
Volume: 3.03 bn (100-day avg vol: 3.18 bn)
Value: RM2.23 bn (100-day avg val: RM2.03 bn)
Market Breadth: ⬆️255 ⬇️730
Crude palm oil: RM3,715 (+RM7)
Dow Futures: 33,204 pts (+3 pts)
**Source: Bloomberg, M+ Online**
FBM KLCI: 1,415.84 pts (-4.17pts, -0.29%)
The FBM KLCI (-0.29%) ended lower in line with the negative performances across regional stock markets as investors continues to trade cautiously amid the elevated interest rates environment, coupled with with the 30-year US Treasury yields spiked above 5% (16-year high). Market breadth was negative with losers led gainers by 730-to-255 stocks. On the broader market, the Telecommunications & Media sector (-1.63%) ended lower following the selling pressure in CDB (-4.0 sen) and MAXIS (-5.0 sen), while the Energy sector fell 1.57% led by VELESTO (-1.0 sen) and DIALOG (-1.0 sen), due to the recent weakness in Brent oil prices.
Top 3 Active stocks:
KNM (7164): RM0.165 (+1.5 sen)
SEALINK (5145): RM0.225 (+3.5 sen)
EMCC (0286): RM0.460 (+0.5 sen)
Volume: 3.03 bn (100-day avg vol: 3.18 bn)
Value: RM2.23 bn (100-day avg val: RM2.03 bn)
Market Breadth: ⬆️255 ⬇️730
Crude palm oil: RM3,715 (+RM7)
Dow Futures: 33,204 pts (+3 pts)
**Source: Bloomberg, M+ Online**
M+ Online Morning Market Buzz - 5Oct23
Dow Jones: 33,129.55 pts (+127.17pts, +0.39%)
⬆️ Resistance: 34600
⬇️ Support: 32300
FBM KLCI: 1,415.84 pts (-4.17pts, -0.29%)
⬆️ Resistance: 1470
⬇️ Support: 1390
HSI Index: 17,195.84 pts (-135.38pts, -0.78%)
⬆️ Resistance: 18300
⬇️ Support: 16800
Crude Palm Oil: RM3,701 (-RM14, -0.38%)
⬆️ Resistance: 3930
⬇️ Support: 3620
Brent Oil: $85.81 (-$5.11, -5.62%)
⬆️ Resistance: 99.70
⬇️ Support: 84.10
Gold: $1,821.36 (-$1.66, -0.09%)
⬆️ Resistance: 1920
⬇️ Support: 1780
**Source: Bloomberg, M+ Online**
Dow Jones: 33,129.55 pts (+127.17pts, +0.39%)
⬆️ Resistance: 34600
⬇️ Support: 32300
FBM KLCI: 1,415.84 pts (-4.17pts, -0.29%)
⬆️ Resistance: 1470
⬇️ Support: 1390
HSI Index: 17,195.84 pts (-135.38pts, -0.78%)
⬆️ Resistance: 18300
⬇️ Support: 16800
Crude Palm Oil: RM3,701 (-RM14, -0.38%)
⬆️ Resistance: 3930
⬇️ Support: 3620
Brent Oil: $85.81 (-$5.11, -5.62%)
⬆️ Resistance: 99.70
⬇️ Support: 84.10
Gold: $1,821.36 (-$1.66, -0.09%)
⬆️ Resistance: 1920
⬇️ Support: 1780
**Source: Bloomberg, M+ Online**
Market update – 5Oct23
The FBM KLCI has declined for another session, but we believe it is currently oversold and may be due for a rebound. Given the Wall Street rebounded overnight on the back of easing Treasury yields after the US Sep ADP Employment came in weaker than expectations. Hence, we expect the buying interest to spillover to stocks on the local front. Investors may still position ahead of the Budget 2024 which will be held next Friday. Commodities wise, the Brent crude oil plunged nearly 6%, closing below the USD86/bbl level amid recession fear amid elevated bond yield environment, while the CPO prices traded around RM3,700/MT level.
Sector focus: With Wall Street turning more positively overnight, we believe the buying support may spillover to our local exchange, specifically within the Technology sector. However, the Energy sector will be under pressure amid a plunge in Brent oil prices. Nevertheless, traders should focus on domestic driven catalysts in the near term from the NETR, NIMP as well as the upcoming Budget 2024. We opine that the trading activities may emerge within the Construction, Building Materials and Property sectors.
Stocks to watch:
Building material: HIAPTEK, PWRWELL
Financial: RCECAP
Telco: TIMECOM
Construction: HSSEB, MRCB
Technology: AIMFLEX, MI
Renewables: SLVEST
Others: HEXTAR
Source: M+ Online
The FBM KLCI has declined for another session, but we believe it is currently oversold and may be due for a rebound. Given the Wall Street rebounded overnight on the back of easing Treasury yields after the US Sep ADP Employment came in weaker than expectations. Hence, we expect the buying interest to spillover to stocks on the local front. Investors may still position ahead of the Budget 2024 which will be held next Friday. Commodities wise, the Brent crude oil plunged nearly 6%, closing below the USD86/bbl level amid recession fear amid elevated bond yield environment, while the CPO prices traded around RM3,700/MT level.
Sector focus: With Wall Street turning more positively overnight, we believe the buying support may spillover to our local exchange, specifically within the Technology sector. However, the Energy sector will be under pressure amid a plunge in Brent oil prices. Nevertheless, traders should focus on domestic driven catalysts in the near term from the NETR, NIMP as well as the upcoming Budget 2024. We opine that the trading activities may emerge within the Construction, Building Materials and Property sectors.
Stocks to watch:
Building material: HIAPTEK, PWRWELL
Financial: RCECAP
Telco: TIMECOM
Construction: HSSEB, MRCB
Technology: AIMFLEX, MI
Renewables: SLVEST
Others: HEXTAR
Source: M+ Online
M+ Online Technical Trading Stocks - 5Oct23
Stock Name: SLVEST (0215)
Entry: Buy above RM1.300
Target: RM1.360 (4.6%), RM1.420 (9.2%)
Stop: RM1.260 (-3.1%)
Shariah: Yes
Technical: Flag-formation breakout
Stock Name: HSSEB (0185)
Entry: Buy above RM0.795
Target: RM0.825 (3.8%), RM0.850 (6.9%)
Stop: RM0.775 (-2.5%)
Shariah: Yes
Technical: Monitor for breakout
Source: Bloomberg, M+ Online
Stock Name: SLVEST (0215)
Entry: Buy above RM1.300
Target: RM1.360 (4.6%), RM1.420 (9.2%)
Stop: RM1.260 (-3.1%)
Shariah: Yes
Technical: Flag-formation breakout
Stock Name: HSSEB (0185)
Entry: Buy above RM0.795
Target: RM0.825 (3.8%), RM0.850 (6.9%)
Stop: RM0.775 (-2.5%)
Shariah: Yes
Technical: Monitor for breakout
Source: Bloomberg, M+ Online
FBM KLCI: 1,415.60 pts (-0.24pts, -0.02%)
The FBM KLCI (-0.02%) ended flat as profit taking activities emerged from the intraday high of 1,420 zone as cautious sentiment prevails amid the elevated US Treasury yield environment. Market breadth was postive with gainers led losers by 453-to-355 stocks. On the broader market, the Construction sector (+1.24%) ended higher following the buying pressure in GAMUDA (+7.0 sen) and SUNCON (+7.0 sen) ahead of the Budget 2024, while the Energy sector fell 1.02% led by DIALOG (-2.0 sen) and YINSON (-2.0 sen), due to the continued downtrend in Brent oil prices.
Top 3 Active stocks:
KNM (7164): RM0.175 (+1.0 sen)
SCIB (9237): RM0.495 (+2.0 sen)
EKOVEST (8877): RM0.540 (+0.5 sen)
Volume: 3.11 bn (100-day avg vol: 3.18 bn)
Value: RM2.26 bn (100-day avg val: RM2.04 bn)
Market Breadth: ⬆️453 ⬇️355
Crude palm oil: RM3,608 (-RM107)
Dow Futures: 33,197 pts (-129 pts)
**Source: Bloomberg, M+ Online**
The FBM KLCI (-0.02%) ended flat as profit taking activities emerged from the intraday high of 1,420 zone as cautious sentiment prevails amid the elevated US Treasury yield environment. Market breadth was postive with gainers led losers by 453-to-355 stocks. On the broader market, the Construction sector (+1.24%) ended higher following the buying pressure in GAMUDA (+7.0 sen) and SUNCON (+7.0 sen) ahead of the Budget 2024, while the Energy sector fell 1.02% led by DIALOG (-2.0 sen) and YINSON (-2.0 sen), due to the continued downtrend in Brent oil prices.
Top 3 Active stocks:
KNM (7164): RM0.175 (+1.0 sen)
SCIB (9237): RM0.495 (+2.0 sen)
EKOVEST (8877): RM0.540 (+0.5 sen)
Volume: 3.11 bn (100-day avg vol: 3.18 bn)
Value: RM2.26 bn (100-day avg val: RM2.04 bn)
Market Breadth: ⬆️453 ⬇️355
Crude palm oil: RM3,608 (-RM107)
Dow Futures: 33,197 pts (-129 pts)
**Source: Bloomberg, M+ Online**
M+ Online Morning Market Buzz - 6Oct23
Dow Jones: 33,119.57 pts (-9.98pts, -0.03%)
⬆️ Resistance: 34600
⬇️ Support: 32300
FBM KLCI: 1,415.60 pts (-0.24pts, -0.02%)
⬆️ Resistance: 1470
⬇️ Support: 1390
HSI Index: 17,213.87 pts (+18.03pts, +0.10%)
⬆️ Resistance: 18300
⬇️ Support: 16800
Crude Palm Oil: RM3,600 (-RM7, -0.19%)
⬆️ Resistance: 3930
⬇️ Support: 3540
Brent Oil: $84.07 (-$1.74, -2.03%)
⬆️ Resistance: 98.20
⬇️ Support: 82.20
Gold: $1,820.30 (-$1.06, -0.06%)
⬆️ Resistance: 1920
⬇️ Support: 1780
**Source: Bloomberg, M+ Online**
Dow Jones: 33,119.57 pts (-9.98pts, -0.03%)
⬆️ Resistance: 34600
⬇️ Support: 32300
FBM KLCI: 1,415.60 pts (-0.24pts, -0.02%)
⬆️ Resistance: 1470
⬇️ Support: 1390
HSI Index: 17,213.87 pts (+18.03pts, +0.10%)
⬆️ Resistance: 18300
⬇️ Support: 16800
Crude Palm Oil: RM3,600 (-RM7, -0.19%)
⬆️ Resistance: 3930
⬇️ Support: 3540
Brent Oil: $84.07 (-$1.74, -2.03%)
⬆️ Resistance: 98.20
⬇️ Support: 82.20
Gold: $1,820.30 (-$1.06, -0.06%)
⬆️ Resistance: 1920
⬇️ Support: 1780
**Source: Bloomberg, M+ Online**
Market update – 6Oct23
The FBM KLCI turned flat as the profit taking activities emerged in the first session of trading. Wall Street continues to trade lower overnight, affected by the US Treasury yield environment, while the market could be looking for possible clues in the upcoming Friday’s monthly jobs report to understand the Fed’s interest rate direction going forward. On the local front, we anticipate that the traders may focus on domestic catalysts such as NETR and NIMP for trading opportunities. Commodities wise, the Brent crude oil extended the selldown, closing below the USD85/bbl level due to weak demand for gasoline in the US even as production dropped, while the CPO prices headed lower towards RM3,600/MT level.
Sector focus: The investors may focus on fundamentally solid companies which have earnings growth over the past 2 quarters. Meanwhile, we like stocks that may benefit under the NETR and NIMP blueprints, while the traders may position for the upcoming Budget 2024; namely the renewable energy, construction, property and building materials. However, the Energy sector is likely to be pressured amid falling Brent oil prices.
Stocks to watch:
Building material: MIKROMB, PWRWELL, WELLCAL
Financial: MNRB
Consumer: APOLLO
Renewables: SLVEST
Telco: TIMECOM
Construction: HSSEB
Others: AIRPORT, GLOTEC
_Source: M+ Online_
The FBM KLCI turned flat as the profit taking activities emerged in the first session of trading. Wall Street continues to trade lower overnight, affected by the US Treasury yield environment, while the market could be looking for possible clues in the upcoming Friday’s monthly jobs report to understand the Fed’s interest rate direction going forward. On the local front, we anticipate that the traders may focus on domestic catalysts such as NETR and NIMP for trading opportunities. Commodities wise, the Brent crude oil extended the selldown, closing below the USD85/bbl level due to weak demand for gasoline in the US even as production dropped, while the CPO prices headed lower towards RM3,600/MT level.
Sector focus: The investors may focus on fundamentally solid companies which have earnings growth over the past 2 quarters. Meanwhile, we like stocks that may benefit under the NETR and NIMP blueprints, while the traders may position for the upcoming Budget 2024; namely the renewable energy, construction, property and building materials. However, the Energy sector is likely to be pressured amid falling Brent oil prices.
Stocks to watch:
Building material: MIKROMB, PWRWELL, WELLCAL
Financial: MNRB
Consumer: APOLLO
Renewables: SLVEST
Telco: TIMECOM
Construction: HSSEB
Others: AIRPORT, GLOTEC
_Source: M+ Online_
M+ Online Technical Focus - 6Oct23
Solarvest Holdings Bhd: Gaining traction with RE objectives and NETR blueprints
Trading Catalyst
• Solarvest is a leading clean energy expert which offers clean energy solutions.
• SLVEST’s earnings have been consistently rising towards RM6.7m in 1Q24 from RM0.2m in 1Q22.
• SLVEST was awarded a new contract from Toyo Tyre Malaysia in end-Aug, while securing 11 solar PV projects in Vietnam last week. As of Jun-23, SLVEST’s orderbook stood at RM457m.
• SLVEST experienced a flag formation breakout. Next resistance is at RM1.43-1.48, with LT target at RM1.55, while the support is located around RM1.28-1.30, with the cut loss set around RM1.26.
Technical View
(i) SLVEST (S: RM1.28-1.30, R: RM1.43-1.48, LT TP: RM1.55, CL: RM1.26)
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss
Source: Bloomberg, M+ Online
Solarvest Holdings Bhd: Gaining traction with RE objectives and NETR blueprints
Trading Catalyst
• Solarvest is a leading clean energy expert which offers clean energy solutions.
• SLVEST’s earnings have been consistently rising towards RM6.7m in 1Q24 from RM0.2m in 1Q22.
• SLVEST was awarded a new contract from Toyo Tyre Malaysia in end-Aug, while securing 11 solar PV projects in Vietnam last week. As of Jun-23, SLVEST’s orderbook stood at RM457m.
• SLVEST experienced a flag formation breakout. Next resistance is at RM1.43-1.48, with LT target at RM1.55, while the support is located around RM1.28-1.30, with the cut loss set around RM1.26.
Technical View
(i) SLVEST (S: RM1.28-1.30, R: RM1.43-1.48, LT TP: RM1.55, CL: RM1.26)
S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss
Source: Bloomberg, M+ Online
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FBM KLCI: 1,416.88 pts (+1.28pts, +0.09%)
Despite the profit taking activities in the morning session, the FBM KLCI (+0.09%) ended marginally higher as buying support was noticed within the index heavyweights; more than 60% of the index members ended in the positive territory. Meanwhile, the investors will be eyeing on the upcoming US jobs data to be released later tonight. Market breadth was positive with advancers led decliners by 449-to-407 stocks. On the broader market, the Construction sector (+0.92%) ended higher following the buying support in WCEHB (+5.0 sen) and IJM (+3.0 sen) ahead of the Budget 2024, while the Healthcare sector fell 0.74% due to the selling pressure in glove counters led by TOPGLOV (-3.0 sen) and HARTA (-4.0 sen).
Top 3 Active stocks:
SAPNRG (5218): RM0.050 (unch)
KNM (7164): RM0.170 (-0.5 sen)
TOPGLOV (7113): RM0.755 (-3.0 sen)
Volume: 2.86 bn (100-day avg vol: 3.18 bn)
Value: RM2.09 bn (100-day avg val: RM2.04 bn)
Market Breadth: ⬆️449 ⬇️407
Crude palm oil: RM3,608 (+RM1)
Dow Futures: 33,316 pts (+12 pts)
**Source: Bloomberg, M+ Online**
Despite the profit taking activities in the morning session, the FBM KLCI (+0.09%) ended marginally higher as buying support was noticed within the index heavyweights; more than 60% of the index members ended in the positive territory. Meanwhile, the investors will be eyeing on the upcoming US jobs data to be released later tonight. Market breadth was positive with advancers led decliners by 449-to-407 stocks. On the broader market, the Construction sector (+0.92%) ended higher following the buying support in WCEHB (+5.0 sen) and IJM (+3.0 sen) ahead of the Budget 2024, while the Healthcare sector fell 0.74% due to the selling pressure in glove counters led by TOPGLOV (-3.0 sen) and HARTA (-4.0 sen).
Top 3 Active stocks:
SAPNRG (5218): RM0.050 (unch)
KNM (7164): RM0.170 (-0.5 sen)
TOPGLOV (7113): RM0.755 (-3.0 sen)
Volume: 2.86 bn (100-day avg vol: 3.18 bn)
Value: RM2.09 bn (100-day avg val: RM2.04 bn)
Market Breadth: ⬆️449 ⬇️407
Crude palm oil: RM3,608 (+RM1)
Dow Futures: 33,316 pts (+12 pts)
**Source: Bloomberg, M+ Online**
M+ Online Morning Market Buzz - 9Oct23
Dow Jones: 33,407.58 pts (+288.01pts, +0.87%)
⬆️ Resistance: 34300
⬇️ Support: 32200
FBM KLCI: 1,416.88 pts (+1.28pts, +0.09%)
⬆️ Resistance: 1460
⬇️ Support: 1390
HSI Index: 17,485.98 pts (+272.11pts, +1.58%)
⬆️ Resistance: 18000
⬇️ Support: 16800
Crude Palm Oil: RM3,600 (-RM7, -0.19%)
⬆️ Resistance: 3850
⬇️ Support: 3500
Brent Oil: $84.58 (+$3.23, +3.82%)
⬆️ Resistance: 95.20
⬇️ Support: 81.80
Gold: $1,833.01 (+$12.71, +0.70%)
⬆️ Resistance: 1890
⬇️ Support: 1780
**Source: Bloomberg, M+ Online**
Dow Jones: 33,407.58 pts (+288.01pts, +0.87%)
⬆️ Resistance: 34300
⬇️ Support: 32200
FBM KLCI: 1,416.88 pts (+1.28pts, +0.09%)
⬆️ Resistance: 1460
⬇️ Support: 1390
HSI Index: 17,485.98 pts (+272.11pts, +1.58%)
⬆️ Resistance: 18000
⬇️ Support: 16800
Crude Palm Oil: RM3,600 (-RM7, -0.19%)
⬆️ Resistance: 3850
⬇️ Support: 3500
Brent Oil: $84.58 (+$3.23, +3.82%)
⬆️ Resistance: 95.20
⬇️ Support: 81.80
Gold: $1,833.01 (+$12.71, +0.70%)
⬆️ Resistance: 1890
⬇️ Support: 1780
**Source: Bloomberg, M+ Online**
Market update – 9Oct23
The FBM KLCI is still consolidating along the 1,400-1,415 zone without significant buying support last week, while Wall Street has ended higher following the US jobs data. Despite the positive closing last week, we believe the overall situation could flip to the negative side given the rising geopolitical tension in the middle east as Israeli-Palestinian conflict may provide downside risk to global stock markets. Nevertheless, we believe traders should focus on the domestic catalysts on the local front as we are approaching the Budget 2024 this Friday. Commodities wise, the Brent crude oil spiked up more than 3% above USD87/bbl level amid rising geopolitical risk, while the CPO prices are trading along RM3,600/MT level.
Sector focus: With the rising geopolitical tension, we believe traders may look for defensive sectors such as telco, utilities and REIT. Meanwhile, we believe the energy stocks may rebound after the recent sell down on the back of rising Brent oil prices. Also, traders may look at the upcoming Budget 2024 to position into the construction, property and building materials sectors.
Stocks to watch:
Construction & Building material: HIAPTEK, IJM, MRCB
Technology: ATECH
Property: ECOWLD
Telco: TIMECOM
Renewables: SLVEST
Consumer: PWF
Insurance: MNRB, TUNEPRO
Source: M+ Online
The FBM KLCI is still consolidating along the 1,400-1,415 zone without significant buying support last week, while Wall Street has ended higher following the US jobs data. Despite the positive closing last week, we believe the overall situation could flip to the negative side given the rising geopolitical tension in the middle east as Israeli-Palestinian conflict may provide downside risk to global stock markets. Nevertheless, we believe traders should focus on the domestic catalysts on the local front as we are approaching the Budget 2024 this Friday. Commodities wise, the Brent crude oil spiked up more than 3% above USD87/bbl level amid rising geopolitical risk, while the CPO prices are trading along RM3,600/MT level.
Sector focus: With the rising geopolitical tension, we believe traders may look for defensive sectors such as telco, utilities and REIT. Meanwhile, we believe the energy stocks may rebound after the recent sell down on the back of rising Brent oil prices. Also, traders may look at the upcoming Budget 2024 to position into the construction, property and building materials sectors.
Stocks to watch:
Construction & Building material: HIAPTEK, IJM, MRCB
Technology: ATECH
Property: ECOWLD
Telco: TIMECOM
Renewables: SLVEST
Consumer: PWF
Insurance: MNRB, TUNEPRO
Source: M+ Online
M+ Online Technical Trading Stocks - 9Oct23
Stock Name: ATECH (5302)
Entry: Buy above RM2.600
Target: RM2.750 (5.8%), RM2.800 (7.7%)
Stop: RM2.530 (-2.7%)
Shariah: Yes
Technical: Monitor for breakout
Stock Name: TIMECOM (5031)
Entry: Buy above RM5.500
Target: RM5.700 (3.6%), RM5.800 (5.5%)
Stop: RM5.400 (-1.8%)
Shariah: Yes
Technical: Flag-formation breakout
Source: Bloomberg, M+ Online
Stock Name: ATECH (5302)
Entry: Buy above RM2.600
Target: RM2.750 (5.8%), RM2.800 (7.7%)
Stop: RM2.530 (-2.7%)
Shariah: Yes
Technical: Monitor for breakout
Stock Name: TIMECOM (5031)
Entry: Buy above RM5.500
Target: RM5.700 (3.6%), RM5.800 (5.5%)
Stop: RM5.400 (-1.8%)
Shariah: Yes
Technical: Flag-formation breakout
Source: Bloomberg, M+ Online
M+ Online Market Wrap - 9Oct23
FBM KLCI: 1,417.26 pts (+0.38pts, +0.03%)
Following the rising geopolitical tension in the Middle East, the FBM KLCI (+0.03%) closed flat, but sustaining above the 1,450 zone; buying support were noticed within the PCHEM (+7.0 sen), KLK (+44.0 sen), and MAYBANK (+3.0 sen). We noticed Brent oil and gold prices traded significantly higher, and attracted traders to position within the O&G and gold retailing companies. Market breadth was negative with losers outpaced gainers by 500-to-343 stocks. The Energy sector rose 2.09%, thanks to buying interest within DIALOG (+5.0 sen), VELESTO (+1.5 sen), HIBISCS (+5.0 sen).
Top 3 Active stocks:
KNM (7164): RM0.145 (-2.5 sen)
KANGER (0170): RM0.11 (unch)
SCIB (9237): RM0.485 (-1.5 sen)
Volume: 2.88 bn (100-day avg vol: 3.18 bn)
Value: RM1.78 bn (100-day avg val: RM2.05 bn)
Market Breadth: ⬆343 ⬇500
Crude palm oil: RM3,606 (+RM6)
Dow Futures: 33,462 pts (-138 pts)
Source: Bloomberg, M+ Online
FBM KLCI: 1,417.26 pts (+0.38pts, +0.03%)
Following the rising geopolitical tension in the Middle East, the FBM KLCI (+0.03%) closed flat, but sustaining above the 1,450 zone; buying support were noticed within the PCHEM (+7.0 sen), KLK (+44.0 sen), and MAYBANK (+3.0 sen). We noticed Brent oil and gold prices traded significantly higher, and attracted traders to position within the O&G and gold retailing companies. Market breadth was negative with losers outpaced gainers by 500-to-343 stocks. The Energy sector rose 2.09%, thanks to buying interest within DIALOG (+5.0 sen), VELESTO (+1.5 sen), HIBISCS (+5.0 sen).
Top 3 Active stocks:
KNM (7164): RM0.145 (-2.5 sen)
KANGER (0170): RM0.11 (unch)
SCIB (9237): RM0.485 (-1.5 sen)
Volume: 2.88 bn (100-day avg vol: 3.18 bn)
Value: RM1.78 bn (100-day avg val: RM2.05 bn)
Market Breadth: ⬆343 ⬇500
Crude palm oil: RM3,606 (+RM6)
Dow Futures: 33,462 pts (-138 pts)
Source: Bloomberg, M+ Online
𝗦𝘁𝗮𝘆 𝗔𝗵𝗲𝗮𝗱 𝗼𝗳 𝘁𝗵𝗲 𝗠𝗮𝗿𝗸𝗲𝘁: 𝗪𝗲𝗲𝗸𝗹𝘆 𝗨𝗦 𝐌𝐚𝐫𝐤𝐞𝐭 𝗨𝗽𝗱𝗮𝘁𝗲𝘀 🚀
What to expect this week?
✅ The US earnings season has kicked off with reports from major banks and financial institutions, including JPMorgan Chase, Wells Fargo, Citigroup, BlackRock, and PNC Financial Services.
✅ The US will release highly anticipated consumer and producer price index data for September, and investors continue to assess the Fed's 'higher for longer' interest rates approach.
✅ Oil prices have risen following a Hamas attack on Israel. Escalating geopolitical tensions could potentially impact the short-term movement of oil prices.
Read more here: https://mplusgbl.com.my/lvXP
For further details, please reach out to your Dealer Representative.
#mplusglobal #malaccasecurities #stockmarket #marketupdates #investment #usstocks #hkstocks #EarningsCalendar #earningsresults #USbanks #JPM #Citi #Fed #CPI #Inflation
What to expect this week?
✅ The US earnings season has kicked off with reports from major banks and financial institutions, including JPMorgan Chase, Wells Fargo, Citigroup, BlackRock, and PNC Financial Services.
✅ The US will release highly anticipated consumer and producer price index data for September, and investors continue to assess the Fed's 'higher for longer' interest rates approach.
✅ Oil prices have risen following a Hamas attack on Israel. Escalating geopolitical tensions could potentially impact the short-term movement of oil prices.
Read more here: https://mplusgbl.com.my/lvXP
For further details, please reach out to your Dealer Representative.
#mplusglobal #malaccasecurities #stockmarket #marketupdates #investment #usstocks #hkstocks #EarningsCalendar #earningsresults #USbanks #JPM #Citi #Fed #CPI #Inflation
M+ Online Morning Market Buzz - 10Oct23
Dow Jones: 33,604.65 pts (+197.07pts, +0.59%)
⬆️ Resistance: 34400
⬇️ Support: 32200
FBM KLCI: 1,417.26 pts (+0.38pts, +0.03%)
⬆️ Resistance: 1460
⬇️ Support: 1390
HSI Index: 17,517.40 pts (+31.42pts, +0.18%)
⬆️ Resistance: 18000
⬇️ Support: 16800
Crude Palm Oil: RM3,591 (-RM14, -0.39%)
⬆️ Resistance: 3840
⬇️ Support: 3500
Brent Oil: $88.15 (+$3.57, +4.22%)
⬆️ Resistance: 93.40
⬇️ Support: 81.80
Gold: $1,861.41 (+$28.40, +1.55%)
⬆️ Resistance: 1910
⬇️ Support: 1780
**Source: Bloomberg, M+ Online**
Dow Jones: 33,604.65 pts (+197.07pts, +0.59%)
⬆️ Resistance: 34400
⬇️ Support: 32200
FBM KLCI: 1,417.26 pts (+0.38pts, +0.03%)
⬆️ Resistance: 1460
⬇️ Support: 1390
HSI Index: 17,517.40 pts (+31.42pts, +0.18%)
⬆️ Resistance: 18000
⬇️ Support: 16800
Crude Palm Oil: RM3,591 (-RM14, -0.39%)
⬆️ Resistance: 3840
⬇️ Support: 3500
Brent Oil: $88.15 (+$3.57, +4.22%)
⬆️ Resistance: 93.40
⬇️ Support: 81.80
Gold: $1,861.41 (+$28.40, +1.55%)
⬆️ Resistance: 1910
⬇️ Support: 1780
**Source: Bloomberg, M+ Online**
*Market update – 10Oct23*
Despite the rising concerns over the Middle East conflict, the FBM KLCI ended on a flattish tone, while the traders in the US stock markets were scooping up shares related to the oil and defence industries. Also, we believe the market could be focusing on the economy and earnings season that will be starting this week with the banking heavyweights. Given the strong rebound on Wall Street, the buying interest may emerge on the local front, focusing on the NETR and NIMP as well as the upcoming Budget 2024 this Friday. Commodities wise, the Brent crude oil spiked up more than 4% above USD88/bbl level amid rising geopolitical concerns, while the CPO prices are trading below RM3,600/MT level.
Sector focus: With the spike in the Brent oil and gold prices following the Israeli-Palestinian conflict, we think traders may focus on the O&G and gold-related sector and buying support should persist for the near term. Besides, traders may position into the construction, property and building materials sectors ahead of the Budget 2024.
Stocks to watch:
Construction: EPICON
Consumer: LHI, TEOSENG
Finance: MBSB, MNRB
O&G: SEALINK
Technology: ATECH
Property: UEMS
Building material MCEMENT, ULICORP
_Source: M+ Online_
Despite the rising concerns over the Middle East conflict, the FBM KLCI ended on a flattish tone, while the traders in the US stock markets were scooping up shares related to the oil and defence industries. Also, we believe the market could be focusing on the economy and earnings season that will be starting this week with the banking heavyweights. Given the strong rebound on Wall Street, the buying interest may emerge on the local front, focusing on the NETR and NIMP as well as the upcoming Budget 2024 this Friday. Commodities wise, the Brent crude oil spiked up more than 4% above USD88/bbl level amid rising geopolitical concerns, while the CPO prices are trading below RM3,600/MT level.
Sector focus: With the spike in the Brent oil and gold prices following the Israeli-Palestinian conflict, we think traders may focus on the O&G and gold-related sector and buying support should persist for the near term. Besides, traders may position into the construction, property and building materials sectors ahead of the Budget 2024.
Stocks to watch:
Construction: EPICON
Consumer: LHI, TEOSENG
Finance: MBSB, MNRB
O&G: SEALINK
Technology: ATECH
Property: UEMS
Building material MCEMENT, ULICORP
_Source: M+ Online_
M+ Online Technical Trading Stocks - 10Oct23
Stock Name: SEALINK (5145)
Entry: Buy above RM0.235
Target: RM0.260 (10.6%), RM0.280 (19.1%)
Stop: RM0.220 (-6.4%)
Shariah: Yes
Technical: Flag-formation breakout
Stock Name: TEOSENG (7252)
Entry: Buy above RM1.230
Target: RM1.280 (4.1%), RM1.320 (7.3%)
Stop: RM1.200 (-2.4%)
Shariah: No
Technical: Monitor for breakout
Source: Bloomberg, M+ Online
Stock Name: SEALINK (5145)
Entry: Buy above RM0.235
Target: RM0.260 (10.6%), RM0.280 (19.1%)
Stop: RM0.220 (-6.4%)
Shariah: Yes
Technical: Flag-formation breakout
Stock Name: TEOSENG (7252)
Entry: Buy above RM1.230
Target: RM1.280 (4.1%), RM1.320 (7.3%)
Stop: RM1.200 (-2.4%)
Shariah: No
Technical: Monitor for breakout
Source: Bloomberg, M+ Online
M+ Online Market Wrap - 10Oct23
FBM KLCI: 1,435.17 pts (+17.91pts, +1.26%)
The FBM KLCI (+1.26%) rallied in-line with the positive regional markets, supported by the strong performances of the selected banking heavyweights as investors traded more positively ahead of the Budget 2024. Market breadth was positive with gainers outpacing losers by 585-to-332 stocks. The Financial sector rose 1.40% with the buying interest within PBBANK (+10.0 sen), CIMB (+13.0 sen), MAYBANK (+9.0 sen), while the Healthcare Sector (-0.51%) fell due to selling pressure in glove counters namely HARTA (-5.0 sen) & TOPGLOV (-2.0 sen).
Top 3 Active stocks:
KNM (7164): RM0.120 (-2.5 sen)
CLASSITA (7154): RM0.080 (+1.5 sen)
UEMS (5148): RM0.870 (+6.5 sen)
Volume: 3.39 bn (100-day avg vol: 3.19 bn)
Value: RM2.02 bn (100-day avg val: RM2.05 bn)
Market Breadth: ⬆️585 ⬇️332
Crude palm oil: RM3,567 (-RM38)
Dow Futures: 33,853 pts (+52 pts)
**Source: Bloomberg, M+ Online**
FBM KLCI: 1,435.17 pts (+17.91pts, +1.26%)
The FBM KLCI (+1.26%) rallied in-line with the positive regional markets, supported by the strong performances of the selected banking heavyweights as investors traded more positively ahead of the Budget 2024. Market breadth was positive with gainers outpacing losers by 585-to-332 stocks. The Financial sector rose 1.40% with the buying interest within PBBANK (+10.0 sen), CIMB (+13.0 sen), MAYBANK (+9.0 sen), while the Healthcare Sector (-0.51%) fell due to selling pressure in glove counters namely HARTA (-5.0 sen) & TOPGLOV (-2.0 sen).
Top 3 Active stocks:
KNM (7164): RM0.120 (-2.5 sen)
CLASSITA (7154): RM0.080 (+1.5 sen)
UEMS (5148): RM0.870 (+6.5 sen)
Volume: 3.39 bn (100-day avg vol: 3.19 bn)
Value: RM2.02 bn (100-day avg val: RM2.05 bn)
Market Breadth: ⬆️585 ⬇️332
Crude palm oil: RM3,567 (-RM38)
Dow Futures: 33,853 pts (+52 pts)
**Source: Bloomberg, M+ Online**