M+ Morning Market Buzz - 4 Feb 25

Dow Jones: 44,421.91 pts (-122.75pts, -0.28%)
⬆️ Resistance:  46000
⬇️ Support:  43100

FBM KLCI: 1,553.63 pts (-3.29pts, -0.21%)
⬆️ Resistance:  1600
⬇️ Support:  1520

HSI Index: 20,217.26 pts (-7.85pts, -0.04%)
⬆️ Resistance:  20800
⬇️ Support:  19400

Crude Palm Oil: RM4,367 (+RM2, +0.05%)
⬆️ Resistance:  4510
⬇️ Support:  4110

Brent Oil: $75.96 (+$0.29, +0.38%)
⬆️ Resistance:  79.80
⬇️ Support:  73.60

Gold: $2,815.21 (-$1.13, -0.04%)
⬆️ Resistance:  2890
⬇️ Support:  2690

M+ Market Update – 04 Feb 25
Slight Relief After Trump Pausing Tariffs
 
The FBMKLCI edged lower as heavyweights like PCHEM and YTLPOWR dragged the key index amid renewed selling pressure. In the US, while all three indices showed narrowed losses following President Trump’s statement on pausing the tariffs on Mexico and Canada, the key index still ended the day in the red. Meanwhile, the US ISM Manufacturing PMI came in better-than-expected, and traders continue to monitor the (i) ISM Non-Manufacturing PMI, (ii) initial jobless claims, and (iii) China’s Caixin services PMI this week. In the commodities market, Brent Crude is still trading around USD76 per barrel, while gold prices remain elevated near its all-time high of USD2,817 level. CPO prices experienced a breakout above the RM4,300 mark.

Sector Focus: With President Trump imposing an additional 10% tariffs (on top of the 50% currently imposed) on China’s rubber medical and surgical glove exports into the US, we believe it should bode well for sentiment on local glove counters. Meanwhile, given the recent pullback in the construction sector, we believe the significant discount in share prices might present bargain hunting opportunities for the construction counters, supported by JSSEZ initiatives and the ongoing data centre developments in the country.

Stocks to watch: 

Utility: GASMSIA, *KJTS*, *PEKAT*
Healthcare: KOSSAN, *SUPERMX*
Consumer: *FOCUSP*, GCB
Gold: AUMAS
Plantation: *JTIASA*

Source: M+

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