Affin Hwang IB Daily Boost

Affin Hwang Investment Bank Daily Insight
📆 Tuesday, 14 January 2025

Top Call
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Other Calls
1) Retail Research - Chart Trek
• Dialog Group Bhd (Technical BUY)
• Velesto Energy Bhd (Technical BUY)

2) Morning News and Market Summary
• Solarvest buys 3 pieces of land in Kedah for RM20m
• Gamuda – SRS Consortium awarded RM8.3bn Penang LRT Mutiara Line (Segment 1)

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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports

Overnight Global Futures Lead
📆 14 Jan 2025
Commentary
(1) FKLI
Due to strong selling in technology and utilities ,FKLI concluded Monday's trading session lower. This was a result of a sell-off that occurred on Wall Street last Friday. Due to external factors, investors are cautious of the market. Consider that a hasty response to US President Joe Biden's strict new rules on exporting advanced artificial intelligence chips will put additional pressure on technology and other companies.

(2) U.S. Stock Index Futures
As bond yields rose following strong payroll data last week, raising expectations that the Federal Reserve will continue to adopt a hawkish approach for the most of this year, US stocks fell Monday, with the benchmark S&P 500 hitting a two-month low.

(3) FCPO
FCPO continued its upward trend from last Friday, closing higher. The prospect of constrained supply due to bad weather and recent MPOB data for December, along with significantly higher linked vegetable oil futures on the Dalian, supported the gains.

(4) COMEX Gold
Monday saw a decline in gold prices as the U.S. dollar surged to a two-year high following a strong employment report last week that confirmed the Fed will be cautious in lowering interest rates this year.

(5) Crude Oil
As broader US sanctions are anticipated to impact Russian crude deliveries to major importers China and India, oil prices continued to rise Monday for a third session. Brent rose beyond US$80 a barrel to its highest level in over four months.

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Affin Hwang Investment Bank Daily Insight
📆 Monday, 13 January 2025

Top Call
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Other Calls
1) Malaysia Economy – IPI
• IPI growth rose to 3.6% yoy in November

2) Malaysia Economy - Labour Force
• Unemployment rate stays at 3.2% in November

3) Week in Focus
• Downward Bias Continues

4) Morning News and Market Summary

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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports

Overnight Global Futures Lead
📆 13 Jan 2025
Commentary
(1) FKLI
After recent losses, bargain-hunting activity kept FKLI in a recovery territory, defying the regional stock markets' downward trend. Given that the market trading at 15 times the price-earnings ratio—much lower than its historical average of 18 times—the recent sell-off presents an attractive opportunity for investors.

(2) U.S. Stock Index Futures
After an optimistic jobs data fueled new inflation concerns and strengthened wagers that the Federal Reserve will be cautious in lowering interest rates this year, US equities dropped down on Friday, with the S&P 500 wiping out its 2025 gains.

(3) FCPO
A optimistic report from MPOB helped FCPO close higher on Friday. In the short run, the low stock levels are advantageous for pricing. Considering the outlook is bolstered by recent strength in the soybean oil market and favorable fundamentals in the palm oil sector, expect the market to trade this week with a bullish bias.

(4) COMEX Gold
Even though a better-than-expected U.S. employment report confirmed predictions that the Federal Reserve might not lower interest rates as rapidly this year, gold prices recovered on Friday as uncertainty around the plans of the incoming Trump administration diminished the attraction of gold as a safe haven.

(5) Crude Oil
As traders prepared for supply interruptions from the most comprehensive set of US sanctions targeting Russian oil and gas income, oil prices surged over 3% to their highest level in three months on Friday.

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