Key Indices
Top Stories
Sector Update | Oil & Gas
- Expectations of rising oil price movements benefit direct oil plays including Hibiscus Petroleum and Dialog Group. However, the overarching sector theme in our view, ie the legal impasse between Petronas and Petros, will be heard only in Jan 27. Nevertheless, there are several bright developments covering jackup rig players and the FPSO subsegment (MISC, Bumi Armada and Yinson Holdings). Upstream M&A valuations metrics are gaining traction again, with Hibiscus Petroleum and Dialog Group as key beneficiaries. Retain sector MARKET WEIGHT.
Market Spotlight
- The FBMKLCI increased 0.88pt (+0.05%) to close at 1,631.75 yesterday.
- US stocks were higher after the close on Monday, as gains in the basic materials, consumer goods and oil & gas sectors led shares higher.
Tehnical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
Cheeding Holdings | CHEEDING MK
- Trading Buy Range: RM0.67-0.675
Cosmos Technology International | COSMOS MK
- Trading Buy Range: RM0.415-0.42
Greatech Technology | GREATEC MK
- Trading Buy Range: RM2.60-2.65
Top Stories
Sector Update | Oil & Gas
- Expectations of rising oil price movements benefit direct oil plays including Hibiscus Petroleum and Dialog Group. However, the overarching sector theme in our view, ie the legal impasse between Petronas and Petros, will be heard only in Jan 27. Nevertheless, there are several bright developments covering jackup rig players and the FPSO subsegment (MISC, Bumi Armada and Yinson Holdings). Upstream M&A valuations metrics are gaining traction again, with Hibiscus Petroleum and Dialog Group as key beneficiaries. Retain sector MARKET WEIGHT.
Market Spotlight
- The FBMKLCI increased 0.88pt (+0.05%) to close at 1,631.75 yesterday.
- US stocks were higher after the close on Monday, as gains in the basic materials, consumer goods and oil & gas sectors led shares higher.
Tehnical Analysis
FBMKLCI, FCPO & FKLI Index Outlook
Traders’ Corner
Cheeding Holdings | CHEEDING MK
- Trading Buy Range: RM0.67-0.675
Cosmos Technology International | COSMOS MK
- Trading Buy Range: RM0.415-0.42
Greatech Technology | GREATEC MK
- Trading Buy Range: RM2.60-2.65
Key Indices
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This report is provided subject to, and must be read together with, the full Disclosures / Disclaimers available at this link, which are incorporated by reference into this report. In particular, this report is intended for general circulation and informational purposes only and does not constitute personal investment advice or a recommendation to buy or sell any investment product or security. You should independently evaluate the information and, where necessary, seek advice from a qualified financial adviser regarding the suitability of any investment. Analyst certifications required under applicable regulations, including SEC Regulation AC (where relevant), are included in this report. By accessing, receiving or using this report, you acknowledge that you have read, understood and agreed to be bound by the Disclosures / Disclaimers, as may be amended, supplemented or updated from time to time.
