Trader’s Look at Market – “Oriental Kopi soared about 2x on IPO debut!” (24 Jan 2025)

Bryant Moomoo MY wrote a column · Jan 24 10:37

Trader’s Look at Market – “Oriental Kopi soared about 2x on IPO debut!” (24 Jan 2025)

Global Market
$Dow Jones Industrial Average (.DJI.US)$ + 0.92%
$Nasdaq Composite Index (.IXIC.US)$ + 0.22%
$S&P 500 Index (.SPX.US)$ + 0.53%

AI enthusiasm and megacaps like $NVIDIA (NVDA.US)$ and $Alphabet-C (GOOG.US)$ continue to drive gains. Analysts remain cautiously optimistic about the continued rally, driven by tech and strong fundamentals, despite concerns about high valuations and narrow market participation. Key data, such as

US jobless claims, remains a crucial part of the outlook, as people rely on it for shaping their upcoming views.

Local Market

Bursa Malaysia ended lower, snapping a four-day rally due to broad-based profit-taking and weaker regional market sentiment. The $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ fell 10.60 points (0.66%) to 1,577.20, with a trading range of 1,575.67 to 1,586.52. Profit-taking is expected to stabilize the market, with short-term caution but long-term optimism as investors monitor key developments like US jobless claims and regional economic conditions.

$KOPI (0338.MY)$ soared 99% on its ACE Market debut, closing at 87.5 sen (IPO price: 44 sen).

Local currency decline a little bit to settle at 4.4443 while Malaysia govvy 10 years yield maintained and closed at 3.828% and Palm Oil Futures closed at 4,190.

Sectoral performance (%)