*STOCK ON RADAR*
12 August 2024
AmBank Retail Research

*MN HOLDINGS* (0245)
Shariah Compliant: Yes
Entry        : RM1.00–1.07
Target             : RM1.20, RM1.30
Exit         : RM0.93

_Disclaimer: This message is for information purposes only and is not intended to be distributed to any third party. It does not construe as an offer/a solicitation/a recommendation to buy/sell any stocks. Please consult your own independent adviser(s) before investing in any stocks and no responsibility or liability can be accepted for any loss or damage that may arise from the reliance of this message. The information herein constitutes our findings as of this date and is subject to change without notice._

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*AmBreakfast Note*
12 August 2024
AmBank Retail Research

*Market Overview*

*FBM KLCI* up 5.7pts or 0.4% to close at 1,596.05. We maintained the resistance level at *1,640* and the support level at *1,500*. Trading volume decreased to 4.2bn (4.3bn previously), while trading value was at RM2.9bn (RM3.1bn previously). Market breadth turned positive (1103 Vs 218). Gainers were seen in technology (+3.4%), construction (+2.6%), and property (+2.3%); while no losers were seen.

*Asian Equities* ended positive. Hang Seng index gained 1.2% buoyed by upbeat Chinese inflation and US jobs data. Japan Nikkei 225 rose 0.6%. *European STOXX 600* up 0.6%. *US stocks* ended higher on Friday after regaining almost all of its losses since Monday's steep dive that was prompted by fears of a recession and unwinding of a global yen-funded carry trade. Dow added 0.1%, while Nasdaq gained 0.5%. The technology sector gave the index its biggest boost on Friday.

*Future market* indicate a *Positive* opening for Asian equities today.

*AmBank Equity Research report:*

*BINTULU PORT* (BUY Maintained; FV: RM7.20) Lower LNG handling volumes on QoQ basis

*Stock on Radar*: MN HOLDINGS

*Malaysia*
KLCI: 1,596.05 (+5.7, +0.4%)
FBM Small Cap: 18,381.26 (+2.4%)
Gainers: 1103 | Unch: 357 | Losers:218

*Global Markets*
Dow: 39,497.55 (+51.1, +0.1%)
NASDAQ: 16,745.30 (+0.5%)
Europe STOXX 600: 499.20 (+0.6%)
Hang Seng: 17,090.23 (+1.2%)
Nikkei: 35,024.93 (+0.6%)
Straits Times: 3,261.83 (+0.0%)
Oil (Brent): 77.00 (+1.3%)
CPO: 3,747.00 (+1.2%)
USD/MYR: 4.4150 (-1.2%)

_Disclaimer: This message is for information purposes only and is not intended to be distributed to any third party. It does not construe as an offer/a solicitation/a recommendation to buy/sell any stocks. Please consult your own independent adviser(s) before investing in any stocks and no responsibility or liability can be accepted for any loss or damage that may arise from the reliance of this message._

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