M+ Morning Market Buzz - 28Aug25
Dow Jones: 45,565.23 pts (+147.16pts, +0.32%)
⬆️ Resistance: 46700
⬇️ Support: 43700
FBM KLCI: 1,587.91 pts (+6.32pts, +0.40%)
⬆️ Resistance: 1650
⬇️ Support: 1550
HSI Index: 25,201.76 pts (-323.16pts, -1.27%)
⬆️ Resistance: 26500
⬇️ Support: 24600
Crude Palm Oil: RM4,488 (-RM5, -0.11%)
⬆️ Resistance: 4660
⬇️ Support: 4360
Brent Oil: $68.05 (+$0.83, +1.23%)
⬆️ Resistance: 70.50
⬇️ Support: 65.50
Gold: $3,397.37 (-$1.10, -0.03%)
⬆️ Resistance: 3470
⬇️ Support: 3260
Source: Bloomberg, M+ Global
Dow Jones: 45,565.23 pts (+147.16pts, +0.32%)
⬆️ Resistance: 46700
⬇️ Support: 43700
FBM KLCI: 1,587.91 pts (+6.32pts, +0.40%)
⬆️ Resistance: 1650
⬇️ Support: 1550
HSI Index: 25,201.76 pts (-323.16pts, -1.27%)
⬆️ Resistance: 26500
⬇️ Support: 24600
Crude Palm Oil: RM4,488 (-RM5, -0.11%)
⬆️ Resistance: 4660
⬇️ Support: 4360
Brent Oil: $68.05 (+$0.83, +1.23%)
⬆️ Resistance: 70.50
⬇️ Support: 65.50
Gold: $3,397.37 (-$1.10, -0.03%)
⬆️ Resistance: 3470
⬇️ Support: 3260
Source: Bloomberg, M+ Global
M+ Global Market Update – 28Aug25
Technology Stocks May Be Favoured
US: Wall Street extended its gains, with the S&P 500 closing at a record high. Post-market, Nvidia announced results that topped estimates and issued upbeat guidance but flagged uncertainty over China sales amid US chip restrictions, stating it “has not assumed any H2 shipments to China” in its outlook. At the time of writing, Wall Street futures are in the red, while Nvidia's stock dropped 3% in post-market trading. Meanwhile, the Fed's independence came into focus after President Donald Trump moved to oust Governor Lisa Cook over alleged mortgage fraud, creating concerns about political interference as calls for immediate rate cuts persist. All three commodities including Brent oil, gold and CPO also edged higher toward USD68/bbl, USD3,397/oz and RM4,488/MT respectively.
MY: We expect the local bourse to track the Wall Street movements, but the upside might be limited as Nvidia’s results caused the stock to fall 3% in after-market trading. However, we still favour technology names like FRONTKN and INARI, given their roles as proxies for Apple, TSMC, and Broadcom. In the Utilities sector, YTLPOWR and MNHLDG remain our top picks, supported by the former’s position as the country’s AI leader and the latter’s strong quarterly results alongside a breakout continuation pattern. Lastly, traders can look for trading opportunities in solar-related counters such as SLVEST, PEKAT, and NORTHERN.
Stocks to watch:
Construction: *HEGROUP*, *JTGROUP*, SUNCON
Technology: *FRONTKN*, NE, SNS
Utility: GASMSIA, *MALAKOF*
Automotive: *BETAMEK*
Finance: OSK
Gloves: KOSSAN
Source: M+ Global
Technology Stocks May Be Favoured
US: Wall Street extended its gains, with the S&P 500 closing at a record high. Post-market, Nvidia announced results that topped estimates and issued upbeat guidance but flagged uncertainty over China sales amid US chip restrictions, stating it “has not assumed any H2 shipments to China” in its outlook. At the time of writing, Wall Street futures are in the red, while Nvidia's stock dropped 3% in post-market trading. Meanwhile, the Fed's independence came into focus after President Donald Trump moved to oust Governor Lisa Cook over alleged mortgage fraud, creating concerns about political interference as calls for immediate rate cuts persist. All three commodities including Brent oil, gold and CPO also edged higher toward USD68/bbl, USD3,397/oz and RM4,488/MT respectively.
MY: We expect the local bourse to track the Wall Street movements, but the upside might be limited as Nvidia’s results caused the stock to fall 3% in after-market trading. However, we still favour technology names like FRONTKN and INARI, given their roles as proxies for Apple, TSMC, and Broadcom. In the Utilities sector, YTLPOWR and MNHLDG remain our top picks, supported by the former’s position as the country’s AI leader and the latter’s strong quarterly results alongside a breakout continuation pattern. Lastly, traders can look for trading opportunities in solar-related counters such as SLVEST, PEKAT, and NORTHERN.
Stocks to watch:
Construction: *HEGROUP*, *JTGROUP*, SUNCON
Technology: *FRONTKN*, NE, SNS
Utility: GASMSIA, *MALAKOF*
Automotive: *BETAMEK*
Finance: OSK
Gloves: KOSSAN
Source: M+ Global
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Good Morning All,
We issued a 4Q25 results note on our coverage stock AWC Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We maintain our BUY recommendation on AWC with an unchanged target price of RM0.805. The target price is derived based on a P/E ratio of 10.0x pegged to mid-FY27f EPS of 8.05 sen.
Research Team, M+
28 August 2025
We issued a 4Q25 results note on our coverage stock AWC Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We maintain our BUY recommendation on AWC with an unchanged target price of RM0.805. The target price is derived based on a P/E ratio of 10.0x pegged to mid-FY27f EPS of 8.05 sen.
Research Team, M+
28 August 2025
Good Morning All,
We issued a 2Q25 results note on our coverage stock KJTS Group Berhad: Your Trusted Guide To Global Trading | Malacca Securities (mplusonline.com)
As the earnings came in above expectations, we revise our earnings forecast higher by 20.3%, 5.0%, and 11.2% to RM18.2m, RM30.6m, and RM33.4m over FY25-27f, pricing in better cost management, to reflect KJTS’s ability to secure higher margin while securing new contracts.
Hence, we maintained BUY recommendation with a higher target price of RM2.00, based on a P/E multiple of 45x pegged to FY26F EPS of 4.44 sen.
Research Team, M+
28 August 2025
We issued a 2Q25 results note on our coverage stock KJTS Group Berhad: Your Trusted Guide To Global Trading | Malacca Securities (mplusonline.com)
As the earnings came in above expectations, we revise our earnings forecast higher by 20.3%, 5.0%, and 11.2% to RM18.2m, RM30.6m, and RM33.4m over FY25-27f, pricing in better cost management, to reflect KJTS’s ability to secure higher margin while securing new contracts.
Hence, we maintained BUY recommendation with a higher target price of RM2.00, based on a P/E multiple of 45x pegged to FY26F EPS of 4.44 sen.
Research Team, M+
28 August 2025
😁3
M+ Global Market Wrap - 28Aug25
FBM KLCI: 1,587.91 pts (-0.84pts, -0.05%)
Despite Asian markets ended broadly positive, the FBMKLCI (-0.05%) bucked the trend and closed slightly lower at 1,587.07 pts, as losses in PCHEM (-13.0 sen) and YTL (-9.0 sen) dragged the key index. Market breadth ended negative, with 605 losers against 470 winners. In the broader environment, the Property sector (+0.80%) outperformed, buoyed by gains in SIMEPROP (+4.0 sen) and SPSETIA (+4.0 sen), while both the Technology (-1.26%) and Health Care (-1.26%) sectors ended in the negative territory.
Top 3 Active stocks:
SIME (4197): RM1.950 (+5.0 sen)
BORNOIL (7036): RM0.005 (unch)
TANCO (2429): RM0.725 (+0.5 sen)
Volume: 2.92 bn (100-bar avg vol: 2.98 bn)
Value: RM2.92 bn (100-bar avg val: RM2.40 bn)
Market Breadth: ⬆️470⬇️605
Crude palm oil: RM4,438 (-RM50)
Dow Futures: 45,746 pts (+104 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,587.91 pts (-0.84pts, -0.05%)
Despite Asian markets ended broadly positive, the FBMKLCI (-0.05%) bucked the trend and closed slightly lower at 1,587.07 pts, as losses in PCHEM (-13.0 sen) and YTL (-9.0 sen) dragged the key index. Market breadth ended negative, with 605 losers against 470 winners. In the broader environment, the Property sector (+0.80%) outperformed, buoyed by gains in SIMEPROP (+4.0 sen) and SPSETIA (+4.0 sen), while both the Technology (-1.26%) and Health Care (-1.26%) sectors ended in the negative territory.
Top 3 Active stocks:
SIME (4197): RM1.950 (+5.0 sen)
BORNOIL (7036): RM0.005 (unch)
TANCO (2429): RM0.725 (+0.5 sen)
Volume: 2.92 bn (100-bar avg vol: 2.98 bn)
Value: RM2.92 bn (100-bar avg val: RM2.40 bn)
Market Breadth: ⬆️470⬇️605
Crude palm oil: RM4,438 (-RM50)
Dow Futures: 45,746 pts (+104 pts)
**Source: M+ Global, Bloomberg **
Good Evening All,
We issued a technical buy call on Applovin CorporationYour Trusted Guide to Global Trading | Malacca Securities (mplusonline.com) :
Trading catalysts include:
(i) Robust software growth and profitability,
(ii) E-commerce expansion and Ads rollout,
(iii) Large TAM and Tech Edge Position APP Ahead of Peers.
Research Team, M+
28 August 2025
We issued a technical buy call on Applovin CorporationYour Trusted Guide to Global Trading | Malacca Securities (mplusonline.com) :
Trading catalysts include:
(i) Robust software growth and profitability,
(ii) E-commerce expansion and Ads rollout,
(iii) Large TAM and Tech Edge Position APP Ahead of Peers.
Research Team, M+
28 August 2025
M+ Morning Market Buzz - 29Aug25
Dow Jones: 45,636.90 pts (+71.67pts, +0.16%)
⬆️ Resistance: 46700
⬇️ Support: 44100
FBM KLCI: 1,587.07 pts (-0.84pts, -0.05%)
⬆️ Resistance: 1650
⬇️ Support: 1550
HSI Index: 24,998.82 pts (-202.94pts, -0.81%)
⬆️ Resistance: 26500
⬇️ Support: 24400
Crude Palm Oil: RM4,449 (-RM27, -0.61%)
⬆️ Resistance: 4660
⬇️ Support: 4350
Brent Oil: $68.62 (+$0.57, +0.84%)
⬆️ Resistance: 70.50
⬇️ Support: 65.60
Gold: $3,417.08 (-$0.45, -0.01%)
⬆️ Resistance: 3500
⬇️ Support: 3260
Source: Bloomberg, M+ Global
Dow Jones: 45,636.90 pts (+71.67pts, +0.16%)
⬆️ Resistance: 46700
⬇️ Support: 44100
FBM KLCI: 1,587.07 pts (-0.84pts, -0.05%)
⬆️ Resistance: 1650
⬇️ Support: 1550
HSI Index: 24,998.82 pts (-202.94pts, -0.81%)
⬆️ Resistance: 26500
⬇️ Support: 24400
Crude Palm Oil: RM4,449 (-RM27, -0.61%)
⬆️ Resistance: 4660
⬇️ Support: 4350
Brent Oil: $68.62 (+$0.57, +0.84%)
⬆️ Resistance: 70.50
⬇️ Support: 65.60
Gold: $3,417.08 (-$0.45, -0.01%)
⬆️ Resistance: 3500
⬇️ Support: 3260
Source: Bloomberg, M+ Global
M+ Global Market Update – 29Aug25
Record S&P500 Following Stronger Q2 GDP
US: Wall Street closed higher, with the S&P 500 hitting another record, supported by stronger-than-expected US GDP growth and Nvidia’s quarterly results. Although it topped estimates and provided a better outlook, its shares experienced mild profit taking. On the macro front, US GDP expanded 3.3% in Q2, beating the estimate of 3.0%. Despite stronger GDP data, the market is still expecting a September rate cut, which could boost overall stock market sentiment. Attention is now shifting to the Core PCE data due later tonight. Commodities-wise, gold extended its gain toward USD3,417/oz, Brent oil hovered around USD68/bbl, while CPO declined slightly toward RM4,449/MT.
MY: Given the S&P500 hitting record high, we expect the FBMKLCI to trade on a positive note despite the long weekend break, with the key focus likely on the Tech sector. Meanwhile, we continue to favour the Construction and Utilities sectors, underpinned by nationwide infrastructure developments such as the JSSEZ and Penang LRT Line, data centre investments and Tenaga’s grid upgrades. We also favour SDG in the Plantation sector, benefiting from its joint development with GAMUDA to build solar PV assets and from rising CPO prices. Lastly, traders can monitor counters like MCEMENT, KIMLUN and MEGAFB for trading opportunities.
Stocks to watch:
Building Material: *MCEMENT*, UNIQUE
Finance: MAYBANK, *OSK*
Technology: *WENTEL*
Consumer: *99SMART*
Automotive: *BETAMEK*
Construction: *JTGROUP*
REIT: IGBREIT
Utility: MALAKOF
Source: M+ Global
Record S&P500 Following Stronger Q2 GDP
US: Wall Street closed higher, with the S&P 500 hitting another record, supported by stronger-than-expected US GDP growth and Nvidia’s quarterly results. Although it topped estimates and provided a better outlook, its shares experienced mild profit taking. On the macro front, US GDP expanded 3.3% in Q2, beating the estimate of 3.0%. Despite stronger GDP data, the market is still expecting a September rate cut, which could boost overall stock market sentiment. Attention is now shifting to the Core PCE data due later tonight. Commodities-wise, gold extended its gain toward USD3,417/oz, Brent oil hovered around USD68/bbl, while CPO declined slightly toward RM4,449/MT.
MY: Given the S&P500 hitting record high, we expect the FBMKLCI to trade on a positive note despite the long weekend break, with the key focus likely on the Tech sector. Meanwhile, we continue to favour the Construction and Utilities sectors, underpinned by nationwide infrastructure developments such as the JSSEZ and Penang LRT Line, data centre investments and Tenaga’s grid upgrades. We also favour SDG in the Plantation sector, benefiting from its joint development with GAMUDA to build solar PV assets and from rising CPO prices. Lastly, traders can monitor counters like MCEMENT, KIMLUN and MEGAFB for trading opportunities.
Stocks to watch:
Building Material: *MCEMENT*, UNIQUE
Finance: MAYBANK, *OSK*
Technology: *WENTEL*
Consumer: *99SMART*
Automotive: *BETAMEK*
Construction: *JTGROUP*
REIT: IGBREIT
Utility: MALAKOF
Source: M+ Global
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M+ Global Market Wrap - 29Aug25
FBM KLCI: 1,575.12 pts (-11.95pts, -0.75%)
Profit-taking activities emerged across the local bourse ahead of the long weekend, with the FBMKLCI (-0.75%) extending its decline for a second consecutive day, closing lower at 1,575.12 pts. Market breadth remained negative, with 704 losers against 324 winners. Sector-wise, all the sectors ended in negative territory, except the Transportation & Logistics (+0.12%) sector, while the Construction (-1.45%) sector recorded the steepest selldown.
Top 3 Active stocks:
GENETEC (0104): RM0.510 (-12.5 sen)
TANCO (2429): RM0.705 (-2.0 sen)
SIME (4197): RM2.070 (+12.0 sen)
Volume: 3.08 bn (100-bar avg vol: 2.96 bn)
Value: RM3.16 bn (100-bar avg val: RM2.41 bn)
Market Breadth: ⬆️324⬇️704
Crude palm oil: RM4,391 (-RM58)
Dow Futures: 45,539 pts (-167 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,575.12 pts (-11.95pts, -0.75%)
Profit-taking activities emerged across the local bourse ahead of the long weekend, with the FBMKLCI (-0.75%) extending its decline for a second consecutive day, closing lower at 1,575.12 pts. Market breadth remained negative, with 704 losers against 324 winners. Sector-wise, all the sectors ended in negative territory, except the Transportation & Logistics (+0.12%) sector, while the Construction (-1.45%) sector recorded the steepest selldown.
Top 3 Active stocks:
GENETEC (0104): RM0.510 (-12.5 sen)
TANCO (2429): RM0.705 (-2.0 sen)
SIME (4197): RM2.070 (+12.0 sen)
Volume: 3.08 bn (100-bar avg vol: 2.96 bn)
Value: RM3.16 bn (100-bar avg val: RM2.41 bn)
Market Breadth: ⬆️324⬇️704
Crude palm oil: RM4,391 (-RM58)
Dow Futures: 45,539 pts (-167 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 2Sep25
Dow Jones: 45,544.88 pts (-92.02pts, -0.20%)
⬆️ Resistance: 46600
⬇️ Support: 44300
FBM KLCI: 1,575.12 pts (-11.95pts, -0.75%)
⬆️ Resistance: 1640
⬇️ Support: 1550
HSI Index: 25,617.42 pts (+539.80pts, +2.15%)
⬆️ Resistance: 26400
⬇️ Support: 24400
Crude Palm Oil: RM4,380 (-RM69, -1.55%)
⬆️ Resistance: 4610
⬇️ Support: 4290
Brent Oil: $68.15 (+$0.67, +0.99%)
⬆️ Resistance: 70.20
⬇️ Support: 65.60
Gold: $3,476.07 (+$2.03, +0.06%)
⬆️ Resistance: 3560
⬇️ Support: 3290
Source: Bloomberg, M+ Global
Dow Jones: 45,544.88 pts (-92.02pts, -0.20%)
⬆️ Resistance: 46600
⬇️ Support: 44300
FBM KLCI: 1,575.12 pts (-11.95pts, -0.75%)
⬆️ Resistance: 1640
⬇️ Support: 1550
HSI Index: 25,617.42 pts (+539.80pts, +2.15%)
⬆️ Resistance: 26400
⬇️ Support: 24400
Crude Palm Oil: RM4,380 (-RM69, -1.55%)
⬆️ Resistance: 4610
⬇️ Support: 4290
Brent Oil: $68.15 (+$0.67, +0.99%)
⬆️ Resistance: 70.20
⬇️ Support: 65.60
Gold: $3,476.07 (+$2.03, +0.06%)
⬆️ Resistance: 3560
⬇️ Support: 3290
Source: Bloomberg, M+ Global
👍2
M+ Global Market Update – 02Sep25
Court Ruling Rekindles Market Cautiousness
US: Wall Street was closed yesterday in conjunction with Labour Day, with the US indices futures currently trading mildly negative as investors assessed trade policy uncertainty after a federal appeals court ruled most of Trump’s tariffs as illegal, a decision he vowed to appeal to the Supreme Court. While a final ruling against broad-based tariffs could be market-positive, near-term sentiment remains clouded by potential renegotiations and seasonal weakness, with September historically being the worst month for the US equities. Investors will also be focusing on the August data for S&P Global Manufacturing PMI and ISM Manufacturing PMI today.
MY: We expect the local bourse to start the week on a softer note, tracking US negative index futures. Meanwhile, positive spillover effect may be seen in 99SMART, as more than RM50m was spent on the first day of the RM100 SARA cash handout. With recent news that GAMUDA bagged an RM2.1bn job to build hyperscale data centres in Eco Business Park V, Selangor, it is expected to bode well for the data centre-related sectors, including Construction and Property developers with exposure to industrial tech parks. Lastly, traders can monitor NEXG, as it bagged a 6-year contract worth RM1.7bn to supply Malaysian passports, and is currently pending a retest of its 52-week high resistance.
Stocks to watch:
Building Material: *MCEMENT*, UNIQUE
Finance: MAYBANK, *OSK*
Technology: *WENTEL*
Consumer: *99SMART*
Automotive: *BETAMEK*
Construction: *JTGROUP*
REIT: IGBREIT
Utility: MALAKOF
Source: M+ Global
Court Ruling Rekindles Market Cautiousness
US: Wall Street was closed yesterday in conjunction with Labour Day, with the US indices futures currently trading mildly negative as investors assessed trade policy uncertainty after a federal appeals court ruled most of Trump’s tariffs as illegal, a decision he vowed to appeal to the Supreme Court. While a final ruling against broad-based tariffs could be market-positive, near-term sentiment remains clouded by potential renegotiations and seasonal weakness, with September historically being the worst month for the US equities. Investors will also be focusing on the August data for S&P Global Manufacturing PMI and ISM Manufacturing PMI today.
MY: We expect the local bourse to start the week on a softer note, tracking US negative index futures. Meanwhile, positive spillover effect may be seen in 99SMART, as more than RM50m was spent on the first day of the RM100 SARA cash handout. With recent news that GAMUDA bagged an RM2.1bn job to build hyperscale data centres in Eco Business Park V, Selangor, it is expected to bode well for the data centre-related sectors, including Construction and Property developers with exposure to industrial tech parks. Lastly, traders can monitor NEXG, as it bagged a 6-year contract worth RM1.7bn to supply Malaysian passports, and is currently pending a retest of its 52-week high resistance.
Stocks to watch:
Building Material: *MCEMENT*, UNIQUE
Finance: MAYBANK, *OSK*
Technology: *WENTEL*
Consumer: *99SMART*
Automotive: *BETAMEK*
Construction: *JTGROUP*
REIT: IGBREIT
Utility: MALAKOF
Source: M+ Global
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M+ Global Market Wrap - 2Sep25
FBM KLCI: 1,576.70 pts (+1.58pts, +0.10%)
The FBMKLCI (+0.10%) reversed its intraday loss and closed higher at 1,576.70 pts, as bargain-hunting activities emerged in some of the key heavyweights like MAYBANK (+16.0 sen) and SUNWAY (+13.0 sen), lifting the key index higher. Nevertheless, market breadth remained negative, with 735 losers outpacing 336 winners. In the broader environment, only 3 out of 11 sectors ended the day in positive territory. The Transportation & Logistics (+0.30%) sector emerged as the top gainer, while the Utilities (-1.08%) sector saw the largest decline.
Top 3 Active stocks:
TANCO (2429): RM0.705 (unch)
EKOVEST (8877): RM0.345 (-3.0 sen)
CIMB (1023): RM7.240 (-19.0 sen)
Volume: 2.90 bn (100-bar avg vol: 2.96 bn)
Value: RM2.79 bn (100-bar avg val: RM2.39 bn)
Market Breadth: ⬆️336⬇️735
Crude palm oil: RM4,472 (+RM92)
Dow Futures: 45,430 pts (-171 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,576.70 pts (+1.58pts, +0.10%)
The FBMKLCI (+0.10%) reversed its intraday loss and closed higher at 1,576.70 pts, as bargain-hunting activities emerged in some of the key heavyweights like MAYBANK (+16.0 sen) and SUNWAY (+13.0 sen), lifting the key index higher. Nevertheless, market breadth remained negative, with 735 losers outpacing 336 winners. In the broader environment, only 3 out of 11 sectors ended the day in positive territory. The Transportation & Logistics (+0.30%) sector emerged as the top gainer, while the Utilities (-1.08%) sector saw the largest decline.
Top 3 Active stocks:
TANCO (2429): RM0.705 (unch)
EKOVEST (8877): RM0.345 (-3.0 sen)
CIMB (1023): RM7.240 (-19.0 sen)
Volume: 2.90 bn (100-bar avg vol: 2.96 bn)
Value: RM2.79 bn (100-bar avg val: RM2.39 bn)
Market Breadth: ⬆️336⬇️735
Crude palm oil: RM4,472 (+RM92)
Dow Futures: 45,430 pts (-171 pts)
**Source: M+ Global, Bloomberg **
💯2
M+ Morning Market Buzz - 3Sep25
Dow Jones: 45,295.81 pts (-249.07pts, -0.55%)
⬆️ Resistance: 46600
⬇️ Support: 44100
FBM KLCI: 1,576.70 pts (+1.58pts, +0.10%)
⬆️ Resistance: 1630
⬇️ Support: 1540
HSI Index: 25,496.55 pts (-120.87pts, -0.47%)
⬆️ Resistance: 26300
⬇️ Support: 24400
Crude Palm Oil: RM4,476 (+RM13, +0.29%)
⬆️ Resistance: 4610
⬇️ Support: 4290
Brent Oil: $69.14 (+$0.99, +1.45%)
⬆️ Resistance: 71.00
⬇️ Support: 65.60
Gold: $3,533.16 (-$2.76, -0.08%)
⬆️ Resistance: 3620
⬇️ Support: 3310
Source: Bloomberg, M+ Global
Dow Jones: 45,295.81 pts (-249.07pts, -0.55%)
⬆️ Resistance: 46600
⬇️ Support: 44100
FBM KLCI: 1,576.70 pts (+1.58pts, +0.10%)
⬆️ Resistance: 1630
⬇️ Support: 1540
HSI Index: 25,496.55 pts (-120.87pts, -0.47%)
⬆️ Resistance: 26300
⬇️ Support: 24400
Crude Palm Oil: RM4,476 (+RM13, +0.29%)
⬆️ Resistance: 4610
⬇️ Support: 4290
Brent Oil: $69.14 (+$0.99, +1.45%)
⬆️ Resistance: 71.00
⬇️ Support: 65.60
Gold: $3,533.16 (-$2.76, -0.08%)
⬆️ Resistance: 3620
⬇️ Support: 3310
Source: Bloomberg, M+ Global
👏2
M+ Global Market Update – 03Sep25
Negative Performance May Spillover To Local Bourse
US: Wall Street started the month lower, pressured by renewed tariff uncertainty, higher Treasury yields, and weakness in tech. We believe the overall market conditions may remain slightly weak as investors turned cautious after Trump vowed to appeal a federal ruling that deemed most of his imposed tariffs illegal. Meanwhile, rising bond yields weighed on rate-sensitive sectors, while sticky inflation data and lingering doubts over the Fed’s rate-cut path kept sentiment fragile. Attention will turn to US JOLTS Job Openings (Jul) data later today. In the commodities market, all three commodities including Brent oil, gold and CPO traded higher toward USD69/bbl, USD3,533/oz and RM4,476/MT respectively.
MY: Tracking the negative overnight performance in the US, we anticipate the local bourse to trade on a weaker tone today. The market may turn defensive, focusing on defensive sectors like Banks, REITs and Consumer, with some of our top picks including AMMB, IGBREIT, and 99SMART; the latter also just announced the expansion into China. Meanwhile, traders can monitor solar-related counters such as PEKAT and NORTHERN, which are currently in an uptrend underpinned by government initiatives like NETR, NEM, and LSS projects. Lastly, investors may also consider the upcoming IPO, Express Powerr Solutions Bhd (M+ TP: RM0.31).
Stocks to watch:
Utility: *GASMSIA*, *JTGROUP*, *NORTHERN*
Financial: MAYBANK, RHBBANK
REIT: IGBREIT, PAVREIT
Property: IOIPG, *SUNWAY*
Consumer: *UCHITEC*
Plantation: INNO
O&G: DIALOG
Source: M+ Global
Negative Performance May Spillover To Local Bourse
US: Wall Street started the month lower, pressured by renewed tariff uncertainty, higher Treasury yields, and weakness in tech. We believe the overall market conditions may remain slightly weak as investors turned cautious after Trump vowed to appeal a federal ruling that deemed most of his imposed tariffs illegal. Meanwhile, rising bond yields weighed on rate-sensitive sectors, while sticky inflation data and lingering doubts over the Fed’s rate-cut path kept sentiment fragile. Attention will turn to US JOLTS Job Openings (Jul) data later today. In the commodities market, all three commodities including Brent oil, gold and CPO traded higher toward USD69/bbl, USD3,533/oz and RM4,476/MT respectively.
MY: Tracking the negative overnight performance in the US, we anticipate the local bourse to trade on a weaker tone today. The market may turn defensive, focusing on defensive sectors like Banks, REITs and Consumer, with some of our top picks including AMMB, IGBREIT, and 99SMART; the latter also just announced the expansion into China. Meanwhile, traders can monitor solar-related counters such as PEKAT and NORTHERN, which are currently in an uptrend underpinned by government initiatives like NETR, NEM, and LSS projects. Lastly, investors may also consider the upcoming IPO, Express Powerr Solutions Bhd (M+ TP: RM0.31).
Stocks to watch:
Utility: *GASMSIA*, *JTGROUP*, *NORTHERN*
Financial: MAYBANK, RHBBANK
REIT: IGBREIT, PAVREIT
Property: IOIPG, *SUNWAY*
Consumer: *UCHITEC*
Plantation: INNO
O&G: DIALOG
Source: M+ Global
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Good Morning All,
Here’s our IPO note on JS Solar Holding Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.45 per share for JSSOLAR, representing a 45.2% upside from its IPO price of RM0.31. This valuation is based on a P/E ratio of 15.3x, pegged to the mid-FY27F EPS of 2.95 sen.
Investment highlights include:
(i) Introduction of BESS
(ii) Proxy of Tenaga
(iii) Further expansion in Sabah
(iv) Strong regulatory credentials to undertake projects of any scale
(v) Ongoing orderbook of RM39.7m
(vi) Tailwinds from favourable government policies
(vii) Market share expansion anticipated
Research Team, M+
3 Sep 2025
Here’s our IPO note on JS Solar Holding Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.45 per share for JSSOLAR, representing a 45.2% upside from its IPO price of RM0.31. This valuation is based on a P/E ratio of 15.3x, pegged to the mid-FY27F EPS of 2.95 sen.
Investment highlights include:
(i) Introduction of BESS
(ii) Proxy of Tenaga
(iii) Further expansion in Sabah
(iv) Strong regulatory credentials to undertake projects of any scale
(v) Ongoing orderbook of RM39.7m
(vi) Tailwinds from favourable government policies
(vii) Market share expansion anticipated
Research Team, M+
3 Sep 2025
Good Morning All,
We issued a technical buy call on Midea Group Co. Ltd.: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Robust financials
(ii) Strengthening brand visibility in Africa
(iii) AI-enabled features to further uplift margins
Research Team, M+
3 September 2025
We issued a technical buy call on Midea Group Co. Ltd.: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Robust financials
(ii) Strengthening brand visibility in Africa
(iii) AI-enabled features to further uplift margins
Research Team, M+
3 September 2025
M+ Global Market Wrap - 3Sep25
FBM KLCI: 1,578.52 pts (+1.82pts, +0.12%)
Despite the overnight losses in the US, the FBMKLCI (+0.12%) bucked the trend and closing higher for the second day, as gains in SUNWAY (+22.0 sen) and IHH (+11.0 sen) lifted the key index. Meanwhile, investors will also be focusing on BNM's OPR decision tomorrow. Market breadth turned positive, with 604 winners against 409 losers. Sector-wise, majority of the sectors turned bullish. Technology (+1.69%) sector outperformed, potentially buoyed by the news of OPPSTAR (+7.5 sen) teaming up with Inventec Corp to jointly develop a next-generation AI processing chip, while the Telecommunications & Media (-0.50%) sector declined the most.
Top 3 Active stocks:
VELESTO (5243): RM0.215 (+1.0 sen)
TANCO (2429): RM0.800 (+9.5 sen)
ZETRIX (0138): RM0.870 (+1.5 sen)
Volume: 2.70 bn (100-bar avg vol: 2.95 bn)
Value: RM2.81 bn (100-bar avg val: RM2.39 bn)
Market Breadth: ⬆️604⬇️409
Crude palm oil: RM4,450 (-RM26)
Dow Futures: 45,314 pts (-37 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,578.52 pts (+1.82pts, +0.12%)
Despite the overnight losses in the US, the FBMKLCI (+0.12%) bucked the trend and closing higher for the second day, as gains in SUNWAY (+22.0 sen) and IHH (+11.0 sen) lifted the key index. Meanwhile, investors will also be focusing on BNM's OPR decision tomorrow. Market breadth turned positive, with 604 winners against 409 losers. Sector-wise, majority of the sectors turned bullish. Technology (+1.69%) sector outperformed, potentially buoyed by the news of OPPSTAR (+7.5 sen) teaming up with Inventec Corp to jointly develop a next-generation AI processing chip, while the Telecommunications & Media (-0.50%) sector declined the most.
Top 3 Active stocks:
VELESTO (5243): RM0.215 (+1.0 sen)
TANCO (2429): RM0.800 (+9.5 sen)
ZETRIX (0138): RM0.870 (+1.5 sen)
Volume: 2.70 bn (100-bar avg vol: 2.95 bn)
Value: RM2.81 bn (100-bar avg val: RM2.39 bn)
Market Breadth: ⬆️604⬇️409
Crude palm oil: RM4,450 (-RM26)
Dow Futures: 45,314 pts (-37 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 4Sep25
Dow Jones: 45,271.23 pts (-24.58pts, -0.05%)
⬆️ Resistance: 46600
⬇️ Support: 44100
FBM KLCI: 1,578.52 pts (+1.82pts, +0.12%)
⬆️ Resistance: 1630
⬇️ Support: 1540
HSI Index: 25,343.43 pts (-153.12pts, -0.60%)
⬆️ Resistance: 26400
⬇️ Support: 24400
Crude Palm Oil: RM4,442 (-RM20, -0.45%)
⬆️ Resistance: 4590
⬇️ Support: 4290
Brent Oil: $69.14 (-$1.74, -2.52%)
⬆️ Resistance: 71.00
⬇️ Support: 65.80
Gold: $3,559.42 (+$26.26, +0.74%)
⬆️ Resistance: 3660
⬇️ Support: 3320
Source: Bloomberg, M+ Global
Dow Jones: 45,271.23 pts (-24.58pts, -0.05%)
⬆️ Resistance: 46600
⬇️ Support: 44100
FBM KLCI: 1,578.52 pts (+1.82pts, +0.12%)
⬆️ Resistance: 1630
⬇️ Support: 1540
HSI Index: 25,343.43 pts (-153.12pts, -0.60%)
⬆️ Resistance: 26400
⬇️ Support: 24400
Crude Palm Oil: RM4,442 (-RM20, -0.45%)
⬆️ Resistance: 4590
⬇️ Support: 4290
Brent Oil: $69.14 (-$1.74, -2.52%)
⬆️ Resistance: 71.00
⬇️ Support: 65.80
Gold: $3,559.42 (+$26.26, +0.74%)
⬆️ Resistance: 3660
⬇️ Support: 3320
Source: Bloomberg, M+ Global
M+ Global Market Update – 04Sep25
Solar Theme Back In Play
US: Though little progress has been made on de-escalating trade tensions, with Treasury yields nearing 5%, Wall Street managed to recover its previous day’s losses, which were tied to Alphabet’s antitrust ruling. Overall, we believe market participants will adopt a “wait-and-see” approach and Wall Street may trade cautiously given the uncertain trade tariff environment. On the economic front, the Fed reported softer-than-expected US labour market data, with focus now on upcoming releases including (i) unemployment claims, (ii) ISM services PMI, and (iii) non-farm payrolls. In the commodities market, Brent retreated towards USD67/bbl, while Gold climbed higher to USD3,559/oz. CPO prices remained stable at USD4,422/MT.
MY: Tracking the broadly positive overnight performance in the US, we anticipate the local bourse to trade on a firmer note today. Meanwhile, solar-related companies should see healthy buying support, given the recent rollout of LSS5+ packages. On the construction play, we believe traders may focus on (i) SUNCON and GAMUDA, as we anticipate the data centre boom will be sustained, and (ii) LSH Capital, which we deem undervalued given its 6–7x order book coverage ratio. On a more conservative play, traders may focus on sectors like Banks, REITs, and Consumers such as AMMB, IGBREIT, and 99SMART, given the lower input cost environment, with the latter having just announced its expansion into China.
Stocks to watch:
Technology: *ITMAX*, *UWC*
Building Material: SKBSHUT, *UNIQUE*
Financial: *BURSA*, OSK
Utility: GASMSIA, *PEKAT*
Consumer: HEIM, KOPI
Gaming: *GENM*
Source: M+ Global
Solar Theme Back In Play
US: Though little progress has been made on de-escalating trade tensions, with Treasury yields nearing 5%, Wall Street managed to recover its previous day’s losses, which were tied to Alphabet’s antitrust ruling. Overall, we believe market participants will adopt a “wait-and-see” approach and Wall Street may trade cautiously given the uncertain trade tariff environment. On the economic front, the Fed reported softer-than-expected US labour market data, with focus now on upcoming releases including (i) unemployment claims, (ii) ISM services PMI, and (iii) non-farm payrolls. In the commodities market, Brent retreated towards USD67/bbl, while Gold climbed higher to USD3,559/oz. CPO prices remained stable at USD4,422/MT.
MY: Tracking the broadly positive overnight performance in the US, we anticipate the local bourse to trade on a firmer note today. Meanwhile, solar-related companies should see healthy buying support, given the recent rollout of LSS5+ packages. On the construction play, we believe traders may focus on (i) SUNCON and GAMUDA, as we anticipate the data centre boom will be sustained, and (ii) LSH Capital, which we deem undervalued given its 6–7x order book coverage ratio. On a more conservative play, traders may focus on sectors like Banks, REITs, and Consumers such as AMMB, IGBREIT, and 99SMART, given the lower input cost environment, with the latter having just announced its expansion into China.
Stocks to watch:
Technology: *ITMAX*, *UWC*
Building Material: SKBSHUT, *UNIQUE*
Financial: *BURSA*, OSK
Utility: GASMSIA, *PEKAT*
Consumer: HEIM, KOPI
Gaming: *GENM*
Source: M+ Global
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Good Morning All,
Here’s our IPO note on Camaroe Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.17 per share for CAMAROE, indicating a 21.4% upside from the IPO price of RM0.14. This valuation is based on a PE multiple of 11.0x pegged to mid-FY26f EPS of 1.56 sen.
Investment highlights include:
(i) Full supply chain control to ensure consistent supply and healthy margins
(ii) Established export-driven B2B model with China as the main focus
(iii) Compliance with local and international quality standards
(iv) More ponds, more revenue
(v) Market share reflects overseas export focus
Research Team, M+
4 Sep 2025
Here’s our IPO note on Camaroe Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.17 per share for CAMAROE, indicating a 21.4% upside from the IPO price of RM0.14. This valuation is based on a PE multiple of 11.0x pegged to mid-FY26f EPS of 1.56 sen.
Investment highlights include:
(i) Full supply chain control to ensure consistent supply and healthy margins
(ii) Established export-driven B2B model with China as the main focus
(iii) Compliance with local and international quality standards
(iv) More ponds, more revenue
(v) Market share reflects overseas export focus
Research Team, M+
4 Sep 2025
Good Morning All,
We issued an update note on our coverage stock Inta Bina Group Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
This latest contract win is a significant positive for INTA, solidifying its order book. As this is the fourth win for FY25, it has boosted the YTD contract awards to c.RM679.3m, amounting to 46.8% of our full-year target. More importantly, this addition expands INTA's unbilled order book to a substantial RM1.9bn, providing strong earnings visibility with a 2.5x cover ratio over FY24's construction revenue.
Hence, we maintain our BUY recommendation with a target price of RM0.76, based on a P/E multiple of 11x pegged to FY26F EPS of 6.89 sen.
Research Team, M+
4 September 2025
We issued an update note on our coverage stock Inta Bina Group Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
This latest contract win is a significant positive for INTA, solidifying its order book. As this is the fourth win for FY25, it has boosted the YTD contract awards to c.RM679.3m, amounting to 46.8% of our full-year target. More importantly, this addition expands INTA's unbilled order book to a substantial RM1.9bn, providing strong earnings visibility with a 2.5x cover ratio over FY24's construction revenue.
Hence, we maintain our BUY recommendation with a target price of RM0.76, based on a P/E multiple of 11x pegged to FY26F EPS of 6.89 sen.
Research Team, M+
4 September 2025