M+ Morning Market Buzz - 9Sep25
Dow Jones: 45,514.95 pts (+114.09pts, +0.25%)
⬆️ Resistance: 46700
⬇️ Support: 44100
FBM KLCI: 1,585.59 pts (+7.44pts, +0.47%)
⬆️ Resistance: 1620
⬇️ Support: 1540
HSI Index: 25,633.91 pts (+215.93pts, +0.85%)
⬆️ Resistance: 26400
⬇️ Support: 24600
Crude Palm Oil: RM4,488 (RM0, 0.00%)
⬆️ Resistance: 4590
⬇️ Support: 4320
Brent Oil: $66.02 (+$0.52, +0.79%)
⬆️ Resistance: 71.00
⬇️ Support: 63.80
Gold: $3,635.98 (-$6.17, -0.17%)
⬆️ Resistance: 3720
⬇️ Support: 3410
Source: Bloomberg, M+ Global
Dow Jones: 45,514.95 pts (+114.09pts, +0.25%)
⬆️ Resistance: 46700
⬇️ Support: 44100
FBM KLCI: 1,585.59 pts (+7.44pts, +0.47%)
⬆️ Resistance: 1620
⬇️ Support: 1540
HSI Index: 25,633.91 pts (+215.93pts, +0.85%)
⬆️ Resistance: 26400
⬇️ Support: 24600
Crude Palm Oil: RM4,488 (RM0, 0.00%)
⬆️ Resistance: 4590
⬇️ Support: 4320
Brent Oil: $66.02 (+$0.52, +0.79%)
⬆️ Resistance: 71.00
⬇️ Support: 63.80
Gold: $3,635.98 (-$6.17, -0.17%)
⬆️ Resistance: 3720
⬇️ Support: 3410
Source: Bloomberg, M+ Global
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M+ Global Market Update – 09Sep25
Small Cap Index Experienced A Small Breakout
US: The market continued to stay positive amid tech-driven momentum, shrugging off the ongoing uncertain trade environment. However, last week President Trump commented that there will be a substantial semiconductor tariff that will be coming “shortly”, which may limit the upside potential of the current movements. In the near term, traders will be watching the CPI and PPI data to assess the FOMC decision next week. The current market is looking at a rate cut, with ~10% of market participants pricing in a 50bps cut. In the commodities market, both Brent and gold remained stable at USD65/bbl and USD3,629/oz, while CPO edged marginally higher to RM4,488/MT.
MY: Given the broadly positive overnight performance in the US, we anticipate healthy buying support to sustain momentum in the local index. The FBM Small Cap index has experienced a short-term breakout formation, which we think might be a bullish sign for more upside potential on a broader scale. Moreover, with the recent rollout of LSS5+, we believe SLVEST, PEKAT, and NORTHERN are direct proxies, riding on government initiatives. Meanwhile, we expect the ongoing data center and AI catalysts to provide buying support for construction and technology stocks. For a more conservative play, traders may focus on consumer stocks, supported by a stronger ringgit and domestic-led MyKasih cash handouts.
Stocks to watch:
Construction and Building Material: *CBHB*, *JTGROUP*, SKBSHUT, UNIQUE
REIT: PAVREIT, SUNREIT
Utility: *RANHILL*, YTLPOWR
Technology: *EDELTEQ*
Gaming: *GENM*
Consumer: HUPSENG
Financial: MNRB
Source: M+ Global
Small Cap Index Experienced A Small Breakout
US: The market continued to stay positive amid tech-driven momentum, shrugging off the ongoing uncertain trade environment. However, last week President Trump commented that there will be a substantial semiconductor tariff that will be coming “shortly”, which may limit the upside potential of the current movements. In the near term, traders will be watching the CPI and PPI data to assess the FOMC decision next week. The current market is looking at a rate cut, with ~10% of market participants pricing in a 50bps cut. In the commodities market, both Brent and gold remained stable at USD65/bbl and USD3,629/oz, while CPO edged marginally higher to RM4,488/MT.
MY: Given the broadly positive overnight performance in the US, we anticipate healthy buying support to sustain momentum in the local index. The FBM Small Cap index has experienced a short-term breakout formation, which we think might be a bullish sign for more upside potential on a broader scale. Moreover, with the recent rollout of LSS5+, we believe SLVEST, PEKAT, and NORTHERN are direct proxies, riding on government initiatives. Meanwhile, we expect the ongoing data center and AI catalysts to provide buying support for construction and technology stocks. For a more conservative play, traders may focus on consumer stocks, supported by a stronger ringgit and domestic-led MyKasih cash handouts.
Stocks to watch:
Construction and Building Material: *CBHB*, *JTGROUP*, SKBSHUT, UNIQUE
REIT: PAVREIT, SUNREIT
Utility: *RANHILL*, YTLPOWR
Technology: *EDELTEQ*
Gaming: *GENM*
Consumer: HUPSENG
Financial: MNRB
Source: M+ Global
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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 positive for INTA and it further solidifies its order book. As the fifth win for FY25, it has lifted YTD contract awards to c.RM745.8m, representing 51.4% of our full-year target. More importantly, the addition expands INTA's unbilled order book to ~RM1.9bn, providing strong earnings visibility with a 2.5x cover ratio over FY24 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+
9 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 positive for INTA and it further solidifies its order book. As the fifth win for FY25, it has lifted YTD contract awards to c.RM745.8m, representing 51.4% of our full-year target. More importantly, the addition expands INTA's unbilled order book to ~RM1.9bn, providing strong earnings visibility with a 2.5x cover ratio over FY24 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+
9 September 2025
M+ Global Market Wrap - 9Sep25
FBM KLCI: 1,584.72 pts (-0.87pts, -0.05%)
Tuesday’s session saw the local bourse eked out marginal gains as advances in Plantation heavyweights were offset by profit-taking activities in Utilities heavyweights like TENAGA (-22.0 sen). Market breadth tilted positively with gainers outpacing losers at 506-to-447 stocks, while total traded volume stood above the norm. On the back of a stronger Malaysian Ringgit environment, Consumer Products & Services (+1.11%) outperformed with NESTLE (+210.0 sen) and PPB (+30.0 sen) leading the pack, while Technology (-0.50%) declined the most.
Top 3 Active stocks:
PHARMA (7081): RM0.215 (+2.5 sen)
ZETRIX (0138): RM0.855 (-0.5 sen)
VELESTO (5243): RM0.210 (-0.5 sen)
Volume: 3.01 bn (100-bar avg vol: 2.92 bn)
Value: RM2.61 bn (100-bar avg val: RM2.36 bn)
Market Breadth: ⬆️506⬇️447
us
Dow Futures: 45,577 pts (+2 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,584.72 pts (-0.87pts, -0.05%)
Tuesday’s session saw the local bourse eked out marginal gains as advances in Plantation heavyweights were offset by profit-taking activities in Utilities heavyweights like TENAGA (-22.0 sen). Market breadth tilted positively with gainers outpacing losers at 506-to-447 stocks, while total traded volume stood above the norm. On the back of a stronger Malaysian Ringgit environment, Consumer Products & Services (+1.11%) outperformed with NESTLE (+210.0 sen) and PPB (+30.0 sen) leading the pack, while Technology (-0.50%) declined the most.
Top 3 Active stocks:
PHARMA (7081): RM0.215 (+2.5 sen)
ZETRIX (0138): RM0.855 (-0.5 sen)
VELESTO (5243): RM0.210 (-0.5 sen)
Volume: 3.01 bn (100-bar avg vol: 2.92 bn)
Value: RM2.61 bn (100-bar avg val: RM2.36 bn)
Market Breadth: ⬆️506⬇️447
us
Dow Futures: 45,577 pts (+2 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 10Sep25
Dow Jones: 45,711.34 pts (+196.39pts, +0.43%)
⬆️ Resistance: 46700
⬇️ Support: 44100
FBM KLCI: 1,586.81 pts (+1.22pts, +0.08%)
⬆️ Resistance: 1620
⬇️ Support: 1550
HSI Index: 25,938.13 pts (+304.22pts, +1.19%)
⬆️ Resistance: 26600
⬇️ Support: 24600
Crude Palm Oil: RM4,479 (-RM39, -0.87%)
⬆️ Resistance: 4600
⬇️ Support: 4320
Brent Oil: $66.39 (+$0.37, +0.56%)
⬆️ Resistance: 70.70
⬇️ Support: 63.80
Gold: $3,626.63 (+$9.02, +0.08%)
⬆️ Resistance: 3750
⬇️ Support: 3450
Source: Bloomberg, M+ Global
Dow Jones: 45,711.34 pts (+196.39pts, +0.43%)
⬆️ Resistance: 46700
⬇️ Support: 44100
FBM KLCI: 1,586.81 pts (+1.22pts, +0.08%)
⬆️ Resistance: 1620
⬇️ Support: 1550
HSI Index: 25,938.13 pts (+304.22pts, +1.19%)
⬆️ Resistance: 26600
⬇️ Support: 24600
Crude Palm Oil: RM4,479 (-RM39, -0.87%)
⬆️ Resistance: 4600
⬇️ Support: 4320
Brent Oil: $66.39 (+$0.37, +0.56%)
⬆️ Resistance: 70.70
⬇️ Support: 63.80
Gold: $3,626.63 (+$9.02, +0.08%)
⬆️ Resistance: 3750
⬇️ Support: 3450
Source: Bloomberg, M+ Global
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M+ Global Market Update – 10Sep25
Buying Support Remains Intact
US: While the US job market points toward slower growth, Wall Street has continued to recover, with 93% of participants now pricing in a 25bps rate cut next week. Moreover, though semiconductor tariffs remain a key focus, we believe Amazon’s new golden goose; the customization of semiconductor chips catering to customers’ specific needs, should be able to carve out a niche against NVIDIA and AMD. In the near term, traders will be tracking the CPI and PPI data, assessing the FOMC decision next week. In the commodities market, Brent remained stable at USD65/bbl while Gold closed higher at USD3,632/oz, with CPO edged lower to RM4,440/MT.
MY: Given Wall Street’s positive overnight performance, we foresee healthy buying support likely to continue its rebound momentum on the local front. Moreover, with US job revisions pointing to stronger rate cut bets, we expect WELLCHIP and EMCC to be the direct proxies, as Gold has surpassed $3,600; potentially driving higher redemption rate from their customers. The recent rollout of LSS5+ should support key solar players like SLVEST, PEKAT, and NOTHERN. For a more conservative play, traders may focus on consumer stocks such as LWSABAH with (i) contributions from its recent acquisition of Twinine, and (ii) a conservative ~RM1m monthly revenue from the 99SMART product placement, we see deem the stock to be undervalued, with margins standing well above its peers.
Stocks to watch:
Technology: *EDELTEQ*, *NE*, TTVHB, *UWC*
Utility: *JTGROUP*
Financial: *MNRB*
Gaming: *GENM*
Automotive: DRBHCOM
Telco: AXIATA
Property: SUNWAY
Source: M+ Global
Buying Support Remains Intact
US: While the US job market points toward slower growth, Wall Street has continued to recover, with 93% of participants now pricing in a 25bps rate cut next week. Moreover, though semiconductor tariffs remain a key focus, we believe Amazon’s new golden goose; the customization of semiconductor chips catering to customers’ specific needs, should be able to carve out a niche against NVIDIA and AMD. In the near term, traders will be tracking the CPI and PPI data, assessing the FOMC decision next week. In the commodities market, Brent remained stable at USD65/bbl while Gold closed higher at USD3,632/oz, with CPO edged lower to RM4,440/MT.
MY: Given Wall Street’s positive overnight performance, we foresee healthy buying support likely to continue its rebound momentum on the local front. Moreover, with US job revisions pointing to stronger rate cut bets, we expect WELLCHIP and EMCC to be the direct proxies, as Gold has surpassed $3,600; potentially driving higher redemption rate from their customers. The recent rollout of LSS5+ should support key solar players like SLVEST, PEKAT, and NOTHERN. For a more conservative play, traders may focus on consumer stocks such as LWSABAH with (i) contributions from its recent acquisition of Twinine, and (ii) a conservative ~RM1m monthly revenue from the 99SMART product placement, we see deem the stock to be undervalued, with margins standing well above its peers.
Stocks to watch:
Technology: *EDELTEQ*, *NE*, TTVHB, *UWC*
Utility: *JTGROUP*
Financial: *MNRB*
Gaming: *GENM*
Automotive: DRBHCOM
Telco: AXIATA
Property: SUNWAY
Source: M+ Global
Good Morning All,
We issued a technical buy call on Jati Tinggi Group Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) RM42.9m subcontract win
(ii) Strong order book visibility
(iii) Riding the national energy agenda
Research Team, M+
10 September 2025
We issued a technical buy call on Jati Tinggi Group Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) RM42.9m subcontract win
(ii) Strong order book visibility
(iii) Riding the national energy agenda
Research Team, M+
10 September 2025
M+ Global Market Wrap - 10Sep25
FBM KLCI: 1,590.75 pts (+3.94pts, +0.25%)
Taking cues from Wall Street’s positive lead, Wednesday’s session saw the local bourse continue to recover from intraweek low, with resilient buying interest in IHH (+16.0 sen). Market breadth tilted positively with gainers outpacing losers at 518-to-487 stocks. On the broader market, Telco & Media (+1.73%) outperformed, with AXIATA (+12.0 sen) and MAXIS (+3.0 sen) while Industrial Products & Services (-0.70%) declined the most.
Top 3 Active stocks:
VS (6963): RM0.540 (-10.0 sen)
CLASSITA (7154): RM0.095 (+1.0 sen)
PHARMA (7081): RM0.220 (+0.5 sen)
Volume: 2.66 bn (100-bar avg vol: 2.91 bn)
Value: RM2.29 bn (100-bar avg val: RM2.37 bn)
Market Breadth: ⬆️518⬇️487
us
Dow Futures: 45,659 pts (-98 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,590.75 pts (+3.94pts, +0.25%)
Taking cues from Wall Street’s positive lead, Wednesday’s session saw the local bourse continue to recover from intraweek low, with resilient buying interest in IHH (+16.0 sen). Market breadth tilted positively with gainers outpacing losers at 518-to-487 stocks. On the broader market, Telco & Media (+1.73%) outperformed, with AXIATA (+12.0 sen) and MAXIS (+3.0 sen) while Industrial Products & Services (-0.70%) declined the most.
Top 3 Active stocks:
VS (6963): RM0.540 (-10.0 sen)
CLASSITA (7154): RM0.095 (+1.0 sen)
PHARMA (7081): RM0.220 (+0.5 sen)
Volume: 2.66 bn (100-bar avg vol: 2.91 bn)
Value: RM2.29 bn (100-bar avg val: RM2.37 bn)
Market Breadth: ⬆️518⬇️487
us
Dow Futures: 45,659 pts (-98 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 11Sep25
Dow Jones: 45,490.92 pts (-220.42pts, -0.48%)
⬆️ Resistance: 46700
⬇️ Support: 44300
FBM KLCI: 1,590.75 pts (+3.94pts, +0.25%)
⬆️ Resistance: 1630
⬇️ Support: 1550
HSI Index: 26,200.26 pts (+262.13pts, +1.01%)
⬆️ Resistance: 26900
⬇️ Support: 24600
Crude Palm Oil: RM4,413 (+RM7, +0.16%)
⬆️ Resistance: 4600
⬇️ Support: 4300
Brent Oil: $67.49 (+$1.10, +1.66%)
⬆️ Resistance: 69.20
⬇️ Support: 63.80
Gold: $3,640.75 (-$1.77, -0.05%)
⬆️ Resistance: 3750
⬇️ Support: 3450
Source: Bloomberg, M+ Global
Dow Jones: 45,490.92 pts (-220.42pts, -0.48%)
⬆️ Resistance: 46700
⬇️ Support: 44300
FBM KLCI: 1,590.75 pts (+3.94pts, +0.25%)
⬆️ Resistance: 1630
⬇️ Support: 1550
HSI Index: 26,200.26 pts (+262.13pts, +1.01%)
⬆️ Resistance: 26900
⬇️ Support: 24600
Crude Palm Oil: RM4,413 (+RM7, +0.16%)
⬆️ Resistance: 4600
⬇️ Support: 4300
Brent Oil: $67.49 (+$1.10, +1.66%)
⬆️ Resistance: 69.20
⬇️ Support: 63.80
Gold: $3,640.75 (-$1.77, -0.05%)
⬆️ Resistance: 3750
⬇️ Support: 3450
Source: Bloomberg, M+ Global
M+ Global Market Update – 11Sep25
Technology Stocks May Remain Attractive
US: While the cost of wholesale goods and services fell in August from a high base in July, coupled with a slower job growth environment; this should fuel further rate cut bets. The Dow, however took a breather as we believe market participants are taking a ‘wait-and-see’ approach ahead of inflation data due tonight. On the semiconductor segment, NVIDIA, AMD, ARM, and CoreWeave ended significantly higher, following Oracle’s bullish guidance. In the near term, traders will be tracking the CPI and unemployment claims, assessing the FOMC’s decision next week. In the commodities market, Brent edged higher towards USD67/bbl while Gold remained stable at USD3,640/oz, with CPO closed lower to RM4,420/MT.
MY: Despite the mixed overnight performance in the US, we expect selective buying momentum to persist on the local front. Also, the Technology sector could be boosted by strong overnight performances from tech giants. In view of softer PPI numbers, coupled with soft jobs data, we expect gold to trade higher for the near to mid-term, which would benefit WELLCHIP and EMCC. Moreover, we believe CBHB is trading at undemanding valuations, supported by healthy DC pipelines. For a more conservative and stronger ringgit environment, we believe LWSABAH offers upside given its recent Twinine acquisition.
Stocks to watch:
Technology: *EDELTEQ*, INFOM, *NE*, *TTVHB*, UWC
Utility: GASMSIA, *JTGROUP*, *MNHLDG*, YTL
Gold-related: WELLCHIP
Gaming: *GENM*
Telco: MAXIS
Source: M+ Global
Technology Stocks May Remain Attractive
US: While the cost of wholesale goods and services fell in August from a high base in July, coupled with a slower job growth environment; this should fuel further rate cut bets. The Dow, however took a breather as we believe market participants are taking a ‘wait-and-see’ approach ahead of inflation data due tonight. On the semiconductor segment, NVIDIA, AMD, ARM, and CoreWeave ended significantly higher, following Oracle’s bullish guidance. In the near term, traders will be tracking the CPI and unemployment claims, assessing the FOMC’s decision next week. In the commodities market, Brent edged higher towards USD67/bbl while Gold remained stable at USD3,640/oz, with CPO closed lower to RM4,420/MT.
MY: Despite the mixed overnight performance in the US, we expect selective buying momentum to persist on the local front. Also, the Technology sector could be boosted by strong overnight performances from tech giants. In view of softer PPI numbers, coupled with soft jobs data, we expect gold to trade higher for the near to mid-term, which would benefit WELLCHIP and EMCC. Moreover, we believe CBHB is trading at undemanding valuations, supported by healthy DC pipelines. For a more conservative and stronger ringgit environment, we believe LWSABAH offers upside given its recent Twinine acquisition.
Stocks to watch:
Technology: *EDELTEQ*, INFOM, *NE*, *TTVHB*, UWC
Utility: GASMSIA, *JTGROUP*, *MNHLDG*, YTL
Gold-related: WELLCHIP
Gaming: *GENM*
Telco: MAXIS
Source: M+ Global
😍2
M+ Global Market Wrap - 11Sep25
FBM KLCI: 1,582.85 pts (-7.90pts, -0.50%)
While most Asian markets traded on a firmer note, Thursday’s session on the local bourse saw profit-taking as traders pared exposure on Consumer Products & Services heavyweights. However, market breadth was neutral with gainers matched losers at a 1-to-1 ratio. With Oracle posting stellar results and upbeat CapEx guidance, the latter lifted local Technology (+1.60%) stocks, led by VITROX (+19.0 sen) and UWC (+27.0 sen), while Financial Services (-0.77%) declined the most.
Top 3 Active stocks:
VS(6963): RM0.550 (+1.0 sen)
PHARMA (7081): RM0.245 (+2.5 sen)
TANCO (2429): RM0.810 (+1.0 sen)
Volume: 2.48 bn (100-bar avg vol: 2.91 bn)
Value: RM2.32 bn (100-bar avg val: RM2.37 bn)
Market Breadth: ⬆️461⬇️482
Crude Palm Oil: RM4,413 (+RM42, +0.95%)
Dow Futures: 45,568 pts (+28 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,582.85 pts (-7.90pts, -0.50%)
While most Asian markets traded on a firmer note, Thursday’s session on the local bourse saw profit-taking as traders pared exposure on Consumer Products & Services heavyweights. However, market breadth was neutral with gainers matched losers at a 1-to-1 ratio. With Oracle posting stellar results and upbeat CapEx guidance, the latter lifted local Technology (+1.60%) stocks, led by VITROX (+19.0 sen) and UWC (+27.0 sen), while Financial Services (-0.77%) declined the most.
Top 3 Active stocks:
VS(6963): RM0.550 (+1.0 sen)
PHARMA (7081): RM0.245 (+2.5 sen)
TANCO (2429): RM0.810 (+1.0 sen)
Volume: 2.48 bn (100-bar avg vol: 2.91 bn)
Value: RM2.32 bn (100-bar avg val: RM2.37 bn)
Market Breadth: ⬆️461⬇️482
Crude Palm Oil: RM4,413 (+RM42, +0.95%)
Dow Futures: 45,568 pts (+28 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 12Sep25
Dow Jones: 46,108.00 pts (+617.08pts, +1.36%)
⬆️ Resistance: 47100
⬇️ Support: 44400
FBM KLCI: 1,582.85 pts (-7.90pts, -0.50%)
⬆️ Resistance: 1630
⬇️ Support: 1550
HSI Index: 26,086.32 pts (-113.94pts, -0.43%)
⬆️ Resistance: 26900
⬇️ Support: 24600
Crude Palm Oil: RM4,454 (+RM12, +0.27%)
⬆️ Resistance: 4600
⬇️ Support: 4300
Brent Oil: $66.37 (-$1.12, -1.66%)
⬆️ Resistance: 69.20
⬇️ Support: 63.80
Gold: $3,634.07 (+$1.29, +0.04%)
⬆️ Resistance: 3750
⬇️ Support: 3470
Source: Bloomberg, M+ Global
Dow Jones: 46,108.00 pts (+617.08pts, +1.36%)
⬆️ Resistance: 47100
⬇️ Support: 44400
FBM KLCI: 1,582.85 pts (-7.90pts, -0.50%)
⬆️ Resistance: 1630
⬇️ Support: 1550
HSI Index: 26,086.32 pts (-113.94pts, -0.43%)
⬆️ Resistance: 26900
⬇️ Support: 24600
Crude Palm Oil: RM4,454 (+RM12, +0.27%)
⬆️ Resistance: 4600
⬇️ Support: 4300
Brent Oil: $66.37 (-$1.12, -1.66%)
⬆️ Resistance: 69.20
⬇️ Support: 63.80
Gold: $3,634.07 (+$1.29, +0.04%)
⬆️ Resistance: 3750
⬇️ Support: 3470
Source: Bloomberg, M+ Global
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M+ Global Market Update – 12Sep25
FOMC Meeting In Focus
US: Recent data indicates that the new 2025 tariffs are being passed through to consumer prices, especially for core goods, adding about ~$88bn in revenues. This is reflected in the latest US CPI data, which is fuelling anticipation of a rate cut next week and driving Wall Street to new highs. Also, odds of a larger half-point reduction have risen in recent days, especially after preliminary benchmark revisions showed US job growth slowing. Moreover, we believe AI Chips player like NVIDIA and AMD should be a direct proxy for growing AI Chip spending, with Oracle recently guiding another CapEx spending; reflecting that AI demand remains strong. Hence, the market could sustain its momentum in the near term.
MY: With Wall Street’s positive performance overnight, we believe Malaysia’s key index will continue its recovery after a slight pullback yesterday. With tech giants reporting healthy spending on AI chips, we believe buying support may spillover to local technology players as Technology sub-indices experienced a flag breakout. In view of a rate cut and a weaker Dollar outlook, the price of gold should remain elevated, benefitting WELLCHIP and EMCC. Lastly, with healthy project pipelines, a solid order book, and recent contract wins of relatively higher value, we deem CBHB to be trading at undemanding valuation levels.
Stocks to watch:
Technology: *3REN*, *CORAZA*, *EDELTEQ*, EG
Consumer: FFB
Construction: GDB, *KIMLUN*
Utility: MALAKOF, *MNHLDG*
Source: M+ Global
FOMC Meeting In Focus
US: Recent data indicates that the new 2025 tariffs are being passed through to consumer prices, especially for core goods, adding about ~$88bn in revenues. This is reflected in the latest US CPI data, which is fuelling anticipation of a rate cut next week and driving Wall Street to new highs. Also, odds of a larger half-point reduction have risen in recent days, especially after preliminary benchmark revisions showed US job growth slowing. Moreover, we believe AI Chips player like NVIDIA and AMD should be a direct proxy for growing AI Chip spending, with Oracle recently guiding another CapEx spending; reflecting that AI demand remains strong. Hence, the market could sustain its momentum in the near term.
MY: With Wall Street’s positive performance overnight, we believe Malaysia’s key index will continue its recovery after a slight pullback yesterday. With tech giants reporting healthy spending on AI chips, we believe buying support may spillover to local technology players as Technology sub-indices experienced a flag breakout. In view of a rate cut and a weaker Dollar outlook, the price of gold should remain elevated, benefitting WELLCHIP and EMCC. Lastly, with healthy project pipelines, a solid order book, and recent contract wins of relatively higher value, we deem CBHB to be trading at undemanding valuation levels.
Stocks to watch:
Technology: *3REN*, *CORAZA*, *EDELTEQ*, EG
Consumer: FFB
Construction: GDB, *KIMLUN*
Utility: MALAKOF, *MNHLDG*
Source: M+ Global
👍2
Good Morning All,
We issued a technical buy call on MN Holdings Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Earnings well-above consensus estimates,
(ii) Earnings visibility remains strong,
(iii) Plenty of projects in the pipeline
Research Team, M+
12 September 2025
We issued a technical buy call on MN Holdings Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Earnings well-above consensus estimates,
(ii) Earnings visibility remains strong,
(iii) Plenty of projects in the pipeline
Research Team, M+
12 September 2025
M+ Global Market Wrap - 12Sep25
FBM KLCI: 1,600.13 pts (+17.28pts, +1.09%)
With Asian markets trading on a firmer note, Friday’s local bourse saw traders piling into Banking heavyweights, buoyed by growing expectations of rate cuts after US CPI data met consensus forecasts. Market breadth was positive, with gainers outpacing losers at a 639-to-394 ratio. Most sectors advanced, led by Utilities (+1.54%) as YTL-related counters topped the pack, while Transportation & Logistics (-0.21%) declined the most.
Top 3 Active stocks:
VS(6963): RM0.545 (-0.5 sen)
TANCO (2429): RM0.825 (+1.5 sen)
VELESTO (5243): RM0.230 (+1.5 sen)
Volume: 2.23 bn (100-bar avg vol: 2.90 bn)
Value: RM2.10 bn (100-bar avg val: RM2.38 bn)
Market Breadth: ⬆️639⬇️394
Crude Palm Oil: RM4,454 (-RM25, -0.56%)
Dow Futures: 46,061 pts (-80 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,600.13 pts (+17.28pts, +1.09%)
With Asian markets trading on a firmer note, Friday’s local bourse saw traders piling into Banking heavyweights, buoyed by growing expectations of rate cuts after US CPI data met consensus forecasts. Market breadth was positive, with gainers outpacing losers at a 639-to-394 ratio. Most sectors advanced, led by Utilities (+1.54%) as YTL-related counters topped the pack, while Transportation & Logistics (-0.21%) declined the most.
Top 3 Active stocks:
VS(6963): RM0.545 (-0.5 sen)
TANCO (2429): RM0.825 (+1.5 sen)
VELESTO (5243): RM0.230 (+1.5 sen)
Volume: 2.23 bn (100-bar avg vol: 2.90 bn)
Value: RM2.10 bn (100-bar avg val: RM2.38 bn)
Market Breadth: ⬆️639⬇️394
Crude Palm Oil: RM4,454 (-RM25, -0.56%)
Dow Futures: 46,061 pts (-80 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 17Sep25
Dow Jones: 45,757.90 pts (-125.55pts, -0.27%)
⬆️ Resistance: 47100
⬇️ Support: 44500
FBM KLCI: 1,600.13 pts (+17.28pts, +1.09%)
⬆️ Resistance: 1640
⬇️ Support: 1550
HSI Index: 26,438.51 pts (-8.05pts, -0.03%)
⬆️ Resistance: 27200
⬇️ Support: 25400
Crude Palm Oil: RM4,470 (-RM11, -0.25%)
⬆️ Resistance: 4580
⬇️ Support: 4300
Brent Oil: $68.47 (+$1.03, +1.53%)
⬆️ Resistance: 70.10
⬇️ Support: 64.40
Gold: $3,689.98 (+$4.83, +0.12%)
⬆️ Resistance: 3780
⬇️ Support: 3550
Source: Bloomberg, M+ Global
Dow Jones: 45,757.90 pts (-125.55pts, -0.27%)
⬆️ Resistance: 47100
⬇️ Support: 44500
FBM KLCI: 1,600.13 pts (+17.28pts, +1.09%)
⬆️ Resistance: 1640
⬇️ Support: 1550
HSI Index: 26,438.51 pts (-8.05pts, -0.03%)
⬆️ Resistance: 27200
⬇️ Support: 25400
Crude Palm Oil: RM4,470 (-RM11, -0.25%)
⬆️ Resistance: 4580
⬇️ Support: 4300
Brent Oil: $68.47 (+$1.03, +1.53%)
⬆️ Resistance: 70.10
⬇️ Support: 64.40
Gold: $3,689.98 (+$4.83, +0.12%)
⬆️ Resistance: 3780
⬇️ Support: 3550
Source: Bloomberg, M+ Global
👍3
M+ Global Market Update – 17Sep25
Higher Volatility Expected Ahead of FOMC Meeting
US: Wall Street slipped on Tuesday ahead of the Fed’s widely expected 25bps rate cut, due to profit-taking activities after a long stretch of rally. August retail sales rose 0.6% MoM, beating estimates of 0.2% and signalling resilient consumer spending, although focus remains largely on labour market softness. Meanwhile, optimism over US-China trade talks and progress on a TikTok ownership deal will help support sentiment. Hence, we expect Wall Street on a positive note ahead of the FOMC meeting, which would benefit sectors like REITs and consumer discretionary.
MY: Despite the negative overnight performance in the US, we anticipate the local bourse to kickstart the week positively ahead of the highly anticipated FOMC meeting. Meanwhile, KLK has launched its KLK TechPark, a 1,500-acre integrated industrial hub in Tanjong Malim, anchored by Chinese EV giant BYD’s 150-acre facility in Phase 1. The project has an estimated GDV of RM3.5bn over the next decade, and will be developed in phases from 2025–2035. We view this positively as it (i) diversifies KLK’s earnings beyond plantations and (ii) positions the group to benefit from Malaysia’s EV and high-tech supply chain ambitions. KLK has a consensus TP of RM21.47, implying an upside potential of 7.6%. Lastly, traders can look into SKBSHUT, which is pending a breakout trading opportunity.
Stocks to watch:
Construction: *HEGROUP*, PESONA, *SKBSHUT*
Financial: *BURSA*, *MNRB*
Plantation: INNO, UTDPLT
Property: *ECOWLD*
Technology: *SNS*
Consumer: *GENM*
Utility: MALAKOF
Telco: MAXIS
Source: M+ Global
Higher Volatility Expected Ahead of FOMC Meeting
US: Wall Street slipped on Tuesday ahead of the Fed’s widely expected 25bps rate cut, due to profit-taking activities after a long stretch of rally. August retail sales rose 0.6% MoM, beating estimates of 0.2% and signalling resilient consumer spending, although focus remains largely on labour market softness. Meanwhile, optimism over US-China trade talks and progress on a TikTok ownership deal will help support sentiment. Hence, we expect Wall Street on a positive note ahead of the FOMC meeting, which would benefit sectors like REITs and consumer discretionary.
MY: Despite the negative overnight performance in the US, we anticipate the local bourse to kickstart the week positively ahead of the highly anticipated FOMC meeting. Meanwhile, KLK has launched its KLK TechPark, a 1,500-acre integrated industrial hub in Tanjong Malim, anchored by Chinese EV giant BYD’s 150-acre facility in Phase 1. The project has an estimated GDV of RM3.5bn over the next decade, and will be developed in phases from 2025–2035. We view this positively as it (i) diversifies KLK’s earnings beyond plantations and (ii) positions the group to benefit from Malaysia’s EV and high-tech supply chain ambitions. KLK has a consensus TP of RM21.47, implying an upside potential of 7.6%. Lastly, traders can look into SKBSHUT, which is pending a breakout trading opportunity.
Stocks to watch:
Construction: *HEGROUP*, PESONA, *SKBSHUT*
Financial: *BURSA*, *MNRB*
Plantation: INNO, UTDPLT
Property: *ECOWLD*
Technology: *SNS*
Consumer: *GENM*
Utility: MALAKOF
Telco: MAXIS
Source: M+ Global
Good Evening All,
We issued a technical buy call on PDD Holdings Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Strong fundamentals
(ii) Strengthening its ecosystem
(iii) Gaining traction in the US
Research Team, M+
17 September 2025
We issued a technical buy call on PDD Holdings Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Strong fundamentals
(ii) Strengthening its ecosystem
(iii) Gaining traction in the US
Research Team, M+
17 September 2025
M+ Global Market Wrap - 17Sep25
FBM KLCI: 1,611.70 pts (+11.57pts, +0.72%)
With the anticipation of a Fed rate cut in the FOMC meeting, the FBMKLCI (+0.72%) extended its gains toward 1611.70 pts, buoyed by gains in CIMB (+15.0 sen) and PETDAG (+124.0 sen). Meanwhile, foreign investors turned net buyers last week, with net equities inflow of RM223.9m. The market breadth was positive, with 739 winners against 408 losers. Sector-wise, 11 out of 13 sectors ended in the positive territory, with Consumer Products & Services (+1.74%) performing the best, while the Construction (-0.81%) sector saw the largest decline.
Top 3 Active stocks:
PHARMA (7081): RM0.275 (+2.5 sen)
ZETRIX (0138): RM0.875 (+1.5 sen)
VS (6963): RM0.555 (+1.0 sen)
Volume: 3.13 bn (100-bar avg vol: 2.92 bn)
Value: RM3.17 bn (100-bar avg val: RM2.38 bn)
Market Breadth: ⬆️739⬇️408
Crude Palm Oil: RM4,470 (-RM4, -0.09%)
Dow Futures: 46,123 pts (+4 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,611.70 pts (+11.57pts, +0.72%)
With the anticipation of a Fed rate cut in the FOMC meeting, the FBMKLCI (+0.72%) extended its gains toward 1611.70 pts, buoyed by gains in CIMB (+15.0 sen) and PETDAG (+124.0 sen). Meanwhile, foreign investors turned net buyers last week, with net equities inflow of RM223.9m. The market breadth was positive, with 739 winners against 408 losers. Sector-wise, 11 out of 13 sectors ended in the positive territory, with Consumer Products & Services (+1.74%) performing the best, while the Construction (-0.81%) sector saw the largest decline.
Top 3 Active stocks:
PHARMA (7081): RM0.275 (+2.5 sen)
ZETRIX (0138): RM0.875 (+1.5 sen)
VS (6963): RM0.555 (+1.0 sen)
Volume: 3.13 bn (100-bar avg vol: 2.92 bn)
Value: RM3.17 bn (100-bar avg val: RM2.38 bn)
Market Breadth: ⬆️739⬇️408
Crude Palm Oil: RM4,470 (-RM4, -0.09%)
Dow Futures: 46,123 pts (+4 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 18Sep25
Dow Jones: 46,018.32 pts (+260.42pts, +0.57%)
⬆️ Resistance: 47200
⬇️ Support: 44700
FBM KLCI: 1,611.70 pts (+11.57pts, +0.72%)
⬆️ Resistance: 1650
⬇️ Support: 1550
HSI Index: 26,908.39 pts (+469.88pts, +1.78%)
⬆️ Resistance: 27500
⬇️ Support: 25400
Crude Palm Oil: RM4,475 (-RM23, -0.51%)
⬆️ Resistance: 4650
⬇️ Support: 4310
Brent Oil: $67.95 (-$0.52, -0.76%)
⬆️ Resistance: 70.10
⬇️ Support: 64.40
Gold: $3,659.90 (+$3.29, +0.08%)
⬆️ Resistance: 3790
⬇️ Support: 3550
Source: Bloomberg, M+ Global
Dow Jones: 46,018.32 pts (+260.42pts, +0.57%)
⬆️ Resistance: 47200
⬇️ Support: 44700
FBM KLCI: 1,611.70 pts (+11.57pts, +0.72%)
⬆️ Resistance: 1650
⬇️ Support: 1550
HSI Index: 26,908.39 pts (+469.88pts, +1.78%)
⬆️ Resistance: 27500
⬇️ Support: 25400
Crude Palm Oil: RM4,475 (-RM23, -0.51%)
⬆️ Resistance: 4650
⬇️ Support: 4310
Brent Oil: $67.95 (-$0.52, -0.76%)
⬆️ Resistance: 70.10
⬇️ Support: 64.40
Gold: $3,659.90 (+$3.29, +0.08%)
⬆️ Resistance: 3790
⬇️ Support: 3550
Source: Bloomberg, M+ Global
👍2
M+ Global Market Update – 18Sep25
More Rate Cuts Expected Moving Forward
US: Wall Street ended mixed on Wednesday as the Fed delivered a 25bps rate cut, largely in line with market expectations, while signalling two further cuts this year to cushion the slowdown in the labour market. The Fed commented that inflation was "somewhat elevated" and the unemployment outlook was largely unchanged. Traders characterised the rate cut as a "risk management cut" rather than the beginning of an interest rate downcycle. Nonetheless, we expect the Russell 2000 index to continue gaining momentum in this environment, while the Technology sector may pull back further, translating to softer S&P 500 and Nasdaq movements.
MY: Following the Fed's rate cut decision, we expect the FBMKLCI to continue trading higher today, as improving global liquidity should bode well for Asian and emerging markets, including Malaysia. However, with the 19% tariff on 1st August, coupled with a weakening USD, we believe the export-oriented sectors will be negatively impacted in the upcoming results. On the flip side, domestically-driven sectors such as construction, utilities, REITs, banks, and consumer products & services should be in focus. Meanwhile, with the news of KLK launching its KLK TechPark, we remain bullish on KLK, as well as property developers with industrial or tech park exposure, including ECOWLD, SIMEPROP, and MAHSING.
Stocks to watch:
Financial: *AMBANK*, *BURSA*, *MNRB*
Consumer: 99SMART, *HAPSENG*
Utility: YTL, YTLPOWR
Technology: *SNS*
Gaming: *GENM*
Construction: HEGROUP
REIT: SUNREIT
Source: M+ Global
More Rate Cuts Expected Moving Forward
US: Wall Street ended mixed on Wednesday as the Fed delivered a 25bps rate cut, largely in line with market expectations, while signalling two further cuts this year to cushion the slowdown in the labour market. The Fed commented that inflation was "somewhat elevated" and the unemployment outlook was largely unchanged. Traders characterised the rate cut as a "risk management cut" rather than the beginning of an interest rate downcycle. Nonetheless, we expect the Russell 2000 index to continue gaining momentum in this environment, while the Technology sector may pull back further, translating to softer S&P 500 and Nasdaq movements.
MY: Following the Fed's rate cut decision, we expect the FBMKLCI to continue trading higher today, as improving global liquidity should bode well for Asian and emerging markets, including Malaysia. However, with the 19% tariff on 1st August, coupled with a weakening USD, we believe the export-oriented sectors will be negatively impacted in the upcoming results. On the flip side, domestically-driven sectors such as construction, utilities, REITs, banks, and consumer products & services should be in focus. Meanwhile, with the news of KLK launching its KLK TechPark, we remain bullish on KLK, as well as property developers with industrial or tech park exposure, including ECOWLD, SIMEPROP, and MAHSING.
Stocks to watch:
Financial: *AMBANK*, *BURSA*, *MNRB*
Consumer: 99SMART, *HAPSENG*
Utility: YTL, YTLPOWR
Technology: *SNS*
Gaming: *GENM*
Construction: HEGROUP
REIT: SUNREIT
Source: M+ Global