M+ Global Market Update – 13Oct25
Markets Slumped on Trump’s China Tariff Threat
US: Wall Street tumbled on Friday after President Trump threatened 100% tariffs on Chinese imports, reigniting fears of a renewed US–China trade war. The announcement came in response to Beijing’s move to restrict rare earth exports, sending US rare earth stocks sharply higher, while major Chinese tech names such as BABA and BIDU plunged. Meanwhile, the ongoing government shutdown has delayed key economic data releases, clouding Fed’s outlook on further interest rate outlook this year. Despite the ongoing uncertainty of a US-China trade war, we believe Wall Street may rebound in the near term after President Trump says China situation will all be fine, presenting bargain-hunting opportunities on China-related stocks with strong fundamentals like BABA, PDD and BIDU.
MY: With the negative performance in the US, we anticipate FBMKLCI to start with a knee jerk selling pressure but bargain hunting should emerge as the fairly positive Budget 2026 was being tabled. The full implementation of e-invoicing in 2026, may benefit ADB, which started its breakout last Friday. Other budget-related beneficiaries include Technology, Utilities and RE sectors, underpinned by government’s AI push, water projects and LSS6 program. Besides, investors can also look into the upcoming IPO IAB (M+ TP: RM0.68), which is closing by today.
Stocks to watch:
Technology: CLOUDPT, *VSTECS*
Construction: *CBHB*, *UUE*
Consumer: *LWSABAH*, MFLOUR
Financial: MNRB, *RCECAP*
O&G: KEYFIELD
Source: M+ Global
Markets Slumped on Trump’s China Tariff Threat
US: Wall Street tumbled on Friday after President Trump threatened 100% tariffs on Chinese imports, reigniting fears of a renewed US–China trade war. The announcement came in response to Beijing’s move to restrict rare earth exports, sending US rare earth stocks sharply higher, while major Chinese tech names such as BABA and BIDU plunged. Meanwhile, the ongoing government shutdown has delayed key economic data releases, clouding Fed’s outlook on further interest rate outlook this year. Despite the ongoing uncertainty of a US-China trade war, we believe Wall Street may rebound in the near term after President Trump says China situation will all be fine, presenting bargain-hunting opportunities on China-related stocks with strong fundamentals like BABA, PDD and BIDU.
MY: With the negative performance in the US, we anticipate FBMKLCI to start with a knee jerk selling pressure but bargain hunting should emerge as the fairly positive Budget 2026 was being tabled. The full implementation of e-invoicing in 2026, may benefit ADB, which started its breakout last Friday. Other budget-related beneficiaries include Technology, Utilities and RE sectors, underpinned by government’s AI push, water projects and LSS6 program. Besides, investors can also look into the upcoming IPO IAB (M+ TP: RM0.68), which is closing by today.
Stocks to watch:
Technology: CLOUDPT, *VSTECS*
Construction: *CBHB*, *UUE*
Consumer: *LWSABAH*, MFLOUR
Financial: MNRB, *RCECAP*
O&G: KEYFIELD
Source: M+ Global
😁2
Good Morning All,
Here’s our IPO note on Insights Analytics Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Founded in 2005, IAB boasts a remarkable 20-year track record as an integrated smart infrastructure solutions provider. The Company specializes in the water utility chain, which includes water treatment, distribution, reduction of non-revenue water (NRW), leak detection, smart metering, as well as pressure management across its water technology solutions segment. Leveraging its experience in Water Utilities Infrastructure, IAB also provides intelligent asset management solutions which enables the Company to tailored to various industries.
Overall, we reckon that IAB will be able to deliver another year of solid improvement, backed by (i) a high-turnover order book, which currently stands at approximately RM35.3m, all of which 60-70% expected to be recognised within the year given the typically short-term nature of its contracts, and (ii) favourable government support for like the Water Transformation 2040 (WST2040), and many more.
Hence, we assign a target P/E of 13.0x, pegged to mid-FY27f EPS, translating to a fair value of RM0.68 per share. While the selected peers’ average P/E stands at approximately 36.6x, we deem our valuation reasonable, given that the Bloomberg GICS Water Utilities segment forward P/E stands at 11x, while the nearest peer is trading at 15x.
Research Team, M+
13 October 2025
Here’s our IPO note on Insights Analytics Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Founded in 2005, IAB boasts a remarkable 20-year track record as an integrated smart infrastructure solutions provider. The Company specializes in the water utility chain, which includes water treatment, distribution, reduction of non-revenue water (NRW), leak detection, smart metering, as well as pressure management across its water technology solutions segment. Leveraging its experience in Water Utilities Infrastructure, IAB also provides intelligent asset management solutions which enables the Company to tailored to various industries.
Overall, we reckon that IAB will be able to deliver another year of solid improvement, backed by (i) a high-turnover order book, which currently stands at approximately RM35.3m, all of which 60-70% expected to be recognised within the year given the typically short-term nature of its contracts, and (ii) favourable government support for like the Water Transformation 2040 (WST2040), and many more.
Hence, we assign a target P/E of 13.0x, pegged to mid-FY27f EPS, translating to a fair value of RM0.68 per share. While the selected peers’ average P/E stands at approximately 36.6x, we deem our valuation reasonable, given that the Bloomberg GICS Water Utilities segment forward P/E stands at 11x, while the nearest peer is trading at 15x.
Research Team, M+
13 October 2025
M+ Global Market Wrap - 13Oct25
FBM KLCI: 1,615.19 pts (-7.06pts, -0.44%)
The FBMKLCI (-0.44%) kickstarted the week in a risk-off mode, closing lower at 1,615.19 pts, as losses in PBBANK (-8.0 sen) and CIMB (-7.0 sen) dragged the key index lower. Asian markets also ended broadly lower, triggered by escalating US-China trade tensions. Market breadth was negative, with 817 losers outpacing 377 winners. In the broader market, the Health Care (+1.13%) sector outperformed, led by gains in TOPGLOV (+3.0 sen) and HARTA (+3.0 sen), while the Financial Services (-0.88%) sector experienced the largest decline.
Top 3 Active stocks:
TOPGLOV (7113): RM0.705 (+3.0 sen)
ZETRIX (0138): RM0.840 (-2.0 sen)
PHARMA (7081): RM0.275 (-1.0 sen)
Volume: 3.57 bn (100-bar avg vol: 3.01 bn)
Value: RM2.82 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️377⬇️817
Crude Palm Oil: RM4,544 (-RM56, -1.23%)
Dow Futures: 46,178 pts (+472 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,615.19 pts (-7.06pts, -0.44%)
The FBMKLCI (-0.44%) kickstarted the week in a risk-off mode, closing lower at 1,615.19 pts, as losses in PBBANK (-8.0 sen) and CIMB (-7.0 sen) dragged the key index lower. Asian markets also ended broadly lower, triggered by escalating US-China trade tensions. Market breadth was negative, with 817 losers outpacing 377 winners. In the broader market, the Health Care (+1.13%) sector outperformed, led by gains in TOPGLOV (+3.0 sen) and HARTA (+3.0 sen), while the Financial Services (-0.88%) sector experienced the largest decline.
Top 3 Active stocks:
TOPGLOV (7113): RM0.705 (+3.0 sen)
ZETRIX (0138): RM0.840 (-2.0 sen)
PHARMA (7081): RM0.275 (-1.0 sen)
Volume: 3.57 bn (100-bar avg vol: 3.01 bn)
Value: RM2.82 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️377⬇️817
Crude Palm Oil: RM4,544 (-RM56, -1.23%)
Dow Futures: 46,178 pts (+472 pts)
**Source: M+ Global, Bloomberg **
😁2
M+ Morning Market Buzz - 14Oct25
Dow Jones: 46,067.58 pts (+587.98pts, +1.29%)
⬆️ Resistance: 47900
⬇️ Support: 44600
FBM KLCI: 1,615.19 pts (-7.06pts, -0.44%)
⬆️ Resistance: 1670
⬇️ Support: 1570
HSI Index: 25,889.48 pts (-400.84pts, -1.52%)
⬆️ Resistance: 27600
⬇️ Support: 24900
Crude Palm Oil: RM4,499 (+RM21, +0.47%)
⬆️ Resistance: 4710
⬇️ Support: 4340
Brent Oil: $63.32 (+$0.59, +0.94%)
⬆️ Resistance: 68.00
⬇️ Support: 60.80
Gold: $4,110.27 (+$4.97, +0.12%)
⬆️ Resistance: 4200
⬇️ Support: 3870
Source: Bloomberg, M+ Global
Dow Jones: 46,067.58 pts (+587.98pts, +1.29%)
⬆️ Resistance: 47900
⬇️ Support: 44600
FBM KLCI: 1,615.19 pts (-7.06pts, -0.44%)
⬆️ Resistance: 1670
⬇️ Support: 1570
HSI Index: 25,889.48 pts (-400.84pts, -1.52%)
⬆️ Resistance: 27600
⬇️ Support: 24900
Crude Palm Oil: RM4,499 (+RM21, +0.47%)
⬆️ Resistance: 4710
⬇️ Support: 4340
Brent Oil: $63.32 (+$0.59, +0.94%)
⬆️ Resistance: 68.00
⬇️ Support: 60.80
Gold: $4,110.27 (+$4.97, +0.12%)
⬆️ Resistance: 4200
⬇️ Support: 3870
Source: Bloomberg, M+ Global
👍2🥰1😁1
M+ Global Market Update – 14Oct25
Wall Street Rallies as Trump Soften Stance on China
US: Wall Street rebounded sharply on Monday as President Trump struck a softer tone on China by saying that the US was not looking to “hurt” China, easing fears of an escalating trade war as the market looked for a TACO trade. Meanwhile, Broadcom rebounded after announcing a multi-year partnership with OpenAI to jointly develop 10GW of custom AI accelerators and computing systems, while Oracle (+5.1%) gained ahead of its much-anticipated AI event this week. Hence, despite lingering risks of renewed trade frictions, we believe sentiment may stay supported in the near term as investors rotate back into the US tech stocks, driven by the AI theme.
MY: Following the recovery in the US, we expect the local bourse to snap its selling pressure and rebound today. The market will also be focusing on news of GENTING’s plan to privatise GENM at RM2.35 and its share price will trade nearer to that zone. Meanwhile, amid lingering US-China tensions and TOPGLOV’s recent positive results, traders may continue to look for trading opportunities in glove-related counters. On the local front, we still favour the solar segment following the Budget 2026 announcement. Lastly, investors may also focus on the upcoming IPO, POWER (M+ TP: RM0.42), which will be closing its application today.
Stocks to watch:
Technology: ADB, DUFU, *QES*, UNISEM
Automotive: *BETA*, DRBHCOM
Construction: *ENGTEX*, INTA
Consumer: 99SMART, MFLOUR
Utility: RANHILL, *SAMAIDEN*
O&G: KEYFIELD
Source: M+ Global
Wall Street Rallies as Trump Soften Stance on China
US: Wall Street rebounded sharply on Monday as President Trump struck a softer tone on China by saying that the US was not looking to “hurt” China, easing fears of an escalating trade war as the market looked for a TACO trade. Meanwhile, Broadcom rebounded after announcing a multi-year partnership with OpenAI to jointly develop 10GW of custom AI accelerators and computing systems, while Oracle (+5.1%) gained ahead of its much-anticipated AI event this week. Hence, despite lingering risks of renewed trade frictions, we believe sentiment may stay supported in the near term as investors rotate back into the US tech stocks, driven by the AI theme.
MY: Following the recovery in the US, we expect the local bourse to snap its selling pressure and rebound today. The market will also be focusing on news of GENTING’s plan to privatise GENM at RM2.35 and its share price will trade nearer to that zone. Meanwhile, amid lingering US-China tensions and TOPGLOV’s recent positive results, traders may continue to look for trading opportunities in glove-related counters. On the local front, we still favour the solar segment following the Budget 2026 announcement. Lastly, investors may also focus on the upcoming IPO, POWER (M+ TP: RM0.42), which will be closing its application today.
Stocks to watch:
Technology: ADB, DUFU, *QES*, UNISEM
Automotive: *BETA*, DRBHCOM
Construction: *ENGTEX*, INTA
Consumer: 99SMART, MFLOUR
Utility: RANHILL, *SAMAIDEN*
O&G: KEYFIELD
Source: M+ Global
Good Morning All,
Here’s our IPO note on Powertechnic Group Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.42 per share for POWER, indicating a 20.0% upside from the IPO price of RM0.35. This valuation is based on a PE multiple of 22.3x pegged to FY26f EPS of 1.87 sen.
Investment highlights include:
(i) Integrated end-to-end solutions for lifting systems
(ii) Business diversity across multiple sectors to reduce sector-concentration risk
(iii) Beneficiary of JSSEZ
(iv) Higher demand anticipated due to NIMP 2030
(v) Market share expansion through both offline and online marketing channels
Research Team, M+
14 Oct 2025
Here’s our IPO note on Powertechnic Group Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.42 per share for POWER, indicating a 20.0% upside from the IPO price of RM0.35. This valuation is based on a PE multiple of 22.3x pegged to FY26f EPS of 1.87 sen.
Investment highlights include:
(i) Integrated end-to-end solutions for lifting systems
(ii) Business diversity across multiple sectors to reduce sector-concentration risk
(iii) Beneficiary of JSSEZ
(iv) Higher demand anticipated due to NIMP 2030
(v) Market share expansion through both offline and online marketing channels
Research Team, M+
14 Oct 2025
M+ Global Market Wrap - 14Oct25
FBM KLCI: 1,611.46 pts (-3.73pts, -0.23%)
In line with the continuation of the regional market selldown as market participant could be taking a risk-off mode following the escalating US-China trade tensions. Thus, the FBMKLCI (-0.23%) extended its selling pressure toward 1,611.46 pts, dragged by losses in CIMB (-8.0 sen) and PETGAS (-38.0 sen). Meanwhile, with the ongoing US government shutdown delaying the release of some key economic data, investors will be watching Fed Chair Powell’s speech later tonight to gauge the US interest rate outlook. Market breadth remained negative, with 811 losers against 390 winners. In the broader market, Consumer Products & Services (+1.17%) was the only positive sector, buoyed by gains in GENM (+18.0 sen) and 99SMART (+8.0 sen).
Top 3 Active stocks:
GENM (4715): RM2.320 (+18.0 sen)
PHARMA (7081): RM0.260 (-1.5 sen)
ZETRIX (0138): RM0.840 (unch)
Volume: 3.66 bn (100-bar avg vol: 3.01 bn)
Value: RM3.79 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️390⬇️811
Crude Palm Oil: RM4,499 (-RM28, -0.62%)
Dow Futures: 46,114 pts (-184 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,611.46 pts (-3.73pts, -0.23%)
In line with the continuation of the regional market selldown as market participant could be taking a risk-off mode following the escalating US-China trade tensions. Thus, the FBMKLCI (-0.23%) extended its selling pressure toward 1,611.46 pts, dragged by losses in CIMB (-8.0 sen) and PETGAS (-38.0 sen). Meanwhile, with the ongoing US government shutdown delaying the release of some key economic data, investors will be watching Fed Chair Powell’s speech later tonight to gauge the US interest rate outlook. Market breadth remained negative, with 811 losers against 390 winners. In the broader market, Consumer Products & Services (+1.17%) was the only positive sector, buoyed by gains in GENM (+18.0 sen) and 99SMART (+8.0 sen).
Top 3 Active stocks:
GENM (4715): RM2.320 (+18.0 sen)
PHARMA (7081): RM0.260 (-1.5 sen)
ZETRIX (0138): RM0.840 (unch)
Volume: 3.66 bn (100-bar avg vol: 3.01 bn)
Value: RM3.79 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️390⬇️811
Crude Palm Oil: RM4,499 (-RM28, -0.62%)
Dow Futures: 46,114 pts (-184 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 15Oct25
Dow Jones: 46,270.46 pts (+202.88pts, +0.44%)
⬆️ Resistance: 47800
⬇️ Support: 44600
FBM KLCI: 1,611.46 pts (-3.73pts, -0.23%)
⬆️ Resistance: 1670
⬇️ Support: 1570
HSI Index: 25,441.35 pts (-448.13pts, -1.73%)
⬆️ Resistance: 27600
⬇️ Support: 24900
Crude Palm Oil: RM4,461 (+RM6, +0.13%)
⬆️ Resistance: 4710
⬇️ Support: 4370
Brent Oil: $62.39 (-$0.93, -1.47%)
⬆️ Resistance: 68.00
⬇️ Support: 60.30
Gold: $4,142.94 (+$16.86, +0.44%)
⬆️ Resistance: 4270
⬇️ Support: 3870
Source: Bloomberg, M+ Global
Dow Jones: 46,270.46 pts (+202.88pts, +0.44%)
⬆️ Resistance: 47800
⬇️ Support: 44600
FBM KLCI: 1,611.46 pts (-3.73pts, -0.23%)
⬆️ Resistance: 1670
⬇️ Support: 1570
HSI Index: 25,441.35 pts (-448.13pts, -1.73%)
⬆️ Resistance: 27600
⬇️ Support: 24900
Crude Palm Oil: RM4,461 (+RM6, +0.13%)
⬆️ Resistance: 4710
⬇️ Support: 4370
Brent Oil: $62.39 (-$0.93, -1.47%)
⬆️ Resistance: 68.00
⬇️ Support: 60.30
Gold: $4,142.94 (+$16.86, +0.44%)
⬆️ Resistance: 4270
⬇️ Support: 3870
Source: Bloomberg, M+ Global
👍4
M+ Global Market Update – 15Oct25
Wall Street Stayed Mixed Amid China Threat
US: Wall Street slipped on Tuesday amid escalating US-China trade tensions after President Trump threatened to ban cooking oil imports from China, accusing Beijing of halting US soybean purchases. The remarks have reignited concerns of an escalating trade war, following Trump’s threat of a 100% tariff hike on Chinese goods just days prior. However, sentiment was partly cushioned by Fed Chair Powell’s dovish comments, signalling that the central bank’s quantitative tightening programme may be nearing its end, which boosted expectations of further rate cuts. Nevertheless, with the ongoing uncertainties due to US-China trade tensions, we expect Wall Street to extend its profit-taking activities today.
MY: Given the worsening US-China trade relations, we expect the FBMKLCI to continue trading in a cautious tone. Meanwhile, we are optimistic about AUMAS securing the renewal of its Bukit Mantri gold mine licence in Tawau, Sabah—the only large-scale gold mine in the state—which could support its share price rebound alongside elevated gold prices above $4,000. Lastly, with Consumer Products & Services being the only outperforming sector yesterday, we continue to favour 99SMART and MRDIY, as the RM15bn cash aid allocation under Budget 2026’s STR and SARA programmes is expected to lift consumer spending.
Stocks to watch:
Automotive: *BAUTO*, *BETA*, DRBHCOM, MCEHLDG
Technology: *ITMAX*
Construction: *UUE*
Gold-related: *WELLCHIP*
Plantation: TSH
Consumer: TEOSENG
Source: M+ Global
Wall Street Stayed Mixed Amid China Threat
US: Wall Street slipped on Tuesday amid escalating US-China trade tensions after President Trump threatened to ban cooking oil imports from China, accusing Beijing of halting US soybean purchases. The remarks have reignited concerns of an escalating trade war, following Trump’s threat of a 100% tariff hike on Chinese goods just days prior. However, sentiment was partly cushioned by Fed Chair Powell’s dovish comments, signalling that the central bank’s quantitative tightening programme may be nearing its end, which boosted expectations of further rate cuts. Nevertheless, with the ongoing uncertainties due to US-China trade tensions, we expect Wall Street to extend its profit-taking activities today.
MY: Given the worsening US-China trade relations, we expect the FBMKLCI to continue trading in a cautious tone. Meanwhile, we are optimistic about AUMAS securing the renewal of its Bukit Mantri gold mine licence in Tawau, Sabah—the only large-scale gold mine in the state—which could support its share price rebound alongside elevated gold prices above $4,000. Lastly, with Consumer Products & Services being the only outperforming sector yesterday, we continue to favour 99SMART and MRDIY, as the RM15bn cash aid allocation under Budget 2026’s STR and SARA programmes is expected to lift consumer spending.
Stocks to watch:
Automotive: *BAUTO*, *BETA*, DRBHCOM, MCEHLDG
Technology: *ITMAX*
Construction: *UUE*
Gold-related: *WELLCHIP*
Plantation: TSH
Consumer: TEOSENG
Source: M+ Global
M+ Global Market Wrap - 15Oct25
FBM KLCI: 1,611.55 pts (+0.09pts, +0.01%)
Following Fed Chair Powell’s dovish remarks, Asian markets rebounded from their losses, including the FBMKLCI (+0.01%), as gains in 99SMART (+11.0 sen) and MAXIS (+8.0 sen) lifted the key index higher. Meanwhile, market breadth turned positive, with 726 winners outpacing 426 losers. All sectors also ended in positive territory, with Telecommunications & Media (+1.57%) and Energy (+1.29%) emerged as the top performers.
Top 3 Active stocks:
VELESTO (5243): RM0.265 (+1.0 sen)
GENM (4715): RM2.340 (+2.0 sen)
GENTING (3182): RM3.400 (+39.0 sen)
Volume: 4.26 bn (100-bar avg vol: 3.03 bn)
Value: RM3.69 bn (100-bar avg val: RM2.53 bn)
Market Breadth: ⬆️726⬇️426
Crude Palm Oil: RM4,461 (+RM16, +0.36%)
Dow Futures: 46,670 pts (+170 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,611.55 pts (+0.09pts, +0.01%)
Following Fed Chair Powell’s dovish remarks, Asian markets rebounded from their losses, including the FBMKLCI (+0.01%), as gains in 99SMART (+11.0 sen) and MAXIS (+8.0 sen) lifted the key index higher. Meanwhile, market breadth turned positive, with 726 winners outpacing 426 losers. All sectors also ended in positive territory, with Telecommunications & Media (+1.57%) and Energy (+1.29%) emerged as the top performers.
Top 3 Active stocks:
VELESTO (5243): RM0.265 (+1.0 sen)
GENM (4715): RM2.340 (+2.0 sen)
GENTING (3182): RM3.400 (+39.0 sen)
Volume: 4.26 bn (100-bar avg vol: 3.03 bn)
Value: RM3.69 bn (100-bar avg val: RM2.53 bn)
Market Breadth: ⬆️726⬇️426
Crude Palm Oil: RM4,461 (+RM16, +0.36%)
Dow Futures: 46,670 pts (+170 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 16Oct25
Dow Jones: 46,253.31 pts (-17.15pts, -0.04%)
⬆️ Resistance: 47700
⬇️ Support: 44600
FBM KLCI: 1,611.55 pts (+0.09pts, +0.01%)
⬆️ Resistance: 1670
⬇️ Support: 1570
HSI Index: 25,910.60 pts (+469.25pts, +1.84%)
⬆️ Resistance: 27600
⬇️ Support: 24900
Crude Palm Oil: RM4,512 (+RM3, +0.07%)
⬆️ Resistance: 4710
⬇️ Support: 4350
Brent Oil: $61.91 (-$0.48, -0.77%)
⬆️ Resistance: 68.00
⬇️ Support: 60.30
Gold: $4,207.48 (+$3.02, +0.07%)
⬆️ Resistance: 4310
⬇️ Support: 3870
Source: Bloomberg, M+ Global
Dow Jones: 46,253.31 pts (-17.15pts, -0.04%)
⬆️ Resistance: 47700
⬇️ Support: 44600
FBM KLCI: 1,611.55 pts (+0.09pts, +0.01%)
⬆️ Resistance: 1670
⬇️ Support: 1570
HSI Index: 25,910.60 pts (+469.25pts, +1.84%)
⬆️ Resistance: 27600
⬇️ Support: 24900
Crude Palm Oil: RM4,512 (+RM3, +0.07%)
⬆️ Resistance: 4710
⬇️ Support: 4350
Brent Oil: $61.91 (-$0.48, -0.77%)
⬆️ Resistance: 68.00
⬇️ Support: 60.30
Gold: $4,207.48 (+$3.02, +0.07%)
⬆️ Resistance: 4310
⬇️ Support: 3870
Source: Bloomberg, M+ Global
👍3
M+ Global Market Update – 16Oct25
Upbeat Bank Earnings Lifted The Market Sentiment
US: S&P 500 and Nasdaq advanced on Wednesday, supported by upbeat bank earnings and growing speculation that the Fed will deliver another rate cut later this month. Sentiment was lifted by stronger-than-expected results from major banks including Bank of America, Morgan Stanley, Goldman Sachs and JPMorgan, all of which performed better than expected. Fed Chair Powell’s dovish remarks and Governor Miran’s call for quicker rate cuts also reinforced expectations of further monetary easing in 2025. Nevertheless, with the ongoing US-China trade tensions, as Trump hinted at cutting trade ties and Beijing retaliated with sanctions on US-linked firms, this may cap further market upside in the near term.
MY: Tracking Wall Street’s positive overnight performance, we expect the FBMKLCI to follow suit and extend its bullish momentum. Meanwhile, with Budget 2026 reinforcing the NETR via allocations for LSS6 solar projects, we remain bullish on the RE-related stocks like SAMAIDEN, KENERGY, and NORTHERN. The NETR also highlights Tenaga’s RM43bn grid upgrades, which will benefit substation and cable-related companies such as MNHLDG, JTGROUP, and PWRWELL. Lastly, traders may focus on East Malaysia-related stocks amid higher allocations for Sabah (RM6.9bn) and Sarawak (RM6.0bn), alongside the upcoming Sabah state election.
Stocks to watch:
Technology: *EDELTEQ*, FRONTKN, *INFOM*
Construction: *JTGROUP*, *SSB8*
Consumer: *KOPI*, MFLOUR
Utility: *KENERGY*
Chemical: TMK
Gold-related: WELLCHIP
Source: M+ Global
Upbeat Bank Earnings Lifted The Market Sentiment
US: S&P 500 and Nasdaq advanced on Wednesday, supported by upbeat bank earnings and growing speculation that the Fed will deliver another rate cut later this month. Sentiment was lifted by stronger-than-expected results from major banks including Bank of America, Morgan Stanley, Goldman Sachs and JPMorgan, all of which performed better than expected. Fed Chair Powell’s dovish remarks and Governor Miran’s call for quicker rate cuts also reinforced expectations of further monetary easing in 2025. Nevertheless, with the ongoing US-China trade tensions, as Trump hinted at cutting trade ties and Beijing retaliated with sanctions on US-linked firms, this may cap further market upside in the near term.
MY: Tracking Wall Street’s positive overnight performance, we expect the FBMKLCI to follow suit and extend its bullish momentum. Meanwhile, with Budget 2026 reinforcing the NETR via allocations for LSS6 solar projects, we remain bullish on the RE-related stocks like SAMAIDEN, KENERGY, and NORTHERN. The NETR also highlights Tenaga’s RM43bn grid upgrades, which will benefit substation and cable-related companies such as MNHLDG, JTGROUP, and PWRWELL. Lastly, traders may focus on East Malaysia-related stocks amid higher allocations for Sabah (RM6.9bn) and Sarawak (RM6.0bn), alongside the upcoming Sabah state election.
Stocks to watch:
Technology: *EDELTEQ*, FRONTKN, *INFOM*
Construction: *JTGROUP*, *SSB8*
Consumer: *KOPI*, MFLOUR
Utility: *KENERGY*
Chemical: TMK
Gold-related: WELLCHIP
Source: M+ Global
👍2
M+ Global Market Wrap - 16Oct25
FBM KLCI: 1,612.29 pts (+0.74pts, +0.05%)
Despite the ongoing US-China trade tensions, Asian markets continued to end broadly higher, including the FBMKLCI (+0.05%), as gains in PETGAS (+48.0 sen) and AXIATA (+10.0 sen) lifted the key index. However, traders trimmed some of their positions, with market breadth turning mildly negative at 578 losers against 536 winners. Sector-wise, Telecommunications & Media (+2.32%) outperformed, buoyed by gains in AXIATA (+10.0 sen) and CDB (+2.0 sen), while the Construction (-1.77%) sector declined the most.
Top 3 Active stocks:
GENTING (3182): RM3.470 (+7.0 sen)
GENM (4715): RM2.330 (-1.0 sen)
TWL (7079): RM0.025 (unch)
Volume: 3.49 bn (100-bar avg vol: 3.03 bn)
Value: RM2.85 bn (100-bar avg val: RM2.54 bn)
Market Breadth: ⬆️536⬇️578
Crude Palm Oil: RM4,512 (+RM15, +0.33%)
Dow Futures: 46,575 pts (+83 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,612.29 pts (+0.74pts, +0.05%)
Despite the ongoing US-China trade tensions, Asian markets continued to end broadly higher, including the FBMKLCI (+0.05%), as gains in PETGAS (+48.0 sen) and AXIATA (+10.0 sen) lifted the key index. However, traders trimmed some of their positions, with market breadth turning mildly negative at 578 losers against 536 winners. Sector-wise, Telecommunications & Media (+2.32%) outperformed, buoyed by gains in AXIATA (+10.0 sen) and CDB (+2.0 sen), while the Construction (-1.77%) sector declined the most.
Top 3 Active stocks:
GENTING (3182): RM3.470 (+7.0 sen)
GENM (4715): RM2.330 (-1.0 sen)
TWL (7079): RM0.025 (unch)
Volume: 3.49 bn (100-bar avg vol: 3.03 bn)
Value: RM2.85 bn (100-bar avg val: RM2.54 bn)
Market Breadth: ⬆️536⬇️578
Crude Palm Oil: RM4,512 (+RM15, +0.33%)
Dow Futures: 46,575 pts (+83 pts)
**Source: M+ Global, Bloomberg **
😁2
M+ Morning Market Buzz - 17Oct25
Dow Jones: 45,952.24 pts (-301.07pts, -0.65%)
⬆️ Resistance: 47700
⬇️ Support: 44600
FBM KLCI: 1,612.29 pts (+0.74pts, +0.05%)
⬆️ Resistance: 1670
⬇️ Support: 1570
HSI Index: 25,888.51 pts (-22.09pts, -0.09%)
⬆️ Resistance: 27100
⬇️ Support: 24900
Crude Palm Oil: RM4,520 (+RM39, +0.86%)
⬆️ Resistance: 4710
⬇️ Support: 4350
Brent Oil: $61.06 (-$0.85, -1.37%)
⬆️ Resistance: 66.70
⬇️ Support: 59.70
Gold: $4,326.58 (+$34.64, +0.80%)
⬆️ Resistance: 4420
⬇️ Support: 3870
Source: Bloomberg, M+ Global
Dow Jones: 45,952.24 pts (-301.07pts, -0.65%)
⬆️ Resistance: 47700
⬇️ Support: 44600
FBM KLCI: 1,612.29 pts (+0.74pts, +0.05%)
⬆️ Resistance: 1670
⬇️ Support: 1570
HSI Index: 25,888.51 pts (-22.09pts, -0.09%)
⬆️ Resistance: 27100
⬇️ Support: 24900
Crude Palm Oil: RM4,520 (+RM39, +0.86%)
⬆️ Resistance: 4710
⬇️ Support: 4350
Brent Oil: $61.06 (-$0.85, -1.37%)
⬆️ Resistance: 66.70
⬇️ Support: 59.70
Gold: $4,326.58 (+$34.64, +0.80%)
⬆️ Resistance: 4420
⬇️ Support: 3870
Source: Bloomberg, M+ Global
👍4👏1
M+ Global Market Update – 17Oct25
Market Reversed Amid Shutdown and Trade Worries
US: Wall Street reversed on Thursday, as sentiment weakened amid ongoing U.S. government shutdown concerns and worsening US-China trade tensions. Hopes for a quick resolution faded after the Senate failed to pass a funding bill, while Treasury Secretary Bessent reaffirmed the administration’s hardline stance toward Beijing. Meanwhile, Fed Governor Waller signalled support for another 25bps rate cut later this month, reinforcing dovish expectations, but weaker US factory data and persistent political uncertainty weighed on risk appetite. Hence, we expect Wall Street to continue trading on a softer note today. Also, gold extended its record rally amid uncertainty and global turmoil, signalling deepening market unease.
MY: Given Wall Street's negative performance, we expect the FBMKLCI to trade on a softer note ahead of the long weekend. Meanwhile, analysts remain optimistic on FRONTKN, underpinned by: (i) stronger demand from TSMC ahead of 2nm mass production, (ii) improved pricing power arising from more complex precision cleaning processes, and (iii) new business opportunities from TSMC’s ongoing US expansion plans. The Budget 2026's continued support for the National Semiconductor Strategy (NSS) may also bode well for the semiconductor stocks. Finally, traders may focus on INARI, PENTA, and AWC for trading opportunities.
Stocks to watch:
Technology: CNERGENZ, *EDELTEQ*, *QES*
Gold-related: *POHKONG*, *TOMEI*, WELLCHIP
Construction: *SSB8*
Automotive: *BETA*
O&G: KEYFIELD
Consumer: MFLOUR
Source: M+ Global
Market Reversed Amid Shutdown and Trade Worries
US: Wall Street reversed on Thursday, as sentiment weakened amid ongoing U.S. government shutdown concerns and worsening US-China trade tensions. Hopes for a quick resolution faded after the Senate failed to pass a funding bill, while Treasury Secretary Bessent reaffirmed the administration’s hardline stance toward Beijing. Meanwhile, Fed Governor Waller signalled support for another 25bps rate cut later this month, reinforcing dovish expectations, but weaker US factory data and persistent political uncertainty weighed on risk appetite. Hence, we expect Wall Street to continue trading on a softer note today. Also, gold extended its record rally amid uncertainty and global turmoil, signalling deepening market unease.
MY: Given Wall Street's negative performance, we expect the FBMKLCI to trade on a softer note ahead of the long weekend. Meanwhile, analysts remain optimistic on FRONTKN, underpinned by: (i) stronger demand from TSMC ahead of 2nm mass production, (ii) improved pricing power arising from more complex precision cleaning processes, and (iii) new business opportunities from TSMC’s ongoing US expansion plans. The Budget 2026's continued support for the National Semiconductor Strategy (NSS) may also bode well for the semiconductor stocks. Finally, traders may focus on INARI, PENTA, and AWC for trading opportunities.
Stocks to watch:
Technology: CNERGENZ, *EDELTEQ*, *QES*
Gold-related: *POHKONG*, *TOMEI*, WELLCHIP
Construction: *SSB8*
Automotive: *BETA*
O&G: KEYFIELD
Consumer: MFLOUR
Source: M+ Global
Good Morning All,
We issued a technical buy call on Inari Amerton Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Gradual earnings recovery in FY26–27
(ii) Lumileds acquisition to broaden OSAT capabilities
(iii) Beneficiary of National Semiconductor Strategy (NSS)
Research Team, M+
17 October 2025
We issued a technical buy call on Inari Amerton Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Gradual earnings recovery in FY26–27
(ii) Lumileds acquisition to broaden OSAT capabilities
(iii) Beneficiary of National Semiconductor Strategy (NSS)
Research Team, M+
17 October 2025
M+ Global Market Wrap - 17Oct25
FBM KLCI: 1,607.18 pts (-5.11pts, -0.32%)
Tracking the Asian markets’ selldown amid concerns over weakening credit health among the US regional banks, the FBMKLCI (-0.32%) experienced a pullback ahead of the long weekend, dragged by losses in GAMUDA (-14.0 sen) and SUNWAY (-12.0 sen). Market breadth remained negative, with 985 losers against 292 winners. All sectors also ended in negative territory, with Technology (-3.82%) and Construction (-2.21%) as the worst performers.
Top 3 Active stocks:
AIZO (7219): RM0.080 (+0.5 sen)
ZETRIX (0138): RM0.835 (-2.0 sen)
PHARMA (7081): RM0.270 (+0.5 sen)
Volume: 3.81 bn (100-bar avg vol: 3.04 bn)
Value: RM3.03 bn (100-bar avg val: RM2.55 bn)
Market Breadth: ⬆️292⬇️985
Crude Palm Oil: RM4,520 (-RM11, -0.24%)
Dow Futures: 45,793 pts (-367 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,607.18 pts (-5.11pts, -0.32%)
Tracking the Asian markets’ selldown amid concerns over weakening credit health among the US regional banks, the FBMKLCI (-0.32%) experienced a pullback ahead of the long weekend, dragged by losses in GAMUDA (-14.0 sen) and SUNWAY (-12.0 sen). Market breadth remained negative, with 985 losers against 292 winners. All sectors also ended in negative territory, with Technology (-3.82%) and Construction (-2.21%) as the worst performers.
Top 3 Active stocks:
AIZO (7219): RM0.080 (+0.5 sen)
ZETRIX (0138): RM0.835 (-2.0 sen)
PHARMA (7081): RM0.270 (+0.5 sen)
Volume: 3.81 bn (100-bar avg vol: 3.04 bn)
Value: RM3.03 bn (100-bar avg val: RM2.55 bn)
Market Breadth: ⬆️292⬇️985
Crude Palm Oil: RM4,520 (-RM11, -0.24%)
Dow Futures: 45,793 pts (-367 pts)
**Source: M+ Global, Bloomberg **
👏2
M+ Morning Market Buzz - 21Oct25
Dow Jones: 46,706.58 pts (+515.97pts, +1.12%)
⬆️ Resistance: 47700
⬇️ Support: 44600
FBM KLCI: 1,607.18 pts (-5.11pts, -0.32%)
⬆️ Resistance: 1660
⬇️ Support: 1580
HSI Index: 25,858.83 pts (+611.73pts, +2.42%)
⬆️ Resistance: 26700
⬇️ Support: 24700
Crude Palm Oil: RM4,513 (-RM7, -0.15%)
⬆️ Resistance: 4670
⬇️ Support: 4350
Brent Oil: $61.01 (-$0.28, -0.46%)
⬆️ Resistance: 65.00
⬇️ Support: 58.90
Gold: $4,356.30 (+$11.37, +0.26%)
⬆️ Resistance: 4470
⬇️ Support: 4010
Source: Bloomberg, M+ Global
Dow Jones: 46,706.58 pts (+515.97pts, +1.12%)
⬆️ Resistance: 47700
⬇️ Support: 44600
FBM KLCI: 1,607.18 pts (-5.11pts, -0.32%)
⬆️ Resistance: 1660
⬇️ Support: 1580
HSI Index: 25,858.83 pts (+611.73pts, +2.42%)
⬆️ Resistance: 26700
⬇️ Support: 24700
Crude Palm Oil: RM4,513 (-RM7, -0.15%)
⬆️ Resistance: 4670
⬇️ Support: 4350
Brent Oil: $61.01 (-$0.28, -0.46%)
⬆️ Resistance: 65.00
⬇️ Support: 58.90
Gold: $4,356.30 (+$11.37, +0.26%)
⬆️ Resistance: 4470
⬇️ Support: 4010
Source: Bloomberg, M+ Global
M+ Global Market Update – 21Oct25
Wall Street Gained Amid Easing US-China Tensions
US: Wall Street rallied on Monday, supported by easing US-China tensions and optimism over a potential end to the ongoing government shutdown. President Trump downplayed the likelihood of triple-digit tariffs on China and confirmed plans to meet President Xi in South Korea later this month, while Treasury Secretary Bessent held “constructive discussions” with Chinese officials according to Chinese state news sources. Meanwhile, investors will turn their focus to key earnings from Netflix and Tesla this week, alongside the delayed release of US inflation data on Friday. Given the positive developments in US-China relations, we expect Wall Street to continue its optimism today.
MY: Tracking the positive overnight performance in the US, we expect the FBMKLCI to kickstart the week on a stronger note. Meanwhile, we noticed some buying interest in automotive stocks such as DRBHCOM and MBMR, potentially benefitting from the car scrapping policy that offers up to RM4,000 in matching grants for replacing vehicles over 20 years old with a new national car. With anticipated rate cuts moving forward, we remain optimistic toward the REIT and Property sectors. Lastly, traders may monitor CAPITALA and AAX for trading opportunities, underpinned by CAPITALA’s potential PN17 upliftment by December.
Stocks to watch:
O&G: *DIALOG*, *KEYFIELD*
Healthcare: EDGENTA, *KPJ*
Technology: *INFOM*
Automotive: *BETA*
Finance: *BURSA*
Plantation: JPG
Telco: MAXIS
Aviation: CAPITALA
Source: M+ Global
Wall Street Gained Amid Easing US-China Tensions
US: Wall Street rallied on Monday, supported by easing US-China tensions and optimism over a potential end to the ongoing government shutdown. President Trump downplayed the likelihood of triple-digit tariffs on China and confirmed plans to meet President Xi in South Korea later this month, while Treasury Secretary Bessent held “constructive discussions” with Chinese officials according to Chinese state news sources. Meanwhile, investors will turn their focus to key earnings from Netflix and Tesla this week, alongside the delayed release of US inflation data on Friday. Given the positive developments in US-China relations, we expect Wall Street to continue its optimism today.
MY: Tracking the positive overnight performance in the US, we expect the FBMKLCI to kickstart the week on a stronger note. Meanwhile, we noticed some buying interest in automotive stocks such as DRBHCOM and MBMR, potentially benefitting from the car scrapping policy that offers up to RM4,000 in matching grants for replacing vehicles over 20 years old with a new national car. With anticipated rate cuts moving forward, we remain optimistic toward the REIT and Property sectors. Lastly, traders may monitor CAPITALA and AAX for trading opportunities, underpinned by CAPITALA’s potential PN17 upliftment by December.
Stocks to watch:
O&G: *DIALOG*, *KEYFIELD*
Healthcare: EDGENTA, *KPJ*
Technology: *INFOM*
Automotive: *BETA*
Finance: *BURSA*
Plantation: JPG
Telco: MAXIS
Aviation: CAPITALA
Source: M+ Global
M+ Global Market Wrap - 21Oct25
FBM KLCI: 1,614.69 pts (+7.51pts, +0.47%)
In line with the positive Wall Street overnight performance, the FBMKLCI (+0.60%) started the week on a stronger note, buoyed by gains in key heavyweights like PBBANK (+7.0 sen) and NESTLE (+450.0 sen). Asian markets also closed broadly higher, underpinned by easing US-China tensions. Market breadth was positive, with 779 winners against 369 losers. Sector-wise, Technology (+2.38%) rebounded, led by INARI (+11.0 sen) and GREATEC (+10.0 sen), while REIT (-0.22%) was the only sector that ended in negative territory.
Top 3 Active stocks:
TANCO (2429): RM0.870 (+1.0 sen)
EAH (0154): RM0.005 (unch)
TWL (7079): RM0.025 (unch)
Volume: 3.69 bn (100-bar avg vol: 3.05 bn)
Value: RM2.55 bn (100-bar avg val: RM2.56 bn)
Market Breadth: ⬆️779⬇️369
Crude Palm Oil: RM4,513 (-RM2, -0.04%)
Dow Futures: 46,826 pts (-87 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,614.69 pts (+7.51pts, +0.47%)
In line with the positive Wall Street overnight performance, the FBMKLCI (+0.60%) started the week on a stronger note, buoyed by gains in key heavyweights like PBBANK (+7.0 sen) and NESTLE (+450.0 sen). Asian markets also closed broadly higher, underpinned by easing US-China tensions. Market breadth was positive, with 779 winners against 369 losers. Sector-wise, Technology (+2.38%) rebounded, led by INARI (+11.0 sen) and GREATEC (+10.0 sen), while REIT (-0.22%) was the only sector that ended in negative territory.
Top 3 Active stocks:
TANCO (2429): RM0.870 (+1.0 sen)
EAH (0154): RM0.005 (unch)
TWL (7079): RM0.025 (unch)
Volume: 3.69 bn (100-bar avg vol: 3.05 bn)
Value: RM2.55 bn (100-bar avg val: RM2.56 bn)
Market Breadth: ⬆️779⬇️369
Crude Palm Oil: RM4,513 (-RM2, -0.04%)
Dow Futures: 46,826 pts (-87 pts)
**Source: M+ Global, Bloomberg **
M+ Global Market Update – 22Oct25
“Sell The Dollar” Sentiment Faded
US: While there was little progress towards de-escalating trade war and government shutdown concerns, Wall Street inched higher ahead of inflation data and Q3 corporate earnings. To reiterate, we believe AI-related stocks remain a key tailwind, with ASML’s Q3 results coming in above analysts’ estimates, underscoring ongoing demand amid strong investments in AI infrastructure. Moreover, we believe market participants are starting to recognize Salesforce’s autonomous agent segment, given the recent breakout. This breakout, we believe, reflects that recent quarters’ bookings were largely driven by its existing customers—all of which stand as a strong testament to its delivery capabilities.
MY: In view of a mixed Wall Street performance, coupled with Malaysia’s upcoming ASEAN Summit as well as positive developments from the Budget 2026, we expect the KLCI index to trade on a firmer note. On stock picks, we believe DRBHCOM, MBMR, and TCHONG are potential proxies for the recent car scrapping policy (matching grants for replacing vehicles over 20 years old with a new national car). Moreover, growing power demand from data centre investments, compounded by the ongoing NETR masterplan and Tenaga’s expanding CapEx could bode well for utility players such as GASMSIA, MNHLDG, and KJTS.
Stocks to watch:
Technology: ATECH, *EG*, SNS, *UNISEM*
Automotive: BETA, *MCEHLDG*
Consumer: *MFLOUR*, TEOSENG
O&G: *KEYFIELD*
Healthcare: EDGENTA
Source: M+ Global
“Sell The Dollar” Sentiment Faded
US: While there was little progress towards de-escalating trade war and government shutdown concerns, Wall Street inched higher ahead of inflation data and Q3 corporate earnings. To reiterate, we believe AI-related stocks remain a key tailwind, with ASML’s Q3 results coming in above analysts’ estimates, underscoring ongoing demand amid strong investments in AI infrastructure. Moreover, we believe market participants are starting to recognize Salesforce’s autonomous agent segment, given the recent breakout. This breakout, we believe, reflects that recent quarters’ bookings were largely driven by its existing customers—all of which stand as a strong testament to its delivery capabilities.
MY: In view of a mixed Wall Street performance, coupled with Malaysia’s upcoming ASEAN Summit as well as positive developments from the Budget 2026, we expect the KLCI index to trade on a firmer note. On stock picks, we believe DRBHCOM, MBMR, and TCHONG are potential proxies for the recent car scrapping policy (matching grants for replacing vehicles over 20 years old with a new national car). Moreover, growing power demand from data centre investments, compounded by the ongoing NETR masterplan and Tenaga’s expanding CapEx could bode well for utility players such as GASMSIA, MNHLDG, and KJTS.
Stocks to watch:
Technology: ATECH, *EG*, SNS, *UNISEM*
Automotive: BETA, *MCEHLDG*
Consumer: *MFLOUR*, TEOSENG
O&G: *KEYFIELD*
Healthcare: EDGENTA
Source: M+ Global