M+ Morning Market Buzz - 15Jan26
Dow Jones: 49,149.63 pts (-42.36pts, -0.09%)
⬆️ Resistance: 50700
⬇️ Support: 47900
FBM KLCI: 1,710.91 pts (+2.71pts, +0.16%)
⬆️ Resistance: 1750
⬇️ Support: 1640
HSI Index: 26,999.81 pts (+151.34pts, +0.56%)
⬆️ Resistance: 27700
⬇️ Support: 25500
Crude Palm Oil: RM4,040 (-RM18, -0.45%)
⬆️ Resistance: 4230
⬇️ Support: 3940
Brent Oil: $66.52 (+$1.05, +1.60%)
⬆️ Resistance: 68.20
⬇️ Support: 58.80
Gold: $4,626.58 (-$18.26, -0.42%)
⬆️ Resistance: 4740
⬇️ Support: 4320
Source: Bloomberg, M+ Global
Dow Jones: 49,149.63 pts (-42.36pts, -0.09%)
⬆️ Resistance: 50700
⬇️ Support: 47900
FBM KLCI: 1,710.91 pts (+2.71pts, +0.16%)
⬆️ Resistance: 1750
⬇️ Support: 1640
HSI Index: 26,999.81 pts (+151.34pts, +0.56%)
⬆️ Resistance: 27700
⬇️ Support: 25500
Crude Palm Oil: RM4,040 (-RM18, -0.45%)
⬆️ Resistance: 4230
⬇️ Support: 3940
Brent Oil: $66.52 (+$1.05, +1.60%)
⬆️ Resistance: 68.20
⬇️ Support: 58.80
Gold: $4,626.58 (-$18.26, -0.42%)
⬆️ Resistance: 4740
⬇️ Support: 4320
Source: Bloomberg, M+ Global
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M+ Global Market Update – 15Jan26
Dragged by Bank Results and China Chip Restriction
US: Wall Street closed lower, dragged down by banking and technology stocks. The banking sector declined despite better-than-expected earnings from Bank of America and Citigroup. However, JPMorgan warned of potential risks arising from proposed caps on credit card interest rates. Meanwhile, mixed inflation data and stronger-than-expected retail sales have solidified expectations that the Federal Reserve will remain cautious regarding rate cuts. Technology stocks also retreated following reports of China’s import restrictions on Nvidia’s advanced chips. We believe market sentiment will remain cautious in the near term, influenced by ongoing bank earnings and the need for greater clarity on Fed policy.
MY: Following the negative performance in the US, we anticipate some profit-taking on the local bourse after its recent extended rally. Nevertheless, we believe the support should be located above the 1,700 level. In terms of sectors, we expect the Utilities sector to remain a key focus in 2026 as the ongoing data centre boom will require vast amounts of water for server cooling, which could reignite buying interest in stocks such as RANHILL. Meanwhile, as data centre construction progresses, we believe the thematic focus may shift toward the M&E segment, benefiting stocks such as MNHLDG, POWERWELL, JTGROUP, and SCGBHD.
Stocks to watch:
Consumer: *AAX*, *BAUTO*, LAYHONG
Technology: *3REN*, *DUFU*, JHM, SNS
Utility: *YTL*, YTLPOWR
Automotive: EPMB
Finance: RCECAP
**Source: M+ Global**
Dragged by Bank Results and China Chip Restriction
US: Wall Street closed lower, dragged down by banking and technology stocks. The banking sector declined despite better-than-expected earnings from Bank of America and Citigroup. However, JPMorgan warned of potential risks arising from proposed caps on credit card interest rates. Meanwhile, mixed inflation data and stronger-than-expected retail sales have solidified expectations that the Federal Reserve will remain cautious regarding rate cuts. Technology stocks also retreated following reports of China’s import restrictions on Nvidia’s advanced chips. We believe market sentiment will remain cautious in the near term, influenced by ongoing bank earnings and the need for greater clarity on Fed policy.
MY: Following the negative performance in the US, we anticipate some profit-taking on the local bourse after its recent extended rally. Nevertheless, we believe the support should be located above the 1,700 level. In terms of sectors, we expect the Utilities sector to remain a key focus in 2026 as the ongoing data centre boom will require vast amounts of water for server cooling, which could reignite buying interest in stocks such as RANHILL. Meanwhile, as data centre construction progresses, we believe the thematic focus may shift toward the M&E segment, benefiting stocks such as MNHLDG, POWERWELL, JTGROUP, and SCGBHD.
Stocks to watch:
Consumer: *AAX*, *BAUTO*, LAYHONG
Technology: *3REN*, *DUFU*, JHM, SNS
Utility: *YTL*, YTLPOWR
Automotive: EPMB
Finance: RCECAP
**Source: M+ Global**
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Good Morning All,
We issued a technical buy call on 3REN Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Beneficiary of Intel-led advanced packaging demand
(ii) Fundamentals remain intact
(iii) Positive industry outlook
Research Team, M+
15 January 2026
We issued a technical buy call on 3REN Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Beneficiary of Intel-led advanced packaging demand
(ii) Fundamentals remain intact
(iii) Positive industry outlook
Research Team, M+
15 January 2026
M+ Global Market Wrap - 15Jan26
FBM KLCI: 1,712.85 pts (+1.94pts, +0.11%)
The FBMKLCI (+0.25%) extended its gains for the fifth consecutive day, buoyed by gains in banking heavyweights such as PBBANK (+8.0 sen) and HLBANK (+52.0 sen). However, market breadth was relatively soft, with 582 losers outpacing 503 winners. In the broader market, Technology (+1.91%) outperformed following TSMC’s stellar Q4 performance, while Healthcare (-0.99%) ended the day as the worst-performing sector.
Top 3 Active stocks:
VS (6963): RM0.480 (-0.5 sen)
CAPITALA (5099): RM0.530 (-1.5 sen)
TANCO (2429): RM1.240 (+1.0 sen)
Volume: 3.25 bn (100-bar avg vol: 3.30 bn)
Value: RM3.32 bn (100-bar avg val: RM2.73 bn)
Market Breadth: ⬆️503⬇️582
Crude Palm Oil: RM4,040 (-RM41, -1.01%)
Dow Futures: 49,331 pts (-25 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,712.85 pts (+1.94pts, +0.11%)
The FBMKLCI (+0.25%) extended its gains for the fifth consecutive day, buoyed by gains in banking heavyweights such as PBBANK (+8.0 sen) and HLBANK (+52.0 sen). However, market breadth was relatively soft, with 582 losers outpacing 503 winners. In the broader market, Technology (+1.91%) outperformed following TSMC’s stellar Q4 performance, while Healthcare (-0.99%) ended the day as the worst-performing sector.
Top 3 Active stocks:
VS (6963): RM0.480 (-0.5 sen)
CAPITALA (5099): RM0.530 (-1.5 sen)
TANCO (2429): RM1.240 (+1.0 sen)
Volume: 3.25 bn (100-bar avg vol: 3.30 bn)
Value: RM3.32 bn (100-bar avg val: RM2.73 bn)
Market Breadth: ⬆️503⬇️582
Crude Palm Oil: RM4,040 (-RM41, -1.01%)
Dow Futures: 49,331 pts (-25 pts)
**Source: M+ Global, Bloomberg **
😁2
M+ Morning Market Buzz - 16Jan26
Dow Jones: 49,442.44 pts (+292.81pts, +0.60%)
⬆️ Resistance: 50700
⬇️ Support: 47900
FBM KLCI: 1,715.16 pts (+4.25pts, +0.25%)
⬆️ Resistance: 1750
⬇️ Support: 1640
HSI Index: 26,923.62 pts (-76.19pts, -0.28%)
⬆️ Resistance: 27800
⬇️ Support: 25600
Crude Palm Oil: RM3,990 (+RM64, +1.60%)
⬆️ Resistance: 4230
⬇️ Support: 3900
Brent Oil: $63.76 (-$2.76, -4.15%)
⬆️ Resistance: 68.20
⬇️ Support: 60.60
Gold: $4,616.15 (-$7.84, -0.08%)
⬆️ Resistance: 4740
⬇️ Support: 4370
Source: Bloomberg, M+ Global
Dow Jones: 49,442.44 pts (+292.81pts, +0.60%)
⬆️ Resistance: 50700
⬇️ Support: 47900
FBM KLCI: 1,715.16 pts (+4.25pts, +0.25%)
⬆️ Resistance: 1750
⬇️ Support: 1640
HSI Index: 26,923.62 pts (-76.19pts, -0.28%)
⬆️ Resistance: 27800
⬇️ Support: 25600
Crude Palm Oil: RM3,990 (+RM64, +1.60%)
⬆️ Resistance: 4230
⬇️ Support: 3900
Brent Oil: $63.76 (-$2.76, -4.15%)
⬆️ Resistance: 68.20
⬇️ Support: 60.60
Gold: $4,616.15 (-$7.84, -0.08%)
⬆️ Resistance: 4740
⬇️ Support: 4370
Source: Bloomberg, M+ Global
😁2
M+ Global Market Update – 16Jan26
Wall Street Rebounded on Chips Rally
US: Wall Street rebounded on Thursday as sentiment was boosted by the AI-driven demand highlighted in TSMC’s strong fourth-quarter results. The upward momentum was further supported by President Trump’s statement that there were no plans to remove Federal Reserve Chair, whilst softer jobless claims reinforced expectations of steady Fed policy in the near term. However, the upside was partially capped by weakness in crypto-related stocks and a pullback in oil prices. We believe market focus will rotate back towards AI-related stocks, potentially benefitting TSMC’s key customers such as Nvidia, AMD, Apple, Broadcom, and Google.
MY: The broadly positive buying support from Wall Street may spill over to the local front. Meanwhile, we believe the Bursa Technology sector will be in focus in the near term, following TSMC’s fourth-quarter results, benefiting several names like: (i) FRONTKN, which provides specialised cleaning and surface treatment services for TSMC’s chip production equipment; and (ii) INARI, which has strong exposure to Broadcom (a key TSMC customer) and stands to gain from higher testing and packaging demand. Furthermore, as TSMC’s CoWoS capacity remains tight, Intel is seeing strong demand for its advanced packaging solutions, potentially benefitting UWC, KOBAY, and 3REN.
Stocks to watch:
Technology: *CORAZA*, *SNS*, *UNISEM*, VITROX
Utility: TENAGA, *YTL*, YTLPOWR
Consumer: *LAYHONG*, *TCHONG*
Property: ECOWLD
**Source: M+ Global**
Wall Street Rebounded on Chips Rally
US: Wall Street rebounded on Thursday as sentiment was boosted by the AI-driven demand highlighted in TSMC’s strong fourth-quarter results. The upward momentum was further supported by President Trump’s statement that there were no plans to remove Federal Reserve Chair, whilst softer jobless claims reinforced expectations of steady Fed policy in the near term. However, the upside was partially capped by weakness in crypto-related stocks and a pullback in oil prices. We believe market focus will rotate back towards AI-related stocks, potentially benefitting TSMC’s key customers such as Nvidia, AMD, Apple, Broadcom, and Google.
MY: The broadly positive buying support from Wall Street may spill over to the local front. Meanwhile, we believe the Bursa Technology sector will be in focus in the near term, following TSMC’s fourth-quarter results, benefiting several names like: (i) FRONTKN, which provides specialised cleaning and surface treatment services for TSMC’s chip production equipment; and (ii) INARI, which has strong exposure to Broadcom (a key TSMC customer) and stands to gain from higher testing and packaging demand. Furthermore, as TSMC’s CoWoS capacity remains tight, Intel is seeing strong demand for its advanced packaging solutions, potentially benefitting UWC, KOBAY, and 3REN.
Stocks to watch:
Technology: *CORAZA*, *SNS*, *UNISEM*, VITROX
Utility: TENAGA, *YTL*, YTLPOWR
Consumer: *LAYHONG*, *TCHONG*
Property: ECOWLD
**Source: M+ Global**
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M+ Global Market Wrap - 16Jan26
FBM KLCI: 1,712.74 pts (-2.42pts, -0.14%)
Following a five-day winning streak, key heavyweights such as KLK (-54.0 sen) and IHH (-5.0 sen) experienced profit-taking activities, which dragged the FBMKLCI (-0.14%) down to 1,712.74 pts. Market breadth remained negative, with 564 losers versus 482 winners. Sector-wise, Technology (+0.89%) continued to outperform following TSMC’s stellar 4Q performance, driven by gains in VITROX (+10.0 sen) and MPI (+78.0 sen), while Plantation (-0.97%) emerged as the worst-performing sector.
Top 3 Active stocks:
ZETRIX (0138): RM0.815 (-1.0 sen)
CAPITALA (5099): RM0.545 (+1.5 sen)
TANCO (2429): RM1.250 (+1.0 sen)
Volume: 3.09 bn (100-bar avg vol: 3.30 bn)
Value: RM3.09 bn (100-bar avg val: RM2.74 bn)
Market Breadth: ⬆️482⬇️564
Crude Palm Oil: RM3,990 (+RM73, +1.83%)
Dow Futures: 49,691 pts (+52 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,712.74 pts (-2.42pts, -0.14%)
Following a five-day winning streak, key heavyweights such as KLK (-54.0 sen) and IHH (-5.0 sen) experienced profit-taking activities, which dragged the FBMKLCI (-0.14%) down to 1,712.74 pts. Market breadth remained negative, with 564 losers versus 482 winners. Sector-wise, Technology (+0.89%) continued to outperform following TSMC’s stellar 4Q performance, driven by gains in VITROX (+10.0 sen) and MPI (+78.0 sen), while Plantation (-0.97%) emerged as the worst-performing sector.
Top 3 Active stocks:
ZETRIX (0138): RM0.815 (-1.0 sen)
CAPITALA (5099): RM0.545 (+1.5 sen)
TANCO (2429): RM1.250 (+1.0 sen)
Volume: 3.09 bn (100-bar avg vol: 3.30 bn)
Value: RM3.09 bn (100-bar avg val: RM2.74 bn)
Market Breadth: ⬆️482⬇️564
Crude Palm Oil: RM3,990 (+RM73, +1.83%)
Dow Futures: 49,691 pts (+52 pts)
**Source: M+ Global, Bloomberg **
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M+ Morning Market Buzz - 19Jan26
Dow Jones: 49,359.33 pts (-83.11pts, -0.17%)
⬆️ Resistance: 50700
⬇️ Support: 47900
FBM KLCI: 1,712.74 pts (-2.42pts, -0.14%)
⬆️ Resistance: 1760
⬇️ Support: 1660
HSI Index: 26,844.96 pts (-78.66pts, -0.29%)
⬆️ Resistance: 27800
⬇️ Support: 25700
Crude Palm Oil: RM4,072 (+RM82, +2.06%)
⬆️ Resistance: 4230
⬇️ Support: 3900
Brent Oil: $64.13 (-$0.30, -0.47%)
⬆️ Resistance: 68.20
⬇️ Support: 61.60
Gold: $4,596.09 (+$79.59, +1.73%)
⬆️ Resistance: 4740
⬇️ Support: 4430
Source: Bloomberg, M+ Global
Dow Jones: 49,359.33 pts (-83.11pts, -0.17%)
⬆️ Resistance: 50700
⬇️ Support: 47900
FBM KLCI: 1,712.74 pts (-2.42pts, -0.14%)
⬆️ Resistance: 1760
⬇️ Support: 1660
HSI Index: 26,844.96 pts (-78.66pts, -0.29%)
⬆️ Resistance: 27800
⬇️ Support: 25700
Crude Palm Oil: RM4,072 (+RM82, +2.06%)
⬆️ Resistance: 4230
⬇️ Support: 3900
Brent Oil: $64.13 (-$0.30, -0.47%)
⬆️ Resistance: 68.20
⬇️ Support: 61.60
Gold: $4,596.09 (+$79.59, +1.73%)
⬆️ Resistance: 4740
⬇️ Support: 4430
Source: Bloomberg, M+ Global
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M+ Global Market Update – 19Jan26
Trump’s Tariffs Measures Back On Deck
US: Friday’s session saw Wall Street close marginally lower, as gains in technology stocks were unable to lift overall sentiment, despite TSMC’s stellar earnings. The recent progress on tariff measures by the Trump administration may push the VIX higher; however, we believe global markets may instead adopt a risk-tolerant stance, with gold potentially serving as a safety hedge rather than signalling a pure risk-off trade. Consequently, we believe this should create a natural demand for gold proxies such as Newmont Corporation, Barrick Gold Corporation, and SSR Mining. Moreover, we are observing healthy fund flows within the Healthcare sector amidst policy clarity regarding Most Favoured Nation (MFN) drug pricing.
MY: Closer to home, broadly negative selling pressure on Wall Street, coupled with Trump’s recently renewed tariff measures, may dampen local sentiment. However, healthy foreign fund inflows continue to support the FBM Small Cap Index. Hence, we believe a “pick-and-shovel” play is emerging within the DC value chain, particularly in M&E segment; MN Holdings may provide traders with exposure to the latter, especially given its recently secured contracts worth RM122.7m. Lastly, 99SMART may offer a more conservative stance, while WELLCHIP, EMCC, and PPJACK could provide exposure to a near-term positive expected move in gold.
Stocks to watch:
Technology: *CATCHA*, INFOM, *JHM*, VITROX
Automotive: *EPMB*, *TCHONG*
Consumer: ECOSHOP, SPRITZER
Building Material: PMBTECH, SCGBHD
Construction: *MNHLDG*
Property: *SIMEPROP*
Financial: RCECAP
**Source: M+ Global**
Trump’s Tariffs Measures Back On Deck
US: Friday’s session saw Wall Street close marginally lower, as gains in technology stocks were unable to lift overall sentiment, despite TSMC’s stellar earnings. The recent progress on tariff measures by the Trump administration may push the VIX higher; however, we believe global markets may instead adopt a risk-tolerant stance, with gold potentially serving as a safety hedge rather than signalling a pure risk-off trade. Consequently, we believe this should create a natural demand for gold proxies such as Newmont Corporation, Barrick Gold Corporation, and SSR Mining. Moreover, we are observing healthy fund flows within the Healthcare sector amidst policy clarity regarding Most Favoured Nation (MFN) drug pricing.
MY: Closer to home, broadly negative selling pressure on Wall Street, coupled with Trump’s recently renewed tariff measures, may dampen local sentiment. However, healthy foreign fund inflows continue to support the FBM Small Cap Index. Hence, we believe a “pick-and-shovel” play is emerging within the DC value chain, particularly in M&E segment; MN Holdings may provide traders with exposure to the latter, especially given its recently secured contracts worth RM122.7m. Lastly, 99SMART may offer a more conservative stance, while WELLCHIP, EMCC, and PPJACK could provide exposure to a near-term positive expected move in gold.
Stocks to watch:
Technology: *CATCHA*, INFOM, *JHM*, VITROX
Automotive: *EPMB*, *TCHONG*
Consumer: ECOSHOP, SPRITZER
Building Material: PMBTECH, SCGBHD
Construction: *MNHLDG*
Property: *SIMEPROP*
Financial: RCECAP
**Source: M+ Global**
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M+ Global Market Wrap - 19Jan26
FBM KLCI: 1,712.33 pts (-0.41pts, -0.02%)
The KLCI began the week marginally lower, as gains in Banking heavyweights were offset by declines in the Utilities sector. Overall, sentiment remained risk-tolerant, with indexes relatively stable and rebounded from its intraday low, while gold reached an all-time high despite renewed tariff tensions from the Trump administration. Market breadth tilted negatively, with losers outpacing gainers at 779-to-359, with most sectors concurrently negative. Construction fell the most, declining 1.64%, dragged down by IJM (-15.0 sen) amid renewed MACC investigations.
Top 3 Active stocks:
SMRT (0117): RM0.185 (-26.0 sen)
CAPITALA (5099): RM0.505 (-4.0 sen)
IJM (3336): RM2.650 (-15.0 sen)
Volume: 3.09 bn (100-bar avg vol: 3.31 bn)
Value: RM2.75 bn (100-bar avg val: RM2.74 bn)
Market Breadth: ⬆️482⬇️564
Crude Palm Oil: RM4,072 (+RM5, +0.12%)
Dow Futures: 49,235 pts (-312 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,712.33 pts (-0.41pts, -0.02%)
The KLCI began the week marginally lower, as gains in Banking heavyweights were offset by declines in the Utilities sector. Overall, sentiment remained risk-tolerant, with indexes relatively stable and rebounded from its intraday low, while gold reached an all-time high despite renewed tariff tensions from the Trump administration. Market breadth tilted negatively, with losers outpacing gainers at 779-to-359, with most sectors concurrently negative. Construction fell the most, declining 1.64%, dragged down by IJM (-15.0 sen) amid renewed MACC investigations.
Top 3 Active stocks:
SMRT (0117): RM0.185 (-26.0 sen)
CAPITALA (5099): RM0.505 (-4.0 sen)
IJM (3336): RM2.650 (-15.0 sen)
Volume: 3.09 bn (100-bar avg vol: 3.31 bn)
Value: RM2.75 bn (100-bar avg val: RM2.74 bn)
Market Breadth: ⬆️482⬇️564
Crude Palm Oil: RM4,072 (+RM5, +0.12%)
Dow Futures: 49,235 pts (-312 pts)
**Source: M+ Global, Bloomberg **
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M+ Global Market Update – 20Jan26
Gold Hits Another All-Time High
US: Wall Street was closed on Monday in observance of the Martin Luther King Jr. public holiday. Notably, gold reached an all-time high near the USD 4,690 zone. We interpret this as the market adopting a risk-tolerant stance, rather than viewing gold purely as a risk-off trade despite renewed tariff measures from the Trump administration. Although Wall Street futures traded lower, we believe this could present a buy-on-the-dip opportunity, especially within AI-related stocks following TSMC’s stellar earnings, which indicate robust demand across the AI value chain. Overall, gold remains a clear play, benefitting proxies such as Newmont, Barrick Mining, and SSR Mining.
MY: In view of Wall Street’s negative futures performance, we expect the KLCI to open on a weaker note. However, healthy foreign fund inflows should continue to support the FBM Small Cap. Notably, trading interest is beginning to accumulate in Inta Bina, with trading volume continuing to rise above the 20-day average; the company's sizeable order book and undemanding valuations further strengthen the investment case. Meanwhile, MN Holding’s recent project wins should also bolster the “pick-and-shovel” play, particularly within the data centre value chain. We believe CHEEDING, CBHB, MNHLDG, and UUE offer decent exposure to this segment.
Stocks to watch:
Technology: *CATCHA*, *SCICOM*, UNISEM
Consumer: AEON, *KOPI*, PETDAG
Construction: *INTA*
Automotive: *TCHONG*
Utility: RANHILL
**Source: M+ Global**
Gold Hits Another All-Time High
US: Wall Street was closed on Monday in observance of the Martin Luther King Jr. public holiday. Notably, gold reached an all-time high near the USD 4,690 zone. We interpret this as the market adopting a risk-tolerant stance, rather than viewing gold purely as a risk-off trade despite renewed tariff measures from the Trump administration. Although Wall Street futures traded lower, we believe this could present a buy-on-the-dip opportunity, especially within AI-related stocks following TSMC’s stellar earnings, which indicate robust demand across the AI value chain. Overall, gold remains a clear play, benefitting proxies such as Newmont, Barrick Mining, and SSR Mining.
MY: In view of Wall Street’s negative futures performance, we expect the KLCI to open on a weaker note. However, healthy foreign fund inflows should continue to support the FBM Small Cap. Notably, trading interest is beginning to accumulate in Inta Bina, with trading volume continuing to rise above the 20-day average; the company's sizeable order book and undemanding valuations further strengthen the investment case. Meanwhile, MN Holding’s recent project wins should also bolster the “pick-and-shovel” play, particularly within the data centre value chain. We believe CHEEDING, CBHB, MNHLDG, and UUE offer decent exposure to this segment.
Stocks to watch:
Technology: *CATCHA*, *SCICOM*, UNISEM
Consumer: AEON, *KOPI*, PETDAG
Construction: *INTA*
Automotive: *TCHONG*
Utility: RANHILL
**Source: M+ Global**
👏3
M+ Morning Market Buzz - 20Jan26
Dow Jones: 49,359.33 pts (-83.11pts, -0.17%)
⬆️ Resistance: 50700
⬇️ Support: 47900
FBM KLCI: 1,712.33 pts (-0.41pts, -0.02%)
⬆️ Resistance: 1760
⬇️ Support: 1670
HSI Index: 26,563.90 pts (-281.06pts, -1.05%)
⬆️ Resistance: 27800
⬇️ Support: 26100
Crude Palm Oil: RM4,067 (+RM26, +0.64%)
⬆️ Resistance: 4230
⬇️ Support: 3900
Brent Oil: $63.94 (+$0.16, +0.25%)
⬆️ Resistance: 68.20
⬇️ Support: 62.00
Gold: $4,670.89 (+$0.60, +0.01%)
⬆️ Resistance: 4790
⬇️ Support: 4450
Source: Bloomberg, M+ Global
Dow Jones: 49,359.33 pts (-83.11pts, -0.17%)
⬆️ Resistance: 50700
⬇️ Support: 47900
FBM KLCI: 1,712.33 pts (-0.41pts, -0.02%)
⬆️ Resistance: 1760
⬇️ Support: 1670
HSI Index: 26,563.90 pts (-281.06pts, -1.05%)
⬆️ Resistance: 27800
⬇️ Support: 26100
Crude Palm Oil: RM4,067 (+RM26, +0.64%)
⬆️ Resistance: 4230
⬇️ Support: 3900
Brent Oil: $63.94 (+$0.16, +0.25%)
⬆️ Resistance: 68.20
⬇️ Support: 62.00
Gold: $4,670.89 (+$0.60, +0.01%)
⬆️ Resistance: 4790
⬇️ Support: 4450
Source: Bloomberg, M+ Global
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M+ Global Market Wrap - 20Jan26
FBM KLCI: 1,705.78 pts (-13.27pts, -0.38%)
Tuesday’s session saw Banking heavyweights drag the KLCI down by 13 pts; the latter was due to lower operating income and unexpected credit losses, which weighed on CIMB’s Thai YoY profit. Sentiment tilted negatively as well, as losers continued to outpace gainers, with sectors concurrently negative. Even with gold hitting another all-time high, the latter proxies were seen trading negatively as well.
Top 3 Active stocks:
SBS (0386): RM0.240 (+1.0 sen)
ZETRIX (0138): RM0.805 (unch)
IJM (3336): RM2.570 (-8.0 sen)
Volume: 2.86 bn (100-bar avg vol: 3.31 bn)
Value: RM2.87 bn (100-bar avg val: RM2.74 bn)
Market Breadth: ⬆️296⬇️786
Crude Palm Oil: RM4,067 (+RM25, +0.39%)
Dow Futures: 48,835 pts (-712 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,705.78 pts (-13.27pts, -0.38%)
Tuesday’s session saw Banking heavyweights drag the KLCI down by 13 pts; the latter was due to lower operating income and unexpected credit losses, which weighed on CIMB’s Thai YoY profit. Sentiment tilted negatively as well, as losers continued to outpace gainers, with sectors concurrently negative. Even with gold hitting another all-time high, the latter proxies were seen trading negatively as well.
Top 3 Active stocks:
SBS (0386): RM0.240 (+1.0 sen)
ZETRIX (0138): RM0.805 (unch)
IJM (3336): RM2.570 (-8.0 sen)
Volume: 2.86 bn (100-bar avg vol: 3.31 bn)
Value: RM2.87 bn (100-bar avg val: RM2.74 bn)
Market Breadth: ⬆️296⬇️786
Crude Palm Oil: RM4,067 (+RM25, +0.39%)
Dow Futures: 48,835 pts (-712 pts)
**Source: M+ Global, Bloomberg **
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M+ Morning Market Buzz - 21Jan26
Dow Jones: 48,488.59 pts (-870.74pts, -1.76%)
⬆️ Resistance: 50700
⬇️ Support: 47500
FBM KLCI: 1,699.06 pts (-13.27pts, -0.77%)
⬆️ Resistance: 1760
⬇️ Support: 1670
HSI Index: 26,487.51 pts (-76.39pts, -0.29%)
⬆️ Resistance: 27800
⬇️ Support: 25900
Crude Palm Oil: RM4,094 (+RM29, +0.71%)
⬆️ Resistance: 4210
⬇️ Support: 3900
Brent Oil: $63.94 (+$0.08, +0.13%)
⬆️ Resistance: 68.20
⬇️ Support: 62.00
Gold: $4,763.43 (+$92.54, +1.98%)
⬆️ Resistance: 4870
⬇️ Support: 4450
Source: Bloomberg, M+ Global
Dow Jones: 48,488.59 pts (-870.74pts, -1.76%)
⬆️ Resistance: 50700
⬇️ Support: 47500
FBM KLCI: 1,699.06 pts (-13.27pts, -0.77%)
⬆️ Resistance: 1760
⬇️ Support: 1670
HSI Index: 26,487.51 pts (-76.39pts, -0.29%)
⬆️ Resistance: 27800
⬇️ Support: 25900
Crude Palm Oil: RM4,094 (+RM29, +0.71%)
⬆️ Resistance: 4210
⬇️ Support: 3900
Brent Oil: $63.94 (+$0.08, +0.13%)
⬆️ Resistance: 68.20
⬇️ Support: 62.00
Gold: $4,763.43 (+$92.54, +1.98%)
⬆️ Resistance: 4870
⬇️ Support: 4450
Source: Bloomberg, M+ Global
M+ Global Market Update – 21Jan26
Vix Spike Pushes Gold To New Heights
US: There was little progress towards de-escalating recent tariff measures; consequently, Wall Street closed on a weaker footing. Nevertheless, selected AI-related counters, such as Micron and AMD, managed to eke out marginal gains. We believe the magnitude of the pullback appears manageable, as the market is adopting a resilient stance, notably with gold reaching another all-time high. A weaker US Dollar should also support the precious metal in the near term. Therefore, we continue to favour mining companies like Newmont and Barrick. Furthermore, we believe Amazon provides a solid earnings play, as the company has consistently delivered above-consensus earnings over the last few quarters.
MY: In view of Wall Street’s lackluster overnight performance, we expect the local bourse to follow suit. However, we remain positive Athat a “pick-and-shovel” play is emerging within Data Centre (DC) value chains. Substations, along with underground and overhead utilities, are in the spotlight as project pipelines remain healthy—a fact reflected by MN Holdings’ recent project wins. Also, Mitrajaya is gaining traction through exposure to this sector, evidenced by further project additions from NEXTDC. Regarding pure construction plays, we observe that INTA’s trading volume is consistently exceeding its 20-day average.
Stocks to watch:
Consumer: *AEON*, AQUAWALK, *BAUTO*, *PADINI*
Property: *ECOWLD*
Utility: *RANHILL*
Technology: *INFOM*
Finance: RCECAP
Transportation: WPRTS
Construction: INTA
**Source: M+ Global**
Vix Spike Pushes Gold To New Heights
US: There was little progress towards de-escalating recent tariff measures; consequently, Wall Street closed on a weaker footing. Nevertheless, selected AI-related counters, such as Micron and AMD, managed to eke out marginal gains. We believe the magnitude of the pullback appears manageable, as the market is adopting a resilient stance, notably with gold reaching another all-time high. A weaker US Dollar should also support the precious metal in the near term. Therefore, we continue to favour mining companies like Newmont and Barrick. Furthermore, we believe Amazon provides a solid earnings play, as the company has consistently delivered above-consensus earnings over the last few quarters.
MY: In view of Wall Street’s lackluster overnight performance, we expect the local bourse to follow suit. However, we remain positive Athat a “pick-and-shovel” play is emerging within Data Centre (DC) value chains. Substations, along with underground and overhead utilities, are in the spotlight as project pipelines remain healthy—a fact reflected by MN Holdings’ recent project wins. Also, Mitrajaya is gaining traction through exposure to this sector, evidenced by further project additions from NEXTDC. Regarding pure construction plays, we observe that INTA’s trading volume is consistently exceeding its 20-day average.
Stocks to watch:
Consumer: *AEON*, AQUAWALK, *BAUTO*, *PADINI*
Property: *ECOWLD*
Utility: *RANHILL*
Technology: *INFOM*
Finance: RCECAP
Transportation: WPRTS
Construction: INTA
**Source: M+ Global**
M+ Global Market Wrap - 21Jan26
FBM KLCI: 1,705.81 pts (+6.75pts, +0.40%)
While there was little progress toward de-escalating the trade war, the KLCI bucked Wall Street’s lackluster overnight performance, with Industrial Products & Services heavyweights lifted the index by 7 points. Overall sentiment tilted positively as well, with gainers outpacing losers and sectors moving concurrently higher. Technology (+1.46%) outperformed, with GREATEC (+9.0 sen) and MI (+17.0 sen) leading the pack, while Construction (-1.27%) declined the most.
Top 3 Active stocks:
VELESTO (5243): RM0.290 (+1.0 sen)
ZETRIX (0138): RM0.815 (+1.0 sen)
PMETAL (8869): RM7.400 (+16.0 sen)
Volume: 2.94 bn (100-bar avg vol: 3.31 bn)
Value: RM3.14 bn (100-bar avg val: RM2.74 bn)
Market Breadth: ⬆️591⬇️443
Crude Palm Oil: RM4,094 (+RM55, +1.34%)
Dow Futures: 48,770 pts (+104 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,705.81 pts (+6.75pts, +0.40%)
While there was little progress toward de-escalating the trade war, the KLCI bucked Wall Street’s lackluster overnight performance, with Industrial Products & Services heavyweights lifted the index by 7 points. Overall sentiment tilted positively as well, with gainers outpacing losers and sectors moving concurrently higher. Technology (+1.46%) outperformed, with GREATEC (+9.0 sen) and MI (+17.0 sen) leading the pack, while Construction (-1.27%) declined the most.
Top 3 Active stocks:
VELESTO (5243): RM0.290 (+1.0 sen)
ZETRIX (0138): RM0.815 (+1.0 sen)
PMETAL (8869): RM7.400 (+16.0 sen)
Volume: 2.94 bn (100-bar avg vol: 3.31 bn)
Value: RM3.14 bn (100-bar avg val: RM2.74 bn)
Market Breadth: ⬆️591⬇️443
Crude Palm Oil: RM4,094 (+RM55, +1.34%)
Dow Futures: 48,770 pts (+104 pts)
**Source: M+ Global, Bloomberg **
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M+ Global Market Update – 22Jan26
Wall Street Tilted Positively
US: With progress towards de-escalating trade tensions, Wall Street closed on a firmer note. We view Amazon as a compelling earnings play, supported by its consistent above-consensus results over recent quarters. Meanwhile, hyperscalers’ capex is expected to rise further this year, an environment that should bode well for chipmakers such as Nvidia and AMD. High-bandwidth memory is also set to benefit, underpinned by ongoing supply constraints and major players maintaining memory prices at a premium. Lastly, elevated global uncertainty, alongside a lower real-yield environment, should continue to support gold prices; hence, we maintain a positive view on Newmont Corporation and SSR Mining.
MY: Closer to home, we believe buying interest may spillover to the local market, with the Technology sector continuing to sustain its momentum. Sizeable order books and attractive valuations should underpin resilient trading interest in construction players such as Binastra, Mitrajaya, and Inta Bina. Also, the latter’s project wins from Mitra reflect that project pipelines within the value chains remain robust. Hence, we view this as positive for the broader downstream value chain, particularly substations as well as underground and overhead utilities. In view of the elevated gold price, gold-related stocks may be in focus.
Stocks to watch:
Technology: CATCHA, *DUFU*, *MI*, *SCICOM*, *UNISEM*, VITROX
Consumer: AQUAWALK, *LWSABAH*
Automotive: BETA
Property: *ECOWLD*
Finance: RCECAP
**Source: M+ Global**
Wall Street Tilted Positively
US: With progress towards de-escalating trade tensions, Wall Street closed on a firmer note. We view Amazon as a compelling earnings play, supported by its consistent above-consensus results over recent quarters. Meanwhile, hyperscalers’ capex is expected to rise further this year, an environment that should bode well for chipmakers such as Nvidia and AMD. High-bandwidth memory is also set to benefit, underpinned by ongoing supply constraints and major players maintaining memory prices at a premium. Lastly, elevated global uncertainty, alongside a lower real-yield environment, should continue to support gold prices; hence, we maintain a positive view on Newmont Corporation and SSR Mining.
MY: Closer to home, we believe buying interest may spillover to the local market, with the Technology sector continuing to sustain its momentum. Sizeable order books and attractive valuations should underpin resilient trading interest in construction players such as Binastra, Mitrajaya, and Inta Bina. Also, the latter’s project wins from Mitra reflect that project pipelines within the value chains remain robust. Hence, we view this as positive for the broader downstream value chain, particularly substations as well as underground and overhead utilities. In view of the elevated gold price, gold-related stocks may be in focus.
Stocks to watch:
Technology: CATCHA, *DUFU*, *MI*, *SCICOM*, *UNISEM*, VITROX
Consumer: AQUAWALK, *LWSABAH*
Automotive: BETA
Property: *ECOWLD*
Finance: RCECAP
**Source: M+ Global**
M+ Morning Market Buzz - 22Jan26
Dow Jones: 49,077.23 pts (+588.64pts, +1.21%)
⬆️ Resistance: 50700
⬇️ Support: 47500
FBM KLCI: 1,705.81 pts (+6.75pts, +0.40%)
⬆️ Resistance: 1760
⬇️ Support: 1670
HSI Index: 26,585.06 pts (+97.55pts, +0.37%)
⬆️ Resistance: 27800
⬇️ Support: 25900
Crude Palm Oil: RM4,154 (+RM46, +1.11%)
⬆️ Resistance: 4250
⬇️ Support: 3900
Brent Oil: $65.24 (+$0.32, +0.49%)
⬆️ Resistance: 66.80
⬇️ Support: 62.00
Gold: $4,831.73 (-$41.32, -0.86%)
⬆️ Resistance: 4990
⬇️ Support: 4450
Source: Bloomberg, M+ Global
Dow Jones: 49,077.23 pts (+588.64pts, +1.21%)
⬆️ Resistance: 50700
⬇️ Support: 47500
FBM KLCI: 1,705.81 pts (+6.75pts, +0.40%)
⬆️ Resistance: 1760
⬇️ Support: 1670
HSI Index: 26,585.06 pts (+97.55pts, +0.37%)
⬆️ Resistance: 27800
⬇️ Support: 25900
Crude Palm Oil: RM4,154 (+RM46, +1.11%)
⬆️ Resistance: 4250
⬇️ Support: 3900
Brent Oil: $65.24 (+$0.32, +0.49%)
⬆️ Resistance: 66.80
⬇️ Support: 62.00
Gold: $4,831.73 (-$41.32, -0.86%)
⬆️ Resistance: 4990
⬇️ Support: 4450
Source: Bloomberg, M+ Global
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M+ Global Market Wrap - 22Jan26
FBM KLCI: 1,717.14 pts (+11.33pts, +0.66%)
Decent progress towards de-escalating Greenland’s trade tensions lifted overall sentiment in the global market, with resilient buying interest within Banking heavyweights lifted the KLCI index by 11 pts. Market breadth tilted positively, while overall sectors were concurrently positive as well. Construction (+1.15%) outperformed, the latter due to IJM’s reassurance on the ongoing MACC investigations.
Top 3 Active stocks:
VELESTO (5243): RM0.315 (+2.5 sen)
SMRT (0117): RM0.200 (+1.0 sen)
NATGATE (0270): RM1.190 (+19.0 sen)
Volume: 2.82 bn (100-bar avg vol: 3.29 bn)
Value: RM3.41 bn (100-bar avg val: RM2.74 bn)
Market Breadth: ⬆️622⬇️435
Crude Palm Oil: RM4,154 (+RM40, +0.96%)
Dow Futures: 49,453 pts (+188 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,717.14 pts (+11.33pts, +0.66%)
Decent progress towards de-escalating Greenland’s trade tensions lifted overall sentiment in the global market, with resilient buying interest within Banking heavyweights lifted the KLCI index by 11 pts. Market breadth tilted positively, while overall sectors were concurrently positive as well. Construction (+1.15%) outperformed, the latter due to IJM’s reassurance on the ongoing MACC investigations.
Top 3 Active stocks:
VELESTO (5243): RM0.315 (+2.5 sen)
SMRT (0117): RM0.200 (+1.0 sen)
NATGATE (0270): RM1.190 (+19.0 sen)
Volume: 2.82 bn (100-bar avg vol: 3.29 bn)
Value: RM3.41 bn (100-bar avg val: RM2.74 bn)
Market Breadth: ⬆️622⬇️435
Crude Palm Oil: RM4,154 (+RM40, +0.96%)
Dow Futures: 49,453 pts (+188 pts)
**Source: M+ Global, Bloomberg **
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M+ Global Market Update – 23Jan26
Risk-On Sentiment Persists
US: In view of the positive developments regarding the de-escalation of trade tensions, Wall Street ended the session on a stronger note. With strong AI demand following TSMC’s earnings, the outlook is promising for the memory players like SK Hynix, Samsung, and Micron Technology as it is a critical complement to chip infrastructure, as they are maintaining prices at a premium amidst supply constraints. According to guidance, CY26 inventory is reportedly fully sold out, while consensus estimates suggest Micron may deliver >200% EPS growth for the 1HFY26. On the commodities front, consensus believes gold could breach the USD 5,000 mark, placing Newmont, Barrick, and SSR Mining in a strong position to benefit
MY: With BNM keeping the OPR unchanged, the Ringgit has continued to strengthen, moving towards RM4.04/USD. We anticipate that the recent steady foreign inflows will persist, providing upside to the local market, particularly within the Banking sector. Moreover, ongoing pressure for additional easing cycles by the Fed should bolster the Ringgit. Thus, consumer heavyweights such as 99SMART, while serving also as a proxy for VMY2026 theme could also benefit from strong RM. Lastly, DC project pipelines remain intact, following contract wins by MN Holdings and Mitrajaya, may eventually translate positive earnings growth in the utility segment.
Stocks to watch:
Technology: *CORAZA*, *DUFU*, *JHM*, KGB, NATGATE, RAMSSOL
Plantation: *SOP*, TAANN
Utility: *RANHILL*
Finance: *RCECAP*
**Source: M+ Global**
Risk-On Sentiment Persists
US: In view of the positive developments regarding the de-escalation of trade tensions, Wall Street ended the session on a stronger note. With strong AI demand following TSMC’s earnings, the outlook is promising for the memory players like SK Hynix, Samsung, and Micron Technology as it is a critical complement to chip infrastructure, as they are maintaining prices at a premium amidst supply constraints. According to guidance, CY26 inventory is reportedly fully sold out, while consensus estimates suggest Micron may deliver >200% EPS growth for the 1HFY26. On the commodities front, consensus believes gold could breach the USD 5,000 mark, placing Newmont, Barrick, and SSR Mining in a strong position to benefit
MY: With BNM keeping the OPR unchanged, the Ringgit has continued to strengthen, moving towards RM4.04/USD. We anticipate that the recent steady foreign inflows will persist, providing upside to the local market, particularly within the Banking sector. Moreover, ongoing pressure for additional easing cycles by the Fed should bolster the Ringgit. Thus, consumer heavyweights such as 99SMART, while serving also as a proxy for VMY2026 theme could also benefit from strong RM. Lastly, DC project pipelines remain intact, following contract wins by MN Holdings and Mitrajaya, may eventually translate positive earnings growth in the utility segment.
Stocks to watch:
Technology: *CORAZA*, *DUFU*, *JHM*, KGB, NATGATE, RAMSSOL
Plantation: *SOP*, TAANN
Utility: *RANHILL*
Finance: *RCECAP*
**Source: M+ Global**
M+ Morning Market Buzz - 23Jan26
Dow Jones: 49,384.01 pts (+306.78pts, +0.63%)
⬆️ Resistance: 50700
⬇️ Support: 47500
FBM KLCI: 1,717.14 pts (+11.33pts, +0.66%)
⬆️ Resistance: 1760
⬇️ Support: 1670
HSI Index: 26,629.96 pts (+44.90pts, +0.17%)
⬆️ Resistance: 27800
⬇️ Support: 25900
Crude Palm Oil: RM4,197 (-RM19, -0.45%)
⬆️ Resistance: 4300
⬇️ Support: 3900
Brent Oil: $64.06 (-$1.18, -1.81%)
⬆️ Resistance: 66.80
⬇️ Support: 62.00
Gold: $4,936.02 (+$19.06, +0.39%)
⬆️ Resistance: 5040
⬇️ Support: 4450
Source: Bloomberg, M+ Global
Dow Jones: 49,384.01 pts (+306.78pts, +0.63%)
⬆️ Resistance: 50700
⬇️ Support: 47500
FBM KLCI: 1,717.14 pts (+11.33pts, +0.66%)
⬆️ Resistance: 1760
⬇️ Support: 1670
HSI Index: 26,629.96 pts (+44.90pts, +0.17%)
⬆️ Resistance: 27800
⬇️ Support: 25900
Crude Palm Oil: RM4,197 (-RM19, -0.45%)
⬆️ Resistance: 4300
⬇️ Support: 3900
Brent Oil: $64.06 (-$1.18, -1.81%)
⬆️ Resistance: 66.80
⬇️ Support: 62.00
Gold: $4,936.02 (+$19.06, +0.39%)
⬆️ Resistance: 5040
⬇️ Support: 4450
Source: Bloomberg, M+ Global
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