M+ Morning Market Buzz - 6Feb26
Dow Jones: 48,908.72 pts (-592.58pts, -1.20%)
⬆️ Resistance: 50700
⬇️ Support: 47500
FBM KLCI: 1,731.02 pts (-11.80pts, -0.68%)
⬆️ Resistance: 1800
⬇️ Support: 1700
HSI Index: 26,885.24 pts (+37.92pts, +0.14%)
⬆️ Resistance: 28500
⬇️ Support: 25900
Crude Palm Oil: RM4,206 (-RM4, -0.10%)
⬆️ Resistance: 4430
⬇️ Support: 4090
Brent Oil: $69.46 (-$2.16, -3.11%)
⬆️ Resistance: 72.40
⬇️ Support: 63.90
Gold: $4,964.93 (-$200.99, -4.05%)
⬆️ Resistance: 5570
⬇️ Support: 4320
Source: Bloomberg, M+ Global
Dow Jones: 48,908.72 pts (-592.58pts, -1.20%)
⬆️ Resistance: 50700
⬇️ Support: 47500
FBM KLCI: 1,731.02 pts (-11.80pts, -0.68%)
⬆️ Resistance: 1800
⬇️ Support: 1700
HSI Index: 26,885.24 pts (+37.92pts, +0.14%)
⬆️ Resistance: 28500
⬇️ Support: 25900
Crude Palm Oil: RM4,206 (-RM4, -0.10%)
⬆️ Resistance: 4430
⬇️ Support: 4090
Brent Oil: $69.46 (-$2.16, -3.11%)
⬆️ Resistance: 72.40
⬇️ Support: 63.90
Gold: $4,964.93 (-$200.99, -4.05%)
⬆️ Resistance: 5570
⬇️ Support: 4320
Source: Bloomberg, M+ Global
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M+ Global Market Update – 06Feb26
Tech Stock Rout; Risk-Off Sentiment Intensified
US: Risk-off sentiment persisted regarding the artificial intelligence theme, despite several technology stocks posting earnings beats earlier on. Post-market, Alphabet released stronger-than-expected results, while Amazon’s earnings were weaker than anticipated; both stocks traded lower in after-hours sessions. We believe the heavy tech sell-off stems from valuation re-ratings and concerns over Anthropic’s new automation tools, which may disrupt software providers. Whilst strong earnings suggest resilient AI prospects, long-term returns depend on whether tech giants can deliver a healthy ROIC to justify their massive capital expenditure.
MY: Closer to home, we expect the local bourse to continue mirroring the prevailing sentiment on Wall Street. However, healthy bargain-hunting activities should resurface within the Banking and REIT sectors. We understand that the US–MY interest rate differential outlook may support the ringgit-strengthening narrative, while decent prospective dividend yields are expected to provide a buffer against near-term volatility. in view of the stronger ringgit environment, consumer stocks, particularly within the poultry sector, are in a "sweet spot" to benefit; investors are therefore advised to accumulate positions ahead of their results this month.
Stocks to watch:
REIT: IGBREIT, *PAVREIT*
Poultry: *CAB*, MFLOUR
Plantation: JTIASA, *TSH*
Property: *IOIPG*
Finance: *AMBANK*
Automotive: *MBMR*
Property: ECOWLD
**Source: M+ Global**
Tech Stock Rout; Risk-Off Sentiment Intensified
US: Risk-off sentiment persisted regarding the artificial intelligence theme, despite several technology stocks posting earnings beats earlier on. Post-market, Alphabet released stronger-than-expected results, while Amazon’s earnings were weaker than anticipated; both stocks traded lower in after-hours sessions. We believe the heavy tech sell-off stems from valuation re-ratings and concerns over Anthropic’s new automation tools, which may disrupt software providers. Whilst strong earnings suggest resilient AI prospects, long-term returns depend on whether tech giants can deliver a healthy ROIC to justify their massive capital expenditure.
MY: Closer to home, we expect the local bourse to continue mirroring the prevailing sentiment on Wall Street. However, healthy bargain-hunting activities should resurface within the Banking and REIT sectors. We understand that the US–MY interest rate differential outlook may support the ringgit-strengthening narrative, while decent prospective dividend yields are expected to provide a buffer against near-term volatility. in view of the stronger ringgit environment, consumer stocks, particularly within the poultry sector, are in a "sweet spot" to benefit; investors are therefore advised to accumulate positions ahead of their results this month.
Stocks to watch:
REIT: IGBREIT, *PAVREIT*
Poultry: *CAB*, MFLOUR
Plantation: JTIASA, *TSH*
Property: *IOIPG*
Finance: *AMBANK*
Automotive: *MBMR*
Property: ECOWLD
**Source: M+ Global**
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Good Morning All,
We issued a technical buy call on TSH Resources Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Organic growth via younger age trees
(ii) Aggressive shares buyback by the management
(iii) Solid fundamentals with undemanding valuations
Research Team, M+
6 February 2026
We issued a technical buy call on TSH Resources Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Organic growth via younger age trees
(ii) Aggressive shares buyback by the management
(iii) Solid fundamentals with undemanding valuations
Research Team, M+
6 February 2026
M+ Global Market Wrap - 6Feb26
FBM KLCI: 1,732.83 pts (+1.81pts, +0.10%)
Friday’s session saw the local bourse bucked Wall Street’s lacklustre overnight performance, with Banking heavyweights lifted the sentiment. Overall momentum remains muted, as bears continue to outpace bulls at a 2-to-1 ratio, while most sectors were concurrently negative as well. Construction (+0.35%) outperformed, with GAMUDA (+7.0 sen) and SUNCON (+9.0 sen) leading the pack, while selling pressure within Technology stocks intensified..
Top 3 Active stocks:
ZETRIX (0138): RM0.685 (-1.0 sen)
AMBEST (0391): RM0.345 (+9.5 sen)
TANCO (2429): RM1.330 (-1.0 sen)
Volume: 3.02 bn (100-bar avg vol: 3.35 bn)
Value: RM3.10 bn (100-bar avg val: RM2.81 bn)
Market Breadth: ⬆️408⬇️683
Crude Palm Oil: RM4,206 (-RM42, -1.00%)
Dow Futures: 49,005 pts (+7 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,732.83 pts (+1.81pts, +0.10%)
Friday’s session saw the local bourse bucked Wall Street’s lacklustre overnight performance, with Banking heavyweights lifted the sentiment. Overall momentum remains muted, as bears continue to outpace bulls at a 2-to-1 ratio, while most sectors were concurrently negative as well. Construction (+0.35%) outperformed, with GAMUDA (+7.0 sen) and SUNCON (+9.0 sen) leading the pack, while selling pressure within Technology stocks intensified..
Top 3 Active stocks:
ZETRIX (0138): RM0.685 (-1.0 sen)
AMBEST (0391): RM0.345 (+9.5 sen)
TANCO (2429): RM1.330 (-1.0 sen)
Volume: 3.02 bn (100-bar avg vol: 3.35 bn)
Value: RM3.10 bn (100-bar avg val: RM2.81 bn)
Market Breadth: ⬆️408⬇️683
Crude Palm Oil: RM4,206 (-RM42, -1.00%)
Dow Futures: 49,005 pts (+7 pts)
**Source: M+ Global, Bloomberg **
M+ Global Market Update – 09Feb26
Dow Hits Historic 50,000 Milestone
US: With US index futures trading higher, we expect Wall Street to extend its bullish momentum. Meanwhile, as Nvidia CEO Jensen Huang mentioned that the AI build-out will take another 7–8 years, we believe this justifies the massive capex by tech giants. Furthermore, the approved H200 exports to China will act as a re-rating catalyst for the AI leader. Thus, despite Amazon’s plunge following higher-than-expected capex (2026 guidance of USD 200bn vs estimates of ~USD 146.1bn), we view this drop as a ‘buy-on-the-dip’ opportunity. In fact, Amazon’s 4Q25 AWS cloud business saw revenue jump 24% YoY to USD 35.6bn, while profit increased from USD 10.6bn to USD 12.5bn, justifying the company’s AI ambitions.
MY: Tracking Wall Street’s positive performance on Friday, we anticipate the FBM KLCI will kick-start the week on a bullish note. Meanwhile, with a stronger MYR, we believe sentiment will continue to bode well for the poultry sector. We favour laggards such as Teo Seng and CAB Cakaran following the rally in Leong Hup. Lastly, following the decline in AAX’s share price, traders should monitor it for opportunities, as AAX is expected to benefit from: (i) the completion of a mega-restructuring with Capital A to consolidate both long-haul and short-haul flights; (ii) the A321LR fleet expansion plan; and (iii) the resumption of legacy routes to London and Bahrain.
Stocks to watch:
Finance: *ABMB*, AMBANK, PBBANK
Automotive: *BETA*
Construction: *GAMUDA*
Transportation: *WPRTS*
Building Material: *MCEMENT*
Consumer: LWSABAH
Technology: MCLEAN
REIT: SUNREIT
Utility: YTLPOWR
**Source: M+ Global**
Dow Hits Historic 50,000 Milestone
US: With US index futures trading higher, we expect Wall Street to extend its bullish momentum. Meanwhile, as Nvidia CEO Jensen Huang mentioned that the AI build-out will take another 7–8 years, we believe this justifies the massive capex by tech giants. Furthermore, the approved H200 exports to China will act as a re-rating catalyst for the AI leader. Thus, despite Amazon’s plunge following higher-than-expected capex (2026 guidance of USD 200bn vs estimates of ~USD 146.1bn), we view this drop as a ‘buy-on-the-dip’ opportunity. In fact, Amazon’s 4Q25 AWS cloud business saw revenue jump 24% YoY to USD 35.6bn, while profit increased from USD 10.6bn to USD 12.5bn, justifying the company’s AI ambitions.
MY: Tracking Wall Street’s positive performance on Friday, we anticipate the FBM KLCI will kick-start the week on a bullish note. Meanwhile, with a stronger MYR, we believe sentiment will continue to bode well for the poultry sector. We favour laggards such as Teo Seng and CAB Cakaran following the rally in Leong Hup. Lastly, following the decline in AAX’s share price, traders should monitor it for opportunities, as AAX is expected to benefit from: (i) the completion of a mega-restructuring with Capital A to consolidate both long-haul and short-haul flights; (ii) the A321LR fleet expansion plan; and (iii) the resumption of legacy routes to London and Bahrain.
Stocks to watch:
Finance: *ABMB*, AMBANK, PBBANK
Automotive: *BETA*
Construction: *GAMUDA*
Transportation: *WPRTS*
Building Material: *MCEMENT*
Consumer: LWSABAH
Technology: MCLEAN
REIT: SUNREIT
Utility: YTLPOWR
**Source: M+ Global**
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M+ Morning Market Buzz - 9Feb26
Dow Jones: 50,115.67 pts (+1206.95pts, +2.47%)
⬆ Resistance: 51200
⬇ Support: 47800
FBM KLCI: 1,732.83 pts (+1.81pts, +0.10%)
⬆ Resistance: 1800
⬇ Support: 1690
HSI Index: 26,559.95 pts (-325.29pts, -1.21%)
⬆ Resistance: 27700
⬇ Support: 25800
Crude Palm Oil: RM4,154 (-RM52, -1.24%)
⬆ Resistance: 4350
⬇ Support: 4070
Brent Oil: $68.05 (-$0.68, -1.00%)
⬆ Resistance: 71.20
⬇ Support: 63.90
Gold: $4,964.36 (+$64.60, +1.30%)
⬆ Resistance: 5200
⬇ Support: 4320
Source: Bloomberg, M+ Global
Dow Jones: 50,115.67 pts (+1206.95pts, +2.47%)
⬆ Resistance: 51200
⬇ Support: 47800
FBM KLCI: 1,732.83 pts (+1.81pts, +0.10%)
⬆ Resistance: 1800
⬇ Support: 1690
HSI Index: 26,559.95 pts (-325.29pts, -1.21%)
⬆ Resistance: 27700
⬇ Support: 25800
Crude Palm Oil: RM4,154 (-RM52, -1.24%)
⬆ Resistance: 4350
⬇ Support: 4070
Brent Oil: $68.05 (-$0.68, -1.00%)
⬆ Resistance: 71.20
⬇ Support: 63.90
Gold: $4,964.36 (+$64.60, +1.30%)
⬆ Resistance: 5200
⬇ Support: 4320
Source: Bloomberg, M+ Global
😁2
Good Morning All,
We issued a company update report on our coverage stock AWC Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
AWC Berhad announced that its Environment Division, through subsidiaries under Stream Group Sdn Bhd namely Stream Environment Sdn Bhd (SEMY) and Stream Environment (S) Pte Ltd (SESG), has secured three automated pneumatic waste collection system (AWCS) projects across Malaysia and Singapore, with a combined contract value of RM26.6m. The projects involve the design, build and operation of AWCS and were awarded on 14 January 2026, 5 February 2026 and 6 February 2026 respectively. The projects are expected to commence from January 2026 and be completed by August 2029. With these wins, cumulative major contract wins in FY26 now stand at ~RM450m, providing improved earnings visibility.
Upgraded to BUY with a TP of RM0.66. As the share price has declined ahead of the company’s announcement, we upgraded our recommendation from Hold to Buy for AWC with an unchanged TP of RM0.66. The target price is derived based on a P/E ratio of 10.0x pegged to mid-FY27f fully-diluted EPS of 6.58 sen.
Research Team, M+
9 February 2026
We issued a company update report on our coverage stock AWC Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
AWC Berhad announced that its Environment Division, through subsidiaries under Stream Group Sdn Bhd namely Stream Environment Sdn Bhd (SEMY) and Stream Environment (S) Pte Ltd (SESG), has secured three automated pneumatic waste collection system (AWCS) projects across Malaysia and Singapore, with a combined contract value of RM26.6m. The projects involve the design, build and operation of AWCS and were awarded on 14 January 2026, 5 February 2026 and 6 February 2026 respectively. The projects are expected to commence from January 2026 and be completed by August 2029. With these wins, cumulative major contract wins in FY26 now stand at ~RM450m, providing improved earnings visibility.
Upgraded to BUY with a TP of RM0.66. As the share price has declined ahead of the company’s announcement, we upgraded our recommendation from Hold to Buy for AWC with an unchanged TP of RM0.66. The target price is derived based on a P/E ratio of 10.0x pegged to mid-FY27f fully-diluted EPS of 6.58 sen.
Research Team, M+
9 February 2026
M+ Global Market Wrap - 9Feb26
FBM KLCI: 1,751.30 pts (+18.47pts, +1.07%)
Tracking Wall Street’s positive performance last Friday, the FBMKLCI (+1.07%) kickstarted the week higher at 1,751.30 pts, led by gains in PBBANK (+11.0 sen) and 99SMART (+19.0 sen), with the latter was underpinned by the SARA cash disbursement today. The resounding win for current Japanese Prime Minister Sanae Takaichi also further boosted sentiment for Asian markets. Market breadth turned positive, with 797 winners outpacing 355 losers. Sector-wise, 11 out of 13 sectors ended in positive territory, with Technology (+3.70%) closing above the 3% mark, buoyed by gains in ZETRIX (+12.0 sen) and VITROX (+16.0 sen).
Top 3 Active stocks:
ZETRIX (0138): RM0.805 (+12.0 sen)
MMAG (0034): RM0.045 (-0.5 sen)
TANCO (2429): RM1.360 (+3.0 sen)
Volume: 3.12 bn (100-bar avg vol: 3.36 bn)
Value: RM2.90 bn (100-bar avg val: RM2.82 bn)
Market Breadth: ⬆️797⬇️355
Crude Palm Oil: RM4,154 (+RM22, +0.53%)
Dow Futures: 50,293 pts (+88 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,751.30 pts (+18.47pts, +1.07%)
Tracking Wall Street’s positive performance last Friday, the FBMKLCI (+1.07%) kickstarted the week higher at 1,751.30 pts, led by gains in PBBANK (+11.0 sen) and 99SMART (+19.0 sen), with the latter was underpinned by the SARA cash disbursement today. The resounding win for current Japanese Prime Minister Sanae Takaichi also further boosted sentiment for Asian markets. Market breadth turned positive, with 797 winners outpacing 355 losers. Sector-wise, 11 out of 13 sectors ended in positive territory, with Technology (+3.70%) closing above the 3% mark, buoyed by gains in ZETRIX (+12.0 sen) and VITROX (+16.0 sen).
Top 3 Active stocks:
ZETRIX (0138): RM0.805 (+12.0 sen)
MMAG (0034): RM0.045 (-0.5 sen)
TANCO (2429): RM1.360 (+3.0 sen)
Volume: 3.12 bn (100-bar avg vol: 3.36 bn)
Value: RM2.90 bn (100-bar avg val: RM2.82 bn)
Market Breadth: ⬆️797⬇️355
Crude Palm Oil: RM4,154 (+RM22, +0.53%)
Dow Futures: 50,293 pts (+88 pts)
**Source: M+ Global, Bloomberg **
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M+ Morning Market Buzz - 10Feb26
Dow Jones: 50,135.87 pts (+20.20pts, +0.04%)
⬆️ Resistance: 51300
⬇️ Support: 47900
FBM KLCI: 1,751.30 pts (+18.47pts, +1.07%)
⬆️ Resistance: 1800
⬇️ Support: 1690
HSI Index: 27,027.16 pts (+467.21pts, +1.76%)
⬆️ Resistance: 27700
⬇️ Support: 25800
Crude Palm Oil: RM4,160 (-RM5, -0.12%)
⬆️ Resistance: 4350
⬇️ Support: 4070
Brent Oil: $68.05 (+$0.99, +1.60%)
⬆️ Resistance: 71.20
⬇️ Support: 63.90
Gold: $5,057.80 (+$5.34, +0.32%)
⬆️ Resistance: 5200
⬇️ Support: 4570
Source: Bloomberg, M+ Global
Dow Jones: 50,135.87 pts (+20.20pts, +0.04%)
⬆️ Resistance: 51300
⬇️ Support: 47900
FBM KLCI: 1,751.30 pts (+18.47pts, +1.07%)
⬆️ Resistance: 1800
⬇️ Support: 1690
HSI Index: 27,027.16 pts (+467.21pts, +1.76%)
⬆️ Resistance: 27700
⬇️ Support: 25800
Crude Palm Oil: RM4,160 (-RM5, -0.12%)
⬆️ Resistance: 4350
⬇️ Support: 4070
Brent Oil: $68.05 (+$0.99, +1.60%)
⬆️ Resistance: 71.20
⬇️ Support: 63.90
Gold: $5,057.80 (+$5.34, +0.32%)
⬆️ Resistance: 5200
⬇️ Support: 4570
Source: Bloomberg, M+ Global
😁2
M+ Global Market Update – 10Feb26
Bargain Hunting On Technology Stocks Persisted
US: Despite concerns regarding massive AI capex, Nvidia and TSMC continued to rise yesterday. We believe the market has validated the planned AI capex following Nvidia CEO Jensen Huang’s projection of a 7–8 year AI buildout, alongside sustained cloud business growth demonstrated by major tech giants. Meanwhile, we suggest investors to accumulate shares of cybersecurity provider Fortinet, given its stellar 4Q25 results and the company’s strategic shift from hardware (firewalls) to higher-margin software and cloud services, specifically Unified SASE (Secure Access Service Edge). Lastly, with the rebound in gold prices, traders might consider repositioning into Newmont Corporation, Barrick Gold, and Agnico Eagle.
MY: Following Wall Street’s movement, we expect the positive sentiment to spillover toward the local front. A new 52-week high was observed in 99SMART as the country commenced its SARA cash distribution yesterday, which could benefit the laggards like MRDIY and ECOSHOP. Meanwhile, we view the recent breakout in PESONA favourably, underpinned by: (i) 9MFY25 results exceeding the full FY24 figures, (ii) property ventures yielding higher margins, and (iii) an order book of RM2.5bn ensuring earnings visibility. Besides, we favour the rebound in CBHB, supported by the data centre pipeline and the group’s outstanding order book of RM530.5m.
Stocks to watch:
Consumer: CAB, CKI, *MFLOUR*, *TOPMIX*
Technology: *SCICOM*
Automotive: *BAUTO*
Construction: *LSH*
Building Material: *MCEMENT*
Telco: TIMECOM
Transportation: WPRTS
**Source: M+ Global**
Bargain Hunting On Technology Stocks Persisted
US: Despite concerns regarding massive AI capex, Nvidia and TSMC continued to rise yesterday. We believe the market has validated the planned AI capex following Nvidia CEO Jensen Huang’s projection of a 7–8 year AI buildout, alongside sustained cloud business growth demonstrated by major tech giants. Meanwhile, we suggest investors to accumulate shares of cybersecurity provider Fortinet, given its stellar 4Q25 results and the company’s strategic shift from hardware (firewalls) to higher-margin software and cloud services, specifically Unified SASE (Secure Access Service Edge). Lastly, with the rebound in gold prices, traders might consider repositioning into Newmont Corporation, Barrick Gold, and Agnico Eagle.
MY: Following Wall Street’s movement, we expect the positive sentiment to spillover toward the local front. A new 52-week high was observed in 99SMART as the country commenced its SARA cash distribution yesterday, which could benefit the laggards like MRDIY and ECOSHOP. Meanwhile, we view the recent breakout in PESONA favourably, underpinned by: (i) 9MFY25 results exceeding the full FY24 figures, (ii) property ventures yielding higher margins, and (iii) an order book of RM2.5bn ensuring earnings visibility. Besides, we favour the rebound in CBHB, supported by the data centre pipeline and the group’s outstanding order book of RM530.5m.
Stocks to watch:
Consumer: CAB, CKI, *MFLOUR*, *TOPMIX*
Technology: *SCICOM*
Automotive: *BAUTO*
Construction: *LSH*
Building Material: *MCEMENT*
Telco: TIMECOM
Transportation: WPRTS
**Source: M+ Global**
FBM KLCI: 1,747.54 pts (-3.76pts, -0.21%)
Despite the upbeat regional performance, the FBMKLCI (-0.21%) experienced a minor retreat toward 1747.54 pts, as profit-taking activities were seen in 99SMART (-19.0 sen) and IHH (-17.0 sen). Market breadth was relatively flat, with 560 winners against 547 losers. Sector-wise, Healthcare (+2.42%) exceeded the 2% mark, led by HARTA (+6.0 sen) following its stellar 3Q26 results, while Consumer Products & Services (-0.86%) declined the most.
Top 3 Active stocks:
MMAG (0034): RM0.045 (unch)
TANCO (2429): RM1.370 (+1.0 sen)
PHARMA (7081): RM0.305 (+0.5 sen)
Volume: 2.65 bn (100-bar avg vol: 3.35 bn)
Value: RM2.69 bn (100-bar avg val: RM2.83 bn)
Market Breadth: ⬆️560⬇️547
Crude Palm Oil: RM4,160 (-RM55, -1.32%)
Dow Futures: 50,260 pts (+41 pts)
**Source: M+ Global, Bloomberg **
Despite the upbeat regional performance, the FBMKLCI (-0.21%) experienced a minor retreat toward 1747.54 pts, as profit-taking activities were seen in 99SMART (-19.0 sen) and IHH (-17.0 sen). Market breadth was relatively flat, with 560 winners against 547 losers. Sector-wise, Healthcare (+2.42%) exceeded the 2% mark, led by HARTA (+6.0 sen) following its stellar 3Q26 results, while Consumer Products & Services (-0.86%) declined the most.
Top 3 Active stocks:
MMAG (0034): RM0.045 (unch)
TANCO (2429): RM1.370 (+1.0 sen)
PHARMA (7081): RM0.305 (+0.5 sen)
Volume: 2.65 bn (100-bar avg vol: 3.35 bn)
Value: RM2.69 bn (100-bar avg val: RM2.83 bn)
Market Breadth: ⬆️560⬇️547
Crude Palm Oil: RM4,160 (-RM55, -1.32%)
Dow Futures: 50,260 pts (+41 pts)
**Source: M+ Global, Bloomberg **
👏2
M+ Global Market Update – 11Feb26
Wall Street Ended Mixed Following Weak Retail Data
US: Although software stocks recently hit new 52-week lows due to "AI replacement" fears, we view Salesforce as a potential accumulation opportunity. This is supported by the company’s deep customer data repository and its Agentforce platform, which builds autonomous AI agents to manage customer service, sales, and marketing without human intervention. CEO Marc Benioff recently noted that Agentforce allowed him to reduce his support team from 9,000 to 5,000 staff as AI agents now handle the heavy lifting; a move expected to protect Salesforce’s 35.5% operating margin. For a more defensive play, traders might also consider Yum! Brands Inc.
MY: Given the stronger MYR and the upcoming CNY, we believe the trading environment favours consumer stock like Padini in the near term, while Bermaz Auto and Betamek could benefit. Meanwhile, we favour Hartanah Kenyalang following its recent pullback, as the Sarawak-based builder continues to secure contracts, including a record RM275m Sibu prison award, lifting its total order book to RM567.7m. Another Sarawak play, Reachten, has seen growing buying interest, signalling a potential bottom or accumulation phase. Moving forward, the investment theme should remain focused on domestic-centric counters, driven by a strengthening MYR and Visit Malaysia 2026.
Stocks to watch:
Technology: *GOHUB*, *JHM*, SCICOM
Automotive: *BAUTO*, *BETA*
Construction: *GAMUDA*, PWRWELL
Transportation: *WPRTS*
Consumer: PADINI
**Source: M+ Global**
Wall Street Ended Mixed Following Weak Retail Data
US: Although software stocks recently hit new 52-week lows due to "AI replacement" fears, we view Salesforce as a potential accumulation opportunity. This is supported by the company’s deep customer data repository and its Agentforce platform, which builds autonomous AI agents to manage customer service, sales, and marketing without human intervention. CEO Marc Benioff recently noted that Agentforce allowed him to reduce his support team from 9,000 to 5,000 staff as AI agents now handle the heavy lifting; a move expected to protect Salesforce’s 35.5% operating margin. For a more defensive play, traders might also consider Yum! Brands Inc.
MY: Given the stronger MYR and the upcoming CNY, we believe the trading environment favours consumer stock like Padini in the near term, while Bermaz Auto and Betamek could benefit. Meanwhile, we favour Hartanah Kenyalang following its recent pullback, as the Sarawak-based builder continues to secure contracts, including a record RM275m Sibu prison award, lifting its total order book to RM567.7m. Another Sarawak play, Reachten, has seen growing buying interest, signalling a potential bottom or accumulation phase. Moving forward, the investment theme should remain focused on domestic-centric counters, driven by a strengthening MYR and Visit Malaysia 2026.
Stocks to watch:
Technology: *GOHUB*, *JHM*, SCICOM
Automotive: *BAUTO*, *BETA*
Construction: *GAMUDA*, PWRWELL
Transportation: *WPRTS*
Consumer: PADINI
**Source: M+ Global**
👍3
M+ Morning Market Buzz - 11Feb26
Dow Jones: 50,188.14 pts (+52.27pts, +0.10%)
⬆️ Resistance: 51600
⬇️ Support: 47900
FBM KLCI: 1,747.54 pts (-3.76pts, -0.21%)
⬆️ Resistance: 1800
⬇️ Support: 1690
HSI Index: 27,183.15 pts (+155.99pts, +0.58%)
⬆️ Resistance: 28000
⬇️ Support: 25800
Crude Palm Oil: RM4,095 (+RM3, +0.07%)
⬆️ Resistance: 4350
⬇️ Support: 4010
Brent Oil: $68.80 (-$0.24, -0.35%)
⬆️ Resistance: 71.20
⬇️ Support: 65.30
Gold: $5,025.45 (+$20.63, +0.36%)
⬆️ Resistance: 5200
⬇️ Support: 4570
Source: Bloomberg, M+ Global
Dow Jones: 50,188.14 pts (+52.27pts, +0.10%)
⬆️ Resistance: 51600
⬇️ Support: 47900
FBM KLCI: 1,747.54 pts (-3.76pts, -0.21%)
⬆️ Resistance: 1800
⬇️ Support: 1690
HSI Index: 27,183.15 pts (+155.99pts, +0.58%)
⬆️ Resistance: 28000
⬇️ Support: 25800
Crude Palm Oil: RM4,095 (+RM3, +0.07%)
⬆️ Resistance: 4350
⬇️ Support: 4010
Brent Oil: $68.80 (-$0.24, -0.35%)
⬆️ Resistance: 71.20
⬇️ Support: 65.30
Gold: $5,025.45 (+$20.63, +0.36%)
⬆️ Resistance: 5200
⬇️ Support: 4570
Source: Bloomberg, M+ Global
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M+ Global Market Wrap - 11Feb26
FBM KLCI: 1,756.39 pts (+8.85pts, +0.51%)
As MSCI maintained the constituents of its main country index, the FBMKLCI rebounded to 1,756.39 pts, buoyed by gains in MAYBANK (+26.0 sen) and PMETAL (+15.0 sen). This is also broadly in line with the positive regional performance. Market breadth remained positive, with 575 winners against 474 losers. In the broader environment, buying interest was seen in the Financial Services (+0.73%) sector, while Construction (-0.38%) experienced profit-taking activities.
Top 3 Active stocks:
PHARMA (7081): RM0.325 (+2.0 sen)
TWL (7079): RM0.020 (-0.5 sen)
TANCO (2429): RM1.380 (+1.0 sen)
Volume: 2.55 bn (100-bar avg vol: 3.35 bn)
Value: RM3.06 bn (100-bar avg val: RM2.82 bn)
Market Breadth: ⬆️575⬇️474
Crude Palm Oil: RM4,095 (-RM34, -0.83%)
Dow Futures: 50,371 pts (+98 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,756.39 pts (+8.85pts, +0.51%)
As MSCI maintained the constituents of its main country index, the FBMKLCI rebounded to 1,756.39 pts, buoyed by gains in MAYBANK (+26.0 sen) and PMETAL (+15.0 sen). This is also broadly in line with the positive regional performance. Market breadth remained positive, with 575 winners against 474 losers. In the broader environment, buying interest was seen in the Financial Services (+0.73%) sector, while Construction (-0.38%) experienced profit-taking activities.
Top 3 Active stocks:
PHARMA (7081): RM0.325 (+2.0 sen)
TWL (7079): RM0.020 (-0.5 sen)
TANCO (2429): RM1.380 (+1.0 sen)
Volume: 2.55 bn (100-bar avg vol: 3.35 bn)
Value: RM3.06 bn (100-bar avg val: RM2.82 bn)
Market Breadth: ⬆️575⬇️474
Crude Palm Oil: RM4,095 (-RM34, -0.83%)
Dow Futures: 50,371 pts (+98 pts)
**Source: M+ Global, Bloomberg **
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Good Evening All,
We issued a technical buy call on Nu Holdings Ltd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Strategic entry into the US
(ii) Aggressive expansion in Mexico and Colombia
(iii) Strong earnings momentum
Research Team, M+
11 February 2026
We issued a technical buy call on Nu Holdings Ltd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Strategic entry into the US
(ii) Aggressive expansion in Mexico and Colombia
(iii) Strong earnings momentum
Research Team, M+
11 February 2026
M+ Morning Market Buzz - 12Feb26
Dow Jones: 50,121.40 pts (-66.74pts, -0.13%)
⬆️ Resistance: 51600
⬇️ Support: 47900
FBM KLCI: 1,756.39 pts (+8.85pts, +0.51%)
⬆️ Resistance: 1800
⬇️ Support: 1690
HSI Index: 27,266.38 pts (+83.23pts, +0.31%)
⬆️ Resistance: 28000
⬇️ Support: 25800
Crude Palm Oil: RM4,061 (+RM6, +0.15%)
⬆️ Resistance: 4320
⬇️ Support: 3980
Brent Oil: $69.40 (+$0.60, +0.87%)
⬆️ Resistance: 72.20
⬇️ Support: 65.30
Gold: $5,084.39 (-$19.01, -0.30%)
⬆️ Resistance: 5230
⬇️ Support: 4570
Source: Bloomberg, M+ Global
Dow Jones: 50,121.40 pts (-66.74pts, -0.13%)
⬆️ Resistance: 51600
⬇️ Support: 47900
FBM KLCI: 1,756.39 pts (+8.85pts, +0.51%)
⬆️ Resistance: 1800
⬇️ Support: 1690
HSI Index: 27,266.38 pts (+83.23pts, +0.31%)
⬆️ Resistance: 28000
⬇️ Support: 25800
Crude Palm Oil: RM4,061 (+RM6, +0.15%)
⬆️ Resistance: 4320
⬇️ Support: 3980
Brent Oil: $69.40 (+$0.60, +0.87%)
⬆️ Resistance: 72.20
⬇️ Support: 65.30
Gold: $5,084.39 (-$19.01, -0.30%)
⬆️ Resistance: 5230
⬇️ Support: 4570
Source: Bloomberg, M+ Global
M+ Global Market Update – 12Feb26
Wall Street Dragged By Lower Rate Cuts Expectations
US: Generally, we expect Wall Street to maintain a muted tone following recent economic data, as the Fed’s stance has become less dovish. Meanwhile, we believe investors should consider Alibaba, as the company has announced it is spending US$431m to attract users to its Qwen AI app during the CNY period. This initiative includes incentives for dining, beverages, entertainment, and leisure activities, alongside the "continuous distribution of large red envelopes". We believe these incentives represent a strategic opportunity for Alibaba to acquire new users and capture a larger market share. Lastly, given the upward momentum of Chinese data centre operator VNET Group, traders may wish to monitor the laggard, GDS Holdings.
MY: As CNY approaches, coupled with the strengthening Ringgit, we believe sentiment will favour PADINI and AEON, justifying their breakouts yesterday. Meanwhile, we think investors could turn their attention to TECHSTORE, underpinned by: (i) 9MFY25 results which have already outperformed the full-year FY24 figures and (ii) the recent RM54.8m contract win from the Ministry of Home Affairs to upgrade the National Registration Department’s record system in Putrajaya. Lastly, M&E engineering solutions provider KEEMING (M+ TP: RM0.69), which saw an oversubscription of 54.16 times, will be listed on the ACE Market today.
Stocks to watch:
Finance: ABMB, AFFIN, CIMB, *TAKAFUL*
Consumer: *AEON*, *MRDIY*
Automotive: *BAUTO*, SIME
Healthcare: PHARMA
Property: *MATRIX*
Construction: *SUNCON*
**Source: M+ Global**
Wall Street Dragged By Lower Rate Cuts Expectations
US: Generally, we expect Wall Street to maintain a muted tone following recent economic data, as the Fed’s stance has become less dovish. Meanwhile, we believe investors should consider Alibaba, as the company has announced it is spending US$431m to attract users to its Qwen AI app during the CNY period. This initiative includes incentives for dining, beverages, entertainment, and leisure activities, alongside the "continuous distribution of large red envelopes". We believe these incentives represent a strategic opportunity for Alibaba to acquire new users and capture a larger market share. Lastly, given the upward momentum of Chinese data centre operator VNET Group, traders may wish to monitor the laggard, GDS Holdings.
MY: As CNY approaches, coupled with the strengthening Ringgit, we believe sentiment will favour PADINI and AEON, justifying their breakouts yesterday. Meanwhile, we think investors could turn their attention to TECHSTORE, underpinned by: (i) 9MFY25 results which have already outperformed the full-year FY24 figures and (ii) the recent RM54.8m contract win from the Ministry of Home Affairs to upgrade the National Registration Department’s record system in Putrajaya. Lastly, M&E engineering solutions provider KEEMING (M+ TP: RM0.69), which saw an oversubscription of 54.16 times, will be listed on the ACE Market today.
Stocks to watch:
Finance: ABMB, AFFIN, CIMB, *TAKAFUL*
Consumer: *AEON*, *MRDIY*
Automotive: *BAUTO*, SIME
Healthcare: PHARMA
Property: *MATRIX*
Construction: *SUNCON*
**Source: M+ Global**
FBM KLCI: 1,750.85 pts (-5.54pts, -0.32%)
Tracking the softer overnight performance in the US, the FBMKLCI (-0.32%) ended the day lower, as profit-taking activities were seen in the banking heavyweights like MAYBANK (-12.0 sen) and CIMB (-6.0 sen). Mechanical and electrical engineering services provider KEEMING made its ACE market debut today, reaching a high of RM0.89 before ending the day at RM0.87, making a stunning debut of 128.9% above its IPO price of RM0.38. Market breadth was soft, with 593 losers against 489 winners. In the broader environment, Transportation & Logistics (+1.21%) exceeded the 1% gain mark, while Telecommunications & Media (-1.18%) saw the largest decline.
Top 3 Active stocks:
ZETRIX (0138): RM0.820 (+0.5 sen)
KEEMING (0392): RM0.870 (+49.0 sen)
TANCO (2429): RM1.380 (unch)
Volume: 2.57 bn (100-bar avg vol: 3.34 bn)
Value: RM2.79 bn (100-bar avg val: RM2.83 bn)
Market Breadth: ⬆️489⬇️593
Crude Palm Oil: RM4,061 (-RM22, -0.54%)
Dow Futures: 50,346 pts (+141 pts)
**Source: M+ Global, Bloomberg **
Tracking the softer overnight performance in the US, the FBMKLCI (-0.32%) ended the day lower, as profit-taking activities were seen in the banking heavyweights like MAYBANK (-12.0 sen) and CIMB (-6.0 sen). Mechanical and electrical engineering services provider KEEMING made its ACE market debut today, reaching a high of RM0.89 before ending the day at RM0.87, making a stunning debut of 128.9% above its IPO price of RM0.38. Market breadth was soft, with 593 losers against 489 winners. In the broader environment, Transportation & Logistics (+1.21%) exceeded the 1% gain mark, while Telecommunications & Media (-1.18%) saw the largest decline.
Top 3 Active stocks:
ZETRIX (0138): RM0.820 (+0.5 sen)
KEEMING (0392): RM0.870 (+49.0 sen)
TANCO (2429): RM1.380 (unch)
Volume: 2.57 bn (100-bar avg vol: 3.34 bn)
Value: RM2.79 bn (100-bar avg val: RM2.83 bn)
Market Breadth: ⬆️489⬇️593
Crude Palm Oil: RM4,061 (-RM22, -0.54%)
Dow Futures: 50,346 pts (+141 pts)
**Source: M+ Global, Bloomberg **
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M+ Morning Market Buzz - 13Feb26
Dow Jones: 49,451.98 pts (-669.42pts, -1.34%)
⬆️ Resistance: 51600
⬇️ Support: 48100
FBM KLCI: 1,750.85 pts (-5.54pts, -0.32%)
⬆️ Resistance: 1800
⬇️ Support: 1690
HSI Index: 27,032.54 pts (-233.84pts, -0.86%)
⬆️ Resistance: 28000
⬇️ Support: 25800
Crude Palm Oil: RM4,037 (+RM7, +0.17%)
⬆️ Resistance: 4290
⬇️ Support: 3950
Brent Oil: $69.40 (-$1.73, -2.49%)
⬆️ Resistance: 72.20
⬇️ Support: 65.30
Gold: $4,922.19 (-$162.20, -3.19%)
⬆️ Resistance: 5230
⬇️ Support: 4570
Source: Bloomberg, M+ Global
Dow Jones: 49,451.98 pts (-669.42pts, -1.34%)
⬆️ Resistance: 51600
⬇️ Support: 48100
FBM KLCI: 1,750.85 pts (-5.54pts, -0.32%)
⬆️ Resistance: 1800
⬇️ Support: 1690
HSI Index: 27,032.54 pts (-233.84pts, -0.86%)
⬆️ Resistance: 28000
⬇️ Support: 25800
Crude Palm Oil: RM4,037 (+RM7, +0.17%)
⬆️ Resistance: 4290
⬇️ Support: 3950
Brent Oil: $69.40 (-$1.73, -2.49%)
⬆️ Resistance: 72.20
⬇️ Support: 65.30
Gold: $4,922.19 (-$162.20, -3.19%)
⬆️ Resistance: 5230
⬇️ Support: 4570
Source: Bloomberg, M+ Global
👍2
M+ Global Market Update – 13Feb26
Dow Retraced Below The 50,000 Level
US: As Wall Street enters the final trading day of the week, the market will focus on January's CPI data, which will further influence the Fed’s upcoming rate-cut decisions. Meanwhile, we believe traders could position for GE Aerospace, which is poised for a breakout supported by: (i) its stellar 2025 results; (ii) a strategic focus on high-margin engine services and AI-powered maintenance; and (iii) a record US$190bn backlog. Lastly, we suggest accumulating Visa and Mastercard shares on the current dip, as the sell-off, driven by regulatory and interest-rate cap concerns, appears overdone given their dominant roles in global cross-border travel and the emerging agentic AI economy.
MY: With the ringgit strengthening towards the RM3.90 level, buying interest is re-emerging in poultry stocks such as Leong Hup, while laggards like Teo Seng and CAB Cakaran present attractive entry opportunities following recent pullbacks. We believe a stronger ringgit will reduce feed costs, while the removal of subsidies supports higher ASPs and wider margins. Also, we view Sorento’s bullish engulfing pattern as a buy signal, backed by: (i) stellar 2QFY26 results; (ii) a new Johor showroom tapping into JSSEZ demand; and (iii) a solid net cash position. Lastly, poultry producer Hock Soon (M+ TP: RM0.66) debuts on the Main Market today.
Stocks to watch:
Technology: *CNERGEN*, EDELTEQ, SCICOM, *THMY*
Automotive: *BAUTO*, *BETAMEK*, *MBMR*
Property: SIMEPROP
Transportation: WPRTS
Building Material: *MSC*
**Source: M+ Global**
Dow Retraced Below The 50,000 Level
US: As Wall Street enters the final trading day of the week, the market will focus on January's CPI data, which will further influence the Fed’s upcoming rate-cut decisions. Meanwhile, we believe traders could position for GE Aerospace, which is poised for a breakout supported by: (i) its stellar 2025 results; (ii) a strategic focus on high-margin engine services and AI-powered maintenance; and (iii) a record US$190bn backlog. Lastly, we suggest accumulating Visa and Mastercard shares on the current dip, as the sell-off, driven by regulatory and interest-rate cap concerns, appears overdone given their dominant roles in global cross-border travel and the emerging agentic AI economy.
MY: With the ringgit strengthening towards the RM3.90 level, buying interest is re-emerging in poultry stocks such as Leong Hup, while laggards like Teo Seng and CAB Cakaran present attractive entry opportunities following recent pullbacks. We believe a stronger ringgit will reduce feed costs, while the removal of subsidies supports higher ASPs and wider margins. Also, we view Sorento’s bullish engulfing pattern as a buy signal, backed by: (i) stellar 2QFY26 results; (ii) a new Johor showroom tapping into JSSEZ demand; and (iii) a solid net cash position. Lastly, poultry producer Hock Soon (M+ TP: RM0.66) debuts on the Main Market today.
Stocks to watch:
Technology: *CNERGEN*, EDELTEQ, SCICOM, *THMY*
Automotive: *BAUTO*, *BETAMEK*, *MBMR*
Property: SIMEPROP
Transportation: WPRTS
Building Material: *MSC*
**Source: M+ Global**
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M+ Global Market Wrap - 13Feb26
FBM KLCI: 1,739.54 pts (-11.31pts, -0.65%)
Tracking Wall Street's weak overnight performance, coupled with the regional sentiment, the FBMKLCI (-0.65%) ended the day lower at 1,739.54 pts, dragged by losses in banking heavyweights like PBBANK (-9.0 sen) and HLBANK (-58.0 sen). Meanwhile, poultry producer HOCKSOON made its Main Market debut today, closing at a high of 56.0 sen, but was still 6.7% lower than its IPO price of 60.0 sen. Market breadth remained weak, with 709 losers against 407 winners. Sector-wise, Property (+0.32%) outperformed, while Technology (-1.28%) saw the largest decline.
Top 3 Active stocks:
ZENTECH (0094): RM0.005 (-0.5 sen)
ZETRIX (0138): RM0.800 (-2.0 sen)
HOCKSOON (5346): RM0.560 (-)
Volume: 2.43 bn (100-bar avg vol: 3.34 bn)
Value: RM2.60 bn (100-bar avg val: RM2.81 bn)
Market Breadth: ⬆️407⬇️709
Crude Palm Oil: RM4,037 (-RM6, -0.15%)
Dow Futures: 49,393 pts (-130 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,739.54 pts (-11.31pts, -0.65%)
Tracking Wall Street's weak overnight performance, coupled with the regional sentiment, the FBMKLCI (-0.65%) ended the day lower at 1,739.54 pts, dragged by losses in banking heavyweights like PBBANK (-9.0 sen) and HLBANK (-58.0 sen). Meanwhile, poultry producer HOCKSOON made its Main Market debut today, closing at a high of 56.0 sen, but was still 6.7% lower than its IPO price of 60.0 sen. Market breadth remained weak, with 709 losers against 407 winners. Sector-wise, Property (+0.32%) outperformed, while Technology (-1.28%) saw the largest decline.
Top 3 Active stocks:
ZENTECH (0094): RM0.005 (-0.5 sen)
ZETRIX (0138): RM0.800 (-2.0 sen)
HOCKSOON (5346): RM0.560 (-)
Volume: 2.43 bn (100-bar avg vol: 3.34 bn)
Value: RM2.60 bn (100-bar avg val: RM2.81 bn)
Market Breadth: ⬆️407⬇️709
Crude Palm Oil: RM4,037 (-RM6, -0.15%)
Dow Futures: 49,393 pts (-130 pts)
**Source: M+ Global, Bloomberg **
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