Good Morning All,
AWC Berhad announced that its wholly-owned subsidiary, Qudotech Sdn. Bhd., has accepted a RM22.2m contract from a joint venture contractor for the execution and completion of plumbing, silo tank and internal sanitary works for a data centre project. The contract is expected to be completed by 27 December 2026. This marks the Engineering Division’s second data centre-related contract win in FY26, bringing AWC’s cumulative contract wins in FY26 to approximately RM472m.
We view this contract win as positive for AWC, as it further strengthens the Group’s foothold in the data centre infrastructure segment. As the job win is within our expectation, we maintained our earnings forecast.
📍We maintain our HOLD recommendation on AWC, with an unchanged TP of RM0.52. The target price is derived based on a P/E ratio of 10.0x pegged to mid-FY27f fully-diluted EPS of 5.20 sen.
AWC Berhad announced that its wholly-owned subsidiary, Qudotech Sdn. Bhd., has accepted a RM22.2m contract from a joint venture contractor for the execution and completion of plumbing, silo tank and internal sanitary works for a data centre project. The contract is expected to be completed by 27 December 2026. This marks the Engineering Division’s second data centre-related contract win in FY26, bringing AWC’s cumulative contract wins in FY26 to approximately RM472m.
We view this contract win as positive for AWC, as it further strengthens the Group’s foothold in the data centre infrastructure segment. As the job win is within our expectation, we maintained our earnings forecast.
📍We maintain our HOLD recommendation on AWC, with an unchanged TP of RM0.52. The target price is derived based on a P/E ratio of 10.0x pegged to mid-FY27f fully-diluted EPS of 5.20 sen.
M+ Global Market Update – 08Apr26 Trump Suspends Iran Attack For 2 Weeks
US: With Trump suspending strikes on Iran for two weeks, Wall Street futures have climbed by more than 2% at the time of writing. Meanwhile, as Anthropic expands its partnership with Google and Broadcom to secure 3.5GW of next-generation TPU capacity, we continue to view Broadcom as the premier "picks and shovels" play for the AI theme. Also, given the recent sell-off in the technology sector, we see an attractive entry point for investors. This outlook is underpinned by the ongoing AI transition and robust financial fundamentals; notably, HDD manufacturer Western Digital has already exhausted its 2026 production capacity due to hyperscaler demand, securing long-term agreements, extending into 2027-2028. MY: We anticipate the FBM KLCI to track Trump’s deadline extension and the positive Wall Street futures. We are particularly optimistic about the breakout observed in CBHB, supported by an order book of RM592m, serving as a strategic proxy for Tenaga’s grid upgrades and the domestic data centre boom. MNHLDG is also positioned to benefit from these structural tailwinds. Besides, we believe bottoming signals are emerging within the solar sector, which presents "value-buy" opportunities for investors in SLVEST and PEKAT, supported by substantial order books and government-led initiatives such as NETR, LSS5+, and Solar ATAP.
Stocks to watch:
Technology: KGB, *KOBAY*, *NE* Automotive: BAUTO, *DRBHCOM* Construction: *CBHB*, MNHLDG Building Material: *CSCSTEL* Chemical: *TMK* O&G: WASCO
**Source: M+ Global**
US: With Trump suspending strikes on Iran for two weeks, Wall Street futures have climbed by more than 2% at the time of writing. Meanwhile, as Anthropic expands its partnership with Google and Broadcom to secure 3.5GW of next-generation TPU capacity, we continue to view Broadcom as the premier "picks and shovels" play for the AI theme. Also, given the recent sell-off in the technology sector, we see an attractive entry point for investors. This outlook is underpinned by the ongoing AI transition and robust financial fundamentals; notably, HDD manufacturer Western Digital has already exhausted its 2026 production capacity due to hyperscaler demand, securing long-term agreements, extending into 2027-2028. MY: We anticipate the FBM KLCI to track Trump’s deadline extension and the positive Wall Street futures. We are particularly optimistic about the breakout observed in CBHB, supported by an order book of RM592m, serving as a strategic proxy for Tenaga’s grid upgrades and the domestic data centre boom. MNHLDG is also positioned to benefit from these structural tailwinds. Besides, we believe bottoming signals are emerging within the solar sector, which presents "value-buy" opportunities for investors in SLVEST and PEKAT, supported by substantial order books and government-led initiatives such as NETR, LSS5+, and Solar ATAP.
Stocks to watch:
Technology: KGB, *KOBAY*, *NE* Automotive: BAUTO, *DRBHCOM* Construction: *CBHB*, MNHLDG Building Material: *CSCSTEL* Chemical: *TMK* O&G: WASCO
**Source: M+ Global**
*2Q26 Outlook and Strategy - Trade Tariffs, Global Tensions, and the Flight to Safety*
https://r.mplusglobal.com.my/public/website/file/2026/04/08/20260408145026063.pdf
• US markets ended in the red during 1Q as selling interest emerged following the Middle East geopolitical tension and persistent inflation pressures overshadowing the earlier concerns over Trump’s tariff. The Energy sector was the top-performing sector, while tech and communication services led the declines. The Fed held rates steady at 3.50–3.75% in March, signalling only one cut expected for the remainder of 2026, a more hawkish guidance for the time being.
• Closer to home, the Ringgit continued to strengthen, hovering around the RM3.97–4.02 zone. Malaysia's GDP surprised to the upside at 6.3% in 4Q25. Foreign inflows remained constructive on the back of data centre capex and structural policy blueprints (13MP, NETR, NIMP 2030).
• We favour selected stocks in the Automotive, Building Materials, NETR-related, power infrastructure, consumer, solar and O&G sectors.
*2Q26 MY Stock picks:-*
1. BETA (S: RM0.500-0.530, R: RM0.700-0.740, CL: RM0.490)
2. PMETAL (S: RM7.25-7.50, R: RM8.50-8.74, CL: RM7.11)
3. SCGBHD (S: RM1.60-1.77, R: RM2.0-2.18, CL: RM1.57)
4. MNHLDG (S: RM1.40-1.50, R: RM2.15-2.25, CL: RM1.37)
5. CBHB (S: RM0.420-0.460, R: RM0.640-0.700, CL: RM0.412)
6. 99SMART (S: RM2.99-3.20, R: RM4.03-4.20, CL: RM2.93)
7. ARMADA (S: RM0.310-0.330, R: RM0.440-0.470, CL: RM0.304)
8. DIALOG (S: RM2.11-2.25, R: RM2.55-2.72, CL: RM2.07)
9. OSK (S: RM1.40-1.50, R: RM1.90-2.0, CL: RM1.37)
10. SLVEST (S: RM1.81-1.97, R: RM2.66-2.86, CL: RM1.77)
11. SCICOM (S: RM1.32-1.40, R: RM1.75-1.84, CL: RM1.29)
12. NE (S: RM0.570-0.650, R: RM0.950-1.0, CL: RM0.559)
13. KGB (S: RM3.75-4.09, R: RM5.27-5.53, CL: RM3.68)
S: Support, R: Resistance, CL: Cut loss
*2Q26 US Stock picks:-*
1. Marvell Technology (MRVL) — Custom AI silicon leader riding the hyperscaler ASIC wave, Nvidia invested $2bn.
2. Ubiquiti (UI) — Disruptive networking play with superior margins and a loyal customer base.
3. BWX Technologies (BWXT) — Monopoly naval nuclear supplier with growing SMR optionality.
4. XPO (XPO) — Less-Than-Truckload freight leader with real pricing power in a re-shoring-driven market.
5. FTAI Aviation (FTAI) — Aircraft engine lessor capitalising on a structural global supply shortage.
6. Casey's General Stores (CASY) — Convenience and fresh-food leader with a best-in-class loyalty ecosystem.
7. Burlington Stores (BURL) — Budget-conscious shoppers who prioritize necessity and find "deals" essential for their household.
8. Illumina (ILMN) — Genomic sequencing platform with durable recurring revenues.
9. Royalty Pharma (RPRX) — High-yield royalty aggregator with minimal binary risk.
10. Medline (MDLN) — Dominant medical distributor riding consolidation and demographic tailwinds.
11. Tradeweb Markets (TW) — Fixed-income electronic trading platform riding the digitisation of bond markets
_*Source: Bloomberg, M+ Global*_
https://r.mplusglobal.com.my/public/website/file/2026/04/08/20260408145026063.pdf
• US markets ended in the red during 1Q as selling interest emerged following the Middle East geopolitical tension and persistent inflation pressures overshadowing the earlier concerns over Trump’s tariff. The Energy sector was the top-performing sector, while tech and communication services led the declines. The Fed held rates steady at 3.50–3.75% in March, signalling only one cut expected for the remainder of 2026, a more hawkish guidance for the time being.
• Closer to home, the Ringgit continued to strengthen, hovering around the RM3.97–4.02 zone. Malaysia's GDP surprised to the upside at 6.3% in 4Q25. Foreign inflows remained constructive on the back of data centre capex and structural policy blueprints (13MP, NETR, NIMP 2030).
• We favour selected stocks in the Automotive, Building Materials, NETR-related, power infrastructure, consumer, solar and O&G sectors.
*2Q26 MY Stock picks:-*
1. BETA (S: RM0.500-0.530, R: RM0.700-0.740, CL: RM0.490)
2. PMETAL (S: RM7.25-7.50, R: RM8.50-8.74, CL: RM7.11)
3. SCGBHD (S: RM1.60-1.77, R: RM2.0-2.18, CL: RM1.57)
4. MNHLDG (S: RM1.40-1.50, R: RM2.15-2.25, CL: RM1.37)
5. CBHB (S: RM0.420-0.460, R: RM0.640-0.700, CL: RM0.412)
6. 99SMART (S: RM2.99-3.20, R: RM4.03-4.20, CL: RM2.93)
7. ARMADA (S: RM0.310-0.330, R: RM0.440-0.470, CL: RM0.304)
8. DIALOG (S: RM2.11-2.25, R: RM2.55-2.72, CL: RM2.07)
9. OSK (S: RM1.40-1.50, R: RM1.90-2.0, CL: RM1.37)
10. SLVEST (S: RM1.81-1.97, R: RM2.66-2.86, CL: RM1.77)
11. SCICOM (S: RM1.32-1.40, R: RM1.75-1.84, CL: RM1.29)
12. NE (S: RM0.570-0.650, R: RM0.950-1.0, CL: RM0.559)
13. KGB (S: RM3.75-4.09, R: RM5.27-5.53, CL: RM3.68)
S: Support, R: Resistance, CL: Cut loss
*2Q26 US Stock picks:-*
1. Marvell Technology (MRVL) — Custom AI silicon leader riding the hyperscaler ASIC wave, Nvidia invested $2bn.
2. Ubiquiti (UI) — Disruptive networking play with superior margins and a loyal customer base.
3. BWX Technologies (BWXT) — Monopoly naval nuclear supplier with growing SMR optionality.
4. XPO (XPO) — Less-Than-Truckload freight leader with real pricing power in a re-shoring-driven market.
5. FTAI Aviation (FTAI) — Aircraft engine lessor capitalising on a structural global supply shortage.
6. Casey's General Stores (CASY) — Convenience and fresh-food leader with a best-in-class loyalty ecosystem.
7. Burlington Stores (BURL) — Budget-conscious shoppers who prioritize necessity and find "deals" essential for their household.
8. Illumina (ILMN) — Genomic sequencing platform with durable recurring revenues.
9. Royalty Pharma (RPRX) — High-yield royalty aggregator with minimal binary risk.
10. Medline (MDLN) — Dominant medical distributor riding consolidation and demographic tailwinds.
11. Tradeweb Markets (TW) — Fixed-income electronic trading platform riding the digitisation of bond markets
_*Source: Bloomberg, M+ Global*_
👍2
M+ Global Market Wrap - 8Apr26
FBM KLCI: 1,696.31 pts (+19.45pts, +1.16%)
The FBM KLCI (+1.16%) closed higher at 1696.31 points as the Pakistan-mediated Iran ceasefire hinted at a possible reopening of the Strait of Hormuz. The market breadth was positive, with 855 winners against 410 losers. Sector wise, Technology (+4.00%) outperformed, led by VITROX (+19.0sen) and GREATEC (+13.0sen), while Plantation (-1.96%) declined the most.
Top 3 Active stocks:
AAX (5238): RM1.25 (+9.0 sen)
VS (6963): RM0.195 (+1.0 sen)
ZETRIX (0138): RM0.760 (+2.0sen)
Top 3 Gainer stocks:
NESTLE (4707): RM101.00 (+270.0 sen)
PETDAG (5681): RM21.98 (+102.0 sen)
F&N (3689): RM29.40 (+70.0 sen)
Top 3 Loser stocks:
UTDPLT (2089): RM32.64 (-122.0 sen)
BKAWAN (1899): RM21.42 (-36.0 sen)
PCHEM (5183): RM5.59 (-29.0 sen)
Volume: 3.77 bn (100-bar avg vol: 3.16 bn)
Value: RM3.64 bn (100-bar avg val: RM3.04 bn)
Market Breadth: ⬆️855 ⬇️410
Crude Palm Oil: RM4,765 (-RM176, -3.69%)
Dow Futures: 47,949 pts (+1137 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,696.31 pts (+19.45pts, +1.16%)
The FBM KLCI (+1.16%) closed higher at 1696.31 points as the Pakistan-mediated Iran ceasefire hinted at a possible reopening of the Strait of Hormuz. The market breadth was positive, with 855 winners against 410 losers. Sector wise, Technology (+4.00%) outperformed, led by VITROX (+19.0sen) and GREATEC (+13.0sen), while Plantation (-1.96%) declined the most.
Top 3 Active stocks:
AAX (5238): RM1.25 (+9.0 sen)
VS (6963): RM0.195 (+1.0 sen)
ZETRIX (0138): RM0.760 (+2.0sen)
Top 3 Gainer stocks:
NESTLE (4707): RM101.00 (+270.0 sen)
PETDAG (5681): RM21.98 (+102.0 sen)
F&N (3689): RM29.40 (+70.0 sen)
Top 3 Loser stocks:
UTDPLT (2089): RM32.64 (-122.0 sen)
BKAWAN (1899): RM21.42 (-36.0 sen)
PCHEM (5183): RM5.59 (-29.0 sen)
Volume: 3.77 bn (100-bar avg vol: 3.16 bn)
Value: RM3.64 bn (100-bar avg val: RM3.04 bn)
Market Breadth: ⬆️855 ⬇️410
Crude Palm Oil: RM4,765 (-RM176, -3.69%)
Dow Futures: 47,949 pts (+1137 pts)
**Source: M+ Global, Bloomberg **
😁2🥰1
M+ Morning Market Buzz - 9Apr26
Dow Jones: 47,909.92 pts (+1325.46pts, +2.85%)
⬆️ Resistance: 49000
⬇️ Support: 45000
FBM KLCI: 1,696.31 pts (+19.45pts, +1.16%)
⬆️ Resistance: 1750
⬇️ Support: 1640
HSI Index: 25,893.02 pts (+776.49pts, +3.09%)
⬆️ Resistance: 26500
⬇️ Support: 24500
Crude Palm Oil: RM4,586 (+RM23, +0.50%)
⬆️ Resistance: 4970
⬇️ Support: 4480
Brent Oil: $94.75 (-$14.52, -13.29%)
⬆️ Resistance: 114.20
⬇️ Support: 88.60
Gold: $4,719.15 (-$6.28, -0.08%)
⬆️ Resistance: 4960
⬇️ Support: 4470
Source: Bloomberg, M+ Global
Dow Jones: 47,909.92 pts (+1325.46pts, +2.85%)
⬆️ Resistance: 49000
⬇️ Support: 45000
FBM KLCI: 1,696.31 pts (+19.45pts, +1.16%)
⬆️ Resistance: 1750
⬇️ Support: 1640
HSI Index: 25,893.02 pts (+776.49pts, +3.09%)
⬆️ Resistance: 26500
⬇️ Support: 24500
Crude Palm Oil: RM4,586 (+RM23, +0.50%)
⬆️ Resistance: 4970
⬇️ Support: 4480
Brent Oil: $94.75 (-$14.52, -13.29%)
⬆️ Resistance: 114.20
⬇️ Support: 88.60
Gold: $4,719.15 (-$6.28, -0.08%)
⬆️ Resistance: 4960
⬇️ Support: 4470
Source: Bloomberg, M+ Global
😁2
Good Morning All,
We issued a technical buy call on Hartanah Kenyalang Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Half-billion-ringgit order book providing solid revenue visibility
(ii) Expansion into Peninsular Malaysia
(iii) Public infrastructure tailwinds
Research Team, M+
9 April 2026
We issued a technical buy call on Hartanah Kenyalang Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Half-billion-ringgit order book providing solid revenue visibility
(ii) Expansion into Peninsular Malaysia
(iii) Public infrastructure tailwinds
Research Team, M+
9 April 2026
😁2
Good Morning All,
Here’s our IPO note on AMS Advanced Material Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.38 per share for AMS, indicating a 31.0% upside from the IPO price of RM0.29. This valuation is based on a PE multiple of 18.0x, pegged to FY27F EPS of 2.09 sen.
Investment highlights include:
(i) Processing segment to lead stronger revenue growth
(ii) Riding the country’s semiconductor supercycle
(iii) Construction architecture plays through aluminium architectural products
(iv) New revenue stream through aluminium scrap recycling
(v) High-margin and niche positioning in the aluminium industry
Research Team, M+ Global
9 Apr 2026
Here’s our IPO note on AMS Advanced Material Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.38 per share for AMS, indicating a 31.0% upside from the IPO price of RM0.29. This valuation is based on a PE multiple of 18.0x, pegged to FY27F EPS of 2.09 sen.
Investment highlights include:
(i) Processing segment to lead stronger revenue growth
(ii) Riding the country’s semiconductor supercycle
(iii) Construction architecture plays through aluminium architectural products
(iv) New revenue stream through aluminium scrap recycling
(v) High-margin and niche positioning in the aluminium industry
Research Team, M+ Global
9 Apr 2026
M+ Global Market Update – 09Apr26
Strong Rebound After US-Iran Temporary Ceasefire
US: Despite a strong rebound following a two-week US-Iran ceasefire, we expect Wall Street’s trading volatility to persist as Iran threatens the Strait of Hormuz oil transit, citing Israeli strikes in Lebanon as ceasefire violations. This should continue to bode well for BWX Technologies, which is benefiting as a monopoly naval nuclear supplier for the US. Meanwhile, we believe the transition into the "infrastructure" phase of the AI boom favours Marvell Technology as a leader in custom silicon, while Ubiquiti remains a top pick for its superior networking margins. Lastly, following the release of hawkish FOMC minutes indicating potential rate hikes to combat energy-driven inflation, we believe investors should await a pullback for entry opportunities.
MY: Tracking the positive overnight performance on Wall Street, we believe buying interest may sustain on the local front. With Brent oil prices hovering below USD100/barrel, we anticipate that positive sentiment to extend within the aviation and consumer sectors, benefiting stocks such as CAPITALA, AAX, and 99SMART. Meanwhile, yesterday’s breakouts in SLVEST and PEKAT validated our calls on solar sector, serving as a strategic safeguard against future increases in domestic electricity tariffs. Finally, we favour Hartanah Kenyalang, given its record order book of RM563.1m and the tailwinds from Sarawak’s infrastructure development.
Stocks to watch:
Technology: *CORAZA*, *DUFU*, GREATEC, SCICOM
Construction: *MNHLDG*, SUNCON
Automotive: *BAUTO*, *BETA*
Building Material: MSC, *SCGBHD*
Solar: *SLVEST*
Property: LBS
__**Source: M+ Global**__
Strong Rebound After US-Iran Temporary Ceasefire
US: Despite a strong rebound following a two-week US-Iran ceasefire, we expect Wall Street’s trading volatility to persist as Iran threatens the Strait of Hormuz oil transit, citing Israeli strikes in Lebanon as ceasefire violations. This should continue to bode well for BWX Technologies, which is benefiting as a monopoly naval nuclear supplier for the US. Meanwhile, we believe the transition into the "infrastructure" phase of the AI boom favours Marvell Technology as a leader in custom silicon, while Ubiquiti remains a top pick for its superior networking margins. Lastly, following the release of hawkish FOMC minutes indicating potential rate hikes to combat energy-driven inflation, we believe investors should await a pullback for entry opportunities.
MY: Tracking the positive overnight performance on Wall Street, we believe buying interest may sustain on the local front. With Brent oil prices hovering below USD100/barrel, we anticipate that positive sentiment to extend within the aviation and consumer sectors, benefiting stocks such as CAPITALA, AAX, and 99SMART. Meanwhile, yesterday’s breakouts in SLVEST and PEKAT validated our calls on solar sector, serving as a strategic safeguard against future increases in domestic electricity tariffs. Finally, we favour Hartanah Kenyalang, given its record order book of RM563.1m and the tailwinds from Sarawak’s infrastructure development.
Stocks to watch:
Technology: *CORAZA*, *DUFU*, GREATEC, SCICOM
Construction: *MNHLDG*, SUNCON
Automotive: *BAUTO*, *BETA*
Building Material: MSC, *SCGBHD*
Solar: *SLVEST*
Property: LBS
__**Source: M+ Global**__
M+ Global Market Wrap - 9Apr26
FBM KLCI: 1,686.24 pts (-10.07pts, -0.59%)
The FBM KLCI (-0.59%) closed lower at 1686.24 points amid concerns over the fragile Middle Eastern ceasefire. With the Strait of Hormuz remain closed, fears of a lasting economic impact from oil shocks weighed on the market. The market breadth was negative, with 652 losers against 432 winners. Sector wise, Healthcare (+2.86%) outperformed, led by TOPGLOV (+6.0sen) and HARTA (+12.0sen), while Technology (-1.37%) declined the most.
Top 3 Active stocks:
BORNOIL (7036): RM0.005 (UNCH)
ZETRIX (0138): RM0.750 (-1.0 sen)
ARMADA (5210): RM0.375 (+2.0sen)
Top 3 Gainer stocks:
UTDPLT (2089): RM33.06 (+42.0 sen)
KLK (2445): RM22.20 (+24.0 sen)
APOLLO (6432): RM5.94 (+23.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM100.10 (-90.0 sen)
PETDAG (5681): RM21.40 (-58.0 sen)
AYER (2305): RM7.00 (-35.0 sen)
Volume: 3.05 bn (100-bar avg vol: 3.16 bn)
Value: RM2.84 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️432 ⬇️652
Crude Palm Oil: RM4,586 (+RM48, +1.05%)
Dow Futures: 47,940 pts (-204 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,686.24 pts (-10.07pts, -0.59%)
The FBM KLCI (-0.59%) closed lower at 1686.24 points amid concerns over the fragile Middle Eastern ceasefire. With the Strait of Hormuz remain closed, fears of a lasting economic impact from oil shocks weighed on the market. The market breadth was negative, with 652 losers against 432 winners. Sector wise, Healthcare (+2.86%) outperformed, led by TOPGLOV (+6.0sen) and HARTA (+12.0sen), while Technology (-1.37%) declined the most.
Top 3 Active stocks:
BORNOIL (7036): RM0.005 (UNCH)
ZETRIX (0138): RM0.750 (-1.0 sen)
ARMADA (5210): RM0.375 (+2.0sen)
Top 3 Gainer stocks:
UTDPLT (2089): RM33.06 (+42.0 sen)
KLK (2445): RM22.20 (+24.0 sen)
APOLLO (6432): RM5.94 (+23.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM100.10 (-90.0 sen)
PETDAG (5681): RM21.40 (-58.0 sen)
AYER (2305): RM7.00 (-35.0 sen)
Volume: 3.05 bn (100-bar avg vol: 3.16 bn)
Value: RM2.84 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️432 ⬇️652
Crude Palm Oil: RM4,586 (+RM48, +1.05%)
Dow Futures: 47,940 pts (-204 pts)
**Source: M+ Global, Bloomberg **
M+ Global Market Update – 10Apr26
Rebound Continues Ahead of US-Iran Negotiate
US: While Israel and Lebanon engaged in direct negotiations, we believe Wall Street’s rebound yesterday mainly reflected optimism regarding this weekend’s US–Iran negotiations. However, investors should expect a seesaw trading environment moving forward, depending on the negotiation outcomes and the participants' commitment to the truce. Meanwhile, with February’s 3% PCE growth exceeding the Fed's 2% target, prior to accounting for recent oil price spikes; a continued hawkish Fed in 2026 may also create another round of value-hunting opportunities this year. Lastly, following the broader chipmaker rally, investors could rotate into Nvidia, which is hovering above its MA200, offering an attractive entry point.
MY: In view of US positive overnight performance, we believe buying support may emerge on the local bourse. Meanwhile, following the closure of rubber glove maker WRP Asia Pacific Sdn Bhd, which cited significant cost increases in raw materials and chemicals stemming from the Middle East conflict, other glove producers such as Top Glove, Hartalega, and Kossan experienced a resurgence in buying interest. This is as the reduction in glove supply is expected to drive higher ASPs. Lastly, investors could position themselves in Coraza, which reported outperforming FY25 results following a surge in demand for front-end wafer fabrication equipment.
Stocks to watch:
O&G: *ARMADA*, *DAYANG*, DELEUM
Gloves: *HARTA*, *KOSSAN*
Consumer: SEMICO, *TGUAN*
Plantation: IOICORP, *TAANN*
Automotive: *BETA*
**Source: M+ Global**
Rebound Continues Ahead of US-Iran Negotiate
US: While Israel and Lebanon engaged in direct negotiations, we believe Wall Street’s rebound yesterday mainly reflected optimism regarding this weekend’s US–Iran negotiations. However, investors should expect a seesaw trading environment moving forward, depending on the negotiation outcomes and the participants' commitment to the truce. Meanwhile, with February’s 3% PCE growth exceeding the Fed's 2% target, prior to accounting for recent oil price spikes; a continued hawkish Fed in 2026 may also create another round of value-hunting opportunities this year. Lastly, following the broader chipmaker rally, investors could rotate into Nvidia, which is hovering above its MA200, offering an attractive entry point.
MY: In view of US positive overnight performance, we believe buying support may emerge on the local bourse. Meanwhile, following the closure of rubber glove maker WRP Asia Pacific Sdn Bhd, which cited significant cost increases in raw materials and chemicals stemming from the Middle East conflict, other glove producers such as Top Glove, Hartalega, and Kossan experienced a resurgence in buying interest. This is as the reduction in glove supply is expected to drive higher ASPs. Lastly, investors could position themselves in Coraza, which reported outperforming FY25 results following a surge in demand for front-end wafer fabrication equipment.
Stocks to watch:
O&G: *ARMADA*, *DAYANG*, DELEUM
Gloves: *HARTA*, *KOSSAN*
Consumer: SEMICO, *TGUAN*
Plantation: IOICORP, *TAANN*
Automotive: *BETA*
**Source: M+ Global**
M+ Morning Market Buzz - 10Apr26
Dow Jones: 48,185.80 pts (+275.88pts, +0.58%)
⬆️ Resistance: 49300
⬇️ Support: 45300
FBM KLCI: 1,686.24 pts (-10.07pts, -0.59%)
⬆️ Resistance: 1750
⬇️ Support: 1640
HSI Index: 25,752.40 pts (-140.62pts, -0.54%)
⬆️ Resistance: 26500
⬇️ Support: 25200
Crude Palm Oil: RM4,643 (+RM33, +0.71%)
⬆️ Resistance: 4970
⬇️ Support: 4470
Brent Oil: $95.92 (+$1.17, +1.23%)
⬆️ Resistance: 114.20
⬇️ Support: 88.60
Gold: $4,766.89 (-$8.67, -0.09%)
⬆️ Resistance: 4960
⬇️ Support: 4510
Source: Bloomberg, M+ Global
Dow Jones: 48,185.80 pts (+275.88pts, +0.58%)
⬆️ Resistance: 49300
⬇️ Support: 45300
FBM KLCI: 1,686.24 pts (-10.07pts, -0.59%)
⬆️ Resistance: 1750
⬇️ Support: 1640
HSI Index: 25,752.40 pts (-140.62pts, -0.54%)
⬆️ Resistance: 26500
⬇️ Support: 25200
Crude Palm Oil: RM4,643 (+RM33, +0.71%)
⬆️ Resistance: 4970
⬇️ Support: 4470
Brent Oil: $95.92 (+$1.17, +1.23%)
⬆️ Resistance: 114.20
⬇️ Support: 88.60
Gold: $4,766.89 (-$8.67, -0.09%)
⬆️ Resistance: 4960
⬇️ Support: 4510
Source: Bloomberg, M+ Global
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Good Morning All,
We issued a technical buy call on Coraza Integrated Technology Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) AI-driven WFE demand surge
(ii) Capacity expansion to fuel stronger revenue growth
(iii) Recovery in aerospace segment
Research Team, M+
10 April 2026
We issued a technical buy call on Coraza Integrated Technology Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) AI-driven WFE demand surge
(ii) Capacity expansion to fuel stronger revenue growth
(iii) Recovery in aerospace segment
Research Team, M+
10 April 2026
M+ Global Market Wrap - 10Apr26
FBM KLCI: 1,691.31 pts (+5.07pts, +0.30%)
The FBM KLCI (+0.30%) closed higher at 1691.31 points as Israel sought talks with Lebanon, raising hopes for a break in the Middle East hostilities and the resumption of oil passage through the Strait of Hormuz. The market breadth was positive, with 663 winners against 400 losers. Sector wise, Technology (+2.13%) outperformed, led by VITROX (+16.0sen) and UWC (+24.0sen), while Telecommunications & Media (-0.76%) declined the most.
Top 3 Active stocks:
BORNOIL (7036): RM0.005 (UNCH)
TOPGLOV (7113): RM0.850 (+1.5 sen)
ZETRIX (0138): RM0.755 (+0.5sen)
Top 3 Gainer stocks:
F&N (3689): RM29.80 (+72.0 sen)
MPI (3867): RM29.80 (+46.0 sen)
SUNCON (5263): RM6.85 (+32.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM99.00 (-110.0 sen)
PETDAG (5681): RM20.80 (-60.0 sen)
KLK (2445): RM21.94 (-26.0 sen)
Volume: 2.89 bn (100-bar avg vol: 3.15 bn)
Value: RM2.61 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️663 ⬇️400
Crude Palm Oil: RM4,643 (-RM59, -1.27%)
Dow Futures: 48,285 pts (-131 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,691.31 pts (+5.07pts, +0.30%)
The FBM KLCI (+0.30%) closed higher at 1691.31 points as Israel sought talks with Lebanon, raising hopes for a break in the Middle East hostilities and the resumption of oil passage through the Strait of Hormuz. The market breadth was positive, with 663 winners against 400 losers. Sector wise, Technology (+2.13%) outperformed, led by VITROX (+16.0sen) and UWC (+24.0sen), while Telecommunications & Media (-0.76%) declined the most.
Top 3 Active stocks:
BORNOIL (7036): RM0.005 (UNCH)
TOPGLOV (7113): RM0.850 (+1.5 sen)
ZETRIX (0138): RM0.755 (+0.5sen)
Top 3 Gainer stocks:
F&N (3689): RM29.80 (+72.0 sen)
MPI (3867): RM29.80 (+46.0 sen)
SUNCON (5263): RM6.85 (+32.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM99.00 (-110.0 sen)
PETDAG (5681): RM20.80 (-60.0 sen)
KLK (2445): RM21.94 (-26.0 sen)
Volume: 2.89 bn (100-bar avg vol: 3.15 bn)
Value: RM2.61 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️663 ⬇️400
Crude Palm Oil: RM4,643 (-RM59, -1.27%)
Dow Futures: 48,285 pts (-131 pts)
**Source: M+ Global, Bloomberg **
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