M+ Global Market Update – 26May26
Oil Retreated Amid Middle East Peace Deal Progress

US: Following President Trump’s announcement that talks to end the US–Iran conflict are proceeding in an orderly and constructive manner, Brent crude has crashed below the USD99 mark and is expected to bode well for airline stocks. Stock-wise, we remain optimistic on our previous technical pick, Nextpower Inc., underpinned by its recent earnings outperformance, its JV in Saudi Arabia for a 2.25GW supply commitment to one of the world’s largest utility-scale plants, and the integration of AI software into its solar trackers. Lastly, investors will continue to focus on the upcoming earnings of hardware heavyweights Dell and HP this week.

MY: As the Middle East peace deal progresses, we believe sentiment will continue to bode well for regional markets, including the FBM KLCI. Meanwhile, we view the sharp sell-downs in REITs as value-picking opportunities for dividend investors, favouring PAVREIT, SUNREIT, and IGBCR due to their strong fundamentals and attractive dividend yields. Lastly, we continue to favour VSTECS and AGMO; the former is benefitting from the ongoing data centre boom in the country, which requires more of VSTECS’ enterprise servers and infrastructure, while the latter might see increased institutional interest following its transfer of listing from the ACE to the Main Market in April.

Stocks to watch:

Technology: 3REN, *ATECH*, *GOHUB*, GREATEC, INARI, KGB, KOBAY
Construction: *ISF*, *MITRA*, *OGX*
Solar: *SLVEST*

**Source: M+ Global**

*Trading Stocks today:*

For *Trendspotter*, please click on this link: < https://tinyurl.com/2zjnwh3j > to view the report.

Or please logon to your account on http://www.cgsi.com.my/ and click on <Research> Tab.

*Malaysia*:
*Northern Solar Holdings (0340)* (RM0.68): Technical Buy
Targets: RM0.735, RM0.75
Stop: RM0.61

*Agmo Holdings (0258)* (RM0.395): Technical Buy
Targets: RM0.41, RM0.435
Stop: RM0.365

*Fundamental Report(s):*

*Sum Technology IPO* - One-stop MEPF cleanroom specialist (Trading Lens - Non-rated) https://tinyurl.com/yuxy6ykw

*Bank Islam Malaysia Bhd* - Two consecutive quarters of NFM expansion (Maintain Add with a lower TP of RM2.87) https://tinyurl.com/fvfuvb3h

*MISC Bhd* - 2Q26F results should step up from 1Q26 (Maintain Add with a higher TP of RM9.17) https://tinyurl.com/zmdeec5j

*Tenaga Nasional* - Strong showing by GenCo (Maintain Add with a TP of RM16.60) https://tinyurl.com/3asn3ha9

*Hap Seng Plantations* - Earnings momentum remains intact (Maintain Add with a TP of RM3.35) https://tinyurl.com/yzdmxrxk

*Sime Darby Bhd* - Results in line, outlook intact (Maintain Add with a TP of RM2.50) https://tinyurl.com/2s3sb4dv

*Axiata Group* - RNAV update post in-line 1Q26 results (Maintain Add with a lower TP of RM2.87) https://tinyurl.com/y424yy9u

*7-Eleven Malaysia Holdings* - High costs delay rewards (Maintain Reduce with a TP of RM1.40) https://tinyurl.com/yc763cdt

*Hibiscus Petroleum Bhd* - Raising FY26-28F forecasts materially (Maintain Add with a higher TP of RM2.85) https://tinyurl.com/m3mrvk8d

*KPJ Healthcare* - Staying on steady growth trajectory (Maintain Add with a higher TP of RM4.10) https://tinyurl.com/3uuajcjn



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*26th May 2026*

Disclaimers: This distribution is by CGS International Securities Malaysia Sdn. Bhd. (“CGS MY”) in Malaysia only. The views are our own as of this date and subject to change. No further distribution is allowed without our prior written consent. CGS MY, its related corporations, affiliates and business partners make no recommendation, offer or invitation to transact in any securities, futures contracts or other instruments. Please make your independent evaluation, consider your own investment objectives and financial situation and consult your own professional advisers before participating in any transaction.

UOBKH Retail Market Monitor
26 May 2026

FBMKLCI: 1,708.50 (-4.17)
Support: 1,700, 1,672
Resistance: 1,773, 1,800

Bursa Top Gainers:
AXIATA (+3.6%), PETGAS (+0.82%), YTLPOWR (+2.5%)

Bursa Top Losers:
PCHEM (-6.3%), MRDIY (-2.5%), IOICORP (-2.0%)

Bursa Trade Statistics
Local Institutions (43.63%): +RM72.59M
Local Retail (31.18%): +RM56.22M
Foreign (26.29%): -RM128.11M

Global Equity Indexes
MSCI Asia : 269.87 (+0.88, +0.33%)
NASDAQ : 26,343.97 (+50.87, +0.19%)
S&P500 : 7,473.47 (+27.75, +0.37%)
DJIA : 50,579.70 (+294.04, +0.58%)

USD/MYR : 3.9549 (+0.0049)
SGD/MYR : 3.0957 (+0.0015)

Crude Oil (Brent) : $97.84 (+1.54)
Gold : $4,552.94 (-18.23)


US market closed for public holiday.

Stocks To Watch:

1) KENERGY (KLSE: 0307)
Technical BUY on breakout with +30.3% potential return
* Last price: RM0.545
* Target price: RM0.665, RM0.71
* Support: RM0.50
* Stop-loss: RM0.495
* Timeframe: 2 weeks to 2 months
* Shariah: YES

2) MCEHLDG (KLSE: 7004)
Technical BUY with +15.3% potential return
* Last price: RM1.50
* Target price: RM1.62, RM1.73
* Support: RM1.42
* Stop-loss: RM1.41
* Timeframe: 2 weeks to 2 months
* Shariah: YES

3) SSB8 (KLSE: 0045)
Technical BUY with +21.9% potential return
* Last price: RM0.57
* Target price: RM0.63, RM0.695
* Support: RM0.535
* Stop-loss: RM0.53
* Timeframe: 2 weeks to 2 months
* Shariah: YES

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Disclaimer:
This material is a service for investors and does not represent a buy or sell call. Usage of this information is at your own risk. You are advised to conduct your own independent evaluation, due diligence and risk assessment before investing. We accept no liability whatsoever for any direct or consequential loss arising from any use of this information.

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