M+ Global Market Update – 28May26
Oil Price Continued To Retreat Further

US: With the upcoming IPO of SpaceX, we think buying interest will be sustained in Google, given Google’s 6.11% stake in SpaceX. Technically, Google is well-supported above the EMA20 and is poised for a breakout. Meanwhile, although initially clouded by AI-monetisation scepticism, we believe the narrative has changed for Amazon, given (i) Anthropic’s commitment to spend more than USD100bn on AWS over the next 10 years and (ii) Meta’s multi-year, multi-billion-dollar deal to deploy Amazon's custom AWS Graviton5 chips to power Meta's next-generation AI workloads. Technically, Amazon is also supported above the EMA20 and has just initiated a breakout. US Q1 GDP data and April’s Core PCE Index will be released later today.

MY: Tracking Wall Street’s positive performance, we think the FBM KLCI may rebound today. Meanwhile, we remain optimistic about solar counters, particularly SLVEST and PEKAT, as technically their share prices have recovered from their recent dips, while fundamentally they are supported by strong earnings, the LSS5 and LSS5+ construction boom, and ongoing government initiatives such as the NETR and CGPP. Lastly, we also favour both AMS and 3REN, with the former benefitting from the ongoing semiconductor boom, while the latter benefits from Intel’s multi-billion-dollar advanced packaging hub expansion in Malaysia.

Stocks to watch:

Technology: *AMBEST*, CPETECH, *DUFU*, KGB, *OGX*, *SFPTECH*
Construction: HEGROUP, *PWRWELL*
Solar: *PEKAT*
Utility: *KENERGY*
Automotive: BETA
Commodity: MSC

**Source: M+ Global**

EG Industries Delivers Strong 3Q26 Results

EG Industries’ (EG) 3Q26 (FYE 30 Jun’26) net profit surged 75.7% YoY to MYR22.1 million, driven by stronger profit margins, while revenue remained stable at MYR301.6 million on higher sales of 5G optical modules and wireless broadband products.

For 9M26, net profit rose 32.6% to MYR81.9 million as revenue grew 4.4% to MYR1.03 billion. EG remains optimistic on demand from the 5G, broadband and data centre sectors.

EG recently secured a MYR949 million order for 800G optical modules and wireless broadband products, providing stronger earnings visibility going forward.

With stronger earnings and a MYR949 million order boosting growth visibility, bullish investors may consider EG-CN, which offers 3.5x of Effective Gearing for leveraged exposure to EG Industries.

#WarrantsWatch

*Trading Stocks today:*

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

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

*Malaysia*:
*Unique Fire Holdings (0257)* (RM0.42): Technical Buy
Targets: RM0.44, RM0.465
Stop: RM0.38

*Pekat Group (0233)* (RM1.60): Technical Buy
Targets: RM1.68, RM1.75
Stop: RM1.48

*Fundamental Report(s):*

*ASEAN: Plantations* - Policy overhang, opportunities emerge (Maintain Overweight) https://tinyurl.com/5h7p2pkh

*CIMB Group Holdings Bhd* - Better NIM outlook in 2Q26F (Maintain Add with a lower TP of RM9.60) https://tinyurl.com/bdevsvu8

*Hong Leong Bank* - Better NIM outlook in 4QFY26F (Maintain Add with a TP of RM31.70) https://tinyurl.com/2e6x3udh

*Sunway Bhd* - Strong property sales driven by Singapore (Maintain Hold with a TP of RM5.95) https://tinyurl.com/3vn8xzdf

*Kumpulan Kitacon Bhd* - 1QFY26 within expectations (Maintain Add with a TP of RM1.26) https://tinyurl.com/ycy8v6tb

*UOA Development* - 1Q below; Aethera to drive sales ahead (Maintain Hold with a lower TP of RM1.77) https://tinyurl.com/2cxrr6rt

*Optimax Holdings* - Look beyond this soft 1Q26 amid festivities (Maintain Add with a TP of RM0.76) https://tinyurl.com/5b62me8k

*Petronas Chemicals Group* - Will PCG also dispose of PPC to Petronas? (Maintain Add with a TP of RM6.58) https://tinyurl.com/fyr5yj62

*WCT Holdings* - Subdued quarter; it still needs more wins (Maintain Add with a TP of RM1.12) https://tinyurl.com/2s42b9uy


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*28th 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
28 May 2026

FBMKLCI: 1,699.02 (-9.48)
Support: 1,700, 1,672
Resistance: 1,773, 1,800

Bursa Top Gainers:
PCHEM (+2.6%), KLK (+2.6%), AMBANK (+1.1%)

Bursa Top Losers:
AXIATA (-3.5%), SUNWAY (-2.8%), 99SMART (-2.6%)

Bursa Trade Statistics
Local Institutions (43.44%): +RM260.00M
Local Retail (27.31%): +RM112.00M
Foreign (29.25%): -RM372.00M

Global Equity Indexes
MSCI Asia : 273.44 (-1.46, -0.53%)
NASDAQ : 26,674.73 (+18.55, +0.07%)
S&P500 : 7,520.36 (+1.24, +0.02%)
DJIA : 50,644.28 (+182.60, +0.36%)

USD/MYR : 3.9650 (+0.0101)
SGD/MYR : 3.1059 (+0.0102)

Crude Oil (Brent) : $95.75 (-2.09)
Gold : $4,449.32 (-103.62)


US stocks were higher after the close on Wednesday, as gains in the Consumer Goods, Consumer Services and Healthcare sectors led shares higher. At the close in NYSE, the Dow Jones Industrial Average rose 0.36% to hit a new all-time high, while the S&P 500 index added 0.02%, and the NASDAQ Composite index added 0.07%. Rising stocks outnumbered declining ones on the New York Stock Exchange by 1,373 to 1,343 and 117 ended unchanged; on the Nasdaq Stock Exchange, 1,743 fell and 1,677 advanced, while 192 ended unchanged. (Source: Investing.com)

Stocks To Watch:

1) CYPARK (KLSE: 5184)
Technical BUY on breakout (RM 0.71) with +19.0% potential return
* Last price: RM0.685
* Target price: RM0.795, RM0.845
* Support: RM0.645
* Stop-loss: RM0.64
* Timeframe: 2 weeks to 2 months
* Shariah: YES

2) DUFU (KLSE: 7233)
Technical BUY with +23.1% potential return
* Last price: RM1.82
* Target price: RM2.13, RM2.24
* Support: RM1.68
* Stop-loss: RM1.67
* Timeframe: 2 weeks to 2 months
* Shariah: YES

3) GEOHAN (KLSE: 5345)
Technical BUY with +34.9% potential return
* Last price: RM0.315
* Target price: RM0.425, RM0.495
* Support: RM0.27
* Stop-loss: RM0.265
* 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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