Good Morning All,
We issued a technical buy call on Malaysia Smelting Corp Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Record tin prices to continue uplift earnings
(ii) RHT mine throughput expansion adds organic volume growth
(iii) New Pulau Indah smelter to deliver cost savings
Research Team, M+ Global
16 April 2026
We issued a technical buy call on Malaysia Smelting Corp Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Record tin prices to continue uplift earnings
(ii) RHT mine throughput expansion adds organic volume growth
(iii) New Pulau Indah smelter to deliver cost savings
Research Team, M+ Global
16 April 2026
M+ Global Market Wrap - 16Apr26
FBM KLCI: 1,689.71 pts (+6.29pts, +0.37%)
The FBM KLCI (+0.37%) closed higher at 1689.71 points as optimism grew over a possible deal to end the conflict in West Asia. The market breadth was positive, with 753 winners against 486 losers. Sector wise, Technology (+2.86%) outperformed, led by INARI (+12.0sen) and FRONTKN (+21.0sen), while Energy (-0.82%) declined the most. The IPO debutant GDGROUP closed at RM0.40 compared to its IPO price of 0.45 sen.
Top 3 Active stocks:
BORNOIL (7036): RM0.005 (UNCH)
ZETRIX (0138): RM0.825 (+3.5 sen)
GDGROUP (0398): RM0.400 (-5.0 sen)
Top 3 Gainer stocks:
MPI (3867): RM33.98 (+98.0 sen)
F&N (3794): RM30.68 (+58.0 sen)
UTDPLT (2089): RM33.56 (+56.0 sen)
Top 3 Loser stocks:
KLK (2445): RM21.08 (-42.0 sen)
PPB (4065): RM11.54 (-18.0 sen)
GASMSIA (5209): RM5.38 (-14.0 sen)
Volume: 3.77 bn (100-bar avg vol: 3.12 bn)
Value: RM3.46 bn (100-bar avg val: RM3.06 bn)
Market Breadth: ⬆️753 ⬇️486
Crude Palm Oil: RM4,497 (+RM4, +0.09%)
Dow Futures: 48,686 pts (+17 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,689.71 pts (+6.29pts, +0.37%)
The FBM KLCI (+0.37%) closed higher at 1689.71 points as optimism grew over a possible deal to end the conflict in West Asia. The market breadth was positive, with 753 winners against 486 losers. Sector wise, Technology (+2.86%) outperformed, led by INARI (+12.0sen) and FRONTKN (+21.0sen), while Energy (-0.82%) declined the most. The IPO debutant GDGROUP closed at RM0.40 compared to its IPO price of 0.45 sen.
Top 3 Active stocks:
BORNOIL (7036): RM0.005 (UNCH)
ZETRIX (0138): RM0.825 (+3.5 sen)
GDGROUP (0398): RM0.400 (-5.0 sen)
Top 3 Gainer stocks:
MPI (3867): RM33.98 (+98.0 sen)
F&N (3794): RM30.68 (+58.0 sen)
UTDPLT (2089): RM33.56 (+56.0 sen)
Top 3 Loser stocks:
KLK (2445): RM21.08 (-42.0 sen)
PPB (4065): RM11.54 (-18.0 sen)
GASMSIA (5209): RM5.38 (-14.0 sen)
Volume: 3.77 bn (100-bar avg vol: 3.12 bn)
Value: RM3.46 bn (100-bar avg val: RM3.06 bn)
Market Breadth: ⬆️753 ⬇️486
Crude Palm Oil: RM4,497 (+RM4, +0.09%)
Dow Futures: 48,686 pts (+17 pts)
**Source: M+ Global, Bloomberg **
😁2
M+ Morning Market Buzz - 17Apr26
Dow Jones: 48,578.72 pts (+115.00pts, +0.24%)
⬆️ Resistance: 49700
⬇️ Support: 46600
FBM KLCI: 1,689.71 pts (+6.29pts, +0.37%)
⬆️ Resistance: 1730
⬇️ Support: 1650
HSI Index: 26,394.26 pts (+446.94pts, +1.72%)
⬆️ Resistance: 27000
⬇️ Support: 25000
Crude Palm Oil: RM4,495 (+RM20, +0.44%)
⬆️ Resistance: 4780
⬇️ Support: 4330
Brent Oil: $99.39 (+$4.46, +4.70%)
⬆️ Resistance: 106.00
⬇️ Support: 92.10
Gold: $4,790.06 (+$6.98, +0.15%)
⬆️ Resistance: 4970
⬇️ Support: 4560
Source: Bloomberg, M+ Global
Dow Jones: 48,578.72 pts (+115.00pts, +0.24%)
⬆️ Resistance: 49700
⬇️ Support: 46600
FBM KLCI: 1,689.71 pts (+6.29pts, +0.37%)
⬆️ Resistance: 1730
⬇️ Support: 1650
HSI Index: 26,394.26 pts (+446.94pts, +1.72%)
⬆️ Resistance: 27000
⬇️ Support: 25000
Crude Palm Oil: RM4,495 (+RM20, +0.44%)
⬆️ Resistance: 4780
⬇️ Support: 4330
Brent Oil: $99.39 (+$4.46, +4.70%)
⬆️ Resistance: 106.00
⬇️ Support: 92.10
Gold: $4,790.06 (+$6.98, +0.15%)
⬆️ Resistance: 4970
⬇️ Support: 4560
Source: Bloomberg, M+ Global
😁2
M+ Global Market Update – 17Apr26
Record Highs Amid US-Iran Diplomacy Progress
US: Following President Trump's optimism towards the progress of Pakistan-mediated talks, we anticipate Wall Street to maintain its bullish bias in the near term. Sentiment is further underpinned by the blockbuster Philadelphia Fed manufacturing index and Morgan Stanley’s record 1Q26 results, which should bode well for other banking stocks. Regarding the AI theme, we believe investors should wait for pullback entry opportunities among custom silicon leaders like Broadcom and Marvell, which continue to secure hyperscaler design wins. Lastly, as gold remains well-supported above the US$4,700 level, traders could revisit Agnico Eagle Mines, while monitoring the impact of the SEC's new day trading rules on market liquidity.
MY: We anticipate Wall Street’s positive overnight performance will spill over into the local bourse today. Meanwhile, buying interest continues to gravitate towards the East Malaysia theme: (i) HKB continues to scale new all-time highs on the back of its RM563.1m order book; (ii) IAB has staged a breakout, poised to benefit from Sarawak’s RM100bn infrastructure push; and (iii) LWSABAH limit-up. On the consumer sector, 99SMART rose amid continued EPF accumulation and a potential surge in footfall as consumers shop ahead of war-induced inflation. Lastly, EMPIRE (M+ TP:RM0.93) will make its Main Market debut today.
Stocks to watch:
Construction: *CBHB*, *ISF*, KEEMING, SUNCON
Consumer: *99SMART*, *KOPI*, *TGUAN*
Technology: *LGMS*, VITROX
Financial: *MNRB*
**Source: M+ Global**
Record Highs Amid US-Iran Diplomacy Progress
US: Following President Trump's optimism towards the progress of Pakistan-mediated talks, we anticipate Wall Street to maintain its bullish bias in the near term. Sentiment is further underpinned by the blockbuster Philadelphia Fed manufacturing index and Morgan Stanley’s record 1Q26 results, which should bode well for other banking stocks. Regarding the AI theme, we believe investors should wait for pullback entry opportunities among custom silicon leaders like Broadcom and Marvell, which continue to secure hyperscaler design wins. Lastly, as gold remains well-supported above the US$4,700 level, traders could revisit Agnico Eagle Mines, while monitoring the impact of the SEC's new day trading rules on market liquidity.
MY: We anticipate Wall Street’s positive overnight performance will spill over into the local bourse today. Meanwhile, buying interest continues to gravitate towards the East Malaysia theme: (i) HKB continues to scale new all-time highs on the back of its RM563.1m order book; (ii) IAB has staged a breakout, poised to benefit from Sarawak’s RM100bn infrastructure push; and (iii) LWSABAH limit-up. On the consumer sector, 99SMART rose amid continued EPF accumulation and a potential surge in footfall as consumers shop ahead of war-induced inflation. Lastly, EMPIRE (M+ TP:RM0.93) will make its Main Market debut today.
Stocks to watch:
Construction: *CBHB*, *ISF*, KEEMING, SUNCON
Consumer: *99SMART*, *KOPI*, *TGUAN*
Technology: *LGMS*, VITROX
Financial: *MNRB*
**Source: M+ Global**
Good Morning All,
Here’s our IPO note on Inspace Creation Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.36 for INSPACE, indicating a 44.0% upside from the IPO price of RM0.25. This valuation is based on a P/E multiple of 12.5x pegged to mid-FY27f EPS of 2.88 sen.
Investment highlights include:
(i) Benefitting from various market conditions
(ii) Grade G7 CIDB registration for unlimited tender
(iii) New revenue sources through geographical and sector expansions
(iv) Storage and mock-up space establishment to drive cost efficiency and client conversion
(v) Market share poised for growth
Research Team, M+ Global
17 Apr 26
Here’s our IPO note on Inspace Creation Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.36 for INSPACE, indicating a 44.0% upside from the IPO price of RM0.25. This valuation is based on a P/E multiple of 12.5x pegged to mid-FY27f EPS of 2.88 sen.
Investment highlights include:
(i) Benefitting from various market conditions
(ii) Grade G7 CIDB registration for unlimited tender
(iii) New revenue sources through geographical and sector expansions
(iv) Storage and mock-up space establishment to drive cost efficiency and client conversion
(v) Market share poised for growth
Research Team, M+ Global
17 Apr 26
M+ Global Market Wrap - 17Apr26
FBM KLCI: 1,695.21 pts (+5.50pts, +0.33%)
The FBM KLCI (+0.33%) closed higher at 1695.21 points as DOSM projected Malaysia's economy to grow at 5.3% in the first quarter of 2026. The market breadth was positive, with 611 winners against 476 losers. Sector wise, REIT (+0.94%) outperformed, led by SUNREIT (+7.0sen) and IGBREIT (+3.0sen), while Healthcare (-0.60%) declined the most. The IPO debutant EMPIRE closed at RM1.04 compared to its IPO price of RM0.70.
Top 3 Active stocks:
BORNOIL (7036): RM0.005 (UNCH)
ZETRIX (0138): RM0.835 (+1.0 sen)
EMPIRE (5351): RM1.04 (+34.0 sen)
Top 3 Gainer stocks:
ALLIANZ (1163): RM21.20 (+50.0 sen)
EMPIRE (5351): RM1.04 (+34.0 sen)
UTDPLT (2089): RM34.18 (+62.0 sen)
Top 3 Loser stocks:
PETDAG (5681): RM20.58 (-26.0 sen)
KESM (9334): RM3.23 (-12.0 sen)
BKAWAN (1899): RM21.10 (-10.0 sen)
Volume: 3.46 bn (100-bar avg vol: 3.11 bn)
Value: RM3.08 bn (100-bar avg val: RM3.06 bn)
Market Breadth: ⬆️611 ⬇️476
Crude Palm Oil: RM4,495 (-RM16, -0.36%)
Dow Futures: 48,931 pts (+164 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,695.21 pts (+5.50pts, +0.33%)
The FBM KLCI (+0.33%) closed higher at 1695.21 points as DOSM projected Malaysia's economy to grow at 5.3% in the first quarter of 2026. The market breadth was positive, with 611 winners against 476 losers. Sector wise, REIT (+0.94%) outperformed, led by SUNREIT (+7.0sen) and IGBREIT (+3.0sen), while Healthcare (-0.60%) declined the most. The IPO debutant EMPIRE closed at RM1.04 compared to its IPO price of RM0.70.
Top 3 Active stocks:
BORNOIL (7036): RM0.005 (UNCH)
ZETRIX (0138): RM0.835 (+1.0 sen)
EMPIRE (5351): RM1.04 (+34.0 sen)
Top 3 Gainer stocks:
ALLIANZ (1163): RM21.20 (+50.0 sen)
EMPIRE (5351): RM1.04 (+34.0 sen)
UTDPLT (2089): RM34.18 (+62.0 sen)
Top 3 Loser stocks:
PETDAG (5681): RM20.58 (-26.0 sen)
KESM (9334): RM3.23 (-12.0 sen)
BKAWAN (1899): RM21.10 (-10.0 sen)
Volume: 3.46 bn (100-bar avg vol: 3.11 bn)
Value: RM3.08 bn (100-bar avg val: RM3.06 bn)
Market Breadth: ⬆️611 ⬇️476
Crude Palm Oil: RM4,495 (-RM16, -0.36%)
Dow Futures: 48,931 pts (+164 pts)
**Source: M+ Global, Bloomberg **
😁2
M+ Morning Market Buzz - 20Apr26
Dow Jones: 49,447.43 pts (+868.71pts, +1.79%)
⬆️ Resistance: 50800
⬇️ Support: 46600
FBM KLCI: 1,695.21 pts (+5.50pts, +0.33%)
⬆️ Resistance: 1740
⬇️ Support: 1650
HSI Index: 26,160.33 pts (-233.93pts, -0.89%)
⬆️ Resistance: 27000
⬇️ Support: 25000
Crude Palm Oil: RM4,450 (-RM45, -1.00%)
⬆️ Resistance: 4690
⬇️ Support: 4330
Brent Oil: $90.38 (+$5.26, -9.07%)
⬆️ Resistance: 106.00
⬇️ Support: 84.40
Gold: $4,830.34 (-$58.13, +0.84%)
⬆️ Resistance: 4990
⬇️ Support: 4560
Source: Bloomberg, M+ Global
Dow Jones: 49,447.43 pts (+868.71pts, +1.79%)
⬆️ Resistance: 50800
⬇️ Support: 46600
FBM KLCI: 1,695.21 pts (+5.50pts, +0.33%)
⬆️ Resistance: 1740
⬇️ Support: 1650
HSI Index: 26,160.33 pts (-233.93pts, -0.89%)
⬆️ Resistance: 27000
⬇️ Support: 25000
Crude Palm Oil: RM4,450 (-RM45, -1.00%)
⬆️ Resistance: 4690
⬇️ Support: 4330
Brent Oil: $90.38 (+$5.26, -9.07%)
⬆️ Resistance: 106.00
⬇️ Support: 84.40
Gold: $4,830.34 (-$58.13, +0.84%)
⬆️ Resistance: 4990
⬇️ Support: 4560
Source: Bloomberg, M+ Global
👍2😁2
M+ Global Market Update – 20Apr26
Iran Closes The Strait of Hormuz Again
US: Following Iran's announcement of the renewed closure of the Strait of Hormuz, citing alleged US ceasefire violations regarding its continued blockade of Iranian ports, we anticipate that Wall Street’s optimism will partially subside as the market awaits greater clarity on the Middle East conflict. Meanwhile, we maintain a positive outlook on banking stocks, buoyed by their strong Q1 2026 results; JPMorgan and Goldman Sachs remain on our radar. Finally, given the persistent CPU shortage fuelled by robust demand for AI computing, we view any pullback in AMD, Intel, and Arm Holdings as attractive 'buy-the-dip' opportunities.
MY: In view of Iran’s renewed closure of the Strait of Hormuz, we expect the local bourse to adopt a cautious, wait-and-see approach. Meanwhile, we reiterate our optimism regarding MNHLDG, following its recent RM 275.9m contract win to undertake electrical infrastructure works for a data centre; peer CBHB is also benefiting from similar structural tailwinds. Water and piping-related companies, such as ISF and Ranhill, have also attracted increasing buying interest, with the former recently announcing a RM 22.5m contract win for cold water and sanitary plumbing services. Lastly, we favour SCGBHD, as it serves as a proxy for Tenaga’s grid upgrades, with its share price having reclaimed the MA200 level.
Stocks to watch:
Consumer: *AQUAWALK*, CAPITALA, *GCB*
Technology: *GOHUB*, *NE*, THMY
Construction: *MNHLDG*
Property: *LBS*
Financial: MNRB
Utility: *RANHILL*
**Source: M+ Global**
Iran Closes The Strait of Hormuz Again
US: Following Iran's announcement of the renewed closure of the Strait of Hormuz, citing alleged US ceasefire violations regarding its continued blockade of Iranian ports, we anticipate that Wall Street’s optimism will partially subside as the market awaits greater clarity on the Middle East conflict. Meanwhile, we maintain a positive outlook on banking stocks, buoyed by their strong Q1 2026 results; JPMorgan and Goldman Sachs remain on our radar. Finally, given the persistent CPU shortage fuelled by robust demand for AI computing, we view any pullback in AMD, Intel, and Arm Holdings as attractive 'buy-the-dip' opportunities.
MY: In view of Iran’s renewed closure of the Strait of Hormuz, we expect the local bourse to adopt a cautious, wait-and-see approach. Meanwhile, we reiterate our optimism regarding MNHLDG, following its recent RM 275.9m contract win to undertake electrical infrastructure works for a data centre; peer CBHB is also benefiting from similar structural tailwinds. Water and piping-related companies, such as ISF and Ranhill, have also attracted increasing buying interest, with the former recently announcing a RM 22.5m contract win for cold water and sanitary plumbing services. Lastly, we favour SCGBHD, as it serves as a proxy for Tenaga’s grid upgrades, with its share price having reclaimed the MA200 level.
Stocks to watch:
Consumer: *AQUAWALK*, CAPITALA, *GCB*
Technology: *GOHUB*, *NE*, THMY
Construction: *MNHLDG*
Property: *LBS*
Financial: MNRB
Utility: *RANHILL*
**Source: M+ Global**
😁3
M+ Global Market Wrap - 20Apr26
FBM KLCI: 1,702.30 pts (+7.09pts, +0.42%)
The FBM KLCI (+0.42%) closed higher at 1702.30 points despite news that the Strait of Hormuz is closed again. The market breadth however was negative, with 657 losers against 500 winners, signalling investors' caution on the uncertainty of the ongoing Middle East conflict. Sector wise, Technology (+1.21%) outperformed, led by INARI (+12.0sen) and GREATEC (+7.0sen), while Utilities (-1.26%) declined the most.
Top 3 Active stocks:
AAX (5238): RM1.30 (-3.0 sen)
ZETRIX (0138): RM0.855 (+2.0 sen)
INARI (0166): RM1.77 (+12.0 sen)
Top 3 Gainer stocks:
BIPORT (5032): RM5.59 (+24.0 sen)
MAYBANK (1155): RM11.34 (+24.0 sen)
F&N (3689): RM31.46 (+46.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM98.00 (-100.0 sen)
UTDPLT (2089): RM33.60 (-58.0 sen)
PETDAG (5681): RM20.20 (-38.0 sen)
Volume: 3.03 bn (100-bar avg vol: 3.10 bn)
Value: RM2.92 bn (100-bar avg val: RM3.06 bn)
Market Breadth: ⬆️500 ⬇️657
Crude Palm Oil: RM4,450 (+RM51, +1.15%)
Dow Futures: 49,378 pts (-263 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,702.30 pts (+7.09pts, +0.42%)
The FBM KLCI (+0.42%) closed higher at 1702.30 points despite news that the Strait of Hormuz is closed again. The market breadth however was negative, with 657 losers against 500 winners, signalling investors' caution on the uncertainty of the ongoing Middle East conflict. Sector wise, Technology (+1.21%) outperformed, led by INARI (+12.0sen) and GREATEC (+7.0sen), while Utilities (-1.26%) declined the most.
Top 3 Active stocks:
AAX (5238): RM1.30 (-3.0 sen)
ZETRIX (0138): RM0.855 (+2.0 sen)
INARI (0166): RM1.77 (+12.0 sen)
Top 3 Gainer stocks:
BIPORT (5032): RM5.59 (+24.0 sen)
MAYBANK (1155): RM11.34 (+24.0 sen)
F&N (3689): RM31.46 (+46.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM98.00 (-100.0 sen)
UTDPLT (2089): RM33.60 (-58.0 sen)
PETDAG (5681): RM20.20 (-38.0 sen)
Volume: 3.03 bn (100-bar avg vol: 3.10 bn)
Value: RM2.92 bn (100-bar avg val: RM3.06 bn)
Market Breadth: ⬆️500 ⬇️657
Crude Palm Oil: RM4,450 (+RM51, +1.15%)
Dow Futures: 49,378 pts (-263 pts)
**Source: M+ Global, Bloomberg **
👍2
M+ Global Market Update – 21Apr26
Wall Street Retreated Amid Peace Talks Uncertainty
US: With Iran’s refusal to participate in the second round of negotiations with the US, coupled with the expiration of the US-Iran ceasefire this week, we expect Wall Street to continue trading in an uncertain environment. Nevertheless, we remain optimistic about our technical picks in banking stocks, including JPMorgan, Goldman Sachs, and Bank of America, as they recently announced earnings outperformance and remain structurally on higher lows and higher highs. Lastly, if the Middle East conflict worsens and oil prices continue to rise, we view any pullback in chipmakers as buy-on-dip opportunities, supported by the AI computing and semiconductor upcycle.
MY: Tracking Wall Street’s negative overnight performance and the rebound in global oil prices, we expect the spillover effect to manifest in the local bourse while we await greater clarity on Middle East conflict developments. Nevertheless, we remain optimistic about utility players like SCGBHD, CBHB, and MNHLDG, as they continue to benefit from the country’s data centre boom and act as proxies for Tenaga’s grid upgrades. Traders could also position themselves in MCLEAN, as the company is poised to benefit from increased precision cleaning and sterilisation orders on the back of the semiconductor upcycle. Lastly, MTT shipping will make its Main Market debut today.
Stocks to watch:
Technology: *GREATEC*, *NE*, *SCICOM*, UWC
Financial: AEONCR, *MAYBANK*, PBBANK
Construction: MNHLDG, *SCGBHD*
Healthcare: *KPJ*
Property: LBS
**Source: M+ Global**
Wall Street Retreated Amid Peace Talks Uncertainty
US: With Iran’s refusal to participate in the second round of negotiations with the US, coupled with the expiration of the US-Iran ceasefire this week, we expect Wall Street to continue trading in an uncertain environment. Nevertheless, we remain optimistic about our technical picks in banking stocks, including JPMorgan, Goldman Sachs, and Bank of America, as they recently announced earnings outperformance and remain structurally on higher lows and higher highs. Lastly, if the Middle East conflict worsens and oil prices continue to rise, we view any pullback in chipmakers as buy-on-dip opportunities, supported by the AI computing and semiconductor upcycle.
MY: Tracking Wall Street’s negative overnight performance and the rebound in global oil prices, we expect the spillover effect to manifest in the local bourse while we await greater clarity on Middle East conflict developments. Nevertheless, we remain optimistic about utility players like SCGBHD, CBHB, and MNHLDG, as they continue to benefit from the country’s data centre boom and act as proxies for Tenaga’s grid upgrades. Traders could also position themselves in MCLEAN, as the company is poised to benefit from increased precision cleaning and sterilisation orders on the back of the semiconductor upcycle. Lastly, MTT shipping will make its Main Market debut today.
Stocks to watch:
Technology: *GREATEC*, *NE*, *SCICOM*, UWC
Financial: AEONCR, *MAYBANK*, PBBANK
Construction: MNHLDG, *SCGBHD*
Healthcare: *KPJ*
Property: LBS
**Source: M+ Global**
M+ Morning Market Buzz - 21Apr26
Dow Jones: 49,442.56 pts (-4.87pts, -0.01%)
⬆️ Resistance: 50800
⬇️ Support: 47300
FBM KLCI: 1,702.30 pts (+7.09pts, +0.42%)
⬆️ Resistance: 1740
⬇️ Support: 1650
HSI Index: 26,361.07 pts (+200.74pts, +0.77%)
⬆️ Resistance: 27000
⬇️ Support: 25200
Crude Palm Oil: RM4,498 (-RM4, -0.09%)
⬆️ Resistance: 4650
⬇️ Support: 4330
Brent Oil: $95.48 (+$5.10, +5.64%)
⬆️ Resistance: 101.80
⬇️ Support: 84.40
Gold: $4,820.66 (-$0.46, -0.01%)
⬆️ Resistance: 4990
⬇️ Support: 4650
Source: Bloomberg, M+ Global
Dow Jones: 49,442.56 pts (-4.87pts, -0.01%)
⬆️ Resistance: 50800
⬇️ Support: 47300
FBM KLCI: 1,702.30 pts (+7.09pts, +0.42%)
⬆️ Resistance: 1740
⬇️ Support: 1650
HSI Index: 26,361.07 pts (+200.74pts, +0.77%)
⬆️ Resistance: 27000
⬇️ Support: 25200
Crude Palm Oil: RM4,498 (-RM4, -0.09%)
⬆️ Resistance: 4650
⬇️ Support: 4330
Brent Oil: $95.48 (+$5.10, +5.64%)
⬆️ Resistance: 101.80
⬇️ Support: 84.40
Gold: $4,820.66 (-$0.46, -0.01%)
⬆️ Resistance: 4990
⬇️ Support: 4650
Source: Bloomberg, M+ Global
Good Morning All,
Here’s our IPO note on Manforce Group Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.40 per share for MFGROUP, indicating a 5.3% upside from the IPO price of RM0.38. This valuation is based on P/E ratio of 14.5x pegged to the mid-FY28f EPS of 2.77 sen.
Investment highlights include:
(i) Significant scale-up in foreign worker management services
(ii) Expansion in manual labour services
(iii) Pivoting to more CLQs management
(iv) Technological moat via “SmartApp” and AI
(v) Structural demand with favourable policy
Research Team, M+ Global
21 Apr 20
Here’s our IPO note on Manforce Group Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.40 per share for MFGROUP, indicating a 5.3% upside from the IPO price of RM0.38. This valuation is based on P/E ratio of 14.5x pegged to the mid-FY28f EPS of 2.77 sen.
Investment highlights include:
(i) Significant scale-up in foreign worker management services
(ii) Expansion in manual labour services
(iii) Pivoting to more CLQs management
(iv) Technological moat via “SmartApp” and AI
(v) Structural demand with favourable policy
Research Team, M+ Global
21 Apr 20
Good Afternoon All,
We issued a technical buy call on Scicom (MSC) Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Strong earnings momentum
(ii) Sector tailwinds
(iii) Strategic AI partnership with Telekom Malaysia.
Research Team, M+ Global
21 April 2026
We issued a technical buy call on Scicom (MSC) Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Strong earnings momentum
(ii) Sector tailwinds
(iii) Strategic AI partnership with Telekom Malaysia.
Research Team, M+ Global
21 April 2026
M+ Global Market Wrap - 21Apr26
FBM KLCI: 1,715.33 pts (+13.03pts, +0.77%)
The FBM KLCI (+0.77%) closed higher at 1715.33 points rose as signs Iran joining talks with the US fostered cautious optimism about progress in the Middle East ahead of a looming ceasefire deadline. The market breadth was positive, with 722 winners against 502 losers. Sector wise, Technology (+2.34%) outperformed, led by MPI (+240.0sen) and ZETRIX (+4.0sen), while Transportation and Logistics (-1.40%) declined the most. The IPO debutant MTTSL closed at RM1.00 compared to its IPO proce of RM1.03.
Top 3 Active stocks:
VELESTO (5243): RM0.350 (+1.0 sen)
ZETRIX (0138): RM0.895 (+4.0 sen)
VS (6963): RM0.205 (+1.5 sen)
Top 3 Gainer stocks:
HLBANK (5819): RM22.96 (+56.0 sen)
HLFG (1082): RM19.34 (+46.0 sen)
MPI (3867): RM36.60 (+240.0 sen)
Top 3 Loser stocks:
KLK (2445): RM20.60 (-28.0 sen)
F&N (3689): RM31.20 (-26.0 sen)
BIPORT (5032): RM5.35 (-24.0 sen)
Volume: 3.45 bn (100-bar avg vol: 3.09 bn)
Value: RM3.18 bn (100-bar avg val: RM3.06 bn)
Market Breadth: ⬆️722 ⬇️502
Crude Palm Oil: RM4,498 (+RM69, +1.53%)
Dow Futures: 49,726 pts (+87 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,715.33 pts (+13.03pts, +0.77%)
The FBM KLCI (+0.77%) closed higher at 1715.33 points rose as signs Iran joining talks with the US fostered cautious optimism about progress in the Middle East ahead of a looming ceasefire deadline. The market breadth was positive, with 722 winners against 502 losers. Sector wise, Technology (+2.34%) outperformed, led by MPI (+240.0sen) and ZETRIX (+4.0sen), while Transportation and Logistics (-1.40%) declined the most. The IPO debutant MTTSL closed at RM1.00 compared to its IPO proce of RM1.03.
Top 3 Active stocks:
VELESTO (5243): RM0.350 (+1.0 sen)
ZETRIX (0138): RM0.895 (+4.0 sen)
VS (6963): RM0.205 (+1.5 sen)
Top 3 Gainer stocks:
HLBANK (5819): RM22.96 (+56.0 sen)
HLFG (1082): RM19.34 (+46.0 sen)
MPI (3867): RM36.60 (+240.0 sen)
Top 3 Loser stocks:
KLK (2445): RM20.60 (-28.0 sen)
F&N (3689): RM31.20 (-26.0 sen)
BIPORT (5032): RM5.35 (-24.0 sen)
Volume: 3.45 bn (100-bar avg vol: 3.09 bn)
Value: RM3.18 bn (100-bar avg val: RM3.06 bn)
Market Breadth: ⬆️722 ⬇️502
Crude Palm Oil: RM4,498 (+RM69, +1.53%)
Dow Futures: 49,726 pts (+87 pts)
**Source: M+ Global, Bloomberg **
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M+ Morning Market Buzz - 22Apr26
Dow Jones: 49,149.38 pts (-293.18pts, -0.59%)
⬆️ Resistance: 50900
⬇️ Support: 47400
FBM KLCI: 1,715.33 pts (+13.03pts, +0.77%)
⬆️ Resistance: 1760
⬇️ Support: 1650
HSI Index: 26,487.48 pts (+126.41pts, +0.48%)
⬆️ Resistance: 27100
⬇️ Support: 25500
Crude Palm Oil: RM4,559 (+RM44, +0.97%)
⬆️ Resistance: 4710
⬇️ Support: 4330
Brent Oil: $98.48 (+$3.00, +3.14%)
⬆️ Resistance: 103.20
⬇️ Support: 84.40
Gold: $4,720.04 (+$5.02, +0.11%)
⬆️ Resistance: 4990
⬇️ Support: 4580
Source: Bloomberg, M+ Global
Dow Jones: 49,149.38 pts (-293.18pts, -0.59%)
⬆️ Resistance: 50900
⬇️ Support: 47400
FBM KLCI: 1,715.33 pts (+13.03pts, +0.77%)
⬆️ Resistance: 1760
⬇️ Support: 1650
HSI Index: 26,487.48 pts (+126.41pts, +0.48%)
⬆️ Resistance: 27100
⬇️ Support: 25500
Crude Palm Oil: RM4,559 (+RM44, +0.97%)
⬆️ Resistance: 4710
⬇️ Support: 4330
Brent Oil: $98.48 (+$3.00, +3.14%)
⬆️ Resistance: 103.20
⬇️ Support: 84.40
Gold: $4,720.04 (+$5.02, +0.11%)
⬆️ Resistance: 4990
⬇️ Support: 4580
Source: Bloomberg, M+ Global
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M+ Global Market Update – 22Apr26
US-Iran Ceasefire Extended And Blockade Remains
US: With the latest extension of the US–Iran ceasefire, we anticipate a rebound on Wall Street tonight, as futures are trending higher at the time of writing. Meanwhile, market sentiment is currently bolstered by UnitedHealth’s massive Q1 earnings beat and Amazon’s USD25bn investment in Anthropic, further reinforcing the long-term AI infrastructure supercycle. We also view Apple’s leadership transition, with hardware veteran John Ternus taking the helm, as a key structural pivot toward hardware-led engineering innovation. Lastly, investors are digesting the outcomes of Kevin Warsh’s confirmation hearing, where his views on AI-driven productivity as a key disinflationary force could bode well for AI-related counters.
MY: We expect the FBMKLCI to extend its gains today, in view of the US-Iran ceasefire extension. However, as the US military blockade in the Strait of Hormuz is set to continue, this should lift Brent crude oil prices in the near term, creating opportunities within the O&G and chemical-related counters. Besides this, the market continues to focus on data centre-related themes, including (i) water-related stocks like IAB, RANHILL, and ISF, and (ii) electrical engineering counters like CBHB and MNHLDG. Lastly, we favour MCLEAN as the Group continues to see increasing precision cleaning orders, supported by the semiconductor upcycle.
Stocks to watch:
Technology: *KGB*, *LGMS*, *MCLEAN*, *SCICOM*, UWC, VITROX, VSTECS
Utility: *IAB*, *RANHILL*, YTLPOWR
Automotive: BAUTO, *BETA*
Chemical: TMK
**Source: M+ Global**
US-Iran Ceasefire Extended And Blockade Remains
US: With the latest extension of the US–Iran ceasefire, we anticipate a rebound on Wall Street tonight, as futures are trending higher at the time of writing. Meanwhile, market sentiment is currently bolstered by UnitedHealth’s massive Q1 earnings beat and Amazon’s USD25bn investment in Anthropic, further reinforcing the long-term AI infrastructure supercycle. We also view Apple’s leadership transition, with hardware veteran John Ternus taking the helm, as a key structural pivot toward hardware-led engineering innovation. Lastly, investors are digesting the outcomes of Kevin Warsh’s confirmation hearing, where his views on AI-driven productivity as a key disinflationary force could bode well for AI-related counters.
MY: We expect the FBMKLCI to extend its gains today, in view of the US-Iran ceasefire extension. However, as the US military blockade in the Strait of Hormuz is set to continue, this should lift Brent crude oil prices in the near term, creating opportunities within the O&G and chemical-related counters. Besides this, the market continues to focus on data centre-related themes, including (i) water-related stocks like IAB, RANHILL, and ISF, and (ii) electrical engineering counters like CBHB and MNHLDG. Lastly, we favour MCLEAN as the Group continues to see increasing precision cleaning orders, supported by the semiconductor upcycle.
Stocks to watch:
Technology: *KGB*, *LGMS*, *MCLEAN*, *SCICOM*, UWC, VITROX, VSTECS
Utility: *IAB*, *RANHILL*, YTLPOWR
Automotive: BAUTO, *BETA*
Chemical: TMK
**Source: M+ Global**
Good Afternoon All,
We issued a non-rated report on Betamek Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.865 for Betamek, implying a 46.6% upside, based on a P/E of 11x pegged to FY27f EPS of 7.88 sen. We believe this P/E multiple is fair given peers trade at 11x–17x on historical and forward P/E, respectively. Also, on dividends, Betamek stands out on the ACE Market with an attractive ~10% yield based on projected DPS of 5.9 sen in FY27f.
Investment highlights include:
(i) Structural beneficiary of Malaysia's rising TIV
(ii) Improving margins and decent manufacturing efficiencies
(iii) Customer and sector diversification
(iv) Solid balance sheet with high dividend yields
(v) Venturing into high value industries
Research Team, M+ Global
22 Apr 26
We issued a non-rated report on Betamek Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.865 for Betamek, implying a 46.6% upside, based on a P/E of 11x pegged to FY27f EPS of 7.88 sen. We believe this P/E multiple is fair given peers trade at 11x–17x on historical and forward P/E, respectively. Also, on dividends, Betamek stands out on the ACE Market with an attractive ~10% yield based on projected DPS of 5.9 sen in FY27f.
Investment highlights include:
(i) Structural beneficiary of Malaysia's rising TIV
(ii) Improving margins and decent manufacturing efficiencies
(iii) Customer and sector diversification
(iv) Solid balance sheet with high dividend yields
(v) Venturing into high value industries
Research Team, M+ Global
22 Apr 26
M+ Global Market Wrap - 22Apr26
FBM KLCI: 1,710.39 pts (-4.94pts, -0.29%)
The FBM KLCI (-0.29%) closed lower at 1710.39 points as sentiment were uncertain with the market brushing off the extended US-Iran ceasefire as the US blockade remains, where the crude oil has risen above the USD100 mark again. The market breadth was negative, with 565 losers against 584 winners. Sector wise, Energy (+1.69%) outperformed, led by KEYFIELD (+15.0sen) and YINSON (+3.0sen), while Finance (-0.84%) declined the most.
Top 3 Active stocks:
NEXG (5216): RM0.315 (+1.0 sen)
ZETRIX (0138): RM0.860 (+3.5 sen)
AAX (5238): RM1.30 (-10.0 sen)
Top 3 Gainer stocks:
PETDAG (5681): RM20.60 (+60.0 sen)
HLIND (3301): RM17.58 (+22.0 sen)
NESTLE (4707): RM98.74 (+72.0 sen)
Top 3 Loser stocks:
MPI (3867): RM35.64 (-96.0 sen)
HLBANK (5819): RM22.62 (-34.0 sen)
HEIM (3255): RM23.12 (-32.0 sen)
Volume: 3.20 bn (100-bar avg vol: 3.06 bn)
Value: RM2.70 bn (100-bar avg val: RM3.06 bn)
Market Breadth: ⬆️565 ⬇️584
Crude Palm Oil: RM4,559 (+RM72, +1.58%)
Dow Futures: 49,565 pts (+226 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,710.39 pts (-4.94pts, -0.29%)
The FBM KLCI (-0.29%) closed lower at 1710.39 points as sentiment were uncertain with the market brushing off the extended US-Iran ceasefire as the US blockade remains, where the crude oil has risen above the USD100 mark again. The market breadth was negative, with 565 losers against 584 winners. Sector wise, Energy (+1.69%) outperformed, led by KEYFIELD (+15.0sen) and YINSON (+3.0sen), while Finance (-0.84%) declined the most.
Top 3 Active stocks:
NEXG (5216): RM0.315 (+1.0 sen)
ZETRIX (0138): RM0.860 (+3.5 sen)
AAX (5238): RM1.30 (-10.0 sen)
Top 3 Gainer stocks:
PETDAG (5681): RM20.60 (+60.0 sen)
HLIND (3301): RM17.58 (+22.0 sen)
NESTLE (4707): RM98.74 (+72.0 sen)
Top 3 Loser stocks:
MPI (3867): RM35.64 (-96.0 sen)
HLBANK (5819): RM22.62 (-34.0 sen)
HEIM (3255): RM23.12 (-32.0 sen)
Volume: 3.20 bn (100-bar avg vol: 3.06 bn)
Value: RM2.70 bn (100-bar avg val: RM3.06 bn)
Market Breadth: ⬆️565 ⬇️584
Crude Palm Oil: RM4,559 (+RM72, +1.58%)
Dow Futures: 49,565 pts (+226 pts)
**Source: M+ Global, Bloomberg **
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M+ Morning Market Buzz - 23Apr26
Dow Jones: 49,490.03 pts (+340.65pts, +0.69%)
⬆️ Resistance: 50900
⬇️ Support: 47400
FBM KLCI: 1,710.39 pts (-4.94pts, -0.29%)
⬆️ Resistance: 1760
⬇️ Support: 1650
HSI Index: 26,163.24 pts (-324.24pts, -1.22%)
⬆️ Resistance: 27100
⬇️ Support: 25500
Crude Palm Oil: RM4,628 (-RM11, -0.24%)
⬆️ Resistance: 4740
⬇️ Support: 4360
Brent Oil: $101.91 (+$3.43, +3.48%)
⬆️ Resistance: 104.40
⬇️ Support: 84.40
Gold: $4,739.90 (-$15.00, -0.32%)
⬆️ Resistance: 4990
⬇️ Support: 4580
Source: Bloomberg, M+ Global
Dow Jones: 49,490.03 pts (+340.65pts, +0.69%)
⬆️ Resistance: 50900
⬇️ Support: 47400
FBM KLCI: 1,710.39 pts (-4.94pts, -0.29%)
⬆️ Resistance: 1760
⬇️ Support: 1650
HSI Index: 26,163.24 pts (-324.24pts, -1.22%)
⬆️ Resistance: 27100
⬇️ Support: 25500
Crude Palm Oil: RM4,628 (-RM11, -0.24%)
⬆️ Resistance: 4740
⬇️ Support: 4360
Brent Oil: $101.91 (+$3.43, +3.48%)
⬆️ Resistance: 104.40
⬇️ Support: 84.40
Gold: $4,739.90 (-$15.00, -0.32%)
⬆️ Resistance: 4990
⬇️ Support: 4580
Source: Bloomberg, M+ Global
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M+ Global Market Update – 23Apr26
Wall Street Rallied Amid Ceasefire Extension
US: With President Trump extending the US-Iran ceasefire agreement, we anticipate that Wall Street will remain positive in the near term. Market sentiment may be further boosted by the standout Q1 earnings results from Boeing and GE Vernova, which significantly outperformed consensus estimates. Meanwhile, we continue to view Apple’s leadership transition to John Ternus as a key structural development for hardware-led engineering innovation. Lastly, as the global AI supercycle continues to show no signs of slowing down, we view any pullback in chipmakers and semiconductor-related counters as a 'buy-on-dip' opportunity.
MY: Tracking Wall Street’s positive performance, we expect the FBMKLCI to rebound today. Meanwhile, buying interest in glovemakers remains evident as the double blockade in the Strait of Hormuz disrupts the procurement of raw materials, leading to higher glove ASPs; notably, the world’s largest condom maker, KAREX, is also joining this cost pass-through trend. We also favour EG’s attempt to break above the MA200, supported by its (i) strong earnings visibility from 5G optical modules, (ii) production ramp-up at the Batu Kawan Smart Factory, and (iii) Thailand facility expansion. Lastly, AMS Advanced Material (M+ TP: RM 0.38) will make its ACE Market debut today.
Stocks to watch:
Technology: *CORAZA*, *JFTECH*, *KGB*, UWC
O&G: *ARMADA*, DAYANG, DELEUM
Plantation: JPG, *THPLANT*
Construction: *ISF*
Automotive: *BETA*
**Source: M+ Global**
Wall Street Rallied Amid Ceasefire Extension
US: With President Trump extending the US-Iran ceasefire agreement, we anticipate that Wall Street will remain positive in the near term. Market sentiment may be further boosted by the standout Q1 earnings results from Boeing and GE Vernova, which significantly outperformed consensus estimates. Meanwhile, we continue to view Apple’s leadership transition to John Ternus as a key structural development for hardware-led engineering innovation. Lastly, as the global AI supercycle continues to show no signs of slowing down, we view any pullback in chipmakers and semiconductor-related counters as a 'buy-on-dip' opportunity.
MY: Tracking Wall Street’s positive performance, we expect the FBMKLCI to rebound today. Meanwhile, buying interest in glovemakers remains evident as the double blockade in the Strait of Hormuz disrupts the procurement of raw materials, leading to higher glove ASPs; notably, the world’s largest condom maker, KAREX, is also joining this cost pass-through trend. We also favour EG’s attempt to break above the MA200, supported by its (i) strong earnings visibility from 5G optical modules, (ii) production ramp-up at the Batu Kawan Smart Factory, and (iii) Thailand facility expansion. Lastly, AMS Advanced Material (M+ TP: RM 0.38) will make its ACE Market debut today.
Stocks to watch:
Technology: *CORAZA*, *JFTECH*, *KGB*, UWC
O&G: *ARMADA*, DAYANG, DELEUM
Plantation: JPG, *THPLANT*
Construction: *ISF*
Automotive: *BETA*
**Source: M+ Global**