M+ Market Wrap - 10Feb25
FBM KLCI: 1,589.95 pts (-0.96pts, -0.06%)
The FBMKLCI (-0.06%) ended flat as gains in Telco and Utilities heavyweights were offset by declines in Plantation stocks despite the recent rally in CPO prices. Market breadth was negative, with 590 losers outpacing 367 gainers. In the broader market, Banking heavyweights like MAYBANK (+4.0 sen) continued to spur buying interest in the Financial Services (+0.13%) sector while Technology (-1.86%) sector declined the most.
Top 3 Active stocks:
BORNOIL (7036): RM0.010 (unch)
COLFORM (0341): RM0.390 (+3.0 sen)
HM (0060): RM0.160 (-1.0 sen)
Volume: 3.00 bn (100-bar avg vol: 2.95 bn)
Value: RM1.85 bn (100-bar avg val: RM2.64 bn)
Market Breadth: ⬆️367 ⬇️590
Crude palm oil: RM4,577 (+RM73)
Dow Futures: 44,530 pts (+109 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,589.95 pts (-0.96pts, -0.06%)
The FBMKLCI (-0.06%) ended flat as gains in Telco and Utilities heavyweights were offset by declines in Plantation stocks despite the recent rally in CPO prices. Market breadth was negative, with 590 losers outpacing 367 gainers. In the broader market, Banking heavyweights like MAYBANK (+4.0 sen) continued to spur buying interest in the Financial Services (+0.13%) sector while Technology (-1.86%) sector declined the most.
Top 3 Active stocks:
BORNOIL (7036): RM0.010 (unch)
COLFORM (0341): RM0.390 (+3.0 sen)
HM (0060): RM0.160 (-1.0 sen)
Volume: 3.00 bn (100-bar avg vol: 2.95 bn)
Value: RM1.85 bn (100-bar avg val: RM2.64 bn)
Market Breadth: ⬆️367 ⬇️590
Crude palm oil: RM4,577 (+RM73)
Dow Futures: 44,530 pts (+109 pts)
**Source: Bloomberg, M+**
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M+ Market Update – 12Feb25
Awaiting More Clarity From President Trump
The FBMKLCI (-0.06%) started the week on a weaker tone, as gains in Telco and Utilities were offset by declines in Plantation stocks. Wall Street traded within a tight range, following Jerome Powell's outlook on a slower easing cycle. Traders will monitor key inflation data, including (i) Core CPI, (ii) CPI, (iii) Core PPI, and (iv) PPI, along with retail sales, for clues on whether the Fed may adjust its stance in an environment of elevated inflation. In the commodity market, Brent Crude ticked above USD76/barrel. Gold remains elevated at USD2,897 near the all-time high zone, while CPO prices charged towards RM4,600.
Sector Focus: Following President Trump's 25% tariff on steel and aluminium imports, we see a trading opportunity in local steel players, as the policy is expected to primarily impact export players. Bargain-hunting may also persist in the Construction sector, supported by JSSEZ developments, while earnings from data center supply chain stocks are likely to materialise in the upcoming reporting season. For a conservative play, we favour Consumer, Banking, and REITs, which should outperform amid current market uncertainties, supported by stable yield and a continued recovery in the mall footfall traffic.
Stocks to watch:
Financial: *AMBANK*, *CIMB*, OSK
Technology: *GENETEC*, *RAMSSOL*
Consumer: *TEOSENG*
Property: SUNWAY
Telco: TM
Gold: POHKONG
Source: M+
Awaiting More Clarity From President Trump
The FBMKLCI (-0.06%) started the week on a weaker tone, as gains in Telco and Utilities were offset by declines in Plantation stocks. Wall Street traded within a tight range, following Jerome Powell's outlook on a slower easing cycle. Traders will monitor key inflation data, including (i) Core CPI, (ii) CPI, (iii) Core PPI, and (iv) PPI, along with retail sales, for clues on whether the Fed may adjust its stance in an environment of elevated inflation. In the commodity market, Brent Crude ticked above USD76/barrel. Gold remains elevated at USD2,897 near the all-time high zone, while CPO prices charged towards RM4,600.
Sector Focus: Following President Trump's 25% tariff on steel and aluminium imports, we see a trading opportunity in local steel players, as the policy is expected to primarily impact export players. Bargain-hunting may also persist in the Construction sector, supported by JSSEZ developments, while earnings from data center supply chain stocks are likely to materialise in the upcoming reporting season. For a conservative play, we favour Consumer, Banking, and REITs, which should outperform amid current market uncertainties, supported by stable yield and a continued recovery in the mall footfall traffic.
Stocks to watch:
Financial: *AMBANK*, *CIMB*, OSK
Technology: *GENETEC*, *RAMSSOL*
Consumer: *TEOSENG*
Property: SUNWAY
Telco: TM
Gold: POHKONG
Source: M+
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M+ Market Wrap - 12Feb25
FBM KLCI: 1,603.05 pts (+13.10pts, +0.82%)
The FBMKLCI (+0.82%) rebounded from Monday’s losses, driven by gains in Banking heavyweights, as investors continue to increase exposure to stocks like MAYBANK (+14.0 sen); major beneficiaries of government initiatives like JS-SEZ, which are expected to stimulate loans growth, coupled with attractive dividend payouts. However, market breadth was negative with losers outpaced gainers by 534-to-492. On the broader market, the Plantation sector (+1.56%) continued to benefit from the surge in CPO prices, led by gains in SDG (+18.0 sen) and IOICORP (+4.0 sen), while the Industrial Products & Services (-1.11%) declined the most.
Top 3 Active stocks:
TWL (7079): RM0.020 (-0.5 sen)
MYEG (0138): RM1.040 (+3.0 sen)
HM (0060): RM0.160 (unch)
Volume: 3.15 bn (100-bar avg vol: 2.95 bn)
Value: RM2.66 bn (100-bar avg val: RM2.63 bn)
Market Breadth: ⬆️492 ⬇️534
Crude palm oil: RM4,625 (+RM32)
Dow Futures: 44,650 pts (-58 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,603.05 pts (+13.10pts, +0.82%)
The FBMKLCI (+0.82%) rebounded from Monday’s losses, driven by gains in Banking heavyweights, as investors continue to increase exposure to stocks like MAYBANK (+14.0 sen); major beneficiaries of government initiatives like JS-SEZ, which are expected to stimulate loans growth, coupled with attractive dividend payouts. However, market breadth was negative with losers outpaced gainers by 534-to-492. On the broader market, the Plantation sector (+1.56%) continued to benefit from the surge in CPO prices, led by gains in SDG (+18.0 sen) and IOICORP (+4.0 sen), while the Industrial Products & Services (-1.11%) declined the most.
Top 3 Active stocks:
TWL (7079): RM0.020 (-0.5 sen)
MYEG (0138): RM1.040 (+3.0 sen)
HM (0060): RM0.160 (unch)
Volume: 3.15 bn (100-bar avg vol: 2.95 bn)
Value: RM2.66 bn (100-bar avg val: RM2.63 bn)
Market Breadth: ⬆️492 ⬇️534
Crude palm oil: RM4,625 (+RM32)
Dow Futures: 44,650 pts (-58 pts)
**Source: Bloomberg, M+**
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M+ Morning Market Buzz - 13Feb25
Dow Jones: 44,368.56 pts (-225.09pts, -0.50%)
⬆️ Resistance: 45900
⬇️ Support: 43300
FBM KLCI: 1,603.05 pts (+13.10pts, +0.82%)
⬆️ Resistance: 1640
⬇️ Support: 1550
HSI Index: 21,857.92 pts (+563.06pts, +2.64%)
⬆️ Resistance: 22300
⬇️ Support: 20200
Crude Palm Oil: RM4,621 (+RM30, +0.65%)
⬆️ Resistance: 4800
⬇️ Support: 4230
Brent Oil: $77.00 (-$2.04, -2.65%)
⬆️ Resistance: 78.90
⬇️ Support: 72.70
Gold: $2,904.04 (+$0.14, +0.00%)
⬆️ Resistance: 3010
⬇️ Support: 2780
Source: Bloomberg, M+
Dow Jones: 44,368.56 pts (-225.09pts, -0.50%)
⬆️ Resistance: 45900
⬇️ Support: 43300
FBM KLCI: 1,603.05 pts (+13.10pts, +0.82%)
⬆️ Resistance: 1640
⬇️ Support: 1550
HSI Index: 21,857.92 pts (+563.06pts, +2.64%)
⬆️ Resistance: 22300
⬇️ Support: 20200
Crude Palm Oil: RM4,621 (+RM30, +0.65%)
⬆️ Resistance: 4800
⬇️ Support: 4230
Brent Oil: $77.00 (-$2.04, -2.65%)
⬆️ Resistance: 78.90
⬇️ Support: 72.70
Gold: $2,904.04 (+$0.14, +0.00%)
⬆️ Resistance: 3010
⬇️ Support: 2780
Source: Bloomberg, M+
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M+ Market Update – 13Feb25
Hot Inflation Stalls Easing Plans
The FBMKLCI (+0.82%) rebounded from Monday’s losses, driven by gains in Banking heavyweights, following the February MSCI review. Meanwhile, Wall Street closed mostly lower after the hotter-than-anticipated CPI data, which tempered the Fed’s plans for an easing interest rate cycle. However, we believe the market may be brushing off the CPI data for now, shifting its focus to several corporate earnings that will be releasing this week. Also, traders will monitor several key economic data, including (i) Core PPI and (ii) PPI, for further clues on the rate cuts path. In the commodities market, oil dropped below USD75/barrel after a survey revealed a significant rise in US inventories last week. Gold prices surged above USD2,903 following the inflation data, while CPO prices closed above RM4,600.
Sector Focus: While US markets closed on a negative note, we believe buying interest will persist on the local front within the Banking and REIT sectors. Also, we expect the Construction sector to gain momentum throughout the year, driven by the JS-SEZ development and stable Malaysia’s economic outlook. We also see potential opportunities in glove stocks, amid ongoing tariffs threat on China’s products, along with a stronger dollar outlook. Lastly, we anticipate earnings to begin materialising for stocks tied to the data center supply chain.
Stocks to watch:
Technology: ITMAX, *MYEG*, *RAMSSOL*
Plantation: *JTIASA*, TSH
Construction: *INTA*
Consumer: *RGB*
Healthcare: KPJ
IFM: AWC
Source: M+
Hot Inflation Stalls Easing Plans
The FBMKLCI (+0.82%) rebounded from Monday’s losses, driven by gains in Banking heavyweights, following the February MSCI review. Meanwhile, Wall Street closed mostly lower after the hotter-than-anticipated CPI data, which tempered the Fed’s plans for an easing interest rate cycle. However, we believe the market may be brushing off the CPI data for now, shifting its focus to several corporate earnings that will be releasing this week. Also, traders will monitor several key economic data, including (i) Core PPI and (ii) PPI, for further clues on the rate cuts path. In the commodities market, oil dropped below USD75/barrel after a survey revealed a significant rise in US inventories last week. Gold prices surged above USD2,903 following the inflation data, while CPO prices closed above RM4,600.
Sector Focus: While US markets closed on a negative note, we believe buying interest will persist on the local front within the Banking and REIT sectors. Also, we expect the Construction sector to gain momentum throughout the year, driven by the JS-SEZ development and stable Malaysia’s economic outlook. We also see potential opportunities in glove stocks, amid ongoing tariffs threat on China’s products, along with a stronger dollar outlook. Lastly, we anticipate earnings to begin materialising for stocks tied to the data center supply chain.
Stocks to watch:
Technology: ITMAX, *MYEG*, *RAMSSOL*
Plantation: *JTIASA*, TSH
Construction: *INTA*
Consumer: *RGB*
Healthcare: KPJ
IFM: AWC
Source: M+
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M+ Market Wrap - 13Feb25
FBM KLCI: 1,592.28 pts (-10.77pts, -0.67%)
Tracking the Wall Street declines amid inflation fears, the FBMKLCI (-0.67%) pulled back towards the 1,592 level as profit-taking emerged within Banking heavyweight, dampening the sentiment on the local front. Market breadth was negative, with losers outnumbering gainers by 573-to-422 stocks. On the broader market, the Transportation & Logistics sector (+0.25%) outperformed, led by gains in MISC (+17.0 sen) and HEXTECH (+2.0 sen), while the Telco & Media sector (-1.0%) declined the most.
Top 3 Active stocks:
INGENIEU (5178): RM0.055 (unch)
RGB (0037): RM0.460 (+2.5 sen)
AIZO (7129): RM0.120 (unch)
Volume: 2.56 bn (100-bar avg vol: 2.96 bn)
Value: RM2.22 bn (100-bar avg val: RM2.63 bn)
Market Breadth: ⬆️422 ⬇️573
Crude palm oil: RM4,561 (-RM60)
Dow Futures: 44,378 pts (-84 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,592.28 pts (-10.77pts, -0.67%)
Tracking the Wall Street declines amid inflation fears, the FBMKLCI (-0.67%) pulled back towards the 1,592 level as profit-taking emerged within Banking heavyweight, dampening the sentiment on the local front. Market breadth was negative, with losers outnumbering gainers by 573-to-422 stocks. On the broader market, the Transportation & Logistics sector (+0.25%) outperformed, led by gains in MISC (+17.0 sen) and HEXTECH (+2.0 sen), while the Telco & Media sector (-1.0%) declined the most.
Top 3 Active stocks:
INGENIEU (5178): RM0.055 (unch)
RGB (0037): RM0.460 (+2.5 sen)
AIZO (7129): RM0.120 (unch)
Volume: 2.56 bn (100-bar avg vol: 2.96 bn)
Value: RM2.22 bn (100-bar avg val: RM2.63 bn)
Market Breadth: ⬆️422 ⬇️573
Crude palm oil: RM4,561 (-RM60)
Dow Futures: 44,378 pts (-84 pts)
**Source: Bloomberg, M+**
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M+ Morning Market Buzz - 14Feb25
Dow Jones: 44,711.43 pts (+342.87pts, +0.77%)
⬆️ Resistance: 45800
⬇️ Support: 43300
FBM KLCI: 1,592.28 pts (-10.77pts, -0.67%)
⬆️ Resistance: 1640
⬇️ Support: 1560
HSI Index: 21,814.37 pts (-43.55pts, -0.20%)
⬆️ Resistance: 23000
⬇️ Support: 20400
Crude Palm Oil: RM4,554 (+RM11, +0.24%)
⬆️ Resistance: 4800
⬇️ Support: 4310
Brent Oil: $75.18 (+$0.07, +0.09%)
⬆️ Resistance: 78.90
⬇️ Support: 72.60
Gold: $2,928.21 (-$0.32, -0.01%)
⬆️ Resistance: 3010
⬇️ Support: 2800
Source: Bloomberg, M+
Dow Jones: 44,711.43 pts (+342.87pts, +0.77%)
⬆️ Resistance: 45800
⬇️ Support: 43300
FBM KLCI: 1,592.28 pts (-10.77pts, -0.67%)
⬆️ Resistance: 1640
⬇️ Support: 1560
HSI Index: 21,814.37 pts (-43.55pts, -0.20%)
⬆️ Resistance: 23000
⬇️ Support: 20400
Crude Palm Oil: RM4,554 (+RM11, +0.24%)
⬆️ Resistance: 4800
⬇️ Support: 4310
Brent Oil: $75.18 (+$0.07, +0.09%)
⬆️ Resistance: 78.90
⬇️ Support: 72.60
Gold: $2,928.21 (-$0.32, -0.01%)
⬆️ Resistance: 3010
⬇️ Support: 2800
Source: Bloomberg, M+
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M+ Market Update – 14Feb25
Traders May Focus on Earnings Season
The local bourse closed on a negative note, as profit-taking in Banking heavyweights dampened sentiment. While the MoM PPI, points to inflationary pressures, came in hotter-than-anticipated at 0.4%, Wall Street edged higher, buoyed by gains in Nasdaq heavyweights like Nvidia after Hewlett Packard Enterprise shipped its first NVIDIA AI computing Blackwell system. In the commodities market, Brent Crude traded within a tight range around USD 74-75/barrel, amid prospects of Russian-Ukraine peace talks. Gold prices surged toward USD2,928/ounce, while CPO prices took a breather after the recent rebound above RM4,600.
Sector Focus: We see trading opportunities in Gas Malaysia stock after Economy Minister Rafizi Ramli's recent announcement on addressing CapEx challenges in the gas industry. As we approach the reporting season, we expect traders to position themselves in (i) export-oriented sectors like Gloves, which stand to benefit from a strong dollar outlook and ongoing tariffs on China’s products and (ii) Construction and Technology stocks that are tied to the data center supply chain. For a more conservative play, we remain positive on Banking and REITs, supported by Malaysia’s growing economy, increased mall footfall, and high dividend payouts.
Stocks to watch:
Construction: *BNASTRA*, *INTA*, PRTASCO
Healthcare: KAREX, KPJ
Technology: *ITMAX*
Renewable Energy: *KENERGY*
Plantation: TSH
O&G: HAWK
Consumer: RGB
Source: M+
Traders May Focus on Earnings Season
The local bourse closed on a negative note, as profit-taking in Banking heavyweights dampened sentiment. While the MoM PPI, points to inflationary pressures, came in hotter-than-anticipated at 0.4%, Wall Street edged higher, buoyed by gains in Nasdaq heavyweights like Nvidia after Hewlett Packard Enterprise shipped its first NVIDIA AI computing Blackwell system. In the commodities market, Brent Crude traded within a tight range around USD 74-75/barrel, amid prospects of Russian-Ukraine peace talks. Gold prices surged toward USD2,928/ounce, while CPO prices took a breather after the recent rebound above RM4,600.
Sector Focus: We see trading opportunities in Gas Malaysia stock after Economy Minister Rafizi Ramli's recent announcement on addressing CapEx challenges in the gas industry. As we approach the reporting season, we expect traders to position themselves in (i) export-oriented sectors like Gloves, which stand to benefit from a strong dollar outlook and ongoing tariffs on China’s products and (ii) Construction and Technology stocks that are tied to the data center supply chain. For a more conservative play, we remain positive on Banking and REITs, supported by Malaysia’s growing economy, increased mall footfall, and high dividend payouts.
Stocks to watch:
Construction: *BNASTRA*, *INTA*, PRTASCO
Healthcare: KAREX, KPJ
Technology: *ITMAX*
Renewable Energy: *KENERGY*
Plantation: TSH
O&G: HAWK
Consumer: RGB
Source: M+
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Good Morning All,
Here’s our IPO note on Pantech Global Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.92 per share for Pantech Global Berhad, representing a 35.3% upside from the IPO price of RM0.68. This valuation is based on a P/E ratio of 12.5x, pegged to mid-FY27f EPS of 7.37 sen. We believed that the ascribed P/E is fair as the forward P/E and historical average P/E for Steel industry under the Bursa Malaysia Industrial Production Index stood at 9.8-12.5x.
Investment highlights include:
(i) Extensive geographical reach supported by an established track record
(ii) Serving a wide range of industries
(iii) Decent market share
(iv) Acquisition of existing operational facilities
(v) Expansion of pickling capacity and warehouse facilities in Johor
(vi) Enhancing capacity through more machinery and equipment
(vii) Establishment of a new factory and corporate head office
(viii) Benefitting from Trump’s ‘Drill, Baby, Drill’
Research Team, M+
14 Feb 2025
Here’s our IPO note on Pantech Global Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.92 per share for Pantech Global Berhad, representing a 35.3% upside from the IPO price of RM0.68. This valuation is based on a P/E ratio of 12.5x, pegged to mid-FY27f EPS of 7.37 sen. We believed that the ascribed P/E is fair as the forward P/E and historical average P/E for Steel industry under the Bursa Malaysia Industrial Production Index stood at 9.8-12.5x.
Investment highlights include:
(i) Extensive geographical reach supported by an established track record
(ii) Serving a wide range of industries
(iii) Decent market share
(iv) Acquisition of existing operational facilities
(v) Expansion of pickling capacity and warehouse facilities in Johor
(vi) Enhancing capacity through more machinery and equipment
(vii) Establishment of a new factory and corporate head office
(viii) Benefitting from Trump’s ‘Drill, Baby, Drill’
Research Team, M+
14 Feb 2025
Mplusonline
Your Trusted Guide to Global Trading | Malacca Securities
Trade in the MY, US & HK markets with real-time data, Shariah screening, 24-hour online customer sup...
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M+ Market Wrap - 14Feb25
FBM KLCI: 1,591.60 pts (-0.68pts, -0.04%)
The FBMKLCI (-0.04%) traded flat, as gains in Banking heavyweights were offset by losses in the Telco & Media and Industrial Products & Services sectors; the latter declined was due to analysts’ underweight stance on CelcomDigi, which likely spurred selling pressure in the sector. Market breadth was negative, with losers outnumbering gainers by 597-to-433 stocks. In the broader market, Financial and Consumer Products & Services outperformed, rising by 0.51%, while the Energy (-2.42%) sector declined amid prospects of Russian-Ukraine peace talks.
Top 3 Active stocks:
DIALOG (7277): RM1.570 (-24.0 sen)
VELESTO (5243): RM0.185 (unch)
HM (0060): RM0.150 (+0.5 sen)
Volume: 3.27 bn (100-bar avg vol: 2.95 bn)
Value: RM2.40 bn (100-bar avg val: RM2.62 bn)
Market Breadth: ⬆️433 ⬇️597
Crude palm oil: RM4,595 (+RM41)
Dow Futures: 44,784 pts (-27 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,591.60 pts (-0.68pts, -0.04%)
The FBMKLCI (-0.04%) traded flat, as gains in Banking heavyweights were offset by losses in the Telco & Media and Industrial Products & Services sectors; the latter declined was due to analysts’ underweight stance on CelcomDigi, which likely spurred selling pressure in the sector. Market breadth was negative, with losers outnumbering gainers by 597-to-433 stocks. In the broader market, Financial and Consumer Products & Services outperformed, rising by 0.51%, while the Energy (-2.42%) sector declined amid prospects of Russian-Ukraine peace talks.
Top 3 Active stocks:
DIALOG (7277): RM1.570 (-24.0 sen)
VELESTO (5243): RM0.185 (unch)
HM (0060): RM0.150 (+0.5 sen)
Volume: 3.27 bn (100-bar avg vol: 2.95 bn)
Value: RM2.40 bn (100-bar avg val: RM2.62 bn)
Market Breadth: ⬆️433 ⬇️597
Crude palm oil: RM4,595 (+RM41)
Dow Futures: 44,784 pts (-27 pts)
**Source: Bloomberg, M+**
👍5
M+ Morning Market Buzz - 17Feb25
Dow Jones: 44,546.08 pts (-165.35pts, -0.37%)
⬆️ Resistance: 45700
⬇️ Support: 43300
FBM KLCI: 1,591.60 pts (-0.68pts, -0.04%)
⬆️ Resistance: 1640
⬇️ Support: 1560
HSI Index: 22,620.33 pts (+805.96pts, +3.69%)
⬆️ Resistance: 23100
⬇️ Support: 20800
Crude Palm Oil: RM4,499 (+RM42, +0.94%)
⬆️ Resistance: 4800
⬇️ Support: 4400
Brent Oil: $74.74 (-$0.28, -0.37%)
⬆️ Resistance: 78.90
⬇️ Support: 72.60
Gold: $2,882.53 (-$45.68, -1.56%)
⬆️ Resistance: 3010
⬇️ Support: 2800
Source: Bloomberg, M+
Dow Jones: 44,546.08 pts (-165.35pts, -0.37%)
⬆️ Resistance: 45700
⬇️ Support: 43300
FBM KLCI: 1,591.60 pts (-0.68pts, -0.04%)
⬆️ Resistance: 1640
⬇️ Support: 1560
HSI Index: 22,620.33 pts (+805.96pts, +3.69%)
⬆️ Resistance: 23100
⬇️ Support: 20800
Crude Palm Oil: RM4,499 (+RM42, +0.94%)
⬆️ Resistance: 4800
⬇️ Support: 4400
Brent Oil: $74.74 (-$0.28, -0.37%)
⬆️ Resistance: 78.90
⬇️ Support: 72.60
Gold: $2,882.53 (-$45.68, -1.56%)
⬆️ Resistance: 3010
⬇️ Support: 2800
Source: Bloomberg, M+
👍3
M+ Market Update – 17Feb25
Brushing Off Tariff Concerns
The local bourse traded flat as selling pressure was observed within the Telco sector, offsetting gains in Banking heavyweights. Meanwhile, Wall Street ended the week higher as sentiment improved after President Trump signed a memorandum outlining plans for reciprocal tariffs on countries taxing US products, instead of imposing immediate targeted tariffs. The US markets will be closed today in conjunction with Presidents’ Day public holiday. In the commodities market, Brent oil is hovering within the tight range around USD 74-75/barrel, given the prospects of Russian-Ukraine peace talks. Gold prices retraced toward USD2,882/ounce, while CPO prices rebounded and traded closer to the RM4,600 level.
Sector Focus: Market sentiment remains weak on the local front, driven by foreign institutional outflows and recent strong sell-offs across certain counters including CelcomDigi, Able Global, Notion and YBS International. However, with CPO prices recovering, we expect Plantation stocks to regain upward momentum. The Construction sector is likely to continue benefiting from data center construction and JSSEZ initiatives, as well as ahead of the 4Q24 earnings that will be releasing this month. Lastly, we remain positive on the Genting-related counters despite their removal from MSCI index, given their attractive valuations and dividend yields.
Stocks to watch:
Technology: *ITMAX*, *RAMSSOL*
Property: *ECOWLD*, SUNWAY
Utility: *GASMSIA*
Logistics: *WPRTS*
Building material: SCGBHD
Source: M+
Brushing Off Tariff Concerns
The local bourse traded flat as selling pressure was observed within the Telco sector, offsetting gains in Banking heavyweights. Meanwhile, Wall Street ended the week higher as sentiment improved after President Trump signed a memorandum outlining plans for reciprocal tariffs on countries taxing US products, instead of imposing immediate targeted tariffs. The US markets will be closed today in conjunction with Presidents’ Day public holiday. In the commodities market, Brent oil is hovering within the tight range around USD 74-75/barrel, given the prospects of Russian-Ukraine peace talks. Gold prices retraced toward USD2,882/ounce, while CPO prices rebounded and traded closer to the RM4,600 level.
Sector Focus: Market sentiment remains weak on the local front, driven by foreign institutional outflows and recent strong sell-offs across certain counters including CelcomDigi, Able Global, Notion and YBS International. However, with CPO prices recovering, we expect Plantation stocks to regain upward momentum. The Construction sector is likely to continue benefiting from data center construction and JSSEZ initiatives, as well as ahead of the 4Q24 earnings that will be releasing this month. Lastly, we remain positive on the Genting-related counters despite their removal from MSCI index, given their attractive valuations and dividend yields.
Stocks to watch:
Technology: *ITMAX*, *RAMSSOL*
Property: *ECOWLD*, SUNWAY
Utility: *GASMSIA*
Logistics: *WPRTS*
Building material: SCGBHD
Source: M+
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Good Morning All,
We issued a technical buy call on Southern Cable Group Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Upgrade in national grid fuels stronger demand
(ii) Stable earnings visibility for the next 2 years
(iii) Undervalued compared to its peers
Research Team, M+
17 Feb 2025
We issued a technical buy call on Southern Cable Group Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Upgrade in national grid fuels stronger demand
(ii) Stable earnings visibility for the next 2 years
(iii) Undervalued compared to its peers
Research Team, M+
17 Feb 2025
Mplusonline
Your Trusted Guide to Global Trading | Malacca Securities
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M+ Market Wrap - 17Feb25
FBM KLCI: 1,582.75 pts (-8.85pts, -0.56%)
The FBMKLCI (-0.56%) had a rocky start for the week, mirroring the dampened regional sentiment. The KLCI closed lower at 1,582.76 pts, as key heavyweights like YTLPOWR (-11.0 sen) and PETGAS (-30.0 sen) were some of the obvious laggard on the key index. Market breadth was also negative, with 715 losers against 313 winners. In the broader market, all sectors ended on a negative note except for Transportation & Logistics (+0.17%), which could see potential upside from better shipments if demand from China recovers. Meanwhile, the Construction sector (-1.54%) recorded the largest decline.
Top 3 Active stocks:
RTECH (0342): RM0.320 (+7.0 sen)
DIALOG (7277): RM1.56 (-1.0 sen)
HM (0060): RM0.150 (unch)
Volume: 2.99 bn (100-bar avg vol: 2.94 bn)
Value: RM1.96 bn (100-bar avg val: RM2.61 bn)
Market Breadth: ⬆️313 ⬇️715
Crude palm oil: RM4,541 (+RM42)
Dow Futures: 44,654 pts (+19 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,582.75 pts (-8.85pts, -0.56%)
The FBMKLCI (-0.56%) had a rocky start for the week, mirroring the dampened regional sentiment. The KLCI closed lower at 1,582.76 pts, as key heavyweights like YTLPOWR (-11.0 sen) and PETGAS (-30.0 sen) were some of the obvious laggard on the key index. Market breadth was also negative, with 715 losers against 313 winners. In the broader market, all sectors ended on a negative note except for Transportation & Logistics (+0.17%), which could see potential upside from better shipments if demand from China recovers. Meanwhile, the Construction sector (-1.54%) recorded the largest decline.
Top 3 Active stocks:
RTECH (0342): RM0.320 (+7.0 sen)
DIALOG (7277): RM1.56 (-1.0 sen)
HM (0060): RM0.150 (unch)
Volume: 2.99 bn (100-bar avg vol: 2.94 bn)
Value: RM1.96 bn (100-bar avg val: RM2.61 bn)
Market Breadth: ⬆️313 ⬇️715
Crude palm oil: RM4,541 (+RM42)
Dow Futures: 44,654 pts (+19 pts)
**Source: Bloomberg, M+**
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M+ Morning Market Buzz - 18Feb25
Dow Jones: 44,546.08 pts (-165.35pts, -0.37%)
⬆️ Resistance: 45700
⬇️ Support: 43300
FBM KLCI: 1,582.76 pts (-8.84pts, -0.56%)
⬆️ Resistance: 1640
⬇️ Support: 1550
HSI Index: 22,616.23 pts (-4.10pts, -0.02%)
⬆️ Resistance: 23500
⬇️ Support: 20900
Crude Palm Oil: RM4,542 (-RM15, -0.33%)
⬆️ Resistance: 4800
⬇️ Support: 4370
Brent Oil: $75.22 (+$0.48, +0.64%)
⬆️ Resistance: 78.90
⬇️ Support: 72.60
Gold: $2,896.56 (+$1.48, +0.05%)
⬆️ Resistance: 3010
⬇️ Support: 2810
Source: Bloomberg, M+
Dow Jones: 44,546.08 pts (-165.35pts, -0.37%)
⬆️ Resistance: 45700
⬇️ Support: 43300
FBM KLCI: 1,582.76 pts (-8.84pts, -0.56%)
⬆️ Resistance: 1640
⬇️ Support: 1550
HSI Index: 22,616.23 pts (-4.10pts, -0.02%)
⬆️ Resistance: 23500
⬇️ Support: 20900
Crude Palm Oil: RM4,542 (-RM15, -0.33%)
⬆️ Resistance: 4800
⬇️ Support: 4370
Brent Oil: $75.22 (+$0.48, +0.64%)
⬆️ Resistance: 78.90
⬇️ Support: 72.60
Gold: $2,896.56 (+$1.48, +0.05%)
⬆️ Resistance: 3010
⬇️ Support: 2810
Source: Bloomberg, M+
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M+ Market Update – 18Feb25
Peace Talks In Focus
The local bourse started the week on a weaker tone, dragged down by the Utilities and Energy heavyweights. Meanwhile, Wall Street was closed for the Presidents’ Day public holiday. Global markets will be watching the peace talks between the US and Russia on ending the war in Ukraine, which will be held in Saudi Arabia this week and attended by top officials from both countries. Also, Walmart and Alibaba are also set to announce their results this week. On China and Hong Kong front, we believe the symposium, attended by most of China’s business leaders, will boost sentiment for China and Hong Kong exchanges. In the commodities market, Brent oil edged up slightly above USD75/barrel. Gold prices maintained near the USD2900 zone, while CPO prices are trading above the RM4,500 level.
Sector Focus: Malaysia recorded a current account expansion in 2024, thanks to robust exports and a resurgence in tourism activities. We believe the tourism sector will remain strong ahead of Visit Malaysia Year 2026, benefiting counters related to aviation, hotels, malls, theme parks and the digital economy. Meanwhile, stronger exports, underpinned by a stronger greenback, and ongoing US-China trade tensions, and sustained demand in AI, will benefit export-oriented sectors like Technology and Gloves.
Stocks to watch:
Plantation: HSPLANT, *TSH*
Healthcare: *KAREX*, KPJ
Technology: *KGB*
Logistics: *WPRTS*
Building material: *PMETAL*
Construction: *PESONA*
Utility: SAMAIDEN
Source: M+
Peace Talks In Focus
The local bourse started the week on a weaker tone, dragged down by the Utilities and Energy heavyweights. Meanwhile, Wall Street was closed for the Presidents’ Day public holiday. Global markets will be watching the peace talks between the US and Russia on ending the war in Ukraine, which will be held in Saudi Arabia this week and attended by top officials from both countries. Also, Walmart and Alibaba are also set to announce their results this week. On China and Hong Kong front, we believe the symposium, attended by most of China’s business leaders, will boost sentiment for China and Hong Kong exchanges. In the commodities market, Brent oil edged up slightly above USD75/barrel. Gold prices maintained near the USD2900 zone, while CPO prices are trading above the RM4,500 level.
Sector Focus: Malaysia recorded a current account expansion in 2024, thanks to robust exports and a resurgence in tourism activities. We believe the tourism sector will remain strong ahead of Visit Malaysia Year 2026, benefiting counters related to aviation, hotels, malls, theme parks and the digital economy. Meanwhile, stronger exports, underpinned by a stronger greenback, and ongoing US-China trade tensions, and sustained demand in AI, will benefit export-oriented sectors like Technology and Gloves.
Stocks to watch:
Plantation: HSPLANT, *TSH*
Healthcare: *KAREX*, KPJ
Technology: *KGB*
Logistics: *WPRTS*
Building material: *PMETAL*
Construction: *PESONA*
Utility: SAMAIDEN
Source: M+
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M+ Market Wrap - 18Feb25
FBM KLCI: 1,584.84 pts (+2.08pts, +0.13%)
The FBMKLCI (+0.13%) snapped its losses to close higher at 1,584.84 pts, led by key heavyweights such as CIMB (+10.0 sen) and MAXIS (+10.0 sen). Nevertheless, market breadth remained negative, with 643 losers against 397 winners. In the broader market, the Financial Services (+0.44%) sector outperformed, buoyed by gains in CIMB (+10.0 sen) and PBBANK (+3.0 sen). Meanwhile, the Healthcare (-5.44%) sector saw the largest decline, as HARTA’s (-79.0 sen) net profit came in below market's expectation, which weighed on sentiment for the glove counters.
Top 3 Active stocks:
TECHSTORE (0343): RM0.220 (unch)
TOPGLOV (7113): RM1.00 (-16.0 sen)
HARTA (5168): RM2.610 (-79.0 sen)
Volume: 3.62 bn (100-bar avg vol: 2.94 bn)
Value: RM2.65 bn (100-bar avg val: RM2.57 bn)
Market Breadth: ⬆️397 ⬇️643
Crude palm oil: RM4,523 (-RM19)
Dow Futures: 44,702 pts (+67 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,584.84 pts (+2.08pts, +0.13%)
The FBMKLCI (+0.13%) snapped its losses to close higher at 1,584.84 pts, led by key heavyweights such as CIMB (+10.0 sen) and MAXIS (+10.0 sen). Nevertheless, market breadth remained negative, with 643 losers against 397 winners. In the broader market, the Financial Services (+0.44%) sector outperformed, buoyed by gains in CIMB (+10.0 sen) and PBBANK (+3.0 sen). Meanwhile, the Healthcare (-5.44%) sector saw the largest decline, as HARTA’s (-79.0 sen) net profit came in below market's expectation, which weighed on sentiment for the glove counters.
Top 3 Active stocks:
TECHSTORE (0343): RM0.220 (unch)
TOPGLOV (7113): RM1.00 (-16.0 sen)
HARTA (5168): RM2.610 (-79.0 sen)
Volume: 3.62 bn (100-bar avg vol: 2.94 bn)
Value: RM2.65 bn (100-bar avg val: RM2.57 bn)
Market Breadth: ⬆️397 ⬇️643
Crude palm oil: RM4,523 (-RM19)
Dow Futures: 44,702 pts (+67 pts)
**Source: Bloomberg, M+**
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M+ Morning Market Buzz - 19Feb25
Dow Jones: 44,556.34 pts (+10.26pts, +0.02%)
⬆️ Resistance: 45700
⬇️ Support: 43300
FBM KLCI: 1,584.84 pts (+2.08pts, +0.13%)
⬆️ Resistance: 1640
⬇️ Support: 1550
HSI Index: 22,976.81 pts (+360.58pts, +1.59%)
⬆️ Resistance: 23700
⬇️ Support: 21000
Crude Palm Oil: RM4,504 (+RM52, +1.15%)
⬆️ Resistance: 4800
⬇️ Support: 4370
Brent Oil: $75.22 (+$0.59, +0.78%)
⬆️ Resistance: 78.50
⬇️ Support: 72.60
Gold: $2,936.02 (-$0.81, -0.03%)
⬆️ Resistance: 3000
⬇️ Support: 2810
Source: Bloomberg, M+
Dow Jones: 44,556.34 pts (+10.26pts, +0.02%)
⬆️ Resistance: 45700
⬇️ Support: 43300
FBM KLCI: 1,584.84 pts (+2.08pts, +0.13%)
⬆️ Resistance: 1640
⬇️ Support: 1550
HSI Index: 22,976.81 pts (+360.58pts, +1.59%)
⬆️ Resistance: 23700
⬇️ Support: 21000
Crude Palm Oil: RM4,504 (+RM52, +1.15%)
⬆️ Resistance: 4800
⬇️ Support: 4370
Brent Oil: $75.22 (+$0.59, +0.78%)
⬆️ Resistance: 78.50
⬇️ Support: 72.60
Gold: $2,936.02 (-$0.81, -0.03%)
⬆️ Resistance: 3000
⬇️ Support: 2810
Source: Bloomberg, M+
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M+ Market Update – 19Feb25
A Highly Volatile Environment
The local bourse rebounded from its losses, driven by gains in banking and telecommunications heavyweights. Meanwhile, Wall Street edged marginally higher, with the S&P 500 reaching an all-time high, as Intel surged on reports that Broadcom and TSMC are exploring a split, with Broadcom eyeing its chip design unit and TSMC its factories, which could address Intel's manufacturing challenges. This week, investors will focus on the (i) FOMC meeting minutes, (ii) initial jobless claims and (iii) the S&P Global Services PMI. In the commodities market, Brent oil is maintaining above USD75/barrel, gold prices are trading near its all-time high, and CPO prices are hovering above RM4,500/tonne.
Sector Focus: HARTA’s results triggered panic selling across other glove counters, but we remain cautiously optimistic, as its cumulative 9MFY25 net profit stood at RM60.1m (vs. -RM2.4m YoY). Also, the consensus TP stood at RM3.58. Overall, we maintain a positive view on the glove sector, supported by (i) healthy restocking activities in the post-Covid era and (ii) the 50% + 10% tariffs on China-made gloves, may shift market dynamics in favour of local players. Following the recent earnings announcement, we favour MYEG as it achieved a record earnings milestone for FY24. For a more conservative play, traders may focus on healthcare stocks like KPJ.
Stocks to watch:
Property: *ECOWLD*, EXSIMHB, *SUNWAY*
Building material: SCGBHD, *UNIQUE*
Technology: KGB, *MYEG*
Healthcare: *KPJ*
Automotive: BETA
Source: M+
A Highly Volatile Environment
The local bourse rebounded from its losses, driven by gains in banking and telecommunications heavyweights. Meanwhile, Wall Street edged marginally higher, with the S&P 500 reaching an all-time high, as Intel surged on reports that Broadcom and TSMC are exploring a split, with Broadcom eyeing its chip design unit and TSMC its factories, which could address Intel's manufacturing challenges. This week, investors will focus on the (i) FOMC meeting minutes, (ii) initial jobless claims and (iii) the S&P Global Services PMI. In the commodities market, Brent oil is maintaining above USD75/barrel, gold prices are trading near its all-time high, and CPO prices are hovering above RM4,500/tonne.
Sector Focus: HARTA’s results triggered panic selling across other glove counters, but we remain cautiously optimistic, as its cumulative 9MFY25 net profit stood at RM60.1m (vs. -RM2.4m YoY). Also, the consensus TP stood at RM3.58. Overall, we maintain a positive view on the glove sector, supported by (i) healthy restocking activities in the post-Covid era and (ii) the 50% + 10% tariffs on China-made gloves, may shift market dynamics in favour of local players. Following the recent earnings announcement, we favour MYEG as it achieved a record earnings milestone for FY24. For a more conservative play, traders may focus on healthcare stocks like KPJ.
Stocks to watch:
Property: *ECOWLD*, EXSIMHB, *SUNWAY*
Building material: SCGBHD, *UNIQUE*
Technology: KGB, *MYEG*
Healthcare: *KPJ*
Automotive: BETA
Source: M+
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M+ Market Wrap - 19Feb25
FBM KLCI: 1,580.88 pts (-3.96pts, -0.25%)
The FBMKLCI (-0.25%) reversed once again after a one-day rebound, closing lower at 1580.88 pts as key heavyweights like CIMB (-11.0 sen) and MRDIY (-10.0 sen) dragged the key index lower. Market breadth was also negative, with 754 losers against 274 winners. In the broader market, all sectors ended in red except Construction (+0.29%), buoyed by gains in GAMUDA (+7.0 sen) and BNASTRA (+4.0 sen). Meanwhile, the Healthcare (-1.95%) sector continued to decline further, as negative sentiment toward glove counters persisted with analysts slashing HARTA’s earnings outlook.
Top 3 Active stocks:
HARTA (5168): RM2.440 (-17.0 sen)
TOPGLOV (7113): RM0.970 (-3.0 sen)
MYEG (0138): RM1.000 (-3.0 sen)
Volume: 3.43 bn (100-bar avg vol: 2.94 bn)
Value: RM2.65 bn (100-bar avg val: RM2.56 bn)
Market Breadth: ⬆️274 ⬇️754
Crude palm oil: RM4,661 (+RM157)
Dow Futures: 44,669 pts (+26 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,580.88 pts (-3.96pts, -0.25%)
The FBMKLCI (-0.25%) reversed once again after a one-day rebound, closing lower at 1580.88 pts as key heavyweights like CIMB (-11.0 sen) and MRDIY (-10.0 sen) dragged the key index lower. Market breadth was also negative, with 754 losers against 274 winners. In the broader market, all sectors ended in red except Construction (+0.29%), buoyed by gains in GAMUDA (+7.0 sen) and BNASTRA (+4.0 sen). Meanwhile, the Healthcare (-1.95%) sector continued to decline further, as negative sentiment toward glove counters persisted with analysts slashing HARTA’s earnings outlook.
Top 3 Active stocks:
HARTA (5168): RM2.440 (-17.0 sen)
TOPGLOV (7113): RM0.970 (-3.0 sen)
MYEG (0138): RM1.000 (-3.0 sen)
Volume: 3.43 bn (100-bar avg vol: 2.94 bn)
Value: RM2.65 bn (100-bar avg val: RM2.56 bn)
Market Breadth: ⬆️274 ⬇️754
Crude palm oil: RM4,661 (+RM157)
Dow Futures: 44,669 pts (+26 pts)
**Source: Bloomberg, M+**
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