M+ Market Wrap - 8Apr25
FBM KLCI: 1,443.56 pts (-0.24pts, -0.02%)
Bucking the positive regional peers’ performance, the FBMKLCI (-0.02%) traded flat, as Plantation heavyweights failed to hold onto its morning gains. However, market breadth was positive with gainers outpacing losers by 669-to-367 stocks. On the broader market, The Construction (+2.61%) sector outperformed, as bargain hunting emerge within GAMUDA (+8.0 sen) and SUNCON (+27.0 sen) while Plantation (-1.76%) stocks declined the most.
Top 3 Active stocks:
MYEG (0138): RM0.770 (+6.0 sen)
REVENUE (0200): RM 0.095 (+1.0 sen)
INARI (0166): RM1.550 (+1.0 sen)
Volume: 3.32 bn (100-bar avg vol: 3.00 bn)
Value: RM2.83 bn (100-bar avg val: RM2.62 bn)
Market Breadth: ⬆️669⬇️367
Crude palm oil: RM4,196 (+RM11)
Dow Futures: 38,922 pts (+757 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,443.56 pts (-0.24pts, -0.02%)
Bucking the positive regional peers’ performance, the FBMKLCI (-0.02%) traded flat, as Plantation heavyweights failed to hold onto its morning gains. However, market breadth was positive with gainers outpacing losers by 669-to-367 stocks. On the broader market, The Construction (+2.61%) sector outperformed, as bargain hunting emerge within GAMUDA (+8.0 sen) and SUNCON (+27.0 sen) while Plantation (-1.76%) stocks declined the most.
Top 3 Active stocks:
MYEG (0138): RM0.770 (+6.0 sen)
REVENUE (0200): RM 0.095 (+1.0 sen)
INARI (0166): RM1.550 (+1.0 sen)
Volume: 3.32 bn (100-bar avg vol: 3.00 bn)
Value: RM2.83 bn (100-bar avg val: RM2.62 bn)
Market Breadth: ⬆️669⬇️367
Crude palm oil: RM4,196 (+RM11)
Dow Futures: 38,922 pts (+757 pts)
**Source: Bloomberg, M+**
👍2
M+ Morning Market Buzz - 9Apr25
Dow Jones: 37,645.59 pts (-320.01pts, -0.84%)
⬆️ Resistance: 43300
⬇️ Support: 35900
FBM KLCI: 1,443.56 pts (-0.24pts, -0.02%)
⬆️ Resistance: 1560
⬇️ Support: 1400
HSI Index: 20,127.68 pts (+299.38pts, +1.51%)
⬆️ Resistance: 23900
⬇️ Support: 19400
Crude Palm Oil: RM4,188 (+RM22, +0.53%)
⬆️ Resistance: 4640
⬇️ Support: 4080
Brent Oil: $62.82 (-$1.39, -2.16%)
⬆️ Resistance: 77.00
⬇️ Support: 60.20
Gold: $2,983.27 (-$2.20, -0.07%)
⬆️ Resistance: 3240
⬇️ Support: 2900
Source: Bloomberg, M+
Dow Jones: 37,645.59 pts (-320.01pts, -0.84%)
⬆️ Resistance: 43300
⬇️ Support: 35900
FBM KLCI: 1,443.56 pts (-0.24pts, -0.02%)
⬆️ Resistance: 1560
⬇️ Support: 1400
HSI Index: 20,127.68 pts (+299.38pts, +1.51%)
⬆️ Resistance: 23900
⬇️ Support: 19400
Crude Palm Oil: RM4,188 (+RM22, +0.53%)
⬆️ Resistance: 4640
⬇️ Support: 4080
Brent Oil: $62.82 (-$1.39, -2.16%)
⬆️ Resistance: 77.00
⬇️ Support: 60.20
Gold: $2,983.27 (-$2.20, -0.07%)
⬆️ Resistance: 3240
⬇️ Support: 2900
Source: Bloomberg, M+
👍3🥰1👏1
M+ Market Update – 09Apr25
Renewed Selling May Spillover To Local Bourse
US: Escalating trade tensions sent Wall Street into a tailspin on Tuesday, as the S&P 500 closed below 5,000 for the first time in nearly a year. President Trump’s renewed tariff push, which set to hike tariffs on Chinese goods by an additional 50% at midnight, fuelled fears of a broader full blown global trade war. The move comes in response to China’s six retaliation measures against US. Hence, we believe the Wall Street may continue to stay in the negative mood, at least for the near term. In the commodities market, Brent oil retreated further below USD62, while Gold traded below the psychological level at USD3,000. CPO prices are trading around RM4,200.
MY: Following President Trump’s sweeping reciprocal tariffs worldwide, markets are now more likely to stay negative, awaiting further clarity on US trade policy. Under this scenario, we continue to favour the defensive sectors, including REITs, Consumer Products & Services, Utilities, and Healthcare — particularly hospitals — which have shown relative stability even during broader market declines. Meanwhile, with President Trump threatening to impose an additional 50% tariff on China, we believe this could bode well for sentiment across local glove counters, where they have shown oversold signals for the past few weeks.
Stocks to watch:
Construction: *BNASTRA*, SUNCON
Healthcare: *HARTA*, *KPJ*
Solar: *PEKAT*
Consumer: *UCHITEC*
Utility: KJTS
Plantation: INNO
Source: M+, Bloomberg
Renewed Selling May Spillover To Local Bourse
US: Escalating trade tensions sent Wall Street into a tailspin on Tuesday, as the S&P 500 closed below 5,000 for the first time in nearly a year. President Trump’s renewed tariff push, which set to hike tariffs on Chinese goods by an additional 50% at midnight, fuelled fears of a broader full blown global trade war. The move comes in response to China’s six retaliation measures against US. Hence, we believe the Wall Street may continue to stay in the negative mood, at least for the near term. In the commodities market, Brent oil retreated further below USD62, while Gold traded below the psychological level at USD3,000. CPO prices are trading around RM4,200.
MY: Following President Trump’s sweeping reciprocal tariffs worldwide, markets are now more likely to stay negative, awaiting further clarity on US trade policy. Under this scenario, we continue to favour the defensive sectors, including REITs, Consumer Products & Services, Utilities, and Healthcare — particularly hospitals — which have shown relative stability even during broader market declines. Meanwhile, with President Trump threatening to impose an additional 50% tariff on China, we believe this could bode well for sentiment across local glove counters, where they have shown oversold signals for the past few weeks.
Stocks to watch:
Construction: *BNASTRA*, SUNCON
Healthcare: *HARTA*, *KPJ*
Solar: *PEKAT*
Consumer: *UCHITEC*
Utility: KJTS
Plantation: INNO
Source: M+, Bloomberg
👍4
M+ Market Wrap - 9Apr25
FBM KLCI: 1,400.59 pts (-42.97pts, -2.98%)
With Trump’s April 9th reciprocal tariffs coming into force, selling pressure on the FBMKLCI (-2.98%) extended for the fourth consecutive day, closing lower at 1,400.59 pts, as risk-off sentiment in the key index persisted. Market breadth remained negative, with 919 losers against 224 winners. In the broader market, all sectors ended in negative territory, with Energy (-4.94%) declining the most as oil prices continued to fall.
Top 3 Active stocks:
SUMI (0349): RM0.180 (-6.0 sen)
MYEG (0200): RM 0.755 (-1.5 sen)
SUPERMX (7106): RM0.805 (+3.0 sen)
Volume: 3.77 bn (100-bar avg vol: 3.02 bn)
Value: RM3.79 bn (100-bar avg val: RM2.61 bn)
Market Breadth: ⬆️224⬇️919
Crude palm oil: RM4,147 (-RM41)
Dow Futures: 37,885 pts (+23 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,400.59 pts (-42.97pts, -2.98%)
With Trump’s April 9th reciprocal tariffs coming into force, selling pressure on the FBMKLCI (-2.98%) extended for the fourth consecutive day, closing lower at 1,400.59 pts, as risk-off sentiment in the key index persisted. Market breadth remained negative, with 919 losers against 224 winners. In the broader market, all sectors ended in negative territory, with Energy (-4.94%) declining the most as oil prices continued to fall.
Top 3 Active stocks:
SUMI (0349): RM0.180 (-6.0 sen)
MYEG (0200): RM 0.755 (-1.5 sen)
SUPERMX (7106): RM0.805 (+3.0 sen)
Volume: 3.77 bn (100-bar avg vol: 3.02 bn)
Value: RM3.79 bn (100-bar avg val: RM2.61 bn)
Market Breadth: ⬆️224⬇️919
Crude palm oil: RM4,147 (-RM41)
Dow Futures: 37,885 pts (+23 pts)
**Source: Bloomberg, M+**
😁2
M+ Morning Market Buzz - 10Apr25
Dow Jones: 40,608.45 pts (+2962.86pts, +7.87%)
⬆️ Resistance: 42000
⬇️ Support: 35900
FBM KLCI: 1,400.59 pts (-42.97pts, -2.98%)
⬆️ Resistance: 1560
⬇️ Support: 1360
HSI Index: 20,264.49 pts (+136.81pts, +0.68%)
⬆️ Resistance: 23500
⬇️ Support: 18900
Crude Palm Oil: RM4,148 (+RM10, +0.24%)
⬆️ Resistance: 4630
⬇️ Support: 4010
Brent Oil: $65.48 (+$2.66, +4.23%)
⬆️ Resistance: 74.90
⬇️ Support: 57.30
Gold: $3,082.70 (+$1.36, +0.04%)
⬆️ Resistance: 3240
⬇️ Support: 2900
Source: Bloomberg, M+
Dow Jones: 40,608.45 pts (+2962.86pts, +7.87%)
⬆️ Resistance: 42000
⬇️ Support: 35900
FBM KLCI: 1,400.59 pts (-42.97pts, -2.98%)
⬆️ Resistance: 1560
⬇️ Support: 1360
HSI Index: 20,264.49 pts (+136.81pts, +0.68%)
⬆️ Resistance: 23500
⬇️ Support: 18900
Crude Palm Oil: RM4,148 (+RM10, +0.24%)
⬆️ Resistance: 4630
⬇️ Support: 4010
Brent Oil: $65.48 (+$2.66, +4.23%)
⬆️ Resistance: 74.90
⬇️ Support: 57.30
Gold: $3,082.70 (+$1.36, +0.04%)
⬆️ Resistance: 3240
⬇️ Support: 2900
Source: Bloomberg, M+
👏2
M+ Market Update – 10Apr25
Relief Rally Expected
US: Wall Street snapped its losses overnight as President Trump paused his reciprocal tariffs plan for 90 days for most other countries who had not retaliated, except China which will be raised toward 125%. These moves eased concerns over a full-blown trade war and recessionary fears. We believe the 90-day pause should help avert a potential recession, but investors will be looking beyond this period to gauge President Trump’s next steps. Traders will be monitoring both the US and China CPI data today. In the commodities market, Brent oil regained its momentum above USD65, while gold traded back above the psychological level of USD3,000. CPO prices are hovering below RM4,200/ tonne.
MY: With President Trump pausing the reciprocal tariffs plan for a period of 90-day, we expect the local bourse to stage a relief rally today, tracking the positive overnight performance in the US. However, since the pause is for a period of 90-day and with the ongoing uncertain market environment, we continue to favour the domestic-driven and defensive sectors, including Construction, REITs, Consumer Products & Services, Utilities, and Healthcare, particularly hospitals. The 125% tariff on China could bode well for our local glove manufacturers, some of which are showing signs of bottoming out.
Stocks to watch:
Gloves: *KOSSAN*, *SUPERMX*
Telco & Technology: *GENETEC*, TIMECOM
Construction: BNASTRA
O&G: *DELEUM*
Consumer: *UCHITEC*
Property: KSL
Solar: PEKAT
Financial: RHBBANK
Source: M+
Relief Rally Expected
US: Wall Street snapped its losses overnight as President Trump paused his reciprocal tariffs plan for 90 days for most other countries who had not retaliated, except China which will be raised toward 125%. These moves eased concerns over a full-blown trade war and recessionary fears. We believe the 90-day pause should help avert a potential recession, but investors will be looking beyond this period to gauge President Trump’s next steps. Traders will be monitoring both the US and China CPI data today. In the commodities market, Brent oil regained its momentum above USD65, while gold traded back above the psychological level of USD3,000. CPO prices are hovering below RM4,200/ tonne.
MY: With President Trump pausing the reciprocal tariffs plan for a period of 90-day, we expect the local bourse to stage a relief rally today, tracking the positive overnight performance in the US. However, since the pause is for a period of 90-day and with the ongoing uncertain market environment, we continue to favour the domestic-driven and defensive sectors, including Construction, REITs, Consumer Products & Services, Utilities, and Healthcare, particularly hospitals. The 125% tariff on China could bode well for our local glove manufacturers, some of which are showing signs of bottoming out.
Stocks to watch:
Gloves: *KOSSAN*, *SUPERMX*
Telco & Technology: *GENETEC*, TIMECOM
Construction: BNASTRA
O&G: *DELEUM*
Consumer: *UCHITEC*
Property: KSL
Solar: PEKAT
Financial: RHBBANK
Source: M+
👍10
M+ Market Wrap - 10Apr25
FBM KLCI: 1,463.13 pts (+62.54pts, +4.47%)
Following President Trump pausing his reciprocal tariff plans for 90 days for countries that did not retaliate, including Malaysia, the FBMKLCI (+4.47%) snapped its 4-day losses and closed higher at 1463.13 pts. The market breadth had also turned positive, with 1075 gainers against 183 losers. In the broader market, all sectors ended in the positive territory, with Technology (+11.53%) sector gaining the most as the intensified US-China trade war is expected to benefit the local technology companies.
Top 3 Active stocks:
MYEG (0138): RM0.835 (+8.0 sen)
TOPGLOV (7113): RM 0.910 (+9.0 sen)
SUMI (0349): RM0.190 (+1.0 sen)
Volume: 4.41 bn (100-bar avg vol: 3.03 bn)
Value: RM3.81 bn (100-bar avg val: RM2.63 bn)
Market Breadth: ⬆️1075⬇️183
Crude palm oil: RM4,184 (+RM36)
Dow Futures: 40,113 pts (-723 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,463.13 pts (+62.54pts, +4.47%)
Following President Trump pausing his reciprocal tariff plans for 90 days for countries that did not retaliate, including Malaysia, the FBMKLCI (+4.47%) snapped its 4-day losses and closed higher at 1463.13 pts. The market breadth had also turned positive, with 1075 gainers against 183 losers. In the broader market, all sectors ended in the positive territory, with Technology (+11.53%) sector gaining the most as the intensified US-China trade war is expected to benefit the local technology companies.
Top 3 Active stocks:
MYEG (0138): RM0.835 (+8.0 sen)
TOPGLOV (7113): RM 0.910 (+9.0 sen)
SUMI (0349): RM0.190 (+1.0 sen)
Volume: 4.41 bn (100-bar avg vol: 3.03 bn)
Value: RM3.81 bn (100-bar avg val: RM2.63 bn)
Market Breadth: ⬆️1075⬇️183
Crude palm oil: RM4,184 (+RM36)
Dow Futures: 40,113 pts (-723 pts)
**Source: Bloomberg, M+**
👍2🥰1
M+ Morning Market Buzz - 11Apr25
Dow Jones: 39,593.66 pts (-1014.79pts, -2.50%)
⬆️ Resistance: 41600
⬇️ Support: 35900
FBM KLCI: 1,463.13 pts (+62.54pts, +4.47%)
⬆️ Resistance: 1550
⬇️ Support: 1360
HSI Index: 20,681.78 pts (+417.29pts, +2.06%)
⬆️ Resistance: 21700
⬇️ Support: 18900
Crude Palm Oil: RM4,200 (+RM19, +0.45%)
⬆️ Resistance: 4550
⬇️ Support: 4010
Brent Oil: $63.33 (-$2.15, -3.28%)
⬆️ Resistance: 71.60
⬇️ Support: 57.30
Gold: $3,176.23 (+$8.18, +0.26%)
⬆️ Resistance: 3240
⬇️ Support: 2900
Source: Bloomberg, M+
Dow Jones: 39,593.66 pts (-1014.79pts, -2.50%)
⬆️ Resistance: 41600
⬇️ Support: 35900
FBM KLCI: 1,463.13 pts (+62.54pts, +4.47%)
⬆️ Resistance: 1550
⬇️ Support: 1360
HSI Index: 20,681.78 pts (+417.29pts, +2.06%)
⬆️ Resistance: 21700
⬇️ Support: 18900
Crude Palm Oil: RM4,200 (+RM19, +0.45%)
⬆️ Resistance: 4550
⬇️ Support: 4010
Brent Oil: $63.33 (-$2.15, -3.28%)
⬆️ Resistance: 71.60
⬇️ Support: 57.30
Gold: $3,176.23 (+$8.18, +0.26%)
⬆️ Resistance: 3240
⬇️ Support: 2900
Source: Bloomberg, M+
👍2🥰1😁1
M+ Market Update – 11Apr25
Rebound Could Lose Momentum
US: Wall Street gave up its gains on mounting worries over the economic impacts of U.S. President Trump’s trade policies. While the US CPI came in much softer than expected in March, where CPI fell 0.1% MoM, we believe the ongoing tariff threats could force goods manufacturers to raise prices, which may later be reflected in the inflation data. Today, traders will keep track of the PPI data to gauge the economy’s health. In the commodities market, Brent oil snapped its gains and traded along USD63, while gold gained momentum and charged above USD3,180. CPO prices closed above RM4,200.
MY: Given that the current US tariff spread between Chinese and Malaysian medical gloves exceeds 100%, we believe local glove players stand to benefit significantly as the price gap between the two markets widens. Also, easing raw material prices and a weak ringgit environment could further boost glove demand and profitability. Besides, with the ban reversal of NVIDIA’s H20 AI chips to China, we see trading opportunities within DC-related counters like NATGATE, as the softer policy tone could provide short-term relief to the sector. Lastly, we think the defensive sectors like Utilities, Consumer, and REITs could weather through the uncertain trade war environment at least for the near term.
Stocks to watch:
Telco & Technology: NATGATE, *TM*, UNISEM
Healthcare: *KPJ*, SUPERMX, *HARTA*
REIT: *IGBREIT*
Construction: *BNASTRA*
Solar: PEKAT
Source: M+
Rebound Could Lose Momentum
US: Wall Street gave up its gains on mounting worries over the economic impacts of U.S. President Trump’s trade policies. While the US CPI came in much softer than expected in March, where CPI fell 0.1% MoM, we believe the ongoing tariff threats could force goods manufacturers to raise prices, which may later be reflected in the inflation data. Today, traders will keep track of the PPI data to gauge the economy’s health. In the commodities market, Brent oil snapped its gains and traded along USD63, while gold gained momentum and charged above USD3,180. CPO prices closed above RM4,200.
MY: Given that the current US tariff spread between Chinese and Malaysian medical gloves exceeds 100%, we believe local glove players stand to benefit significantly as the price gap between the two markets widens. Also, easing raw material prices and a weak ringgit environment could further boost glove demand and profitability. Besides, with the ban reversal of NVIDIA’s H20 AI chips to China, we see trading opportunities within DC-related counters like NATGATE, as the softer policy tone could provide short-term relief to the sector. Lastly, we think the defensive sectors like Utilities, Consumer, and REITs could weather through the uncertain trade war environment at least for the near term.
Stocks to watch:
Telco & Technology: NATGATE, *TM*, UNISEM
Healthcare: *KPJ*, SUPERMX, *HARTA*
REIT: *IGBREIT*
Construction: *BNASTRA*
Solar: PEKAT
Source: M+
👍1
M+ Market Update – 11Apr25
Rebound Could Lose Momentum
US: Wall Street gave up its gains on mounting worries over the economic impacts of U.S. President Trump’s trade policies. While the US CPI came in much softer than expected in March, where CPI fell 0.1% MoM, we believe the ongoing tariff threats could force goods manufacturers to raise prices, which may later be reflected in the inflation data. Today, traders will keep track of the PPI data to gauge the economy’s health. In the commodities market, Brent oil snapped its gains and traded along USD63, while gold gained momentum and charged above USD3,180. CPO prices closed above RM4,200.
MY: Given that the current US tariff spread between Chinese and Malaysian medical gloves exceeds 100%, we believe local glove players stand to benefit significantly as the price gap between the two markets widens. Also, easing raw material prices and a weak ringgit environment could further boost glove demand and profitability. Besides, with the ban reversal of NVIDIA’s H20 AI chips to China, we see trading opportunities within DC-related counters like NATGATE, as the softer policy tone could provide short-term relief to the sector. Lastly, we think the defensive sectors like Utilities, Consumer, and REITs could weather through the uncertain trade war environment at least for the near term.
Stocks to watch:
Telco & Technology: NATGATE, *TM*, UNISEM
Healthcare: *KPJ*, SUPERMX, *HARTA*
REIT: *IGBREIT*
Construction: *BNASTRA*
Solar: PEKAT
Source: M+
Rebound Could Lose Momentum
US: Wall Street gave up its gains on mounting worries over the economic impacts of U.S. President Trump’s trade policies. While the US CPI came in much softer than expected in March, where CPI fell 0.1% MoM, we believe the ongoing tariff threats could force goods manufacturers to raise prices, which may later be reflected in the inflation data. Today, traders will keep track of the PPI data to gauge the economy’s health. In the commodities market, Brent oil snapped its gains and traded along USD63, while gold gained momentum and charged above USD3,180. CPO prices closed above RM4,200.
MY: Given that the current US tariff spread between Chinese and Malaysian medical gloves exceeds 100%, we believe local glove players stand to benefit significantly as the price gap between the two markets widens. Also, easing raw material prices and a weak ringgit environment could further boost glove demand and profitability. Besides, with the ban reversal of NVIDIA’s H20 AI chips to China, we see trading opportunities within DC-related counters like NATGATE, as the softer policy tone could provide short-term relief to the sector. Lastly, we think the defensive sectors like Utilities, Consumer, and REITs could weather through the uncertain trade war environment at least for the near term.
Stocks to watch:
Telco & Technology: NATGATE, *TM*, UNISEM
Healthcare: *KPJ*, SUPERMX, *HARTA*
REIT: *IGBREIT*
Construction: *BNASTRA*
Solar: PEKAT
Source: M+
👍7
M+ Market Wrap - 11Apr25
FBM KLCI: 1,454.76 pts (-8.37pts, -0.57%)
Risk-off sentiment persists in the local bourse amid uncertainties surrounding the retaliatory actions between major trading partners. China, the world’s second-largest economy, is raising tariffs on US goods from 84% to 125%, effective tomorrow. Market breadth was neutral, with the gainers-to-losers ratio standing at 1-to-1. Consumer Products & Services outperformed, led by gains in GENM (+12.0 sen) and SIME (+7.0 sen), while Energy (-1.70%) stocks slid due to a weaker crude oil environment.
Top 3 Active stocks:
MYEG (0138): RM0.900 (+6.5 sen)
SUMI (0349): RM0.195 (+0.5 sen)
GAMUDA (5398): RM3.770 (-8.0 sen)
Volume: 2.80 bn (100-bar avg vol: 3.03 bn)
Value: RM2.46 bn (100-bar avg val: RM2.65 bn)
Market Breadth: ⬆️472⬇️444
Crude palm oil: RM4,192 (-RM8)
Dow Futures: 39,580 pts (-217 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,454.76 pts (-8.37pts, -0.57%)
Risk-off sentiment persists in the local bourse amid uncertainties surrounding the retaliatory actions between major trading partners. China, the world’s second-largest economy, is raising tariffs on US goods from 84% to 125%, effective tomorrow. Market breadth was neutral, with the gainers-to-losers ratio standing at 1-to-1. Consumer Products & Services outperformed, led by gains in GENM (+12.0 sen) and SIME (+7.0 sen), while Energy (-1.70%) stocks slid due to a weaker crude oil environment.
Top 3 Active stocks:
MYEG (0138): RM0.900 (+6.5 sen)
SUMI (0349): RM0.195 (+0.5 sen)
GAMUDA (5398): RM3.770 (-8.0 sen)
Volume: 2.80 bn (100-bar avg vol: 3.03 bn)
Value: RM2.46 bn (100-bar avg val: RM2.65 bn)
Market Breadth: ⬆️472⬇️444
Crude palm oil: RM4,192 (-RM8)
Dow Futures: 39,580 pts (-217 pts)
**Source: Bloomberg, M+**
👍4😁1
M+ Morning Market Buzz - 14Apr25
Dow Jones: 40,212.71 pts (+619.05pts, +1.56%)
⬆️ Resistance: 41600
⬇️ Support: 35900
FBM KLCI: 1,454.76 pts (-8.37pts, -0.57%)
⬆️ Resistance: 1510
⬇️ Support: 1360
HSI Index: 20,914.69 pts (+232.91pts, +1.13%)
⬆️ Resistance: 21700
⬇️ Support: 18900
Crude Palm Oil: RM4,212 (+RM12, +0.29%)
⬆️ Resistance: 4380
⬇️ Support: 4010
Brent Oil: $64.76 (+$0.08, +0.12%)
⬆️ Resistance: 68.80
⬇️ Support: 57.30
Gold: $3,237.61 (-$15.48, -0.48%)
⬆️ Resistance: 3320
⬇️ Support: 2900
Source: Bloomberg, M+
Dow Jones: 40,212.71 pts (+619.05pts, +1.56%)
⬆️ Resistance: 41600
⬇️ Support: 35900
FBM KLCI: 1,454.76 pts (-8.37pts, -0.57%)
⬆️ Resistance: 1510
⬇️ Support: 1360
HSI Index: 20,914.69 pts (+232.91pts, +1.13%)
⬆️ Resistance: 21700
⬇️ Support: 18900
Crude Palm Oil: RM4,212 (+RM12, +0.29%)
⬆️ Resistance: 4380
⬇️ Support: 4010
Brent Oil: $64.76 (+$0.08, +0.12%)
⬆️ Resistance: 68.80
⬇️ Support: 57.30
Gold: $3,237.61 (-$15.48, -0.48%)
⬆️ Resistance: 3320
⬇️ Support: 2900
Source: Bloomberg, M+
👍2🥰2😁2
M+ Market Update – 13Apr25
Awaiting Developments From President Xi's Visit
US: Wall Street remains under pressure as ongoing US-China trade tensions continue to weigh on sentiment. With little progress toward de-escalation, we expect geopolitical uncertainty to persist, fuelling continued USD softness and supporting strength in G10 currencies like JPY. Also, commerce secretary noted that the current tariff relief on electronic devices is only temporary, with new tariffs on tech products expected to take effect within the next 2 months. Upcoming US economic data this week include Mar retail sales, May NY Fed 1Y inflation expectations and Mar IPI/EPI numbers. In commodities, Brent oil traded range-bound at USD64/bbl, while gold climbed to USD3,219/oz. CPO prices remained stable at RM4,200/MT.
MY: We expect traders to closely monitor President’s Xi visit to Malaysia from 15-17 April, with hopes for increased investment flows into Malaysia. Meanwhile, we believe Malaysia gloves could benefit from the widening tariff differential against the Chinese gloves. Coupled with easing raw material costs, this could support stronger demand and margin expansion. On the tech front, the reversal of export restrictions on NVIDIA’s H20 AI chips to China may provide a short-term reprieve for the data centre supply chain, but the reports of a potential “special-focus” tariff on semiconductors by China could keep the market sentiment volatile in the near term.
Stocks to watch:
Technology: *DUFU*, KGB, *OPPSTAR*
Utility: GASMSIA, *KJTS*, *PEKAT*
Telco: *TIMECOM*, TM
REIT: IGBREIT
Source: M+
Awaiting Developments From President Xi's Visit
US: Wall Street remains under pressure as ongoing US-China trade tensions continue to weigh on sentiment. With little progress toward de-escalation, we expect geopolitical uncertainty to persist, fuelling continued USD softness and supporting strength in G10 currencies like JPY. Also, commerce secretary noted that the current tariff relief on electronic devices is only temporary, with new tariffs on tech products expected to take effect within the next 2 months. Upcoming US economic data this week include Mar retail sales, May NY Fed 1Y inflation expectations and Mar IPI/EPI numbers. In commodities, Brent oil traded range-bound at USD64/bbl, while gold climbed to USD3,219/oz. CPO prices remained stable at RM4,200/MT.
MY: We expect traders to closely monitor President’s Xi visit to Malaysia from 15-17 April, with hopes for increased investment flows into Malaysia. Meanwhile, we believe Malaysia gloves could benefit from the widening tariff differential against the Chinese gloves. Coupled with easing raw material costs, this could support stronger demand and margin expansion. On the tech front, the reversal of export restrictions on NVIDIA’s H20 AI chips to China may provide a short-term reprieve for the data centre supply chain, but the reports of a potential “special-focus” tariff on semiconductors by China could keep the market sentiment volatile in the near term.
Stocks to watch:
Technology: *DUFU*, KGB, *OPPSTAR*
Utility: GASMSIA, *KJTS*, *PEKAT*
Telco: *TIMECOM*, TM
REIT: IGBREIT
Source: M+
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Good Morning All,
Here’s our IPO note on WTEC Group Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.36 per share for WTEC, representing a 44.0% upside from its IPO price of RM0.25. This valuation is based on a P/E ratio of 18.0x, pegged to the mid-FY26F EPS of 2.04 sen. We believe the ascribed P/E is fair, as the 12-month forward P/E and historical average P/E among the Bursa Malaysia industrial products and trading members stand at 13.7x-22.8x. Meanwhile, despite having a smaller market capitalization of RM120.0m compared to the peer average of RM12868.2m, WTEC boasts a higher ROE of 30.0% and a net profit margin of 18.1%, outperforming the peer average of 5.8% and 10.4%, respectively.
Investment highlights include:
(i) Establishment of a new manufacturing facility
(ii) Enhancing production efficiency with new machinery
(iii) Quality certifications support access to key industries
(iv) Diversified customer base across industries and geographies
(v) GDP growth in Malaysia and Vietnam supports industry demand
Research Team, M+
14 Apr 2025
Here’s our IPO note on WTEC Group Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.36 per share for WTEC, representing a 44.0% upside from its IPO price of RM0.25. This valuation is based on a P/E ratio of 18.0x, pegged to the mid-FY26F EPS of 2.04 sen. We believe the ascribed P/E is fair, as the 12-month forward P/E and historical average P/E among the Bursa Malaysia industrial products and trading members stand at 13.7x-22.8x. Meanwhile, despite having a smaller market capitalization of RM120.0m compared to the peer average of RM12868.2m, WTEC boasts a higher ROE of 30.0% and a net profit margin of 18.1%, outperforming the peer average of 5.8% and 10.4%, respectively.
Investment highlights include:
(i) Establishment of a new manufacturing facility
(ii) Enhancing production efficiency with new machinery
(iii) Quality certifications support access to key industries
(iv) Diversified customer base across industries and geographies
(v) GDP growth in Malaysia and Vietnam supports industry demand
Research Team, M+
14 Apr 2025
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M+ Market Wrap - 14Apr25
FBM KLCI: 1,480.86 pts (+26.10pts, +1.79%)
The local bourse traded positively as Industrial Products & Services and Banking heavyweights buoyed the sentiment. Market breadth was positive, with gainers outpacing losers by 3-to-1 ratio. With the recent announcement of US tariff exemptions on key electronics and chips, Technology (+3.84%) stocks outperformed led by gains in INARI (+12.0 sen) and FRONTKN (+14.0 sen) while Health Care (-1.26%) declined the most.
Top 3 Active stocks:
MYEG (0138): RM0.925 (+2.5 sen)
T7GLOBAL (7228): RM0.285 (+2.5 sen)
INARI (0166): RM1.780 (+12.0 sen)
Volume: 2.99 bn (100-bar avg vol: 3.03 bn)
Value: RM2.06 bn (100-bar avg val: RM2.65 bn)
Market Breadth: ⬆️798⬇️248
Crude palm oil: RM4,143 (-RM69)
Dow Futures: 40,859 pts (+460 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,480.86 pts (+26.10pts, +1.79%)
The local bourse traded positively as Industrial Products & Services and Banking heavyweights buoyed the sentiment. Market breadth was positive, with gainers outpacing losers by 3-to-1 ratio. With the recent announcement of US tariff exemptions on key electronics and chips, Technology (+3.84%) stocks outperformed led by gains in INARI (+12.0 sen) and FRONTKN (+14.0 sen) while Health Care (-1.26%) declined the most.
Top 3 Active stocks:
MYEG (0138): RM0.925 (+2.5 sen)
T7GLOBAL (7228): RM0.285 (+2.5 sen)
INARI (0166): RM1.780 (+12.0 sen)
Volume: 2.99 bn (100-bar avg vol: 3.03 bn)
Value: RM2.06 bn (100-bar avg val: RM2.65 bn)
Market Breadth: ⬆️798⬇️248
Crude palm oil: RM4,143 (-RM69)
Dow Futures: 40,859 pts (+460 pts)
**Source: Bloomberg, M+**
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Good Evening All,
Here’s our IPO note on Reach Ten Holdings Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We ascribe a fair value of RM0.71 for REACHTEN. Our valuation is derived by pegging a forward P/E of 13.0x to the mid-FY26f EPS of 5.44 sen, implying a 36.5% upside to its IPO price of RM0.52. We believe the pegged P/E is fair given the 12-month forward P/E and trailing 12-month P/E among its closest peers stood at 13.3-16.5x. However, we do not rule out the possibility of the market pricing in higher multiples given its superior net margins compared to its closest peers.
Investment highlights include:
(i) Strong recurring revenue from broadband services
(ii) Beneficiary of Malaysia’s JENDELA program and 5G rollout
(iii) Quality certifications support access to key industries
(iv) A scalable economies of scale
(v) Higher tenancy ratios onwards
Please let me know if you have any questions. Have a nice day!
Research Team, M+
14 Apr 2025
Here’s our IPO note on Reach Ten Holdings Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We ascribe a fair value of RM0.71 for REACHTEN. Our valuation is derived by pegging a forward P/E of 13.0x to the mid-FY26f EPS of 5.44 sen, implying a 36.5% upside to its IPO price of RM0.52. We believe the pegged P/E is fair given the 12-month forward P/E and trailing 12-month P/E among its closest peers stood at 13.3-16.5x. However, we do not rule out the possibility of the market pricing in higher multiples given its superior net margins compared to its closest peers.
Investment highlights include:
(i) Strong recurring revenue from broadband services
(ii) Beneficiary of Malaysia’s JENDELA program and 5G rollout
(iii) Quality certifications support access to key industries
(iv) A scalable economies of scale
(v) Higher tenancy ratios onwards
Please let me know if you have any questions. Have a nice day!
Research Team, M+
14 Apr 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...
Good Evening All,
Here’s our IPO note on West River Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.56 per share for WESTRVR, representing a 43.6% upside from the IPO price of RM0.39. This valuation is based on a P/E ratio of 15.0x, pegged to mid-FY26f EPS of 3.75 sen. We believe the ascribed P/E is fair as the peer average P/E and forward P/E ratio stood at 11.0-15.7x.
Investment highlights include:
(i) Expansion of manufacturing and warehousing capacity
(ii) Expanding business development team to drive project wins
(iii) G7 and Class A licenses to undertake a wide range of high-value M&E works
(iv) Proprietary Neutron IoT system enhances business scalability
(v) Strong order book provides near- to mid-term earnings visibility
(vi) Favourable industry outlook supports long-term growth
Research Team, M+
14 Apr 2025
Here’s our IPO note on West River Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.56 per share for WESTRVR, representing a 43.6% upside from the IPO price of RM0.39. This valuation is based on a P/E ratio of 15.0x, pegged to mid-FY26f EPS of 3.75 sen. We believe the ascribed P/E is fair as the peer average P/E and forward P/E ratio stood at 11.0-15.7x.
Investment highlights include:
(i) Expansion of manufacturing and warehousing capacity
(ii) Expanding business development team to drive project wins
(iii) G7 and Class A licenses to undertake a wide range of high-value M&E works
(iv) Proprietary Neutron IoT system enhances business scalability
(v) Strong order book provides near- to mid-term earnings visibility
(vi) Favourable industry outlook supports long-term growth
Research Team, M+
14 Apr 2025
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M+ Morning Market Buzz - 15Apr25
Dow Jones: 40,524.79 pts (+312.08pts, +0.78%)
⬆️ Resistance: 41600
⬇️ Support: 36400
FBM KLCI: 1,480.86 pts (+26.10pts, +1.79%)
⬆️ Resistance: 1520
⬇️ Support: 1360
HSI Index: 21,417.40 pts (+502.71pts, +2.40%)
⬆️ Resistance: 22000
⬇️ Support: 18900
Crude Palm Oil: RM4,170 (-RM37, -0.89%)
⬆️ Resistance: 4370
⬇️ Support: 4010
Brent Oil: $64.88 (+$0.12, +0.19%)
⬆️ Resistance: 67.50
⬇️ Support: 57.30
Gold: $3,210.93 (+$1.45, +0.05%)
⬆️ Resistance: 3320
⬇️ Support: 2920
Source: Bloomberg, M+
Dow Jones: 40,524.79 pts (+312.08pts, +0.78%)
⬆️ Resistance: 41600
⬇️ Support: 36400
FBM KLCI: 1,480.86 pts (+26.10pts, +1.79%)
⬆️ Resistance: 1520
⬇️ Support: 1360
HSI Index: 21,417.40 pts (+502.71pts, +2.40%)
⬆️ Resistance: 22000
⬇️ Support: 18900
Crude Palm Oil: RM4,170 (-RM37, -0.89%)
⬆️ Resistance: 4370
⬇️ Support: 4010
Brent Oil: $64.88 (+$0.12, +0.19%)
⬆️ Resistance: 67.50
⬇️ Support: 57.30
Gold: $3,210.93 (+$1.45, +0.05%)
⬆️ Resistance: 3320
⬇️ Support: 2920
Source: Bloomberg, M+
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M+ Market Update – 15Apr25
Relief Rally Set to Extend Further
US: Wall Street closed higher after President Trump signalled a possible reprieve for automakers, suggesting that he may temporarily exempt the auto industry from the 25% tariffs imposed last month. This follows a recent reprieve on levies targeting electronics such as smartphones and semiconductors, ahead of next week’s unveiling of sector-specific tariff rates on imported semiconductors. on the economic front, investors will be looking into (i) Powell's speech, (ii) EU CPI (Mar), and (iii) China’s GDP (Q1). In commodities, Brent oil traded near USD65/barrel, while gold hover above USD3,200/oz. CPO prices broke below the RM4,200 level.
MY: With President Xi’s arrival in Malaysia today, we expect bullish momentum in FBMKLCI to persist on hopes of increased Chinese investments. Meanwhile, as China halts rare earth exports to the US, Malaysia has an opportunity to leverage its position to negotiate for tariff relief during the 90-day reprieve, as Malaysia hosts the world’s largest rare earth processing facility outside of China (Lynas). Also, we expect the negotiation may go well for the local semiconductor and glove sectors. Lastly, investors may also consider the IPO - MSB Global (M+ TP: RM0.26), which will be listing today.
Stocks to watch:
Utility: *KJTS*, MNHLDG, SCGBHD
Technology: *DUFU*, *PIE*
Telco: *TIMECOM*, *TM*
REIT: IGBREIT, SUNREIT
Financial: *RHBBANK*
Source: M+
Relief Rally Set to Extend Further
US: Wall Street closed higher after President Trump signalled a possible reprieve for automakers, suggesting that he may temporarily exempt the auto industry from the 25% tariffs imposed last month. This follows a recent reprieve on levies targeting electronics such as smartphones and semiconductors, ahead of next week’s unveiling of sector-specific tariff rates on imported semiconductors. on the economic front, investors will be looking into (i) Powell's speech, (ii) EU CPI (Mar), and (iii) China’s GDP (Q1). In commodities, Brent oil traded near USD65/barrel, while gold hover above USD3,200/oz. CPO prices broke below the RM4,200 level.
MY: With President Xi’s arrival in Malaysia today, we expect bullish momentum in FBMKLCI to persist on hopes of increased Chinese investments. Meanwhile, as China halts rare earth exports to the US, Malaysia has an opportunity to leverage its position to negotiate for tariff relief during the 90-day reprieve, as Malaysia hosts the world’s largest rare earth processing facility outside of China (Lynas). Also, we expect the negotiation may go well for the local semiconductor and glove sectors. Lastly, investors may also consider the IPO - MSB Global (M+ TP: RM0.26), which will be listing today.
Stocks to watch:
Utility: *KJTS*, MNHLDG, SCGBHD
Technology: *DUFU*, *PIE*
Telco: *TIMECOM*, *TM*
REIT: IGBREIT, SUNREIT
Financial: *RHBBANK*
Source: M+
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M+ Market Wrap - 15Apr25
FBM KLCI: 1,486.43 pts (+5.57pts, +0.38%)
The FBMKLCI (+0.38%) extended its gains, closing higher at 1,486.43 pts as gains in PMETAL (+22.0 sen) and YTLPOWR (+11.0 sen) lifted the key index higher. Market breadth was rather mixed, with 478 winners against 431 losers. In the broader market, Industrial Products & Services (+1.25%) gained the most, while Technology (-1.45%) performed the worst following US probes into the imports of semiconductors, which will set the stage for the Trump administration to impose sector-specific tariffs.
Top 3 Active stocks:
MSB (0350): RM0.170 (-3.0 sen)
VELOCITY (7165): RM0.080 (unch)
REACH (5256): RM0.005 (-1.0 sen)
Volume: 3.36 bn (100-bar avg vol: 3.03 bn)
Value: RM1.91 bn (100-bar avg val: RM2.65 bn)
Market Breadth: ⬆️478⬇️431
Crude palm oil: RM4,125 (-RM45)
Dow Futures: 40,759 pts (+18 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,486.43 pts (+5.57pts, +0.38%)
The FBMKLCI (+0.38%) extended its gains, closing higher at 1,486.43 pts as gains in PMETAL (+22.0 sen) and YTLPOWR (+11.0 sen) lifted the key index higher. Market breadth was rather mixed, with 478 winners against 431 losers. In the broader market, Industrial Products & Services (+1.25%) gained the most, while Technology (-1.45%) performed the worst following US probes into the imports of semiconductors, which will set the stage for the Trump administration to impose sector-specific tariffs.
Top 3 Active stocks:
MSB (0350): RM0.170 (-3.0 sen)
VELOCITY (7165): RM0.080 (unch)
REACH (5256): RM0.005 (-1.0 sen)
Volume: 3.36 bn (100-bar avg vol: 3.03 bn)
Value: RM1.91 bn (100-bar avg val: RM2.65 bn)
Market Breadth: ⬆️478⬇️431
Crude palm oil: RM4,125 (-RM45)
Dow Futures: 40,759 pts (+18 pts)
**Source: Bloomberg, M+**
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