Good Evening All,
We issued a technical buy call on Vital Farms Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Stronger demand ahead of Easter season
(ii) Upgrade in FY25 guidance
(iii) Growing preference for specialty eggs
Research Team, M+
15 Apr 2025
We issued a technical buy call on Vital Farms Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Stronger demand ahead of Easter season
(ii) Upgrade in FY25 guidance
(iii) Growing preference for specialty eggs
Research Team, M+
15 Apr 2025
👍4
M+ Morning Market Buzz - 16Apr25
Dow Jones: 40,368.96 pts (-155.83pts, -0.38%)
⬆️ Resistance: 41700
⬇️ Support: 36600
FBM KLCI: 1,486.43 pts (+5.57pts, +0.38%)
⬆️ Resistance: 1520
⬇️ Support: 1360
HSI Index: 21,466.27 pts (+48.87pts, +0.23%)
⬆️ Resistance: 22100
⬇️ Support: 18900
Crude Palm Oil: RM4,043 (+RM19, +0.47%)
⬆️ Resistance: 4350
⬇️ Support: 4000
Brent Oil: $64.67 (-$0.21, -0.32%)
⬆️ Resistance: 67.50
⬇️ Support: 57.30
Gold: $3,230.72 (+$5.02, +0.16%)
⬆️ Resistance: 3320
⬇️ Support: 2920
Source: Bloomberg, M+
Dow Jones: 40,368.96 pts (-155.83pts, -0.38%)
⬆️ Resistance: 41700
⬇️ Support: 36600
FBM KLCI: 1,486.43 pts (+5.57pts, +0.38%)
⬆️ Resistance: 1520
⬇️ Support: 1360
HSI Index: 21,466.27 pts (+48.87pts, +0.23%)
⬆️ Resistance: 22100
⬇️ Support: 18900
Crude Palm Oil: RM4,043 (+RM19, +0.47%)
⬆️ Resistance: 4350
⬇️ Support: 4000
Brent Oil: $64.67 (-$0.21, -0.32%)
⬆️ Resistance: 67.50
⬇️ Support: 57.30
Gold: $3,230.72 (+$5.02, +0.16%)
⬆️ Resistance: 3320
⬇️ Support: 2920
Source: Bloomberg, M+
👏3
M+ Market Update – 16Apr25
Slight Pause Anticipated In The Market
US: Wall Street closed lower after the Trump administration announced investigations into the imports of pharmaceutical and semiconductor products, determining whether to impose tariffs on these sectors. Healthcare stocks, including Moderna, Zimmer Biomet Holdings and Molina Healthcare, were among the biggest decliners on the day. On the economic front, investors will focus on (i) U.S. core retail sales (Mar), (ii) EU CPI (Mar) and (iii) China’s GDP (Q1). In commodities, Brent oil traded flat near USD65/barrel, while gold continued to hover above USD3,200/oz. CPO prices remained supported above the RM4,000 level.
MY: President Xi’s second day of his visit to Malaysia will continue to be a key focus in town. Meanwhile, despite the sell down in the local Technology index following the US probe into semiconductors imports, we believe that software-related stocks will be somewhat insulated from US tariff pressures. This might present bargain-hunting opportunities on cybersecurity-related counters such as CLOUDPT and LGMS, which are also benefiting from the increasing data centre investments in the country. Besides, the national utility company, TENAGA, which bagged a RM705m maintenance contract from the Kuwait government, is expected to continue benefiting from data centre and renewable energy investments in the country.
Stocks to watch:
Consumer: *KOPI*, SPRITZER
Telco: *TIMECOM*, TM
Healthcare: *KPJ*
Utility: *YTL*
Construction: *BNASTRA*
Logistics: WPRTS
Renewables: PEKAT
Source: M+
Slight Pause Anticipated In The Market
US: Wall Street closed lower after the Trump administration announced investigations into the imports of pharmaceutical and semiconductor products, determining whether to impose tariffs on these sectors. Healthcare stocks, including Moderna, Zimmer Biomet Holdings and Molina Healthcare, were among the biggest decliners on the day. On the economic front, investors will focus on (i) U.S. core retail sales (Mar), (ii) EU CPI (Mar) and (iii) China’s GDP (Q1). In commodities, Brent oil traded flat near USD65/barrel, while gold continued to hover above USD3,200/oz. CPO prices remained supported above the RM4,000 level.
MY: President Xi’s second day of his visit to Malaysia will continue to be a key focus in town. Meanwhile, despite the sell down in the local Technology index following the US probe into semiconductors imports, we believe that software-related stocks will be somewhat insulated from US tariff pressures. This might present bargain-hunting opportunities on cybersecurity-related counters such as CLOUDPT and LGMS, which are also benefiting from the increasing data centre investments in the country. Besides, the national utility company, TENAGA, which bagged a RM705m maintenance contract from the Kuwait government, is expected to continue benefiting from data centre and renewable energy investments in the country.
Stocks to watch:
Consumer: *KOPI*, SPRITZER
Telco: *TIMECOM*, TM
Healthcare: *KPJ*
Utility: *YTL*
Construction: *BNASTRA*
Logistics: WPRTS
Renewables: PEKAT
Source: M+
👍9
M+ Market Wrap - 16Apr25
FBM KLCI: 1,476.92 pts (-9.51pts, -0.64%)
In line with most of the regional peers' performance, the FBMKLCI (-0.64%) snapped its gains and closed lower at 1,476.92 pts, with losses in MAYBANK (-10.0 sen) and PMETAL (-13.0 sen) dragged the key index down. Tariff woes continue to drive negative sentiment across the region. Market breadth was negative, with 573 losers against 321 winners. In the broader market, all sectors ended in the negative territory except REIT (+0.02%), while Technology (-2.03%) continued to show the largest decline following US probes into semiconductor imports.
Top 3 Active stocks:
PERTAMA (8532): RM0.140 (+1.0 sen)
DATAPRP (8338): RM0.135 (-2.0 sen)
MYEG (0138): RM0.905 (-2.0 sen)
Volume: 3.00 bn (100-bar avg vol: 3.04 bn)
Value: RM1.65 bn (100-bar avg val: RM2.64 bn)
Market Breadth: ⬆️321⬇️573
Crude palm oil: RM4,033 (-RM10)
Dow Futures: 40,496 pts (-79 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,476.92 pts (-9.51pts, -0.64%)
In line with most of the regional peers' performance, the FBMKLCI (-0.64%) snapped its gains and closed lower at 1,476.92 pts, with losses in MAYBANK (-10.0 sen) and PMETAL (-13.0 sen) dragged the key index down. Tariff woes continue to drive negative sentiment across the region. Market breadth was negative, with 573 losers against 321 winners. In the broader market, all sectors ended in the negative territory except REIT (+0.02%), while Technology (-2.03%) continued to show the largest decline following US probes into semiconductor imports.
Top 3 Active stocks:
PERTAMA (8532): RM0.140 (+1.0 sen)
DATAPRP (8338): RM0.135 (-2.0 sen)
MYEG (0138): RM0.905 (-2.0 sen)
Volume: 3.00 bn (100-bar avg vol: 3.04 bn)
Value: RM1.65 bn (100-bar avg val: RM2.64 bn)
Market Breadth: ⬆️321⬇️573
Crude palm oil: RM4,033 (-RM10)
Dow Futures: 40,496 pts (-79 pts)
**Source: Bloomberg, M+**
👍2
Good Evening All,
Here’s our IPO note on Fibromat (M) Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We ascribe a fair value of RM0.70 for FIBROMAT, based on a 15.0x forward P/E to mid-FY26f EPS of 4.64 sen, implying 27.3% upside to its IPO price. Despite a 71.3-108.7% discount to peer averages, we believe this is justified as Bloomberg’s Construction and Engineering sector P/E (15.9-20.2x) is a more appropriate benchmark.
Investment highlights include:
(i) Future phases of existing and new projects likely in the bag,
(ii) Urbanisation and infrastructure push to drive demand for geotechnical solutions,
(iii) Diverse products to support projects’ flexibility.
Please let me know if you have any questions. Have a nice day!
Research Team, M+
16Apr25
Here’s our IPO note on Fibromat (M) Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We ascribe a fair value of RM0.70 for FIBROMAT, based on a 15.0x forward P/E to mid-FY26f EPS of 4.64 sen, implying 27.3% upside to its IPO price. Despite a 71.3-108.7% discount to peer averages, we believe this is justified as Bloomberg’s Construction and Engineering sector P/E (15.9-20.2x) is a more appropriate benchmark.
Investment highlights include:
(i) Future phases of existing and new projects likely in the bag,
(ii) Urbanisation and infrastructure push to drive demand for geotechnical solutions,
(iii) Diverse products to support projects’ flexibility.
Please let me know if you have any questions. Have a nice day!
Research Team, M+
16Apr25
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...
👍2
M+ Morning Market Buzz - 17Apr25
Dow Jones: 39,669.39 pts (-699.57pts, -1.73%)
⬆️ Resistance: 41700
⬇️ Support: 37700
FBM KLCI: 1,476.92 pts (-9.51pts, -0.64%)
⬆️ Resistance: 1520
⬇️ Support: 1410
HSI Index: 21,056.98 pts (-409.29pts, -1.91%)
⬆️ Resistance: 22100
⬇️ Support: 20100
Crude Palm Oil: RM4,015 (+RM19, +0.47%)
⬆️ Resistance: 4350
⬇️ Support: 3920
Brent Oil: $65.85 (+$1.18, +1.82%)
⬆️ Resistance: 67.70
⬇️ Support: 60.80
Gold: $3,343.12 (+$9.69, +0.29%)
⬆️ Resistance: 3420
⬇️ Support: 3020
Source: Bloomberg, M+
Dow Jones: 39,669.39 pts (-699.57pts, -1.73%)
⬆️ Resistance: 41700
⬇️ Support: 37700
FBM KLCI: 1,476.92 pts (-9.51pts, -0.64%)
⬆️ Resistance: 1520
⬇️ Support: 1410
HSI Index: 21,056.98 pts (-409.29pts, -1.91%)
⬆️ Resistance: 22100
⬇️ Support: 20100
Crude Palm Oil: RM4,015 (+RM19, +0.47%)
⬆️ Resistance: 4350
⬇️ Support: 3920
Brent Oil: $65.85 (+$1.18, +1.82%)
⬆️ Resistance: 67.70
⬇️ Support: 60.80
Gold: $3,343.12 (+$9.69, +0.29%)
⬆️ Resistance: 3420
⬇️ Support: 3020
Source: Bloomberg, M+
👍5🥰1👏1
M+ Market Wrap - 17Apr25
FBM KLCI: 1,483.27 pts (+6.35pts, +0.43%)
Following President Xi’s visit to Malaysia, exchanging 31 MOUs that will benefit the long term growth in Malaysia has provided positive sentiment to the local stock markets; the FBMKLCI (+0.43%) rebounded and closed higher at 1,483.27 pts, buoyed by gains in consumer heavyweights including NESTLE (+456.0 sen) and MRDIY (+9.0 sen). Most of the regional peers also edged higher as investors assessed trade negotiations between the US and Japan. Market breadth was positive, with 481 winners against 354 losers. In the broader market, Energy (+1.33%) outperformed, while Property (-0.67%) declined the most.
Top 3 Active stocks:
NEXG (5216): RM0.315 (+5.5 sen)
PERTAMA (8532): RM0.145 (+0.5 sen)
MYEG (0138): RM0.910 (+0.5 sen)
Volume: 2.45 bn (100-bar avg vol: 3.03 bn)
Value: RM1.61 bn (100-bar avg val: RM2.63 bn)
Market Breadth: ⬆️481⬇️354
Crude palm oil: RM4,032 (+RM17)
Dow Futures: 40,152 pts (+299 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,483.27 pts (+6.35pts, +0.43%)
Following President Xi’s visit to Malaysia, exchanging 31 MOUs that will benefit the long term growth in Malaysia has provided positive sentiment to the local stock markets; the FBMKLCI (+0.43%) rebounded and closed higher at 1,483.27 pts, buoyed by gains in consumer heavyweights including NESTLE (+456.0 sen) and MRDIY (+9.0 sen). Most of the regional peers also edged higher as investors assessed trade negotiations between the US and Japan. Market breadth was positive, with 481 winners against 354 losers. In the broader market, Energy (+1.33%) outperformed, while Property (-0.67%) declined the most.
Top 3 Active stocks:
NEXG (5216): RM0.315 (+5.5 sen)
PERTAMA (8532): RM0.145 (+0.5 sen)
MYEG (0138): RM0.910 (+0.5 sen)
Volume: 2.45 bn (100-bar avg vol: 3.03 bn)
Value: RM1.61 bn (100-bar avg val: RM2.63 bn)
Market Breadth: ⬆️481⬇️354
Crude palm oil: RM4,032 (+RM17)
Dow Futures: 40,152 pts (+299 pts)
**Source: Bloomberg, M+**
👍2
M+ Morning Market Buzz - 18Apr25
Dow Jones: 39,142.23 pts (-527.16pts, -1.33%)
⬆️ Resistance: 41700
⬇️ Support: 38200
FBM KLCI: 1,483.27 pts (+6.35pts, +0.43%)
⬆️ Resistance: 1520
⬇️ Support: 1410
HSI Index: 21,395.14 pts (+338.16pts, +1.61%)
⬆️ Resistance: 22100
⬇️ Support: 20100
Crude Palm Oil: RM4,011 (+RM30, +0.75%)
⬆️ Resistance: 4320
⬇️ Support: 3920
Brent Oil: $67.96 (+$2.11, +3.20%)
⬆️ Resistance: 69.60
⬇️ Support: 61.60
Gold: $3,326.85 (-$16.27, -0.49%)
⬆️ Resistance: 3430
⬇️ Support: 3120
Source: Bloomberg, M+
Dow Jones: 39,142.23 pts (-527.16pts, -1.33%)
⬆️ Resistance: 41700
⬇️ Support: 38200
FBM KLCI: 1,483.27 pts (+6.35pts, +0.43%)
⬆️ Resistance: 1520
⬇️ Support: 1410
HSI Index: 21,395.14 pts (+338.16pts, +1.61%)
⬆️ Resistance: 22100
⬇️ Support: 20100
Crude Palm Oil: RM4,011 (+RM30, +0.75%)
⬆️ Resistance: 4320
⬇️ Support: 3920
Brent Oil: $67.96 (+$2.11, +3.20%)
⬆️ Resistance: 69.60
⬇️ Support: 61.60
Gold: $3,326.85 (-$16.27, -0.49%)
⬆️ Resistance: 3430
⬇️ Support: 3120
Source: Bloomberg, M+
👍2😁2
M+ Market Update – 18Apr25
Slight Positive Sentiment Is Expected
US: Wall Street remains under pressure as Jerome Powell’s reluctance to cut the overnight rate weighs on sentiment and with little progress toward de-escalation of the trade war situation, we expect geopolitical uncertainty to persist, fuelling continued USD softness. Besides the unemployment claims came in strong at 215k, beating the forecast of 225k, the impact is muted as tariffs continue to blunt the broader economic trajectory. In the commodities market, Brent oil broke out of a positive triangle pattern toward USD66/bbl, while gold traded range-bound at USD3,327/oz. CPO prices remained stable at RM4,041/MT.
MY: Following President Xi’s visit to Malaysia, both countries exchanged 31 MOUs and agreements spanning multiple sectors like tourism, plantation, technology and construction. Meanwhile, we expect meaningful orders to flow to Malaysia’s glove manufacturers amid the widening tariff differential against Chinese gloves, in conjunction with easing raw material costs, which could further support stronger demand and margin expansion. Separately, we believe the Brownfield expansion, which is expected to increase KPJ’s bed capacity by ~10% this year, would further support the price momentum, compounded by medical tourism that would also help boost patient volume.
Stocks to watch:
Gold: *AUMAS*, TOMEI
REIT: IGBREIT, *SUNREIT*
Telco: *TIMECOM*, TM
Gloves: *SUPERMX*
Consumer: *KOPI*
Source: M+
Slight Positive Sentiment Is Expected
US: Wall Street remains under pressure as Jerome Powell’s reluctance to cut the overnight rate weighs on sentiment and with little progress toward de-escalation of the trade war situation, we expect geopolitical uncertainty to persist, fuelling continued USD softness. Besides the unemployment claims came in strong at 215k, beating the forecast of 225k, the impact is muted as tariffs continue to blunt the broader economic trajectory. In the commodities market, Brent oil broke out of a positive triangle pattern toward USD66/bbl, while gold traded range-bound at USD3,327/oz. CPO prices remained stable at RM4,041/MT.
MY: Following President Xi’s visit to Malaysia, both countries exchanged 31 MOUs and agreements spanning multiple sectors like tourism, plantation, technology and construction. Meanwhile, we expect meaningful orders to flow to Malaysia’s glove manufacturers amid the widening tariff differential against Chinese gloves, in conjunction with easing raw material costs, which could further support stronger demand and margin expansion. Separately, we believe the Brownfield expansion, which is expected to increase KPJ’s bed capacity by ~10% this year, would further support the price momentum, compounded by medical tourism that would also help boost patient volume.
Stocks to watch:
Gold: *AUMAS*, TOMEI
REIT: IGBREIT, *SUNREIT*
Telco: *TIMECOM*, TM
Gloves: *SUPERMX*
Consumer: *KOPI*
Source: M+
👍8
FBM KLCI: 1,499.40 pts (+16.13pts, +1.09%)
Friday’s session saw banking stocks lifting sentiment on the local front, with the Bursa Malaysia Finance Index surging +8% from its lowest point on 9 April, reflecting that traders have already priced in the current environment after the major sell-down last week. Market breadth was positive, with gainers outpacing losers at 543 to 246 stocks. While all sectors traded positively, the Transportation & Logistic sector underperformed, closing -0.31%.
Top 3 Active stocks:
INGENIEU (5178): RM0.040 (+1.0 sen)
NEXG (5216): RM0.320 (+0.5 sen)
TANCO (2429): RM0.890 (+3.0 sen)
Volume: 1.69 bn (100-bar avg vol: 3.02 bn)
Value: RM1.25 bn (100-bar avg val: RM2.62 bn)
Market Breadth: ⬆️481⬇️354
Crude palm oil: RM3,983 (-RM28)
Dow Futures: 39,329 pts (-524 pts)
**Source: Bloomberg, M+**
Friday’s session saw banking stocks lifting sentiment on the local front, with the Bursa Malaysia Finance Index surging +8% from its lowest point on 9 April, reflecting that traders have already priced in the current environment after the major sell-down last week. Market breadth was positive, with gainers outpacing losers at 543 to 246 stocks. While all sectors traded positively, the Transportation & Logistic sector underperformed, closing -0.31%.
Top 3 Active stocks:
INGENIEU (5178): RM0.040 (+1.0 sen)
NEXG (5216): RM0.320 (+0.5 sen)
TANCO (2429): RM0.890 (+3.0 sen)
Volume: 1.69 bn (100-bar avg vol: 3.02 bn)
Value: RM1.25 bn (100-bar avg val: RM2.62 bn)
Market Breadth: ⬆️481⬇️354
Crude palm oil: RM3,983 (-RM28)
Dow Futures: 39,329 pts (-524 pts)
**Source: Bloomberg, M+**
M+ Morning Market Buzz - 21Apr25
Dow Jones: 39,142.23 pts (-527.16pts, -1.33%)
⬆️ Resistance: 41700
⬇️ Support: 38200
FBM KLCI: 1,499.40 pts (+16.13pts, +1.09%)
⬆️ Resistance: 1530
⬇️ Support: 1450
HSI Index: 21,395.14 pts (+338.16pts, +1.61%)
⬆️ Resistance: 22100
⬇️ Support: 20500
Crude Palm Oil: RM3,975 (-RM36, -0.90%)
⬆️ Resistance: 4310
⬇️ Support: 3890
Brent Oil: $67.96 (-$0.89, -1.32%)
⬆️ Resistance: 69.60
⬇️ Support: 62.60
Gold: $3,326.85 (+$23.92, +0.57%)
⬆️ Resistance: 3430
⬇️ Support: 3130
Source: Bloomberg, M+
Dow Jones: 39,142.23 pts (-527.16pts, -1.33%)
⬆️ Resistance: 41700
⬇️ Support: 38200
FBM KLCI: 1,499.40 pts (+16.13pts, +1.09%)
⬆️ Resistance: 1530
⬇️ Support: 1450
HSI Index: 21,395.14 pts (+338.16pts, +1.61%)
⬆️ Resistance: 22100
⬇️ Support: 20500
Crude Palm Oil: RM3,975 (-RM36, -0.90%)
⬆️ Resistance: 4310
⬇️ Support: 3890
Brent Oil: $67.96 (-$0.89, -1.32%)
⬆️ Resistance: 69.60
⬇️ Support: 62.60
Gold: $3,326.85 (+$23.92, +0.57%)
⬆️ Resistance: 3430
⬇️ Support: 3130
Source: Bloomberg, M+
👍2👏1
M+ Market Update – 20Apr25
Rebound Accompanied By Lower Volume
US: Wall Street closed mixed last Thursday, with selective strengths seen in Eli Lilly and Apple, which helped offset broader market caution. Investor sentiment improved following optimistic trade rhetoric from President Trump, who cited “big progress” in US-Japan trade talks and expressed confidence in reaching a future deal with China. The VIX fell below the 30 mark. This week, investors will be focusing on the (i) S&P Global Manufacturing PMI (Apr), (ii) Durable Goods Order and (iii) Existing Home Sales (Mar). In the commodities market, Brent oil rebounded and headed higher towards USD68/barrel, while gold traded range-bound at USD3,327/oz. CPO prices broke below RM4,000/tonne.
MY: We expect the recovery in banking stocks to continue, following a decent performance of the Bursa Malaysia Finance index last Friday, as these counters are more domestically driven. However, we believe the current trade war may impact the global growth as businesses adopt a wait-and-see approach, potentially delaying expansion plans and dampening economic activity. This may contribute to a broader global slowdown and the upside of the banking stocks may be capped. Nevertheless, we favour the tourism, plantation, and construction sectors, which are expected to benefit from the 31 MOUs signed during President Xi’s visit to Malaysia.
Stocks to watch:
Finance: *CIMB*, RHBBANK
Utility: GASMSIA, *MNHLDG*
O&G: DAYANG, *DELEUM*
Healthcare: *SUPERMX*
Consumer: *KOPI*
Telco: *TM*
REIT: SUNREIT
Source: M+
Rebound Accompanied By Lower Volume
US: Wall Street closed mixed last Thursday, with selective strengths seen in Eli Lilly and Apple, which helped offset broader market caution. Investor sentiment improved following optimistic trade rhetoric from President Trump, who cited “big progress” in US-Japan trade talks and expressed confidence in reaching a future deal with China. The VIX fell below the 30 mark. This week, investors will be focusing on the (i) S&P Global Manufacturing PMI (Apr), (ii) Durable Goods Order and (iii) Existing Home Sales (Mar). In the commodities market, Brent oil rebounded and headed higher towards USD68/barrel, while gold traded range-bound at USD3,327/oz. CPO prices broke below RM4,000/tonne.
MY: We expect the recovery in banking stocks to continue, following a decent performance of the Bursa Malaysia Finance index last Friday, as these counters are more domestically driven. However, we believe the current trade war may impact the global growth as businesses adopt a wait-and-see approach, potentially delaying expansion plans and dampening economic activity. This may contribute to a broader global slowdown and the upside of the banking stocks may be capped. Nevertheless, we favour the tourism, plantation, and construction sectors, which are expected to benefit from the 31 MOUs signed during President Xi’s visit to Malaysia.
Stocks to watch:
Finance: *CIMB*, RHBBANK
Utility: GASMSIA, *MNHLDG*
O&G: DAYANG, *DELEUM*
Healthcare: *SUPERMX*
Consumer: *KOPI*
Telco: *TM*
REIT: SUNREIT
Source: M+
👍5
M+ Market Wrap - 21Apr25
FBM KLCI: 1,499.47 pts (+0.07pts, +0.00%)
Mirroring the mixed regional performances, the FBMKLCI closed flat, ending at 1,499.47 pts. Meanwhile, foreign investors extended their net selling in the Asian markets for the third consecutive week, with a substantial net outflow of RM16.8bn last week, and the market continues to trade in a risk-off mode. The market breadth was negative, with 512 losers against 308 winners. In the broader market, all the sectors ended in the negative territory except Telecommunications & Media (+0.60%) and Utilities (+0.14%), while Technology (-0.93%) saw the largest decline.
Top 3 Active stocks:
INGENIEU (5178): RM0.040 (unch)
NEXG (5216): RM0.345 (+2.5 sen)
TANCO (2429): RM0.880 (-1.0 sen)
Volume: 1.54 bn (100-bar avg vol: 3.01 bn)
Value: RM1.19 bn (100-bar avg val: RM2.61 bn)
Market Breadth: ⬆️308⬇️512
Crude palm oil: RM3,913 (-RM62)
Dow Futures: 38,974 pts (-355 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,499.47 pts (+0.07pts, +0.00%)
Mirroring the mixed regional performances, the FBMKLCI closed flat, ending at 1,499.47 pts. Meanwhile, foreign investors extended their net selling in the Asian markets for the third consecutive week, with a substantial net outflow of RM16.8bn last week, and the market continues to trade in a risk-off mode. The market breadth was negative, with 512 losers against 308 winners. In the broader market, all the sectors ended in the negative territory except Telecommunications & Media (+0.60%) and Utilities (+0.14%), while Technology (-0.93%) saw the largest decline.
Top 3 Active stocks:
INGENIEU (5178): RM0.040 (unch)
NEXG (5216): RM0.345 (+2.5 sen)
TANCO (2429): RM0.880 (-1.0 sen)
Volume: 1.54 bn (100-bar avg vol: 3.01 bn)
Value: RM1.19 bn (100-bar avg val: RM2.61 bn)
Market Breadth: ⬆️308⬇️512
Crude palm oil: RM3,913 (-RM62)
Dow Futures: 38,974 pts (-355 pts)
**Source: Bloomberg, M+**
👍1
M+ Morning Market Buzz - 22Apr25
Dow Jones: 38,170.41 pts (-971.82pts, -2.48%)
⬆️ Resistance: 41700
⬇️ Support: 37100
FBM KLCI: 1,499.47 pts (+0.07pts, +0.00%)
⬆️ Resistance: 1540
⬇️ Support: 1450
HSI Index: 21,395.14 pts (+338.16pts, +1.61%)
⬆️ Resistance: 22100
⬇️ Support: 20500
Crude Palm Oil: RM3,910 (-RM34, -0.87%)
⬆️ Resistance: 4260
⬇️ Support: 3830
Brent Oil: $66.26 (-$1.70, -2.50%)
⬆️ Resistance: 69.60
⬇️ Support: 62.60
Gold: $3,423.98 (+$8.44, +0.25%)
⬆️ Resistance: 3500
⬇️ Support: 3150
Source: Bloomberg, M+
Dow Jones: 38,170.41 pts (-971.82pts, -2.48%)
⬆️ Resistance: 41700
⬇️ Support: 37100
FBM KLCI: 1,499.47 pts (+0.07pts, +0.00%)
⬆️ Resistance: 1540
⬇️ Support: 1450
HSI Index: 21,395.14 pts (+338.16pts, +1.61%)
⬆️ Resistance: 22100
⬇️ Support: 20500
Crude Palm Oil: RM3,910 (-RM34, -0.87%)
⬆️ Resistance: 4260
⬇️ Support: 3830
Brent Oil: $66.26 (-$1.70, -2.50%)
⬆️ Resistance: 69.60
⬇️ Support: 62.60
Gold: $3,423.98 (+$8.44, +0.25%)
⬆️ Resistance: 3500
⬇️ Support: 3150
Source: Bloomberg, M+
👍2👏1
M+ Market Update – 22Apr25
Shifting Toward Defensive Sectors
US: Wall Street remained under pressure as U.S. President Donald Trump’s criticism of Jerome Powell weighed on investor sentiment regarding the central bank’s independence, especially amid ongoing uncertainty in US trade policies. With little progress toward de-escalation of the trade war, we expect Trump’s policies to continue painting an uncertain picture across global markets, putting further pressure on the Greenback. Wall Street is likely to trade lower in response to these concerns. On the economic front, investors will focus on (i) S&P Global Manufacturing PMI (Apr), and (ii) Unemployment Claims. In the commodities market, Brent oil retreated near the USD66/bbl, while gold continued to trade higher at USD3,430/oz. CPO prices, meanwhile, broke below RM3,900/MT.
MY: We see opportunities to accumulate positions in the Glove sector, as we expect higher order flows in the mid-term, given that Malaysia’s glove manufacturers are now more cost-optimised following U.S. tariffs on China. In addition to stable earnings and high dividend yields, we anticipate momentum in the Banking stocks. However, given the ongoing trade war as businesses adopt a wait-and-see approach, traders may shift their attention to domestically driven consumer sector and safe haven asset proxies to better weather the current economic uncertainty.
Stocks to watch:
Gold: AUMAS, *POHKONG*, *TOMEI*
Construction: *BNASTRA*, SUNCON
Consumer: *DXN*
Technology: *ITMAX*
O&G: HIBISCS
REIT: IGBREIT
Utility: PEKAT
Source: M+
Shifting Toward Defensive Sectors
US: Wall Street remained under pressure as U.S. President Donald Trump’s criticism of Jerome Powell weighed on investor sentiment regarding the central bank’s independence, especially amid ongoing uncertainty in US trade policies. With little progress toward de-escalation of the trade war, we expect Trump’s policies to continue painting an uncertain picture across global markets, putting further pressure on the Greenback. Wall Street is likely to trade lower in response to these concerns. On the economic front, investors will focus on (i) S&P Global Manufacturing PMI (Apr), and (ii) Unemployment Claims. In the commodities market, Brent oil retreated near the USD66/bbl, while gold continued to trade higher at USD3,430/oz. CPO prices, meanwhile, broke below RM3,900/MT.
MY: We see opportunities to accumulate positions in the Glove sector, as we expect higher order flows in the mid-term, given that Malaysia’s glove manufacturers are now more cost-optimised following U.S. tariffs on China. In addition to stable earnings and high dividend yields, we anticipate momentum in the Banking stocks. However, given the ongoing trade war as businesses adopt a wait-and-see approach, traders may shift their attention to domestically driven consumer sector and safe haven asset proxies to better weather the current economic uncertainty.
Stocks to watch:
Gold: AUMAS, *POHKONG*, *TOMEI*
Construction: *BNASTRA*, SUNCON
Consumer: *DXN*
Technology: *ITMAX*
O&G: HIBISCS
REIT: IGBREIT
Utility: PEKAT
Source: M+
👍4
M+ Market Wrap - 22Apr25
FBM KLCI: 1,486.25 pts (-13.22pts, -0.88%)
Tuesday’s session saw banking stocks led the decline on the local front, with profit-taking activities emerging on the Bursa Malaysia Finance Index after a sharp +8% rebound from its 9 April low towards yesterday's intraday high of 18,070.91pts, in tandem with mixed regional performance. Market breadth was negative, with decliners outnumbering advancers by 630-to-302. While all sectors ended the day in the red, Plantation (+0.07%) bucked the trend, supported by gains in SDG (+10.0 sen) and UTDPLT (+8.0 sen).
Top 3 Active stocks:
NEXG (5216): RM0.355 (+1.0 sen)
INGENIEU (5178): RM0.035 (-0.5 sen)
TANCO (2429): RM0.845 (-3.5 sen)
Volume: 3.43 bn (100-bar avg vol: 3.01 bn)
Value: RM1.66 bn (100-bar avg val: RM2.60 bn)
Market Breadth: ⬆️302⬇️630
Crude palm oil: RM3,953 (+RM43)
Dow Futures: 38,657 pts (+329 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,486.25 pts (-13.22pts, -0.88%)
Tuesday’s session saw banking stocks led the decline on the local front, with profit-taking activities emerging on the Bursa Malaysia Finance Index after a sharp +8% rebound from its 9 April low towards yesterday's intraday high of 18,070.91pts, in tandem with mixed regional performance. Market breadth was negative, with decliners outnumbering advancers by 630-to-302. While all sectors ended the day in the red, Plantation (+0.07%) bucked the trend, supported by gains in SDG (+10.0 sen) and UTDPLT (+8.0 sen).
Top 3 Active stocks:
NEXG (5216): RM0.355 (+1.0 sen)
INGENIEU (5178): RM0.035 (-0.5 sen)
TANCO (2429): RM0.845 (-3.5 sen)
Volume: 3.43 bn (100-bar avg vol: 3.01 bn)
Value: RM1.66 bn (100-bar avg val: RM2.60 bn)
Market Breadth: ⬆️302⬇️630
Crude palm oil: RM3,953 (+RM43)
Dow Futures: 38,657 pts (+329 pts)
**Source: Bloomberg, M+**
👍2😁1
M+ Morning Market Buzz - 23Apr25
Dow Jones: 39,186.98 pts (+1016.57pts, +2.66%)
⬆️ Resistance: 41300
⬇️ Support: 37100
FBM KLCI: 1,486.25 pts (-13.22pts, -0.88%)
⬆️ Resistance: 1540
⬇️ Support: 1450
HSI Index: 21,562.32 pts (+167.18pts, +0.78%)
⬆️ Resistance: 22100
⬇️ Support: 20500
Crude Palm Oil: RM3,966 (-RM21, -0.53%)
⬆️ Resistance: 4160
⬇️ Support: 3790
Brent Oil: $67.44 (+$1.18, +1.78%)
⬆️ Resistance: 69.60
⬇️ Support: 62.60
Gold: $3,380.63 (-$55.09, -1.63%)
⬆️ Resistance: 3580
⬇️ Support: 3170
Source: Bloomberg, M+
Dow Jones: 39,186.98 pts (+1016.57pts, +2.66%)
⬆️ Resistance: 41300
⬇️ Support: 37100
FBM KLCI: 1,486.25 pts (-13.22pts, -0.88%)
⬆️ Resistance: 1540
⬇️ Support: 1450
HSI Index: 21,562.32 pts (+167.18pts, +0.78%)
⬆️ Resistance: 22100
⬇️ Support: 20500
Crude Palm Oil: RM3,966 (-RM21, -0.53%)
⬆️ Resistance: 4160
⬇️ Support: 3790
Brent Oil: $67.44 (+$1.18, +1.78%)
⬆️ Resistance: 69.60
⬇️ Support: 62.60
Gold: $3,380.63 (-$55.09, -1.63%)
⬆️ Resistance: 3580
⬇️ Support: 3170
Source: Bloomberg, M+
👍5
M+ Market Update – 23Apr25
Positive Sentiment Returning
US: Wall Street rebounded on Tuesday, reversing Monday’s sharp losses, as investor sentiment improved following stronger corporate earnings and anticipation of easing US-China trade tensions; 3M’s stock jumped 3.4%, alongside gains in tech giants like Nvidia, Apple, and Tesla - the latter rose 4.6% ahead of its earnings report. Wall Street futures also remained positive at the time of writing. This week, traders will focus on key economic data, like the S&P Global Manufacturing PMI and Unemployment Claims, gauging the health of the US economy. In commodities, Brent hovered above USD67/bbl, while gold prices eased from record highs of USD3,500/oz. CPO prices remained stable at RM3,945/MT.
MY: Given the positive Wall Street futures, we expect bargain hunting activities to spillover into the local market with the Technology sector likely to be one of the key beneficiaries. Glove manufacturers could be undervalued due to potential mid-term recovery in order flows and improved cost competitiveness as US tariffs weigh on Chinese peers. Besides, we anticipate a rebound in the Banking sector due to stable earnings and attractive dividend yields. For a defensive positioning, investors may rotate into domestically oriented consumer names like 99SMART and safe-haven proxies to hedge against lingering economic turmoil.
Stocks to watch:
Consumer: 99SMART, *DXN*, KOPI, *MEGAFB*
Utility: *GASMSIA*, *MNHLDG*, PEKAT
Technology: *ITMAX*
REIT: IGBREIT, SUNREIT
Source: M+
Positive Sentiment Returning
US: Wall Street rebounded on Tuesday, reversing Monday’s sharp losses, as investor sentiment improved following stronger corporate earnings and anticipation of easing US-China trade tensions; 3M’s stock jumped 3.4%, alongside gains in tech giants like Nvidia, Apple, and Tesla - the latter rose 4.6% ahead of its earnings report. Wall Street futures also remained positive at the time of writing. This week, traders will focus on key economic data, like the S&P Global Manufacturing PMI and Unemployment Claims, gauging the health of the US economy. In commodities, Brent hovered above USD67/bbl, while gold prices eased from record highs of USD3,500/oz. CPO prices remained stable at RM3,945/MT.
MY: Given the positive Wall Street futures, we expect bargain hunting activities to spillover into the local market with the Technology sector likely to be one of the key beneficiaries. Glove manufacturers could be undervalued due to potential mid-term recovery in order flows and improved cost competitiveness as US tariffs weigh on Chinese peers. Besides, we anticipate a rebound in the Banking sector due to stable earnings and attractive dividend yields. For a defensive positioning, investors may rotate into domestically oriented consumer names like 99SMART and safe-haven proxies to hedge against lingering economic turmoil.
Stocks to watch:
Consumer: 99SMART, *DXN*, KOPI, *MEGAFB*
Utility: *GASMSIA*, *MNHLDG*, PEKAT
Technology: *ITMAX*
REIT: IGBREIT, SUNREIT
Source: M+
👍5
M+ Market Wrap - 23Apr25
FBM KLCI: 1,501.19 pts (+14.94pts, +1.01%)
With progress towards de-escalation of the trade war, the potential impact of President Trump’s protectionist trade policies faded and global markets cheered positively, lifting the local bourse by nearly 1%, led by gains in Industrial Products & Services and Banking heavyweights. Market breadth was positive with gainers outpacing losers by 3-to-1 ratio. Inari and Frontken buoyed sentiment in the Technology sector, which rose +3.6%, while Plantation stocks traded flat.
Top 3 Active stocks:
MYEG (0138): RM0.890 (unch)
RTECH (0342): RM0.270 (+8.5 sen)
PERTAMA (8532): RM0.135 (+1.0 sen)
Volume: 2.99 bn (100-bar avg vol: 3.01 bn)
Value: RM2.08 bn (100-bar avg val: RM2.59 bn)
Market Breadth: ⬆️716⬇️264
Crude palm oil: RM4,035 (+RM69)
Dow Futures: 40,036 pts (+679 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,501.19 pts (+14.94pts, +1.01%)
With progress towards de-escalation of the trade war, the potential impact of President Trump’s protectionist trade policies faded and global markets cheered positively, lifting the local bourse by nearly 1%, led by gains in Industrial Products & Services and Banking heavyweights. Market breadth was positive with gainers outpacing losers by 3-to-1 ratio. Inari and Frontken buoyed sentiment in the Technology sector, which rose +3.6%, while Plantation stocks traded flat.
Top 3 Active stocks:
MYEG (0138): RM0.890 (unch)
RTECH (0342): RM0.270 (+8.5 sen)
PERTAMA (8532): RM0.135 (+1.0 sen)
Volume: 2.99 bn (100-bar avg vol: 3.01 bn)
Value: RM2.08 bn (100-bar avg val: RM2.59 bn)
Market Breadth: ⬆️716⬇️264
Crude palm oil: RM4,035 (+RM69)
Dow Futures: 40,036 pts (+679 pts)
**Source: Bloomberg, M+**
👍2👏2😁1
Good Evening All,
We issued a technical buy call on Brinker International Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Promotions and campaigns drive stronger traffic
(ii) Soaring performance
(iii) Upgrade in FY25 guidance
Research Team, M+
23 Apr 2025
We issued a technical buy call on Brinker International Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Promotions and campaigns drive stronger traffic
(ii) Soaring performance
(iii) Upgrade in FY25 guidance
Research Team, M+
23 Apr 2025