M+ Market Wrap - 9May25
FBM KLCI: 1,546.50 pts (+3.76pts, +0.24%)
Despite regional markets ended on a mixed tone, the FBMKLCI (+0.24%) closed the Friday session on a positive note, buoyed by gains in PMETAL (+14.0 sen) and PETDAG (+56.0 sen). This came after BNM lowered the statutory reserve requirement, which is expected to boost the economy and lift sentiment on the local front. Market breadth was rather mixed, with 459 losers against 454 winners. In the broader market, Energy (+1.02%) outperformed following the rebound in crude oil prices, while Telecommunications & Media (-0.29%) declined the most.
Top 3 Active stocks:
SAPNRG (5218): RM0.045 (unch)
CBHB (0339): RM0.240 (-6.5 sen)
MYEG (0138): RM0.905 (+0.5 sen)
Volume: 2.94 bn (100-bar avg vol: 2.99 bn)
Value: RM1.90 bn (100-bar avg val: RM2.49 bn)
Market Breadth: ⬆️454⬇️459
Crude palm oil: RM3,789 (-RM12)
Dow Futures: 41,431 pts (-37 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,546.50 pts (+3.76pts, +0.24%)
Despite regional markets ended on a mixed tone, the FBMKLCI (+0.24%) closed the Friday session on a positive note, buoyed by gains in PMETAL (+14.0 sen) and PETDAG (+56.0 sen). This came after BNM lowered the statutory reserve requirement, which is expected to boost the economy and lift sentiment on the local front. Market breadth was rather mixed, with 459 losers against 454 winners. In the broader market, Energy (+1.02%) outperformed following the rebound in crude oil prices, while Telecommunications & Media (-0.29%) declined the most.
Top 3 Active stocks:
SAPNRG (5218): RM0.045 (unch)
CBHB (0339): RM0.240 (-6.5 sen)
MYEG (0138): RM0.905 (+0.5 sen)
Volume: 2.94 bn (100-bar avg vol: 2.99 bn)
Value: RM1.90 bn (100-bar avg val: RM2.49 bn)
Market Breadth: ⬆️454⬇️459
Crude palm oil: RM3,789 (-RM12)
Dow Futures: 41,431 pts (-37 pts)
**Source: Bloomberg, M+**
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M+ Morning Market Buzz - 13May25
Dow Jones: 42,410.10 pts (+1160.72pts, +2.81%)
⬆️ Resistance: 43300
⬇️ Support: 40000
FBM KLCI: 1,546.50 pts (+3.76pts, +0.24%)
⬆️ Resistance: 1590
⬇️ Support: 1510
HSI Index: 23,549.46 pts (+681.72pts, +2.98%)
⬆️ Resistance: 24200
⬇️ Support: 22100
Crude Palm Oil: RM3,814 (+RM13, +0.34%)
⬆️ Resistance: 3940
⬇️ Support: 3630
Brent Oil: $64.96 (+$1.05, +1.64%)
⬆️ Resistance: 67.80
⬇️ Support: 59.00
Gold: $3,236.39 (+$0.22, +0.01%)
⬆️ Resistance: 3510
⬇️ Support: 3150
Source: Bloomberg, M+
Dow Jones: 42,410.10 pts (+1160.72pts, +2.81%)
⬆️ Resistance: 43300
⬇️ Support: 40000
FBM KLCI: 1,546.50 pts (+3.76pts, +0.24%)
⬆️ Resistance: 1590
⬇️ Support: 1510
HSI Index: 23,549.46 pts (+681.72pts, +2.98%)
⬆️ Resistance: 24200
⬇️ Support: 22100
Crude Palm Oil: RM3,814 (+RM13, +0.34%)
⬆️ Resistance: 3940
⬇️ Support: 3630
Brent Oil: $64.96 (+$1.05, +1.64%)
⬆️ Resistance: 67.80
⬇️ Support: 59.00
Gold: $3,236.39 (+$0.22, +0.01%)
⬆️ Resistance: 3510
⬇️ Support: 3150
Source: Bloomberg, M+
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M+ Market Update – 13May25
Lifted By US-China 90-Day Truce
US: Wall Street advanced following a breakthrough in the US-China trade relations, with both nations agreed to a 90-day pause on reciprocal tariffs. US will reduce tariffs on Chinese imports to 30%, while China will cut duties on American goods to 10% and we expect market to trend higher in the near to mid-term. Meanwhile, Apple gained support from reports suggesting that it may raise iPhone prices independently of tariffs, reinforcing investor confidence in the tech sector resilience. In commodities, Brent crude oil is trading close to USD65/bbl, while gold traded flat around USD3,236 level. Lastly, CPO prices rebounded above RM3,800/MT.
MY: Following the 90-day rollback in US-China tariffs, positive sentiment is expected to spill over into the local and regional markets, especially the tech sector. Meanwhile, as TENAGA doubles its budgeted capex to RM42.9bn to support renewable energy and NETR infrastructure development, we maintain our positive stance on renewable energy, data centres, and construction players. Lastly, we believe trading opportunities will persist in counters like LCTITAN, SAMCHEM, and SCGM following Malaysia’s 5-year imposition of anti-dumping duties on synthetic polymer (PET) from Indonesia and China, starting May 7. PET is a key material in the textile, packaging, and manufacturing industries.
Stocks to watch:
Construction: *GAMUDA*, *INTA*, SUNCON
O&G: *HAWK*, *PGLOBAL*
Technology: *ITMAX*
Consumer: HUPSENG
Property: CRESNDO
REIT: SUNREIT
Source: M+
Lifted By US-China 90-Day Truce
US: Wall Street advanced following a breakthrough in the US-China trade relations, with both nations agreed to a 90-day pause on reciprocal tariffs. US will reduce tariffs on Chinese imports to 30%, while China will cut duties on American goods to 10% and we expect market to trend higher in the near to mid-term. Meanwhile, Apple gained support from reports suggesting that it may raise iPhone prices independently of tariffs, reinforcing investor confidence in the tech sector resilience. In commodities, Brent crude oil is trading close to USD65/bbl, while gold traded flat around USD3,236 level. Lastly, CPO prices rebounded above RM3,800/MT.
MY: Following the 90-day rollback in US-China tariffs, positive sentiment is expected to spill over into the local and regional markets, especially the tech sector. Meanwhile, as TENAGA doubles its budgeted capex to RM42.9bn to support renewable energy and NETR infrastructure development, we maintain our positive stance on renewable energy, data centres, and construction players. Lastly, we believe trading opportunities will persist in counters like LCTITAN, SAMCHEM, and SCGM following Malaysia’s 5-year imposition of anti-dumping duties on synthetic polymer (PET) from Indonesia and China, starting May 7. PET is a key material in the textile, packaging, and manufacturing industries.
Stocks to watch:
Construction: *GAMUDA*, *INTA*, SUNCON
O&G: *HAWK*, *PGLOBAL*
Technology: *ITMAX*
Consumer: HUPSENG
Property: CRESNDO
REIT: SUNREIT
Source: M+
👍5🥰1👏1
FBM KLCI: 1,582.39 pts (+35.89pts, +2.32%)
With the recent progress toward the de-escalation of the trade war and the temporary trade deal between the US and China to slash tariffs, the impact of President Trump’s protectionist trade policies faded, providing a feel good factor for the global markets and lifted the local bourse by +2.32% led by gains in Banking heavyweights. Market breadth tilted positive, with gainers outpacing losers by 874-to-323 stocks. Inari (+27.0 sen) and Vitrox (+23.0 sen) buoyed sentiment in Technology stocks, which rose by +6.01%, while Health Care -0.17% stocks declined the most.
Top 3 Active stocks:
MYEG (0138): RM0.925 (+2.0 sen)
INARI (0166): RM2.210 (+27.0 sen)
CIMB (1023): RM7.310 (+44.0 sen)
Volume: 4.16 bn (100-bar avg vol: 3.00 bn)
Value: RM4.49 bn (100-bar avg val: RM2.49 bn)
Market Breadth: ⬆️874⬇️323
Crude palm oil: RM3,886 (+RM72)
Dow Futures: 42,396 pts (-97 pts)
**Source: Bloomberg, M+**
With the recent progress toward the de-escalation of the trade war and the temporary trade deal between the US and China to slash tariffs, the impact of President Trump’s protectionist trade policies faded, providing a feel good factor for the global markets and lifted the local bourse by +2.32% led by gains in Banking heavyweights. Market breadth tilted positive, with gainers outpacing losers by 874-to-323 stocks. Inari (+27.0 sen) and Vitrox (+23.0 sen) buoyed sentiment in Technology stocks, which rose by +6.01%, while Health Care -0.17% stocks declined the most.
Top 3 Active stocks:
MYEG (0138): RM0.925 (+2.0 sen)
INARI (0166): RM2.210 (+27.0 sen)
CIMB (1023): RM7.310 (+44.0 sen)
Volume: 4.16 bn (100-bar avg vol: 3.00 bn)
Value: RM4.49 bn (100-bar avg val: RM2.49 bn)
Market Breadth: ⬆️874⬇️323
Crude palm oil: RM3,886 (+RM72)
Dow Futures: 42,396 pts (-97 pts)
**Source: Bloomberg, M+**
👍3
M+ Morning Market Buzz - 14May25
Dow Jones: 42,140.43 pts (-269.67pts, -0.64%)
⬆️ Resistance: 43400
⬇️ Support: 40100
FBM KLCI: 1,582.39 pts (+35.89pts, +2.32%)
⬆️ Resistance: 1620
⬇️ Support: 1510
HSI Index: 23,108.27 pts (-441.19pts, -1.87%)
⬆️ Resistance: 24200
⬇️ Support: 22200
Crude Palm Oil: RM3,893 (+RM36, +0.92%)
⬆️ Resistance: 4020
⬇️ Support: 3630
Brent Oil: $66.63 (+$1.67, +2.57%)
⬆️ Resistance: 68.20
⬇️ Support: 59.70
Gold: $3,250.31 (+$5.46, +0.17%)
⬆️ Resistance: 3510
⬇️ Support: 3150
Source: Bloomberg, M+
Dow Jones: 42,140.43 pts (-269.67pts, -0.64%)
⬆️ Resistance: 43400
⬇️ Support: 40100
FBM KLCI: 1,582.39 pts (+35.89pts, +2.32%)
⬆️ Resistance: 1620
⬇️ Support: 1510
HSI Index: 23,108.27 pts (-441.19pts, -1.87%)
⬆️ Resistance: 24200
⬇️ Support: 22200
Crude Palm Oil: RM3,893 (+RM36, +0.92%)
⬆️ Resistance: 4020
⬇️ Support: 3630
Brent Oil: $66.63 (+$1.67, +2.57%)
⬆️ Resistance: 68.20
⬇️ Support: 59.70
Gold: $3,250.31 (+$5.46, +0.17%)
⬆️ Resistance: 3510
⬇️ Support: 3150
Source: Bloomberg, M+
M+ Market Update – 14May25
The Feel-Good Tariff Truce Could Last
US: Wall Street traded higher as US inflation came in softer-than-expected in April, with headline CPI rising 2.3% YoY, the lowest since February 2021, while core inflation also moderated, easing market concerns. We believe the overall sentiment will stay positive on Wall Street and investors will continue to monitor Fed Chair Powell’s speech, anticipating a more dovish Fed stance, while keeping an eye on key economic data like PPI, retail sales and crude oil inventories throughout the week. In commodities, Brent oil edged higher toward USD66/bbl, while gold hovered around USD3,250. CPO prices are approaching toward RM3,900/MT.
MY: Following the rally on Wall Street, we expect further upside in Malaysia’s Technology sector after the US-China tariff truce, coupled with news that the Trump administration formally rescinded the Biden-era AI Diffusion Rule, boosting to optimism in local tech counters. On the flip side, the US-China trade deal is seen as negative for Malaysian glove players, as it makes Chinese gloves more competitively priced and may hurt demand for Malaysian gloves. Besides, we believe trading opportunities will extend within the Steel sector like HIAPTEK, MELEWAR and MASTEEL, as Malaysia is set to impose anti-dumping duties on steel and tinplate from China and other Asian nations.
Stocks to watch:
O&G: DAYANG, *HAWK*
Financial: *KENANGA*, RHBBANK
Utility: MALAKOF, *PEKAT*
Technology: *ITMAX*
Property: *CRESNDO*
Construction: SUNCON
Healthcare: KPJ
Source: M+
The Feel-Good Tariff Truce Could Last
US: Wall Street traded higher as US inflation came in softer-than-expected in April, with headline CPI rising 2.3% YoY, the lowest since February 2021, while core inflation also moderated, easing market concerns. We believe the overall sentiment will stay positive on Wall Street and investors will continue to monitor Fed Chair Powell’s speech, anticipating a more dovish Fed stance, while keeping an eye on key economic data like PPI, retail sales and crude oil inventories throughout the week. In commodities, Brent oil edged higher toward USD66/bbl, while gold hovered around USD3,250. CPO prices are approaching toward RM3,900/MT.
MY: Following the rally on Wall Street, we expect further upside in Malaysia’s Technology sector after the US-China tariff truce, coupled with news that the Trump administration formally rescinded the Biden-era AI Diffusion Rule, boosting to optimism in local tech counters. On the flip side, the US-China trade deal is seen as negative for Malaysian glove players, as it makes Chinese gloves more competitively priced and may hurt demand for Malaysian gloves. Besides, we believe trading opportunities will extend within the Steel sector like HIAPTEK, MELEWAR and MASTEEL, as Malaysia is set to impose anti-dumping duties on steel and tinplate from China and other Asian nations.
Stocks to watch:
O&G: DAYANG, *HAWK*
Financial: *KENANGA*, RHBBANK
Utility: MALAKOF, *PEKAT*
Technology: *ITMAX*
Property: *CRESNDO*
Construction: SUNCON
Healthcare: KPJ
Source: M+
👍9
M+ Market Wrap - 14May25
FBM KLCI: 1,583.51 pts (+1.12pts, +0.07%)
Following the US-China tariff truce and continuous inflow of foreign funds, the feel-good factor for FBMKLCI (+0.07%) continued, closing higher for the third consecutive day at 1,583.51 pts, with gains in CDB (+10.0 sen) and PCHEM (+10.0 sen) lifting the key index. Regional markets also ended broadly positive. Market breadth remained bullish, with 762 winners against 360 losers. In the broader environment, the Energy (+3.08%) sector emerged as the best-performing sector, while the Healthcare (-0.09%) sector continued to record as the worst performer for the session.
Top 3 Active stocks:
OCR (7071): RM0.035 (unch)
SFPTECH (0251): RM0.235 (+1.5 sen)
NOTION (0083): RM0.755 (+6.0 sen)
Volume: 4.20 bn (100-bar avg vol: 3.02 bn)
Value: RM3.29 bn (100-bar avg val: RM2.50 bn)
Market Breadth: ⬆️762⬇️360
Crude palm oil: RM3,951 (+RM58)
Dow Futures: 42,211 pts (-17 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,583.51 pts (+1.12pts, +0.07%)
Following the US-China tariff truce and continuous inflow of foreign funds, the feel-good factor for FBMKLCI (+0.07%) continued, closing higher for the third consecutive day at 1,583.51 pts, with gains in CDB (+10.0 sen) and PCHEM (+10.0 sen) lifting the key index. Regional markets also ended broadly positive. Market breadth remained bullish, with 762 winners against 360 losers. In the broader environment, the Energy (+3.08%) sector emerged as the best-performing sector, while the Healthcare (-0.09%) sector continued to record as the worst performer for the session.
Top 3 Active stocks:
OCR (7071): RM0.035 (unch)
SFPTECH (0251): RM0.235 (+1.5 sen)
NOTION (0083): RM0.755 (+6.0 sen)
Volume: 4.20 bn (100-bar avg vol: 3.02 bn)
Value: RM3.29 bn (100-bar avg val: RM2.50 bn)
Market Breadth: ⬆️762⬇️360
Crude palm oil: RM3,951 (+RM58)
Dow Futures: 42,211 pts (-17 pts)
**Source: Bloomberg, M+**
👍2
M+ Morning Market Buzz - 15May25
Dow Jones: 42,051.06 pts (-89.37pts, -0.21%)
⬆️ Resistance: 43400
⬇️ Support: 40400
FBM KLCI: 1,583.51 pts (+1.12pts, +0.07%)
⬆️ Resistance: 1620
⬇️ Support: 1520
HSI Index: 23,640.65 pts (+532.38pts, +2.30%)
⬆️ Resistance: 24200
⬇️ Support: 22200
Crude Palm Oil: RM3,923 (+RM34, +0.87%)
⬆️ Resistance: 4080
⬇️ Support: 3630
Brent Oil: $66.63 (-$0.78, -1.17%)
⬆️ Resistance: 68.20
⬇️ Support: 59.80
Gold: $3,177.25 (-$74.13, -2.28%)
⬆️ Resistance: 3490
⬇️ Support: 3110
Source: Bloomberg, M+
Dow Jones: 42,051.06 pts (-89.37pts, -0.21%)
⬆️ Resistance: 43400
⬇️ Support: 40400
FBM KLCI: 1,583.51 pts (+1.12pts, +0.07%)
⬆️ Resistance: 1620
⬇️ Support: 1520
HSI Index: 23,640.65 pts (+532.38pts, +2.30%)
⬆️ Resistance: 24200
⬇️ Support: 22200
Crude Palm Oil: RM3,923 (+RM34, +0.87%)
⬆️ Resistance: 4080
⬇️ Support: 3630
Brent Oil: $66.63 (-$0.78, -1.17%)
⬆️ Resistance: 68.20
⬇️ Support: 59.80
Gold: $3,177.25 (-$74.13, -2.28%)
⬆️ Resistance: 3490
⬇️ Support: 3110
Source: Bloomberg, M+
👍2👏1
M+ Market Update – 15May25
Market Cheered On Saudi’s $600bn Pledge
US: Wall Street traded higher, supported by optimism over US-China trade progress as a 90-day tariff truce was announced, along with a USD600bn Saudi investment pledge. Tech stocks, particularly NVIDIA, AMD, and Alphabet, rallied on expectation of strong chip demand and Middle East partnerships. Most tech stocks likely to benefit from Saudi’s Humain AI project, reinforcing investor confidence in the sector’s resilience; thus providing upside on Wall Street. Meanwhile, Jerome Powell’s speech will be key focus later today. In the commodities market, Brent oil held above USD66/bbl. Bitcoin is trading around the USD103k range, while gold declined toward USD3,177/oz and CPO prices breached above the RM3,900 mark.
MY: With foreign funds flowing back into the Malaysian market, we remain optimistic about blue-chip stocks, supported by strong fundamentals and stable dividends. Despite global headwinds from US tariffs and geopolitical tensions, BNM’s decision to lower the SRR from 2% to a 14-year low of 1% could encourage more businesses to take up loans, stimulating economic growth. We maintain a positive outlook on the Construction sector, driven by ongoing data centre investments and major developments across the country, such as JSSEZ. The Construction Index has also broken above its MA200 resistance.
Stocks to watch:
Technology: GENETEC, NOTION, *OPPSTAR*, *TTVHB*
Construction: KERJAYA, *SUNCON*
Utility: *KJTS*, PWRWELL
Property: *LBS*
REIT: SUNREIT
Source: M+
Market Cheered On Saudi’s $600bn Pledge
US: Wall Street traded higher, supported by optimism over US-China trade progress as a 90-day tariff truce was announced, along with a USD600bn Saudi investment pledge. Tech stocks, particularly NVIDIA, AMD, and Alphabet, rallied on expectation of strong chip demand and Middle East partnerships. Most tech stocks likely to benefit from Saudi’s Humain AI project, reinforcing investor confidence in the sector’s resilience; thus providing upside on Wall Street. Meanwhile, Jerome Powell’s speech will be key focus later today. In the commodities market, Brent oil held above USD66/bbl. Bitcoin is trading around the USD103k range, while gold declined toward USD3,177/oz and CPO prices breached above the RM3,900 mark.
MY: With foreign funds flowing back into the Malaysian market, we remain optimistic about blue-chip stocks, supported by strong fundamentals and stable dividends. Despite global headwinds from US tariffs and geopolitical tensions, BNM’s decision to lower the SRR from 2% to a 14-year low of 1% could encourage more businesses to take up loans, stimulating economic growth. We maintain a positive outlook on the Construction sector, driven by ongoing data centre investments and major developments across the country, such as JSSEZ. The Construction Index has also broken above its MA200 resistance.
Stocks to watch:
Technology: GENETEC, NOTION, *OPPSTAR*, *TTVHB*
Construction: KERJAYA, *SUNCON*
Utility: *KJTS*, PWRWELL
Property: *LBS*
REIT: SUNREIT
Source: M+
👍3
M+ Market Wrap - 15May25
FBM KLCI: 1,573.02 pts (-10.49pts, -0.66%)
The FBMKLCI (-0.66%) experienced profit-taking activities snapping its 3-day winning streak, closing lower at 1573.02 pts, with losses observed in MAYBANK (-10.0 sen) and PMETAL (-13.0 sen), which have dragged the key index lower. Similarly, the market breadth turned negative, with 626 losers against 459 winners. In the broader environment, the Plantation (+0.42%) sector outperformed following Indonesia’s decision to raise its palm oil export levy, while the Technology (-0.89%) sector experienced the largest decline.
Top 3 Active stocks:
SFPTECH (0251): RM0.265 (+3.0 sen)
SAPNRG (5218): RM0.045 (unch)
EKOVEST (8877): RM0.390 (+4.0 sen)
Volume: 3.71 bn (100-bar avg vol: 3.02 bn)
Value: RM2.74 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️459⬇️626
Crude palm oil: RM3,868 (-RM55)
Dow Futures: 41,945 pts (-172 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,573.02 pts (-10.49pts, -0.66%)
The FBMKLCI (-0.66%) experienced profit-taking activities snapping its 3-day winning streak, closing lower at 1573.02 pts, with losses observed in MAYBANK (-10.0 sen) and PMETAL (-13.0 sen), which have dragged the key index lower. Similarly, the market breadth turned negative, with 626 losers against 459 winners. In the broader environment, the Plantation (+0.42%) sector outperformed following Indonesia’s decision to raise its palm oil export levy, while the Technology (-0.89%) sector experienced the largest decline.
Top 3 Active stocks:
SFPTECH (0251): RM0.265 (+3.0 sen)
SAPNRG (5218): RM0.045 (unch)
EKOVEST (8877): RM0.390 (+4.0 sen)
Volume: 3.71 bn (100-bar avg vol: 3.02 bn)
Value: RM2.74 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️459⬇️626
Crude palm oil: RM3,868 (-RM55)
Dow Futures: 41,945 pts (-172 pts)
**Source: Bloomberg, M+**
👏1
Good Evening All,
We issued a technical buy call on Palantir Technologies Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Strong Q1 performance
(ii) AI Platform (AIP) scaling rapidly
(iii) Raised FY25 revenue guidance
Research Team, M+
15 May 2025
We issued a technical buy call on Palantir Technologies Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Strong Q1 performance
(ii) AI Platform (AIP) scaling rapidly
(iii) Raised FY25 revenue guidance
Research Team, M+
15 May 2025
👍4
M+ Morning Market Buzz - 16May25
Dow Jones: 42,322.75 pts (+271.69pts, +0.65%)
⬆️ Resistance: 43400
⬇️ Support: 40400
FBM KLCI: 1,573.02 pts (-10.49pts, -0.66%)
⬆️ Resistance: 1620
⬇️ Support: 1520
HSI Index: 23,453.16 pts (-187.49pts, -0.79%)
⬆️ Resistance: 24200
⬇️ Support: 22300
Crude Palm Oil: RM3,856 (-RM21, -0.54%)
⬆️ Resistance: 4080
⬇️ Support: 3680
Brent Oil: $64.53 (-$1.56, -2.36%)
⬆️ Resistance: 68.20
⬇️ Support: 61.60
Gold: $3,240.10 (+$9.81, +0.30%)
⬆️ Resistance: 3420
⬇️ Support: 3060
Source: Bloomberg, M+
Dow Jones: 42,322.75 pts (+271.69pts, +0.65%)
⬆️ Resistance: 43400
⬇️ Support: 40400
FBM KLCI: 1,573.02 pts (-10.49pts, -0.66%)
⬆️ Resistance: 1620
⬇️ Support: 1520
HSI Index: 23,453.16 pts (-187.49pts, -0.79%)
⬆️ Resistance: 24200
⬇️ Support: 22300
Crude Palm Oil: RM3,856 (-RM21, -0.54%)
⬆️ Resistance: 4080
⬇️ Support: 3680
Brent Oil: $64.53 (-$1.56, -2.36%)
⬆️ Resistance: 68.20
⬇️ Support: 61.60
Gold: $3,240.10 (+$9.81, +0.30%)
⬆️ Resistance: 3420
⬇️ Support: 3060
Source: Bloomberg, M+
👍3👏1
M+ Market Update – 16May25
Cooling Inflation Fuels Hopes For Fed Rate Cuts
US: Wall Street climbed as softer inflation data and weaker retail sales which fuelled hopes for Fed rate cuts. April’s PPI fell by 0.5%, marking the first decline since 2023, while core PPI slipped 0.4%. Retail sales in March also grew less than expected, signalling weaker consumer demand. These data pushed Treasury yields lower, reinforcing investor expectations on monetary easing. Meanwhile, Japan is set to announce its Q1 GDP today. In the commodities market, Brent oil retreated below USD65/bbl. Bitcoin continued to hover around the USD103k range, while gold extended above USD3,200/oz and CPO dropped below the RM3,900 mark.
MY: Despite Wall Street’s mostly positive performance, we expect profit taking activities to persist in the local front. Indonesia’s plan to raise its crude palm oil export levy from 7.5% to 10% (effective 17 May), should benefit Malaysian plantation players, extending gains in the sector. Meanwhile, breakouts were observed in selected poultry counters, namely Teo Seng and Leong Hup as the market repositioned into domestic-driven stocks. On the defensive front, REITs could gain attention amid global tariff uncertainty, with SUNREIT and PAVREIT reporting YoY net property income growth of 20% and 5%, respectively.
Stocks to watch:
Consumer: *FPHB*, HUPSENG, *LHI*, *TEOSENG*
Utility: GASMSIA, *KJTS*
Construction: *INTA*, SUNCON
Technology: *WENTEL*
Financial: KENANGA
Source: M+
Cooling Inflation Fuels Hopes For Fed Rate Cuts
US: Wall Street climbed as softer inflation data and weaker retail sales which fuelled hopes for Fed rate cuts. April’s PPI fell by 0.5%, marking the first decline since 2023, while core PPI slipped 0.4%. Retail sales in March also grew less than expected, signalling weaker consumer demand. These data pushed Treasury yields lower, reinforcing investor expectations on monetary easing. Meanwhile, Japan is set to announce its Q1 GDP today. In the commodities market, Brent oil retreated below USD65/bbl. Bitcoin continued to hover around the USD103k range, while gold extended above USD3,200/oz and CPO dropped below the RM3,900 mark.
MY: Despite Wall Street’s mostly positive performance, we expect profit taking activities to persist in the local front. Indonesia’s plan to raise its crude palm oil export levy from 7.5% to 10% (effective 17 May), should benefit Malaysian plantation players, extending gains in the sector. Meanwhile, breakouts were observed in selected poultry counters, namely Teo Seng and Leong Hup as the market repositioned into domestic-driven stocks. On the defensive front, REITs could gain attention amid global tariff uncertainty, with SUNREIT and PAVREIT reporting YoY net property income growth of 20% and 5%, respectively.
Stocks to watch:
Consumer: *FPHB*, HUPSENG, *LHI*, *TEOSENG*
Utility: GASMSIA, *KJTS*
Construction: *INTA*, SUNCON
Technology: *WENTEL*
Financial: KENANGA
Source: M+
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Good Morning All,
We issued a technical buy call on Deleum Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Power and Machinery segment continue to grow,
(ii) As well as its Oilfield Integrated Services
(iii) Net cash position with a healthy dividend payout ratio
Research Team, M+
16 May 2025
We issued a technical buy call on Deleum Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Power and Machinery segment continue to grow,
(ii) As well as its Oilfield Integrated Services
(iii) Net cash position with a healthy dividend payout ratio
Research Team, M+
16 May 2025
Good Morning All,
Here’s our IPO note on Hartanah Kenyalang Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.22 per share for HKB, representing a 37.5% upside from its IPO price of RM0.16. This valuation is based on a P/E ratio of 11.5x, pegged to the mid-FY26F EPS of 1.91 sen. We believe the ascribed P/E is justified, given the average P/E and forward P/E among its peers range between 11.5x and 12.7x. Despite its stronger ROE of 40.0% compared to its peers’ average of 7.9%, the P/E ratio is tilted to the lower-end due to its relatively smaller market cap and lower net profit margin.
Investment highlights include:
(i) Ongoing expansion in Sarawak with certifications advantage.
(ii) Expanding design-and-build services
(iii) Multi-Billion Dollar’ infrastructure budget by Sarawak state government
(iv) Well-positioned for schools infrastructure push
(v) Opportunity for market share expansion
Research Team, M+
16 May 2025
Here’s our IPO note on Hartanah Kenyalang Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.22 per share for HKB, representing a 37.5% upside from its IPO price of RM0.16. This valuation is based on a P/E ratio of 11.5x, pegged to the mid-FY26F EPS of 1.91 sen. We believe the ascribed P/E is justified, given the average P/E and forward P/E among its peers range between 11.5x and 12.7x. Despite its stronger ROE of 40.0% compared to its peers’ average of 7.9%, the P/E ratio is tilted to the lower-end due to its relatively smaller market cap and lower net profit margin.
Investment highlights include:
(i) Ongoing expansion in Sarawak with certifications advantage.
(ii) Expanding design-and-build services
(iii) Multi-Billion Dollar’ infrastructure budget by Sarawak state government
(iv) Well-positioned for schools infrastructure push
(v) Opportunity for market share expansion
Research Team, M+
16 May 2025
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M+ Market Wrap - 16May25
FBM KLCI: 1,571.75 pts (-1.27pts, -0.08%)
Friday’s session saw the local bourse continue to trade negatively, weighed down by Consumer Products & Services heavyweights—despite the upbeat in MRDIY’s earnings and improved input costs. Market breadth tilted negative, with losers outpacing gainers at 613 to 380 stocks. On the broader market, Financials (+0.09%) outperformed, with MAYBANK (+4.0 sen) and CIMB (+2.0 sen) leading the pack, while all other sectors closed underwater.
Top 3 Active stocks:
NEXG (5216): RM0.375 (+1.5 sen)
EKOVEST (8877): RM0.390 (unch)
WESTRVR (0353): RM0.360 (+0.5 sen)
Volume: 2.91 bn (100-bar avg vol: 3.02 bn)
Value: RM2.16 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️380⬇️613
Crude palm oil: RM3,806 (-RM50)
Dow Futures: 42,534 pts (+149 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,571.75 pts (-1.27pts, -0.08%)
Friday’s session saw the local bourse continue to trade negatively, weighed down by Consumer Products & Services heavyweights—despite the upbeat in MRDIY’s earnings and improved input costs. Market breadth tilted negative, with losers outpacing gainers at 613 to 380 stocks. On the broader market, Financials (+0.09%) outperformed, with MAYBANK (+4.0 sen) and CIMB (+2.0 sen) leading the pack, while all other sectors closed underwater.
Top 3 Active stocks:
NEXG (5216): RM0.375 (+1.5 sen)
EKOVEST (8877): RM0.390 (unch)
WESTRVR (0353): RM0.360 (+0.5 sen)
Volume: 2.91 bn (100-bar avg vol: 3.02 bn)
Value: RM2.16 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️380⬇️613
Crude palm oil: RM3,806 (-RM50)
Dow Futures: 42,534 pts (+149 pts)
**Source: Bloomberg, M+**
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M+ Market Update – 19May25
Sentiment Turns Shaky After US Credit Rating Cut
US: Despite the positive US performance, we believe profit taking activities may emerge as Moody’s downgraded US credit rating from AAA to AA1, due to concern about the nation’s growing $36 trillion debt. Wall Street futures are negative at the time of writing, with the S&P 500’s P/E valuation standing above the 90th percentile. Nevertheless, we believe any progress toward de-escalating the trade war could serve as a key catalyst for further upside on Wall Street. This week, traders will monitor earnings results from Home Depot to gauge insights on the tariffs impact. In the commodities market, both Brent Crude and Gold rebounded above USD65/bbl and USD3,200/oz respectively. CPO prices retreated towards RM3,815/MT.
MY: In view of softer market conditions in the US, we expect a further pullback on the local front. However, Gamuda’s acquisition of three land parcels (totalling 336 acres for RM248.7m) near its Gamuda Cove project could generate a spillover effect on its long-term construction partner like INTA. On the renewable energy front, we are positive on PEKAT, as it should benefit from TNB’s 14% electricity tariff hike starting July-2025, along with its healthy exposure to NETR. Also, the ringgit’s strengthening since April 9th may lower input costs, benefiting domestic companies like Leong Hup and Teoseng with the anticipation of floating eggs price.
Stocks to watch:
Utility: *GASMSIA*, PEKAT
Technology: *CLOUDPT*, *EG*
Construction: *SUNCON*
Consumer: *LHI*
Other: *HAPSENG*
Plantation: HSPLANT
Financial: KENANGA
Source: M+
Sentiment Turns Shaky After US Credit Rating Cut
US: Despite the positive US performance, we believe profit taking activities may emerge as Moody’s downgraded US credit rating from AAA to AA1, due to concern about the nation’s growing $36 trillion debt. Wall Street futures are negative at the time of writing, with the S&P 500’s P/E valuation standing above the 90th percentile. Nevertheless, we believe any progress toward de-escalating the trade war could serve as a key catalyst for further upside on Wall Street. This week, traders will monitor earnings results from Home Depot to gauge insights on the tariffs impact. In the commodities market, both Brent Crude and Gold rebounded above USD65/bbl and USD3,200/oz respectively. CPO prices retreated towards RM3,815/MT.
MY: In view of softer market conditions in the US, we expect a further pullback on the local front. However, Gamuda’s acquisition of three land parcels (totalling 336 acres for RM248.7m) near its Gamuda Cove project could generate a spillover effect on its long-term construction partner like INTA. On the renewable energy front, we are positive on PEKAT, as it should benefit from TNB’s 14% electricity tariff hike starting July-2025, along with its healthy exposure to NETR. Also, the ringgit’s strengthening since April 9th may lower input costs, benefiting domestic companies like Leong Hup and Teoseng with the anticipation of floating eggs price.
Stocks to watch:
Utility: *GASMSIA*, PEKAT
Technology: *CLOUDPT*, *EG*
Construction: *SUNCON*
Consumer: *LHI*
Other: *HAPSENG*
Plantation: HSPLANT
Financial: KENANGA
Source: M+
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M+ Morning Market Buzz - 19May25
Dow Jones: 42,654.74 pts (+331.99pts, +0.78%)
⬆️ Resistance: 43600
⬇️ Support: 41000
FBM KLCI: 1,571.75 pts (-1.27pts, -0.08%)
⬆️ Resistance: 1620
⬇️ Support: 1540
HSI Index: 23,345.05 pts (-108.11pts, -0.46%)
⬆️ Resistance: 24200
⬇️ Support: 22600
Crude Palm Oil: RM3,815 (-RM41, -1.06%)
⬆️ Resistance: 4080
⬇️ Support: 3720
Brent Oil: $65.41 (+$0.11, +0.17%)
⬆️ Resistance: 68.20
⬇️ Support: 62.20
Gold: $3,203.65 (+$31.15, +0.97%)
⬆️ Resistance: 3370
⬇️ Support: 3060
Source: Bloomberg, M+
Dow Jones: 42,654.74 pts (+331.99pts, +0.78%)
⬆️ Resistance: 43600
⬇️ Support: 41000
FBM KLCI: 1,571.75 pts (-1.27pts, -0.08%)
⬆️ Resistance: 1620
⬇️ Support: 1540
HSI Index: 23,345.05 pts (-108.11pts, -0.46%)
⬆️ Resistance: 24200
⬇️ Support: 22600
Crude Palm Oil: RM3,815 (-RM41, -1.06%)
⬆️ Resistance: 4080
⬇️ Support: 3720
Brent Oil: $65.41 (+$0.11, +0.17%)
⬆️ Resistance: 68.20
⬇️ Support: 62.20
Gold: $3,203.65 (+$31.15, +0.97%)
⬆️ Resistance: 3370
⬇️ Support: 3060
Source: Bloomberg, M+
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M+ Market Wrap - 19May25
FBM KLCI: 1,556.14 pts (-15.61pts, -0.99%)
The FBMKLCI (-0.99%) extended its decline for the third consecutive day, closing lower at 1,556.14 pts, as losses in AXIATA (-13.0 sen) and PCHEM (-13.0 sen) weighed down the key index. Asian markets also ended broadly lower after Moody’s downgraded the US sovereign credit rating by one notch from AAA to AA1 over the weekend, citing concerns over elevated government debt levels and the lack of a clear fiscal measure to address the issue. Market breadth ended negative, with 889 losers against 216 winners. In the broader environment, all sectors ended in the negative territory, with Technology (-4.23%) sector posting the steepest decline.
Top 3 Active stocks:
NEXG (5216): RM0.375 (unch)
SFPTECH (0251): RM0.230 (-2.5 sen)
HM (0060): RM0.180 (unch)
Volume: 3.71 bn (100-bar avg vol: 3.03 bn)
Value: RM2.27 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️216⬇️889
Crude palm oil: RM3,883 (+RM68)
Dow Futures: 42,364 pts (-372 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,556.14 pts (-15.61pts, -0.99%)
The FBMKLCI (-0.99%) extended its decline for the third consecutive day, closing lower at 1,556.14 pts, as losses in AXIATA (-13.0 sen) and PCHEM (-13.0 sen) weighed down the key index. Asian markets also ended broadly lower after Moody’s downgraded the US sovereign credit rating by one notch from AAA to AA1 over the weekend, citing concerns over elevated government debt levels and the lack of a clear fiscal measure to address the issue. Market breadth ended negative, with 889 losers against 216 winners. In the broader environment, all sectors ended in the negative territory, with Technology (-4.23%) sector posting the steepest decline.
Top 3 Active stocks:
NEXG (5216): RM0.375 (unch)
SFPTECH (0251): RM0.230 (-2.5 sen)
HM (0060): RM0.180 (unch)
Volume: 3.71 bn (100-bar avg vol: 3.03 bn)
Value: RM2.27 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️216⬇️889
Crude palm oil: RM3,883 (+RM68)
Dow Futures: 42,364 pts (-372 pts)
**Source: Bloomberg, M+**
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M+ Morning Market Buzz - 20May25
Dow Jones: 42,792.07 pts (+137.33pts, +0.32%)
⬆️ Resistance: 43700
⬇️ Support: 41000
FBM KLCI: 1,556.14 pts (-15.61pts, -0.99%)
⬆️ Resistance: 1620
⬇️ Support: 1520
HSI Index: 23,332.72 pts (-12.33pts, -0.05%)
⬆️ Resistance: 24200
⬇️ Support: 22600
Crude Palm Oil: RM3,882 (+RM33, +0.85%)
⬆️ Resistance: 4080
⬇️ Support: 3720
Brent Oil: $65.41 (+$0.07, +0.11%)
⬆️ Resistance: 68.20
⬇️ Support: 62.20
Gold: $3,229.56 (-$1.45, -0.04%)
⬆️ Resistance: 3340
⬇️ Support: 3060
Source: Bloomberg, M+
Dow Jones: 42,792.07 pts (+137.33pts, +0.32%)
⬆️ Resistance: 43700
⬇️ Support: 41000
FBM KLCI: 1,556.14 pts (-15.61pts, -0.99%)
⬆️ Resistance: 1620
⬇️ Support: 1520
HSI Index: 23,332.72 pts (-12.33pts, -0.05%)
⬆️ Resistance: 24200
⬇️ Support: 22600
Crude Palm Oil: RM3,882 (+RM33, +0.85%)
⬆️ Resistance: 4080
⬇️ Support: 3720
Brent Oil: $65.41 (+$0.07, +0.11%)
⬆️ Resistance: 68.20
⬇️ Support: 62.20
Gold: $3,229.56 (-$1.45, -0.04%)
⬆️ Resistance: 3340
⬇️ Support: 3060
Source: Bloomberg, M+
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