M+ Market Update – 20May25
Sentiment Turns Positive Despite Credit Cut
US: Wall Street began the week on a positive note despite Moody’s downgrade of the US credit rating from AAA to AA1, citing concerns over the nation’s $36 trillion debt and corporate tax cuts that may pose risks to the US economy. Wall Street futures were flat at the time of writing, with the S&P 500’s P/E hovering above the 90th percentile. Nevertheless, any further progress toward easing the trade war could provide upside potential for US equities. In the commodities market, both Brent Crude and Gold traded flat around USD65/bbl and USD3,220/oz respectively. CPO prices charged towards RM3,915/MT.
MY: With Wall Street trading flat, we believe the local sentiment may improve. We also expect Gamuda’s recent land acquisition (three land parcels totalling 336 acres for RM248.7m) to be a positive development for construction companies like INTA, potentially boosting their job replenishment. In the Plantation sector, we are positive on JPG, which stands to benefit from Indonesia’s increase in the palm oil export levy from 7.5% to 10%, coupled with its robust earnings and attractive valuations (JPG’s P/E: 10.4x, peer average P/E: 14.8x). Also, amid the uncertain tariff environment, we view ReachTen as a defensive play due to its aggressive network coverage expansion in Sarawak which, will should support stable recurring income.
Stocks to watch:
Construction: *INTA*, *KERJAYA*
Utility: *GASMSIA*
Telco: *REACHTEN*
Healthcare: *KPJ*
Transportation: WPRTS
Consumer: AEON
Source: M+
Sentiment Turns Positive Despite Credit Cut
US: Wall Street began the week on a positive note despite Moody’s downgrade of the US credit rating from AAA to AA1, citing concerns over the nation’s $36 trillion debt and corporate tax cuts that may pose risks to the US economy. Wall Street futures were flat at the time of writing, with the S&P 500’s P/E hovering above the 90th percentile. Nevertheless, any further progress toward easing the trade war could provide upside potential for US equities. In the commodities market, both Brent Crude and Gold traded flat around USD65/bbl and USD3,220/oz respectively. CPO prices charged towards RM3,915/MT.
MY: With Wall Street trading flat, we believe the local sentiment may improve. We also expect Gamuda’s recent land acquisition (three land parcels totalling 336 acres for RM248.7m) to be a positive development for construction companies like INTA, potentially boosting their job replenishment. In the Plantation sector, we are positive on JPG, which stands to benefit from Indonesia’s increase in the palm oil export levy from 7.5% to 10%, coupled with its robust earnings and attractive valuations (JPG’s P/E: 10.4x, peer average P/E: 14.8x). Also, amid the uncertain tariff environment, we view ReachTen as a defensive play due to its aggressive network coverage expansion in Sarawak which, will should support stable recurring income.
Stocks to watch:
Construction: *INTA*, *KERJAYA*
Utility: *GASMSIA*
Telco: *REACHTEN*
Healthcare: *KPJ*
Transportation: WPRTS
Consumer: AEON
Source: M+
👍5
Good Morning All,
Here’s our IPO note on Signature Alliance Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.88 per share for SAG, implying a 41.9% upside from its IPO price of RM0.62. This valuation is based on a P/E multiple of 18.0x, pegged to the midFY26F EPS of 4.88 sen. We believe the ascribed P/E is justified, as the average and forward P/E ratios within the Bloomberg GICS Construction & Engineering index range between 17.9x-23.1x.
Investment highlights include:
(i) Strong 3-year revenue CAGR of 73.9%, backed by sector tailwinds
(ii) 8.1% market share, with 75.2% of revenue from commercial fit-out projects
(iii) Strategic entry into Johor to capitalize on JSSEZ-led infrastructure boom
(iv) Active tender pipeline (~RM1.1bn) and average 9 tenders/week
(v) Margin uplift potential via steel and stone fabrication expansion
Research Team, M+
20 May 2025
Here’s our IPO note on Signature Alliance Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.88 per share for SAG, implying a 41.9% upside from its IPO price of RM0.62. This valuation is based on a P/E multiple of 18.0x, pegged to the midFY26F EPS of 4.88 sen. We believe the ascribed P/E is justified, as the average and forward P/E ratios within the Bloomberg GICS Construction & Engineering index range between 17.9x-23.1x.
Investment highlights include:
(i) Strong 3-year revenue CAGR of 73.9%, backed by sector tailwinds
(ii) 8.1% market share, with 75.2% of revenue from commercial fit-out projects
(iii) Strategic entry into Johor to capitalize on JSSEZ-led infrastructure boom
(iv) Active tender pipeline (~RM1.1bn) and average 9 tenders/week
(v) Margin uplift potential via steel and stone fabrication expansion
Research Team, M+
20 May 2025
Good Morning All,
We issued a technical buy call on Reach Ten Holdings Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Starlink partnership to unlock Sarawak’s rural broadband potential
(ii) Aggressive network expansion backed by IPO funds
(iii) Stronger earnings despite softer revenue
Research Team, M+
20 May 2025
We issued a technical buy call on Reach Ten Holdings Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Starlink partnership to unlock Sarawak’s rural broadband potential
(ii) Aggressive network expansion backed by IPO funds
(iii) Stronger earnings despite softer revenue
Research Team, M+
20 May 2025
👍5
M+ Market Wrap - 20May25
FBM KLCI: 1,548.87 pts (-7.27pts, -0.47%)
Tuesday’s session saw the local bourse extend its losses, dragged down by banking heavyweights as investors continued to digest lower-than-expected Q1 2025 Malaysia GDP data and cautious broker outlooks on the sector’s earnings. Market breadth was slightly positive, with a gainers-to-losers ratio of 1-to-1. Buying interest in Energy +1.03% heavyweights like YINSON (+5.0 sen) and ARMADA (+1.0 sen) spurred interest in the sector, while the Plantation -0.62% sector declined the most.
Top 3 Active stocks:
VELESTO (5243): RM0.165 (unch)
PEOPLE (0356): RM0.265 (+1.5 sen)
TANCO (2429): RM0.955 (+1.5 sen)
Volume: 2.61 bn (100-bar avg vol: 3.02 bn)
Value: RM1.98 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️478⬇️458
Crude palm oil: RM3,912 (+RM30)
Dow Futures: 42,819 pts (-66 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,548.87 pts (-7.27pts, -0.47%)
Tuesday’s session saw the local bourse extend its losses, dragged down by banking heavyweights as investors continued to digest lower-than-expected Q1 2025 Malaysia GDP data and cautious broker outlooks on the sector’s earnings. Market breadth was slightly positive, with a gainers-to-losers ratio of 1-to-1. Buying interest in Energy +1.03% heavyweights like YINSON (+5.0 sen) and ARMADA (+1.0 sen) spurred interest in the sector, while the Plantation -0.62% sector declined the most.
Top 3 Active stocks:
VELESTO (5243): RM0.165 (unch)
PEOPLE (0356): RM0.265 (+1.5 sen)
TANCO (2429): RM0.955 (+1.5 sen)
Volume: 2.61 bn (100-bar avg vol: 3.02 bn)
Value: RM1.98 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️478⬇️458
Crude palm oil: RM3,912 (+RM30)
Dow Futures: 42,819 pts (-66 pts)
**Source: Bloomberg, M+**
👍4
M+ Market Update – 21May25
Domestic Sectors, Stable Job Pipelines in Focus
US: Wall Street slid, snapping its six-day winning streak, even after one of the world’s largest retailers, Home Depot, posted better-than-expected earnings and reaffirmed its outlook — all against the backdrop of Trump’s protectionist trade policies. Investors have been awaiting further trade developments as US-Japan trade talks are set to take place this week. Notably, Wall Street futures are trading lower at the time of writing. This week, traders will focus on US unemployment claims, Flash Manufacturing PMI, and Flash Services PMI. Meanwhile, Brent crude traded flat around USD65/bbl range, while both Gold and FCPO climbed nearer to USD3,300/oz and RM3,904/MT, respectively.
MY: Tracking Wall Street’s performance, the local sentiment may soften, but we believe investors could shift their appetite towards domestically driven sectors and companies with stable job pipelines. Gamuda’s recent land acquisition could have spillover effect on its long-term construction partner, INTA, while SENDAI’s contract wins of ~RM1.3bn may boost the outstanding order book to RM6.6bn, which may translate to solid earnings visibility over the next 3-4 years, further supporting its share price. With ReachTen’s earnings coming in line with our estimates, the company remains undervalued due to its stable margins and recurring income.
Stocks to watch:
Utility: *GASMSIA*, *MNHLDG*, SCGBHD
Construction: INTA, KERJAYA, *SENDAI*
Other: *HAPSENG*
Consumer: *LHI*
Financial: RHBBANK
Plantation: INNO
Source: M+
Domestic Sectors, Stable Job Pipelines in Focus
US: Wall Street slid, snapping its six-day winning streak, even after one of the world’s largest retailers, Home Depot, posted better-than-expected earnings and reaffirmed its outlook — all against the backdrop of Trump’s protectionist trade policies. Investors have been awaiting further trade developments as US-Japan trade talks are set to take place this week. Notably, Wall Street futures are trading lower at the time of writing. This week, traders will focus on US unemployment claims, Flash Manufacturing PMI, and Flash Services PMI. Meanwhile, Brent crude traded flat around USD65/bbl range, while both Gold and FCPO climbed nearer to USD3,300/oz and RM3,904/MT, respectively.
MY: Tracking Wall Street’s performance, the local sentiment may soften, but we believe investors could shift their appetite towards domestically driven sectors and companies with stable job pipelines. Gamuda’s recent land acquisition could have spillover effect on its long-term construction partner, INTA, while SENDAI’s contract wins of ~RM1.3bn may boost the outstanding order book to RM6.6bn, which may translate to solid earnings visibility over the next 3-4 years, further supporting its share price. With ReachTen’s earnings coming in line with our estimates, the company remains undervalued due to its stable margins and recurring income.
Stocks to watch:
Utility: *GASMSIA*, *MNHLDG*, SCGBHD
Construction: INTA, KERJAYA, *SENDAI*
Other: *HAPSENG*
Consumer: *LHI*
Financial: RHBBANK
Plantation: INNO
Source: M+
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M+ Morning Market Buzz - 21May25
Dow Jones: 42,677.24 pts (-114.83pts, -0.27%)
⬆️ Resistance: 43700
⬇️ Support: 41000
FBM KLCI: 1,548.87 pts (-7.27pts, -0.47%)
⬆️ Resistance: 1620
⬇️ Support: 1520
HSI Index: 23,681.48 pts (+348.76pts, +1.49%)
⬆️ Resistance: 24200
⬇️ Support: 22600
Crude Palm Oil: RM3,908 (-RM4, -0.10%)
⬆️ Resistance: 4080
⬇️ Support: 3720
Brent Oil: $65.38 (-$0.16, -0.24%)
⬆️ Resistance: 68.00
⬇️ Support: 62.20
Gold: $3,290.13 (+$2.40, +0.07%)
⬆️ Resistance: 3370
⬇️ Support: 3060
Source: Bloomberg, M+
Dow Jones: 42,677.24 pts (-114.83pts, -0.27%)
⬆️ Resistance: 43700
⬇️ Support: 41000
FBM KLCI: 1,548.87 pts (-7.27pts, -0.47%)
⬆️ Resistance: 1620
⬇️ Support: 1520
HSI Index: 23,681.48 pts (+348.76pts, +1.49%)
⬆️ Resistance: 24200
⬇️ Support: 22600
Crude Palm Oil: RM3,908 (-RM4, -0.10%)
⬆️ Resistance: 4080
⬇️ Support: 3720
Brent Oil: $65.38 (-$0.16, -0.24%)
⬆️ Resistance: 68.00
⬇️ Support: 62.20
Gold: $3,290.13 (+$2.40, +0.07%)
⬆️ Resistance: 3370
⬇️ Support: 3060
Source: Bloomberg, M+
👍2
Good Morning All,
Here’s our IPO note on Paradigm REIT: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM1.21 per share for PARADIGM, representing a 21.0% upside from its IPO price of RM1.00. This valuation is based on a P/E ratio of 16.0x, pegged to the mid-FY26F DPU of 7.55 sen. We believe the ascribed P/E is justified, as the peer average historical P/E and forward P/E ratios range between 15.4x-22.0x.
Investment highlights include:
(i) Geographically diversified portfolio with large catchment population
(ii) High occupancy levels support stable rental income
(iii) Potential assets injection
(iv) Proactive asset management to drive rental growth and tenant retention
(v) Established sponsor WCT Holdings Berhad
Research Team, M+
21 May 2025
Here’s our IPO note on Paradigm REIT: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM1.21 per share for PARADIGM, representing a 21.0% upside from its IPO price of RM1.00. This valuation is based on a P/E ratio of 16.0x, pegged to the mid-FY26F DPU of 7.55 sen. We believe the ascribed P/E is justified, as the peer average historical P/E and forward P/E ratios range between 15.4x-22.0x.
Investment highlights include:
(i) Geographically diversified portfolio with large catchment population
(ii) High occupancy levels support stable rental income
(iii) Potential assets injection
(iv) Proactive asset management to drive rental growth and tenant retention
(v) Established sponsor WCT Holdings Berhad
Research Team, M+
21 May 2025
M+ Market Wrap - 21May25
FBM KLCI: 1,544.80 pts (-4.07pts, -0.26%)
Wednesday’s session saw the local bourse extending its losing streak — with Technology stocks posting the steepest decline, as renewed US-China chip trade tensions dampened sentiment. Market breadth tilted negatively with losers outpacing gainers at 649-to-342 stocks. However, Construction stocks (+1.05%) outperformed, with buying interest seen in GAMUDA (+6.0 sen), as the market potentially priced in its recent land acquisition, which spurred broader interest in the sector.
Top 3 Active stocks:
HM (0060): RM0.185 (+0.5 sen)
SCABLE (5170): RM0.030 (-0.5 sen)
MYEG (0138): RM0.900 (+0.5 sen)
Volume: 3.27 bn (100-bar avg vol: 3.03 bn)
Value: RM2.16 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️349⬇️642
Crude palm oil: RM3,893 (-RM15)
Dow Futures: 42,499 pts (-273 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,544.80 pts (-4.07pts, -0.26%)
Wednesday’s session saw the local bourse extending its losing streak — with Technology stocks posting the steepest decline, as renewed US-China chip trade tensions dampened sentiment. Market breadth tilted negatively with losers outpacing gainers at 649-to-342 stocks. However, Construction stocks (+1.05%) outperformed, with buying interest seen in GAMUDA (+6.0 sen), as the market potentially priced in its recent land acquisition, which spurred broader interest in the sector.
Top 3 Active stocks:
HM (0060): RM0.185 (+0.5 sen)
SCABLE (5170): RM0.030 (-0.5 sen)
MYEG (0138): RM0.900 (+0.5 sen)
Volume: 3.27 bn (100-bar avg vol: 3.03 bn)
Value: RM2.16 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️349⬇️642
Crude palm oil: RM3,893 (-RM15)
Dow Futures: 42,499 pts (-273 pts)
**Source: Bloomberg, M+**
👍2
M+ Market Update – 22May25
Domestic-Driven Stocks In Focus
US: Wall Street slid, extended its losing streak, due to (i) renewed uncertainties over US chip export policies, (ii) Target’s disappointing earnings and conservative outlook, with Trump’s protectionist trade stance weighing on consumer confidence, and (iii) Moody’s recent downgrade of the US credit rating. Sentiment is expected to stay negative as we are moving closer to the end of the 90-day tariff pause. Key economic reports such as unemployment claims, Flash manufacturing and services PMI are due tonight. On the commodities front, Brent oil traded along USD64-66/bbl, gold surged to USD3,318/oz, and FCPO remained stable at RM3,905/MT.
MY: Overall, local sentiment is expected to trade on a negative tone, tracking Wall Street’s performance. Trading opportunities may be seen in gold-related stocks like AUMAS, given the recent surge in gold prices amid global economic uncertainties. Despite the US-China tariff pause, pressure is mounting after US warned that Huawei’s Ascend chips would violate export controls, potentially capping upside for Technology stocks. Nevertheless, we remain positive on domestic-driven construction stocks like INTA, riding on Gamuda’s growth following the recent land
Stocks to watch:
Construction: *GAMUDA*, *INTA*, SUNCON
Utility: *GASMSIA*, PWRWELL
O&G: *DELEUM*
Other: *HAPSENG*
Consumer: LHI
Plantation: UTDPLT
Source: M+
Domestic-Driven Stocks In Focus
US: Wall Street slid, extended its losing streak, due to (i) renewed uncertainties over US chip export policies, (ii) Target’s disappointing earnings and conservative outlook, with Trump’s protectionist trade stance weighing on consumer confidence, and (iii) Moody’s recent downgrade of the US credit rating. Sentiment is expected to stay negative as we are moving closer to the end of the 90-day tariff pause. Key economic reports such as unemployment claims, Flash manufacturing and services PMI are due tonight. On the commodities front, Brent oil traded along USD64-66/bbl, gold surged to USD3,318/oz, and FCPO remained stable at RM3,905/MT.
MY: Overall, local sentiment is expected to trade on a negative tone, tracking Wall Street’s performance. Trading opportunities may be seen in gold-related stocks like AUMAS, given the recent surge in gold prices amid global economic uncertainties. Despite the US-China tariff pause, pressure is mounting after US warned that Huawei’s Ascend chips would violate export controls, potentially capping upside for Technology stocks. Nevertheless, we remain positive on domestic-driven construction stocks like INTA, riding on Gamuda’s growth following the recent land
Stocks to watch:
Construction: *GAMUDA*, *INTA*, SUNCON
Utility: *GASMSIA*, PWRWELL
O&G: *DELEUM*
Other: *HAPSENG*
Consumer: LHI
Plantation: UTDPLT
Source: M+
👍1
M+ Morning Market Buzz - 22May25
Dow Jones: 41,860.44 pts (-816.80pts, -1.91%)
⬆️ Resistance: 43700
⬇️ Support: 41000
FBM KLCI: 1,544.80 pts (-4.07pts, -0.26%)
⬆️ Resistance: 1620
⬇️ Support: 1520
HSI Index: 23,827.78 pts (+146.30pts, +0.62%)
⬆️ Resistance: 24400
⬇️ Support: 22600
Crude Palm Oil: RM3,894 (+RM11, +0.28%)
⬆️ Resistance: 4060
⬇️ Support: 3720
Brent Oil: $64.91 (-$0.47, -0.72%)
⬆️ Resistance: 68.00
⬇️ Support: 62.20
Gold: $3,314.96 (+$5.81, +0.18%)
⬆️ Resistance: 3400
⬇️ Support: 3060
Source: Bloomberg, M+
Dow Jones: 41,860.44 pts (-816.80pts, -1.91%)
⬆️ Resistance: 43700
⬇️ Support: 41000
FBM KLCI: 1,544.80 pts (-4.07pts, -0.26%)
⬆️ Resistance: 1620
⬇️ Support: 1520
HSI Index: 23,827.78 pts (+146.30pts, +0.62%)
⬆️ Resistance: 24400
⬇️ Support: 22600
Crude Palm Oil: RM3,894 (+RM11, +0.28%)
⬆️ Resistance: 4060
⬇️ Support: 3720
Brent Oil: $64.91 (-$0.47, -0.72%)
⬆️ Resistance: 68.00
⬇️ Support: 62.20
Gold: $3,314.96 (+$5.81, +0.18%)
⬆️ Resistance: 3400
⬇️ Support: 3060
Source: Bloomberg, M+
👍2🥰1👏1
Good Evening All,
We initiated a coverage report on LGMS Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM1.09 per share for LGMS, based on a P/E ratio of 35x pegged to mid-FY26F EPS of 3.12 sen. While this valuation represents a premium compared to both the local and globally cybersecurity peers, which trade at an average historical P/E and forward P/E between 14.5x to 17.8x for local peers and 25.9x to 31.1x for global peers, we believe it is justified given LGMS’s superior business model and strong fundamentals.
Investment highlights include:
(i) Independent cybersecurity services provider
(ii) Launch of StarSentry to expand SME market reach
(iii) Mitsui partnership supports international market expansion
(iv) Overseas contribution to diversify geographical risk
(v) Client base expansion through CNII sectors
(vi) Rising cyber threats amplify demand for LGMS services
(vii) Malaysia’s cybersecurity market poised for growth
(viii) Accredited with prestigious global certifications
(ix) Strategic workforce expansion for long-term growth
Research Team, M+
22 May 2025
We initiated a coverage report on LGMS Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM1.09 per share for LGMS, based on a P/E ratio of 35x pegged to mid-FY26F EPS of 3.12 sen. While this valuation represents a premium compared to both the local and globally cybersecurity peers, which trade at an average historical P/E and forward P/E between 14.5x to 17.8x for local peers and 25.9x to 31.1x for global peers, we believe it is justified given LGMS’s superior business model and strong fundamentals.
Investment highlights include:
(i) Independent cybersecurity services provider
(ii) Launch of StarSentry to expand SME market reach
(iii) Mitsui partnership supports international market expansion
(iv) Overseas contribution to diversify geographical risk
(v) Client base expansion through CNII sectors
(vi) Rising cyber threats amplify demand for LGMS services
(vii) Malaysia’s cybersecurity market poised for growth
(viii) Accredited with prestigious global certifications
(ix) Strategic workforce expansion for long-term growth
Research Team, M+
22 May 2025
👍2
M+ Market Wrap - 22May25
FBM KLCI: 1,527.02 pts (-17.78pts, -1.15%)
Thursday’s session saw the local bourse extending its losing streak, with Banking heavyweights dampening the sentiment — the latter was due to analysts’ conservative stance on NIMs and Malaysia’s economic growth outlook, and concerns over porlonged US-China trade tensions. Market breadth tilted negatively, with losers outpacing gainers at 660-to-298 stocks. While most sectors ended in the red, Telco & Media (+0.67%) outperformed, supported by Telekom Malaysia (+10.0 sen) and CDB (+2.0 sen).
Top 3 Active stocks:
VELESTO (5243): RM0.170 (+0.5 sen)
PBBANK (1295): RM4.300 (-13.0 sen)
TANCO (2429): RM0.950 (-1.5 sen)
Volume: 2.78 bn (100-bar avg vol: 3.03 bn)
Value: RM2.15 bn (100-bar avg val: RM2.50 bn)
Market Breadth: ⬆️298⬇️660
Crude palm oil: RM3,811 (-RM83)
Dow Futures: 41,903 pts (-44 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,527.02 pts (-17.78pts, -1.15%)
Thursday’s session saw the local bourse extending its losing streak, with Banking heavyweights dampening the sentiment — the latter was due to analysts’ conservative stance on NIMs and Malaysia’s economic growth outlook, and concerns over porlonged US-China trade tensions. Market breadth tilted negatively, with losers outpacing gainers at 660-to-298 stocks. While most sectors ended in the red, Telco & Media (+0.67%) outperformed, supported by Telekom Malaysia (+10.0 sen) and CDB (+2.0 sen).
Top 3 Active stocks:
VELESTO (5243): RM0.170 (+0.5 sen)
PBBANK (1295): RM4.300 (-13.0 sen)
TANCO (2429): RM0.950 (-1.5 sen)
Volume: 2.78 bn (100-bar avg vol: 3.03 bn)
Value: RM2.15 bn (100-bar avg val: RM2.50 bn)
Market Breadth: ⬆️298⬇️660
Crude palm oil: RM3,811 (-RM83)
Dow Futures: 41,903 pts (-44 pts)
**Source: Bloomberg, M+**
👍2👏1
M+ Morning Market Buzz - 23May25
Dow Jones: 41,859.09 pts (-1.35pts, -0.00%)
⬆️ Resistance: 43700
⬇️ Support: 40900
FBM KLCI: 1,527.02 pts (-17.78pts, -1.15%)
⬆️ Resistance: 1620
⬇️ Support: 1500
HSI Index: 23,544.31 pts (-283.47pts, -1.19%)
⬆️ Resistance: 24400
⬇️ Support: 22600
Crude Palm Oil: RM3,820 (+RM31, +0.81%)
⬆️ Resistance: 4020
⬇️ Support: 3720
Brent Oil: $64.44 (-$0.47, -0.72%)
⬆️ Resistance: 68.00
⬇️ Support: 62.30
Gold: $3,294.52 (+$1.63, +0.05%)
⬆️ Resistance: 3420
⬇️ Support: 3100
Source: Bloomberg, M+
Dow Jones: 41,859.09 pts (-1.35pts, -0.00%)
⬆️ Resistance: 43700
⬇️ Support: 40900
FBM KLCI: 1,527.02 pts (-17.78pts, -1.15%)
⬆️ Resistance: 1620
⬇️ Support: 1500
HSI Index: 23,544.31 pts (-283.47pts, -1.19%)
⬆️ Resistance: 24400
⬇️ Support: 22600
Crude Palm Oil: RM3,820 (+RM31, +0.81%)
⬆️ Resistance: 4020
⬇️ Support: 3720
Brent Oil: $64.44 (-$0.47, -0.72%)
⬆️ Resistance: 68.00
⬇️ Support: 62.30
Gold: $3,294.52 (+$1.63, +0.05%)
⬆️ Resistance: 3420
⬇️ Support: 3100
Source: Bloomberg, M+
👍1
M+ Market Update – 23May25
Bargain Hunting May Emerge
US: Thursday’s session saw Wall Street end mostly flat in choppy trade after the U.S. House of Representatives passed President Trump’s tax and spending bill, while ongoing concerns over the US credit outlook continued to push Treasury yields higher. Economic data exceeded expectations, with both the Flash Manufacturing and Services PMI stayed above 50. Wall Street futures are trading higher and we believe the market attention will turn to nuclear-energy sector as President Trump is expected to sign executive orders to jumpstart nuclear power. In the commodities market, Brent crude retreated toward USD64/bbl, with gold prices remaining stable at USD3,300/oz. CPO prices retreated further toward RM3,851/MT.
MY: Overall, we believe the market may trade slightly positive, tracking Wall Street’s futures movement. With little progress in easing renewed US-China tensions, we expect US chip restrictions to cap any significant upside for technology stocks. However, we see trading opportunities within the Construction sector such as SUNCON, following a recent flag formation breakout, better-than-expected quarterly earnings, coupled with DC contract wins. We also believe INTA could continue to benefit from active land banking by developers like GAMUDA. Meanwhile, we are positive on selected stocks within Renewable Energy, Consumer and Telco.
Stocks to watch:
Utility: SLVEST, *YTLPOWR*
Consumer: *FPHB*, MAGMA
Construction: *SUNCON*
Plantation: *UTDPLT*
Telco: *TIMECOM*
REIT: SUNREIT
Technology: SCICOM
Source: M+
Bargain Hunting May Emerge
US: Thursday’s session saw Wall Street end mostly flat in choppy trade after the U.S. House of Representatives passed President Trump’s tax and spending bill, while ongoing concerns over the US credit outlook continued to push Treasury yields higher. Economic data exceeded expectations, with both the Flash Manufacturing and Services PMI stayed above 50. Wall Street futures are trading higher and we believe the market attention will turn to nuclear-energy sector as President Trump is expected to sign executive orders to jumpstart nuclear power. In the commodities market, Brent crude retreated toward USD64/bbl, with gold prices remaining stable at USD3,300/oz. CPO prices retreated further toward RM3,851/MT.
MY: Overall, we believe the market may trade slightly positive, tracking Wall Street’s futures movement. With little progress in easing renewed US-China tensions, we expect US chip restrictions to cap any significant upside for technology stocks. However, we see trading opportunities within the Construction sector such as SUNCON, following a recent flag formation breakout, better-than-expected quarterly earnings, coupled with DC contract wins. We also believe INTA could continue to benefit from active land banking by developers like GAMUDA. Meanwhile, we are positive on selected stocks within Renewable Energy, Consumer and Telco.
Stocks to watch:
Utility: SLVEST, *YTLPOWR*
Consumer: *FPHB*, MAGMA
Construction: *SUNCON*
Plantation: *UTDPLT*
Telco: *TIMECOM*
REIT: SUNREIT
Technology: SCICOM
Source: M+
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Good Morning All,
We issued a technical buy call on Sunway Construction Group Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Beating analysts' estimates,
(ii) Another DCs project in pipeline,
(iii) Healthy order book level, supports near-term visbility.
Research Team, M+
23 May 2025
We issued a technical buy call on Sunway Construction Group Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Beating analysts' estimates,
(ii) Another DCs project in pipeline,
(iii) Healthy order book level, supports near-term visbility.
Research Team, M+
23 May 2025
👍3
M+ Market Wrap - 23May25
FBM KLCI: 1,535.38 pts (+8.36pts, +0.55%)
Friday’s session saw bargain hunting activities emerge on the local bourse — with Construction (+1.31%) stocks outperforming; the latter was due to robust SUNCON (+26.0 sen) earnings results on the heels of another DCs project win, which spurred buying interest in the sector. Market breadth tilted positively, with gainers outpacing losers at 468-to-447. However, Utilities continued to decline and has fallen below its EMA20 level.
Top 3 Active stocks:
ECOSHOP (5337): RM1.200 (+7.0 sen)
BARAKAH (7251): RM0.005 (-2.5 sen)
YTL (4677): RM1.880 (-11.0 sen)
Volume: 2.72 bn (100-bar avg vol: 3.02 bn)
Value: RM2.17 bn (100-bar avg val: RM2.50 bn)
Market Breadth: ⬆️468⬇️447
Crude palm oil: RM3,820 (-RM0)
Dow Futures: 41,928 pts (+3 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,535.38 pts (+8.36pts, +0.55%)
Friday’s session saw bargain hunting activities emerge on the local bourse — with Construction (+1.31%) stocks outperforming; the latter was due to robust SUNCON (+26.0 sen) earnings results on the heels of another DCs project win, which spurred buying interest in the sector. Market breadth tilted positively, with gainers outpacing losers at 468-to-447. However, Utilities continued to decline and has fallen below its EMA20 level.
Top 3 Active stocks:
ECOSHOP (5337): RM1.200 (+7.0 sen)
BARAKAH (7251): RM0.005 (-2.5 sen)
YTL (4677): RM1.880 (-11.0 sen)
Volume: 2.72 bn (100-bar avg vol: 3.02 bn)
Value: RM2.17 bn (100-bar avg val: RM2.50 bn)
Market Breadth: ⬆️468⬇️447
Crude palm oil: RM3,820 (-RM0)
Dow Futures: 41,928 pts (+3 pts)
**Source: Bloomberg, M+**
👍4
M+ Morning Market Buzz - 26May25
Dow Jones: 41,603.07 pts (-256.02pts, -0.61%)
⬆️ Resistance: 43700
⬇️ Support: 40600
FBM KLCI: 1,535.38 pts (+8.36pts, +0.55%)
⬆️ Resistance: 1600
⬇️ Support: 1500
HSI Index: 23,601.26 pts (+56.95pts, +0.24%)
⬆️ Resistance: 24400
⬇️ Support: 22600
Crude Palm Oil: RM3,827 (+RM7, +0.18%)
⬆️ Resistance: 4020
⬇️ Support: 3730
Brent Oil: $64.78 (+$0.44, +0.68%)
⬆️ Resistance: 68.00
⬇️ Support: 62.10
Gold: $3,357.51 (-$7.28, -0.22%)
⬆️ Resistance: 3440
⬇️ Support: 3150
Source: Bloomberg, M+
Dow Jones: 41,603.07 pts (-256.02pts, -0.61%)
⬆️ Resistance: 43700
⬇️ Support: 40600
FBM KLCI: 1,535.38 pts (+8.36pts, +0.55%)
⬆️ Resistance: 1600
⬇️ Support: 1500
HSI Index: 23,601.26 pts (+56.95pts, +0.24%)
⬆️ Resistance: 24400
⬇️ Support: 22600
Crude Palm Oil: RM3,827 (+RM7, +0.18%)
⬆️ Resistance: 4020
⬇️ Support: 3730
Brent Oil: $64.78 (+$0.44, +0.68%)
⬆️ Resistance: 68.00
⬇️ Support: 62.10
Gold: $3,357.51 (-$7.28, -0.22%)
⬆️ Resistance: 3440
⬇️ Support: 3150
Source: Bloomberg, M+
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M+ Market Update – 26May25
Markets Cheer EU Tariff Deadline Extension
US: Last Friday, Wall Street closed lower after President Trump announced 50% tariffs on all European Union goods, effective June 1, citing stalled trade negotiations. Apple was also threatened with a 25% tariff on iPhones made outside the US, urging the company to relocate its manufacturing facilities back to the US. However, he has extended the dateline to July 9 after a phone call with EU Commission President Ursula von der Leyen and we expect the market to react positively in the coming sessions. In the commodities market, Brent crude is approaching USD65/bbl, while gold prices declined marginally toward USD3,357/oz. CPO prices continued to hover above the RM3,851 level.
MY: Despite Wall Street’s weaker performance, we expect the local bourse to start the week positively after President Trump’s extension on EU tariffs dateline. Market attention will also be on the ASEAN Summit over the next 3 days. Sector wise, both Construction and REITs are trading above their MA200, outperforming other sectors. We maintain a positive outlook on these sectors, where Construction is supported by DC investments and ongoing infrastructure developments, while REITs offer stable dividends amid current market uncertainties. Lastly, traders may consider companies that recently announced strong quarterly results with favourable charts setup, such as AEMULUS, SLVEST, INTA, and PESONA.
Stocks to watch:
Construction: GAMUDA, *INTA*, PESONA, SUNCON
Utility: GASMSIA, *KJTS*, *MNHLDG*
Finance: AMBANK, *RHBBANK*
Consumer: *FPHB*
Plantation: UTDPLT
O&G: DELEUM
Source: M+
Markets Cheer EU Tariff Deadline Extension
US: Last Friday, Wall Street closed lower after President Trump announced 50% tariffs on all European Union goods, effective June 1, citing stalled trade negotiations. Apple was also threatened with a 25% tariff on iPhones made outside the US, urging the company to relocate its manufacturing facilities back to the US. However, he has extended the dateline to July 9 after a phone call with EU Commission President Ursula von der Leyen and we expect the market to react positively in the coming sessions. In the commodities market, Brent crude is approaching USD65/bbl, while gold prices declined marginally toward USD3,357/oz. CPO prices continued to hover above the RM3,851 level.
MY: Despite Wall Street’s weaker performance, we expect the local bourse to start the week positively after President Trump’s extension on EU tariffs dateline. Market attention will also be on the ASEAN Summit over the next 3 days. Sector wise, both Construction and REITs are trading above their MA200, outperforming other sectors. We maintain a positive outlook on these sectors, where Construction is supported by DC investments and ongoing infrastructure developments, while REITs offer stable dividends amid current market uncertainties. Lastly, traders may consider companies that recently announced strong quarterly results with favourable charts setup, such as AEMULUS, SLVEST, INTA, and PESONA.
Stocks to watch:
Construction: GAMUDA, *INTA*, PESONA, SUNCON
Utility: GASMSIA, *KJTS*, *MNHLDG*
Finance: AMBANK, *RHBBANK*
Consumer: *FPHB*
Plantation: UTDPLT
O&G: DELEUM
Source: M+
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M+ Market Wrap - 26May25
FBM KLCI: 1,534.30 pts (-1.08pts, -0.07%)
The FBMKLCI (-0.07%) snapped its Friday’s gains by closing lower at 1,534.30 pts, with losses in MISC (-18.0 sen) and CDB (-4.0 sen) weighing down the key index. Asian markets also ended broadly lower amid President Trump’s tariff uncertainties. Market breadth ended negative, with 595 losers against 338 winners. In the broader environment, REIT (+0.61%) outperformed, while Technology (-1.27%) sector ended on a negative tone following President Trump’s threat to impose a 25% tariff on Apple for iPhones made outside the US.
Top 3 Active stocks:
CMSB (2852): RM1.270 (+8.0 sen)
MAYBANK (1155): RM9.920 (+4.0 sen)
AMBANK (1015): RM5.440 (+3.0 sen)
Volume: 3.12 bn (100-bar avg vol: 3.03 bn)
Value: RM1.63 bn (100-bar avg val: RM2.48 bn)
Market Breadth: ⬆️338⬇️595
Crude palm oil: RM3,817 (-RM10)
Dow Futures: 42,120 pts (+446 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,534.30 pts (-1.08pts, -0.07%)
The FBMKLCI (-0.07%) snapped its Friday’s gains by closing lower at 1,534.30 pts, with losses in MISC (-18.0 sen) and CDB (-4.0 sen) weighing down the key index. Asian markets also ended broadly lower amid President Trump’s tariff uncertainties. Market breadth ended negative, with 595 losers against 338 winners. In the broader environment, REIT (+0.61%) outperformed, while Technology (-1.27%) sector ended on a negative tone following President Trump’s threat to impose a 25% tariff on Apple for iPhones made outside the US.
Top 3 Active stocks:
CMSB (2852): RM1.270 (+8.0 sen)
MAYBANK (1155): RM9.920 (+4.0 sen)
AMBANK (1015): RM5.440 (+3.0 sen)
Volume: 3.12 bn (100-bar avg vol: 3.03 bn)
Value: RM1.63 bn (100-bar avg val: RM2.48 bn)
Market Breadth: ⬆️338⬇️595
Crude palm oil: RM3,817 (-RM10)
Dow Futures: 42,120 pts (+446 pts)
**Source: Bloomberg, M+**
😍2
M+ Morning Market Buzz - 27May25
Dow Jones: 41,603.07 pts (-256.02pts, -0.61%)
⬆️ Resistance: 43700
⬇️ Support: 40600
FBM KLCI: 1,534.30 pts (-1.08pts, -0.07%)
⬆️ Resistance: 1600
⬇️ Support: 1500
HSI Index: 23,282.33 pts (-318.93pts, -1.35%)
⬆️ Resistance: 24400
⬇️ Support: 22800
Crude Palm Oil: RM3,833 (-RM14, -0.37%)
⬆️ Resistance: 4020
⬇️ Support: 3700
Brent Oil: $64.74 (-$0.04, -0.06%)
⬆️ Resistance: 68.00
⬇️ Support: 62.10
Gold: $3,343.84 (+$3.77, +0.11%)
⬆️ Resistance: 3440
⬇️ Support: 3150
Source: Bloomberg, M+
Dow Jones: 41,603.07 pts (-256.02pts, -0.61%)
⬆️ Resistance: 43700
⬇️ Support: 40600
FBM KLCI: 1,534.30 pts (-1.08pts, -0.07%)
⬆️ Resistance: 1600
⬇️ Support: 1500
HSI Index: 23,282.33 pts (-318.93pts, -1.35%)
⬆️ Resistance: 24400
⬇️ Support: 22800
Crude Palm Oil: RM3,833 (-RM14, -0.37%)
⬆️ Resistance: 4020
⬇️ Support: 3700
Brent Oil: $64.74 (-$0.04, -0.06%)
⬆️ Resistance: 68.00
⬇️ Support: 62.10
Gold: $3,343.84 (+$3.77, +0.11%)
⬆️ Resistance: 3440
⬇️ Support: 3150
Source: Bloomberg, M+