M+ Market Update – 27May25
Geopolitical Risks Could Cap Market Gains
US: Wall Street was closed for Memorial Day, with US equity futures trading higher following President Trump’s tariff deadline extension on the EU to July 9, in conjunction with the deadline for his 90-day pause on reciprocal tariffs. However, we believe the upside may be limited amid rising geopolitical tension, following Russia’s latest attacks on Ukraine despite ongoing peace talks. This may prompt President Trump to impose fresh sanctions on Russia. Investors will be focusing on NVIDIA’s results, US Q1 GDP and April’s Core PCE Price Index this week. In the commodities market, both Brent oil and gold prices traded flat around USD64-65/bbl and USD3,343/oz respectively. CPO prices declined marginally toward the RM3,819 level.
MY: The market may face further weakness amid continued foreign fund outflows. Besides, given rising geopolitical tension, and the wait for more clarity from the Trump administration, we expect the market to adopt a defensive stance and the momentum in REITs may persist. Several banking stocks have posted growth in their net interest income, including MAYBANK, AMBANK, and MBSB, and the share price may react positively. Investors may continue to monitor IJM, which recently secured the RM1.4bn New Pantai Expressway extension project from the government and the extension of the current toll concession, which ends in 2030.
Stocks to watch:
Utility: *BMGREEN*, *PWRWELL*, SCGBHD
Healthcare: DPHARMA, KPJ
O&G: DELEUM, *HAWK*
Finance: *AMBANK*
Consumer: *LHI*
Construction: *INTA*
REIT: SUNREIT
Telco: TIMECOM
Source: M+
Geopolitical Risks Could Cap Market Gains
US: Wall Street was closed for Memorial Day, with US equity futures trading higher following President Trump’s tariff deadline extension on the EU to July 9, in conjunction with the deadline for his 90-day pause on reciprocal tariffs. However, we believe the upside may be limited amid rising geopolitical tension, following Russia’s latest attacks on Ukraine despite ongoing peace talks. This may prompt President Trump to impose fresh sanctions on Russia. Investors will be focusing on NVIDIA’s results, US Q1 GDP and April’s Core PCE Price Index this week. In the commodities market, both Brent oil and gold prices traded flat around USD64-65/bbl and USD3,343/oz respectively. CPO prices declined marginally toward the RM3,819 level.
MY: The market may face further weakness amid continued foreign fund outflows. Besides, given rising geopolitical tension, and the wait for more clarity from the Trump administration, we expect the market to adopt a defensive stance and the momentum in REITs may persist. Several banking stocks have posted growth in their net interest income, including MAYBANK, AMBANK, and MBSB, and the share price may react positively. Investors may continue to monitor IJM, which recently secured the RM1.4bn New Pantai Expressway extension project from the government and the extension of the current toll concession, which ends in 2030.
Stocks to watch:
Utility: *BMGREEN*, *PWRWELL*, SCGBHD
Healthcare: DPHARMA, KPJ
O&G: DELEUM, *HAWK*
Finance: *AMBANK*
Consumer: *LHI*
Construction: *INTA*
REIT: SUNREIT
Telco: TIMECOM
Source: M+
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M+ Market Wrap - 27May25
FBM KLCI: 1,526.16 pts (-8.14pts, -0.53%)
The FBMKLCI (-0.53%) faced further weakness and closed lower at 1,526.16 pts, with losses in SIME (-27.0 sen) and MAXIS (-13.0 sen) dragging down the key index. SIME reported a 44.7% drop in net profit due to softer earnings across all its core divisions. The market breadth also ended negative, with 575 losers against 338 winners. In the broader environment, Plantation (+0.56%) outperformed as Malaysia seeks to further expand its palm oil market in China by offering a plant-based alternative for use in mala hotpot. Meanwhile, the Technology (-1.27%) sector experienced the largest decline.
Top 3 Active stocks:
KOPI (0338): RM0.790 (+5.0 sen)
AXIATA (6888): RM2.030 (+3.0 sen)
ADB (0276): RM1.160 (+4.0 sen)
Volume: 2.66 bn (100-bar avg vol: 3.03 bn)
Value: RM1.85 bn (100-bar avg val: RM2.48 bn)
Market Breadth: ⬆️338⬇️575
Crude palm oil: RM3,860 (+RM27)
Dow Futures: 42,235 pts (+561 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,526.16 pts (-8.14pts, -0.53%)
The FBMKLCI (-0.53%) faced further weakness and closed lower at 1,526.16 pts, with losses in SIME (-27.0 sen) and MAXIS (-13.0 sen) dragging down the key index. SIME reported a 44.7% drop in net profit due to softer earnings across all its core divisions. The market breadth also ended negative, with 575 losers against 338 winners. In the broader environment, Plantation (+0.56%) outperformed as Malaysia seeks to further expand its palm oil market in China by offering a plant-based alternative for use in mala hotpot. Meanwhile, the Technology (-1.27%) sector experienced the largest decline.
Top 3 Active stocks:
KOPI (0338): RM0.790 (+5.0 sen)
AXIATA (6888): RM2.030 (+3.0 sen)
ADB (0276): RM1.160 (+4.0 sen)
Volume: 2.66 bn (100-bar avg vol: 3.03 bn)
Value: RM1.85 bn (100-bar avg val: RM2.48 bn)
Market Breadth: ⬆️338⬇️575
Crude palm oil: RM3,860 (+RM27)
Dow Futures: 42,235 pts (+561 pts)
**Source: Bloomberg, M+**
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M+ Morning Market Buzz - 28May25
Dow Jones: 42,343.65 pts (+740.58pts, +1.78%)
⬆️ Resistance: 43300
⬇️ Support: 40600
FBM KLCI: 1,526.16 pts (-8.14pts, -0.53%)
⬆️ Resistance: 1590
⬇️ Support: 1500
HSI Index: 23,381.99 pts (+99.66pts, +0.43%)
⬆️ Resistance: 24400
⬇️ Support: 22800
Crude Palm Oil: RM3,868 (-RM6, -0.16%)
⬆️ Resistance: 4020
⬇️ Support: 3700
Brent Oil: $64.09 (-$0.65, -1.00%)
⬆️ Resistance: 68.00
⬇️ Support: 62.10
Gold: $3,300.87 (+$3.55, +0.11%)
⬆️ Resistance: 3440
⬇️ Support: 3220
Source: Bloomberg, M+
Dow Jones: 42,343.65 pts (+740.58pts, +1.78%)
⬆️ Resistance: 43300
⬇️ Support: 40600
FBM KLCI: 1,526.16 pts (-8.14pts, -0.53%)
⬆️ Resistance: 1590
⬇️ Support: 1500
HSI Index: 23,381.99 pts (+99.66pts, +0.43%)
⬆️ Resistance: 24400
⬇️ Support: 22800
Crude Palm Oil: RM3,868 (-RM6, -0.16%)
⬆️ Resistance: 4020
⬇️ Support: 3700
Brent Oil: $64.09 (-$0.65, -1.00%)
⬆️ Resistance: 68.00
⬇️ Support: 62.10
Gold: $3,300.87 (+$3.55, +0.11%)
⬆️ Resistance: 3440
⬇️ Support: 3220
Source: Bloomberg, M+
M+ Market Update – 28May25
Lifted By Strong Consumer Confidence
US: Wall Street rallied as the US consumer confidence rebounded after a five-month slump, cooling fears about the economy just days after President Trump postponed plans to impose tariffs on the European Union. The Consumer Confidence Index surged 12.3 points to 98.0, surpassing expectations of just 87.1. This was largely driven by renewed optimism surrounding economic conditions and in tandem with the US-China trade deal announced in mid-May. Meanwhile, investors will also focus on NVIDIA’s earnings results later today. In the commodities market, Brent crude is trading at USD64/bbl, gold prices continue to hover around the USD3,300 range, while CPO prices are trading at RM3,868/MT.
MY: Following the overnight positive sentiment on Wall Street, we believe the local bourse will trade higher today. Meanwhile, with the last day of the ASEAN Summit, we believe sectors like banking, tourism, digital economy, and logistics could be direct beneficiaries, as the bloc called for increased regional trade and freer movement of businesses and people. Besides, Sarawak construction and building materials-related counters like Cahya Mata and Hartanah Kenyalang (upcoming IPO) are on our radar following the state’s aggressive infrastructure development. Lastly, traders can observe KOPI for potential trading opportunities after a flag breakout.
Stocks to watch:
Utility: *KJTS*, *MNHLDG*, *PWRWELL*
Plantation: INNO, JTIASA
Building Material: *SCGBHD*
Construction: *GAMUDA*
O&G: DELEUM
Telco: TIMECOM
Source: M+
Lifted By Strong Consumer Confidence
US: Wall Street rallied as the US consumer confidence rebounded after a five-month slump, cooling fears about the economy just days after President Trump postponed plans to impose tariffs on the European Union. The Consumer Confidence Index surged 12.3 points to 98.0, surpassing expectations of just 87.1. This was largely driven by renewed optimism surrounding economic conditions and in tandem with the US-China trade deal announced in mid-May. Meanwhile, investors will also focus on NVIDIA’s earnings results later today. In the commodities market, Brent crude is trading at USD64/bbl, gold prices continue to hover around the USD3,300 range, while CPO prices are trading at RM3,868/MT.
MY: Following the overnight positive sentiment on Wall Street, we believe the local bourse will trade higher today. Meanwhile, with the last day of the ASEAN Summit, we believe sectors like banking, tourism, digital economy, and logistics could be direct beneficiaries, as the bloc called for increased regional trade and freer movement of businesses and people. Besides, Sarawak construction and building materials-related counters like Cahya Mata and Hartanah Kenyalang (upcoming IPO) are on our radar following the state’s aggressive infrastructure development. Lastly, traders can observe KOPI for potential trading opportunities after a flag breakout.
Stocks to watch:
Utility: *KJTS*, *MNHLDG*, *PWRWELL*
Plantation: INNO, JTIASA
Building Material: *SCGBHD*
Construction: *GAMUDA*
O&G: DELEUM
Telco: TIMECOM
Source: M+
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M+ Market Wrap - 28May25
FBM KLCI: 1,523.48 pts (-2.68pts, -0.18%)
Wednesday’s session saw the local bourse extending its losses — with Banking heavyweights like PBBANK (-5.0 sen) and RHBBANK (-18.0 sen) dampening sentiment following an uninspiring regional markets performances, albeit positive uptrend in Wall Street. Market breadth tilted negatively, with losers outpacing gainers at 474 to 435 stocks. The Construction (+2.55%) sector continued to outperform on the heels of SUNCON’s (+49.0 sen) DCs project win, which spurred buying interest in the sector, while the Plantation (-1.41%) sector declined the most.
Top 3 Active stocks:
VELESTO (5243): RM0.175 (+1.0 sen)
PERMAJU (7080): RM0.015 (-0.5 sen)
SAPNRG (5218): RM0.040 (unch)
Volume: 2.51 bn (100-bar avg vol: 3.03 bn)
Value: RM2.04 bn (100-bar avg val: RM2.48 bn)
Market Breadth: ⬆️435⬇️474
Crude palm oil: RM3,906 (+RM38)
Dow Futures: 42,315 pts (-95 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,523.48 pts (-2.68pts, -0.18%)
Wednesday’s session saw the local bourse extending its losses — with Banking heavyweights like PBBANK (-5.0 sen) and RHBBANK (-18.0 sen) dampening sentiment following an uninspiring regional markets performances, albeit positive uptrend in Wall Street. Market breadth tilted negatively, with losers outpacing gainers at 474 to 435 stocks. The Construction (+2.55%) sector continued to outperform on the heels of SUNCON’s (+49.0 sen) DCs project win, which spurred buying interest in the sector, while the Plantation (-1.41%) sector declined the most.
Top 3 Active stocks:
VELESTO (5243): RM0.175 (+1.0 sen)
PERMAJU (7080): RM0.015 (-0.5 sen)
SAPNRG (5218): RM0.040 (unch)
Volume: 2.51 bn (100-bar avg vol: 3.03 bn)
Value: RM2.04 bn (100-bar avg val: RM2.48 bn)
Market Breadth: ⬆️435⬇️474
Crude palm oil: RM3,906 (+RM38)
Dow Futures: 42,315 pts (-95 pts)
**Source: Bloomberg, M+**
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M+ Morning Market Buzz - 29May25
Dow Jones: 42,098.70 pts (-244.95pts, -0.58%)
⬆️ Resistance: 43300
⬇️ Support: 40600
FBM KLCI: 1,523.48 pts (-2.68pts, -0.18%)
⬆️ Resistance: 1580
⬇️ Support: 1500
HSI Index: 23,258.31 pts (-123.68pts, -0.53%)
⬆️ Resistance: 24300
⬇️ Support: 22800
Crude Palm Oil: RM3,899 (-RM17, -0.44%)
⬆️ Resistance: 4000
⬇️ Support: 3700
Brent Oil: $64.90 (+$0.81, +1.26%)
⬆️ Resistance: 67.00
⬇️ Support: 62.10
Gold: $3,287.48 (-$1.98, -0.06%)
⬆️ Resistance: 3440
⬇️ Support: 3220
Source: Bloomberg, M+
Dow Jones: 42,098.70 pts (-244.95pts, -0.58%)
⬆️ Resistance: 43300
⬇️ Support: 40600
FBM KLCI: 1,523.48 pts (-2.68pts, -0.18%)
⬆️ Resistance: 1580
⬇️ Support: 1500
HSI Index: 23,258.31 pts (-123.68pts, -0.53%)
⬆️ Resistance: 24300
⬇️ Support: 22800
Crude Palm Oil: RM3,899 (-RM17, -0.44%)
⬆️ Resistance: 4000
⬇️ Support: 3700
Brent Oil: $64.90 (+$0.81, +1.26%)
⬆️ Resistance: 67.00
⬇️ Support: 62.10
Gold: $3,287.48 (-$1.98, -0.06%)
⬆️ Resistance: 3440
⬇️ Support: 3220
Source: Bloomberg, M+
M+ Market Update – 29May25
Nvidia’s Results May Boost Market Sentiment
US: Wall Street retreated after reports surfaced that President Trump ordered US chip designers to stop sales of their semiconductors manufacturing software to China. This dragged down chip makers like Intel, AMD, and NVIDIA, as well as Cadence and Synopsys closing lower. However, Nvidia’s post market earnings release beat consensus estimates, driven by strong data center sales, lifting Wall Street futures higher. Meanwhile, Fed meeting minutes revealed policymakers adopting a wait-and-see approach on rate cuts amid tariff-related uncertainties. In the commodities market, Brent oil rangebound along USD64-65/bbl, gold prices breached the USD3,300 level, while CPO prices traded below RM3,900/MT.
MY: According to MITI, Malaysia’s digital investment pipeline hit RM59.1bn as of April 2025, fuelling growth in AI and tech sectors. Construction remains as a top-performing sector, supported by data centre investments; the construction index stayed above MA200 after contractors like SUNCON and GAMUDA delivering strong results. Meanwhile, we have initiated coverage on cybersecurity firm LGMS (M+ Fair Value: RM1.09), which stands to benefit from ongoing digitalisation and the Cybersecurity Act 2024. Investors may also consider companies with QoQ and YoY earnings growth, including MNHLDG, 99SMARTand HAWK.
Stocks to watch:
O&G: *DAYANG*, DELEUM, *HAWK*
Construction: *GAMUDA*, *IJM*, INTA
Utility: MNHLDG, *PWRWELL*
Plantation: INNO
Building Material: SCGBHD
Property: CRESNDO
Source: M+
Nvidia’s Results May Boost Market Sentiment
US: Wall Street retreated after reports surfaced that President Trump ordered US chip designers to stop sales of their semiconductors manufacturing software to China. This dragged down chip makers like Intel, AMD, and NVIDIA, as well as Cadence and Synopsys closing lower. However, Nvidia’s post market earnings release beat consensus estimates, driven by strong data center sales, lifting Wall Street futures higher. Meanwhile, Fed meeting minutes revealed policymakers adopting a wait-and-see approach on rate cuts amid tariff-related uncertainties. In the commodities market, Brent oil rangebound along USD64-65/bbl, gold prices breached the USD3,300 level, while CPO prices traded below RM3,900/MT.
MY: According to MITI, Malaysia’s digital investment pipeline hit RM59.1bn as of April 2025, fuelling growth in AI and tech sectors. Construction remains as a top-performing sector, supported by data centre investments; the construction index stayed above MA200 after contractors like SUNCON and GAMUDA delivering strong results. Meanwhile, we have initiated coverage on cybersecurity firm LGMS (M+ Fair Value: RM1.09), which stands to benefit from ongoing digitalisation and the Cybersecurity Act 2024. Investors may also consider companies with QoQ and YoY earnings growth, including MNHLDG, 99SMARTand HAWK.
Stocks to watch:
O&G: *DAYANG*, DELEUM, *HAWK*
Construction: *GAMUDA*, *IJM*, INTA
Utility: MNHLDG, *PWRWELL*
Plantation: INNO
Building Material: SCGBHD
Property: CRESNDO
Source: M+
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Good Morning All,
We initiated a coverage report on Inta Bina Group Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Initiate with a BUY call and target price of RM0.74, pegged to 11x FY26f PE. Valuations are undemanding, given its latest trading P/E of 7.5x, representing a c.53.3–103.9% discount to construction peers' current P/E and forward P/E, which stand at 11.5x– 15.4x. We believe this is justified given its high exposure to Malaysia’s key developers, healthy net cash position as well as prospective dividend yield of 3.9-4.4% as per its forecasted financial years.
Investment highlights include:
i) RM2.3bn orderbook ensures 2–3 years earnings visibility; RM3.2bn tenderbook in pipeline.
ii) 100% take-up for debut property project; well-positioned for affordable high-rise jobs.
iii) IBEE lift/escalator unit adds recurring income potential.
iv) Strong client ties (e.g. Gamuda, Sunway) support repeat job wins.
v) Johor growth, JSSEZ boost tendering prospects
vi) 80% QLASSIC score reinforces build quality and reputation.
Research Team, M+
29 May 2025
We initiated a coverage report on Inta Bina Group Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Initiate with a BUY call and target price of RM0.74, pegged to 11x FY26f PE. Valuations are undemanding, given its latest trading P/E of 7.5x, representing a c.53.3–103.9% discount to construction peers' current P/E and forward P/E, which stand at 11.5x– 15.4x. We believe this is justified given its high exposure to Malaysia’s key developers, healthy net cash position as well as prospective dividend yield of 3.9-4.4% as per its forecasted financial years.
Investment highlights include:
i) RM2.3bn orderbook ensures 2–3 years earnings visibility; RM3.2bn tenderbook in pipeline.
ii) 100% take-up for debut property project; well-positioned for affordable high-rise jobs.
iii) IBEE lift/escalator unit adds recurring income potential.
iv) Strong client ties (e.g. Gamuda, Sunway) support repeat job wins.
v) Johor growth, JSSEZ boost tendering prospects
vi) 80% QLASSIC score reinforces build quality and reputation.
Research Team, M+
29 May 2025
M+ Market Wrap - 29May25
FBM KLCI: 1,518.98 pts (-4.50pts, -0.30%)
The FBMKLCI (-0.30%) extended its decline, closing lower at 1,518.98 points, weighed down by losses in TM (-26.0 sen) and RHBBANK (-15.0 sen). Meanwhile, economists have revised Malaysia’s 2025 GDP growth forecast downward from 4.7% to 4.1%, based on the median estimate of 28 economists. Market breadth remained negative, with 478 decliners outpacing 466 gainers. In the broader market, the Technology sector (+2.65%) rebounded, reversing earlier selling pressure, while the Construction sector (-0.77%) posted the steepest drop.
Top 3 Active stocks:
ATAIMS (8176): RM0.300 (+4.0 sen)
INARI (0166): RM1.910 (+6.0 sen)
GREATEC (0208): RM1.730 (+14.0 sen)
Volume: 3.31 bn (100-bar avg vol: 3.04 bn)
Value: RM2.22 bn (100-bar avg val: RM2.48 bn)
Market Breadth: ⬆️466⬇️478
Crude palm oil: RM3,951 (+RM52)
Dow Futures: 42,628 pts (+458 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,518.98 pts (-4.50pts, -0.30%)
The FBMKLCI (-0.30%) extended its decline, closing lower at 1,518.98 points, weighed down by losses in TM (-26.0 sen) and RHBBANK (-15.0 sen). Meanwhile, economists have revised Malaysia’s 2025 GDP growth forecast downward from 4.7% to 4.1%, based on the median estimate of 28 economists. Market breadth remained negative, with 478 decliners outpacing 466 gainers. In the broader market, the Technology sector (+2.65%) rebounded, reversing earlier selling pressure, while the Construction sector (-0.77%) posted the steepest drop.
Top 3 Active stocks:
ATAIMS (8176): RM0.300 (+4.0 sen)
INARI (0166): RM1.910 (+6.0 sen)
GREATEC (0208): RM1.730 (+14.0 sen)
Volume: 3.31 bn (100-bar avg vol: 3.04 bn)
Value: RM2.22 bn (100-bar avg val: RM2.48 bn)
Market Breadth: ⬆️466⬇️478
Crude palm oil: RM3,951 (+RM52)
Dow Futures: 42,628 pts (+458 pts)
**Source: Bloomberg, M+**
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Good Evening All,
We issued a technical buy call on Visa Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Strong Q2 performance
(ii) Launching of new value-added services
(iii) Optimistic FY25 management guidance
Research Team, M+
29 May 2025
We issued a technical buy call on Visa Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Strong Q2 performance
(ii) Launching of new value-added services
(iii) Optimistic FY25 management guidance
Research Team, M+
29 May 2025
M+ Morning Market Buzz - 30May25
Dow Jones: 42,215.73 pts (+117.03pts, +0.28%)
⬆️ Resistance: 43300
⬇️ Support: 40600
FBM KLCI: 1,518.98 pts (-4.50pts, -0.30%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 23,573.38 pts (+315.07pts, +1.35%)
⬆️ Resistance: 24300
⬇️ Support: 22800
Crude Palm Oil: RM3,932 (-RM29, -0.74%)
⬆️ Resistance: 4050
⬇️ Support: 3700
Brent Oil: $64.15 (-$0.75, -1.16%)
⬆️ Resistance: 67.50
⬇️ Support: 62.10
Gold: $3,317.94 (-$2.59, -0.08%)
⬆️ Resistance: 3440
⬇️ Support: 3190
Source: Bloomberg, M+
Dow Jones: 42,215.73 pts (+117.03pts, +0.28%)
⬆️ Resistance: 43300
⬇️ Support: 40600
FBM KLCI: 1,518.98 pts (-4.50pts, -0.30%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 23,573.38 pts (+315.07pts, +1.35%)
⬆️ Resistance: 24300
⬇️ Support: 22800
Crude Palm Oil: RM3,932 (-RM29, -0.74%)
⬆️ Resistance: 4050
⬇️ Support: 3700
Brent Oil: $64.15 (-$0.75, -1.16%)
⬆️ Resistance: 67.50
⬇️ Support: 62.10
Gold: $3,317.94 (-$2.59, -0.08%)
⬆️ Resistance: 3440
⬇️ Support: 3190
Source: Bloomberg, M+
👍2
M+ Market Update – 30May25
Federal Court’s Decision Rekindles Trade Fears
US: Wall Street advanced after Nvidia announced stronger-than-expected Q1 earnings, with an EPS of USD0.96, surpassing forecasts of USD0.93. While this helped offset fresh uncertainty stemming from a US Court of International Trade ruling that President Trump exceeded his authority in imposing sweeping tariffs on major US trading partners, the US Court of Appeals in Washington temporarily blocked the lower court’s decision on Thursday. At the time of writing, Wall Street futures turned negative. In the commodities market, Brent oil trended lower at USD64, while gold traded sideways around USD3300 range. CPO prices traded higher above RM3,900/MT.
MY: According to MITI, ASEAN could generate an additional USD300bn in green revenues and unlock up to USD1.5tn in value by 2030 through green investments and regional collaboration in power grids, carbon markets and clean energy incentives. With rising adoption of green energy and stronger cross-border efforts, we believe local solar players stand to benefit. Despite the construction sector’s steep selloff, we view this as temporary profit taking, as the sector remains supported by data centre investments and major infrastructure developments, particularly Johor and Sarawak. Lastly, we initiated coverage on Inta Bina (M+ Fair Value: RM0.74).
Stocks to watch:
O&G: *DAYANG*, DELEUM
Consumer: *FFB*, L&PBHD
Utility: *KJTS*, *PWRWELL*
Building Material: *SCGBHD*
Construction: KERJAYA
Technology: WENTEL
Telco: TIMECOM
REIT: SUNREIT
Source: M+
Federal Court’s Decision Rekindles Trade Fears
US: Wall Street advanced after Nvidia announced stronger-than-expected Q1 earnings, with an EPS of USD0.96, surpassing forecasts of USD0.93. While this helped offset fresh uncertainty stemming from a US Court of International Trade ruling that President Trump exceeded his authority in imposing sweeping tariffs on major US trading partners, the US Court of Appeals in Washington temporarily blocked the lower court’s decision on Thursday. At the time of writing, Wall Street futures turned negative. In the commodities market, Brent oil trended lower at USD64, while gold traded sideways around USD3300 range. CPO prices traded higher above RM3,900/MT.
MY: According to MITI, ASEAN could generate an additional USD300bn in green revenues and unlock up to USD1.5tn in value by 2030 through green investments and regional collaboration in power grids, carbon markets and clean energy incentives. With rising adoption of green energy and stronger cross-border efforts, we believe local solar players stand to benefit. Despite the construction sector’s steep selloff, we view this as temporary profit taking, as the sector remains supported by data centre investments and major infrastructure developments, particularly Johor and Sarawak. Lastly, we initiated coverage on Inta Bina (M+ Fair Value: RM0.74).
Stocks to watch:
O&G: *DAYANG*, DELEUM
Consumer: *FFB*, L&PBHD
Utility: *KJTS*, *PWRWELL*
Building Material: *SCGBHD*
Construction: KERJAYA
Technology: WENTEL
Telco: TIMECOM
REIT: SUNREIT
Source: M+
👍1
M+ Market Wrap - 30May25
FBM KLCI: 1,508.35 pts (-10.63pts, -0.70%)
Following the US Court of Appeal's temporarily blocked the lower court’s decision, reinstating President Trump’s tariffs, Wall Street futures turned negative, with most of the regional markets ended in the red. The FBMKLCI (-0.70%) extended its selling pressure for the fifth consecutive day, ending lower at 1,508.35 pts, dragged by losses in CDB (-14.0 sen) and MAYBANK (-9.0 sen). Market breadth remained negative, with 616 losers against 336 winners. In the broader environment, The Transportation & Logistics (+0.87%) sector outperformed, while the Telecommunications & Media (-2.48%) sector declined the most.
Top 3 Active stocks:
KPJ (5878): RM2.720 (-24.0 sen)
ECOSHOP (5337): RM1.260 (+7.0 sen)
PBBANK (1295): RM4.310 (unch)
Volume: 3.21 bn (100-bar avg vol: 3.04 bn)
Value: RM5.04 bn (100-bar avg val: RM2.48 bn)
Market Breadth: ⬆️336⬇️616
Crude palm oil: RM3,866 (-RM66)
Dow Futures: 42,248 pts (-19 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,508.35 pts (-10.63pts, -0.70%)
Following the US Court of Appeal's temporarily blocked the lower court’s decision, reinstating President Trump’s tariffs, Wall Street futures turned negative, with most of the regional markets ended in the red. The FBMKLCI (-0.70%) extended its selling pressure for the fifth consecutive day, ending lower at 1,508.35 pts, dragged by losses in CDB (-14.0 sen) and MAYBANK (-9.0 sen). Market breadth remained negative, with 616 losers against 336 winners. In the broader environment, The Transportation & Logistics (+0.87%) sector outperformed, while the Telecommunications & Media (-2.48%) sector declined the most.
Top 3 Active stocks:
KPJ (5878): RM2.720 (-24.0 sen)
ECOSHOP (5337): RM1.260 (+7.0 sen)
PBBANK (1295): RM4.310 (unch)
Volume: 3.21 bn (100-bar avg vol: 3.04 bn)
Value: RM5.04 bn (100-bar avg val: RM2.48 bn)
Market Breadth: ⬆️336⬇️616
Crude palm oil: RM3,866 (-RM66)
Dow Futures: 42,248 pts (-19 pts)
**Source: Bloomberg, M+**
🥰2😁1
Good Evening All,
We issued a technical buy call on Alphabet Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Riding strong on AI wave
(ii) To stay resilient despite macro headwinds
(iii) OpEx margins to expand
Research Team, M+
30 May 2025
We issued a technical buy call on Alphabet Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Riding strong on AI wave
(ii) To stay resilient despite macro headwinds
(iii) OpEx margins to expand
Research Team, M+
30 May 2025
M+ Morning Market Buzz - 3Jun25
Dow Jones: 42,305.48 pts (+35.41pts, +0.08%)
⬆️ Resistance: 43300
⬇️ Support: 41000
FBM KLCI: 1,508.35 pts (-10.63pts, -0.70%)
⬆️ Resistance: 1570
⬇️ Support: 1480
HSI Index: 23,157.97 pts (-131.80pts, -0.57%)
⬆️ Resistance: 24100
⬇️ Support: 22300
Crude Palm Oil: RM3,878 (-RM54, -1.37%)
⬆️ Resistance: 4050
⬇️ Support: 3730
Brent Oil: $62.78 (+$2.29, +3.65%)
⬆️ Resistance: 67.50
⬇️ Support: 61.80
Gold: $3,381.59 (+$0.02, +0.00%)
⬆️ Resistance: 3460
⬇️ Support: 3190
Source: Bloomberg, M+
Dow Jones: 42,305.48 pts (+35.41pts, +0.08%)
⬆️ Resistance: 43300
⬇️ Support: 41000
FBM KLCI: 1,508.35 pts (-10.63pts, -0.70%)
⬆️ Resistance: 1570
⬇️ Support: 1480
HSI Index: 23,157.97 pts (-131.80pts, -0.57%)
⬆️ Resistance: 24100
⬇️ Support: 22300
Crude Palm Oil: RM3,878 (-RM54, -1.37%)
⬆️ Resistance: 4050
⬇️ Support: 3730
Brent Oil: $62.78 (+$2.29, +3.65%)
⬆️ Resistance: 67.50
⬇️ Support: 61.80
Gold: $3,381.59 (+$0.02, +0.00%)
⬆️ Resistance: 3460
⬇️ Support: 3190
Source: Bloomberg, M+
M+ Market Update – 03Jun25
Trade Tensions Spur Defensive Positioning
US: Semiconductor-related stocks maintained its momentum, led by chipmaker Nvidia Corp, which rallied over 1.5%. CoreWeave and Applied Digital surged 8% and 48.5%, respectively after Applied Digital announced a 250MW AI data center lease with CoreWeave. Meanwhile, US steel and aluminium shares surged after President Trump’s additional 25% tariff hike on steel and aluminium imports, which we believe will put more pressure on the Greenback. In the commodities market, Brent Crude rebounded to USD65/bbl, while Gold surged towards USD3,389/oz. CPO prices retreated towards RM3,878/MT.
MY: While last week saw moderate progress in de-escalating trade tensions, President Trump’s additional 25% tariff hike on steel and aluminium imports has reignited uncertainty. Given prolonged trade tensions, we see expect investors to adopt a defensive stance, favouring Consumer heavyweights like ECOSHOP and 99SMART, which have built self-reinforcing moat through convenience and competitive pricing. Also, with major developers pursuing land banking, we believe INTA stands to benefit significantly due to its high exposure to firms like Gamuda, Sime Darby and many more.
Stocks to watch:
O&G: *DELEUM*, GASMSIA
Construction: CHB, *KERJAYA*
REIT: *IGBREIT*, SUNREIT
Technology: *ADB*, SCICOM
Utility: *PWRWELL*
Finance: CIMB
Shipping and Logistics: WPRTS
Source: M+
Trade Tensions Spur Defensive Positioning
US: Semiconductor-related stocks maintained its momentum, led by chipmaker Nvidia Corp, which rallied over 1.5%. CoreWeave and Applied Digital surged 8% and 48.5%, respectively after Applied Digital announced a 250MW AI data center lease with CoreWeave. Meanwhile, US steel and aluminium shares surged after President Trump’s additional 25% tariff hike on steel and aluminium imports, which we believe will put more pressure on the Greenback. In the commodities market, Brent Crude rebounded to USD65/bbl, while Gold surged towards USD3,389/oz. CPO prices retreated towards RM3,878/MT.
MY: While last week saw moderate progress in de-escalating trade tensions, President Trump’s additional 25% tariff hike on steel and aluminium imports has reignited uncertainty. Given prolonged trade tensions, we see expect investors to adopt a defensive stance, favouring Consumer heavyweights like ECOSHOP and 99SMART, which have built self-reinforcing moat through convenience and competitive pricing. Also, with major developers pursuing land banking, we believe INTA stands to benefit significantly due to its high exposure to firms like Gamuda, Sime Darby and many more.
Stocks to watch:
O&G: *DELEUM*, GASMSIA
Construction: CHB, *KERJAYA*
REIT: *IGBREIT*, SUNREIT
Technology: *ADB*, SCICOM
Utility: *PWRWELL*
Finance: CIMB
Shipping and Logistics: WPRTS
Source: M+
👍2
M+ Market Wrap - 3Jun25
FBM KLCI: 1,503.25 pts (-5.10pts, -0.34%)
Following the prolonged trade tensions between the US and China, and the highly anticipated call between President Trump and President Xi this week, investors stayed cautious ahead of these key developments, with the FBMKLCI (-0.34%) closing lower for the sixth consecutive day at 1,503.25 pts. Market breadth remained negative, with 705 losers against 297 winners. In the broader environment, REITs (+0.58%) outperformed due to their defensive nature, while the Industrial Products & Services (-1.68%) sector saw the largest decline.
Top 3 Active stocks:
PERMAJU (7080): RM0.010 (-0.5 sen)
ICTZONE (0358): RM0.200 (unch)
TANCO (2429): RM1.000 (unch)
Volume: 3.05 bn (100-bar avg vol: 3.05 bn)
Value: RM2.21 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️297⬇️705
Crude palm oil: RM3,917 (+RM39)
Dow Futures: 42,192 pts (-182 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,503.25 pts (-5.10pts, -0.34%)
Following the prolonged trade tensions between the US and China, and the highly anticipated call between President Trump and President Xi this week, investors stayed cautious ahead of these key developments, with the FBMKLCI (-0.34%) closing lower for the sixth consecutive day at 1,503.25 pts. Market breadth remained negative, with 705 losers against 297 winners. In the broader environment, REITs (+0.58%) outperformed due to their defensive nature, while the Industrial Products & Services (-1.68%) sector saw the largest decline.
Top 3 Active stocks:
PERMAJU (7080): RM0.010 (-0.5 sen)
ICTZONE (0358): RM0.200 (unch)
TANCO (2429): RM1.000 (unch)
Volume: 3.05 bn (100-bar avg vol: 3.05 bn)
Value: RM2.21 bn (100-bar avg val: RM2.51 bn)
Market Breadth: ⬆️297⬇️705
Crude palm oil: RM3,917 (+RM39)
Dow Futures: 42,192 pts (-182 pts)
**Source: Bloomberg, M+**
M+ Market Update – 04Jun25
Awaiting Bargain Hunting Activities
US: Wall Street rallied higher, led by Tech giants such as Nvidia Corp, supported by progress in softening US-China trade tension, positive earnings guidance from consumer players like Dollar General Corp, and an unexpected increase in job openings. The stronger job data suggests a resilient economy and may serve as a short-term catalyst for US equities, easing concerns that tariffs could hamper business activity. On the commodities market, both Brent oil and CPO remained flat at USD65/bbl and RM3,948/MT while Gold retreated towards USD3,358/oz.
MY: With the steady momentum on Wall Street, we expect bargain hunting activities to emerge on the local front, especially the FBM KLCI is trading at a discounted P/E of ~14x against its long term average P/E of 17x. We believe SIMEPROP could be a good trading candidate, supported by its unbilled sales of ~RM3.8bn, a favourable product mix and the anticipated opening of the KLGCC mall in 2H25, which we expect to enhance margins and earnings stability. Meanwhile, amid ongoing US-China trade uncertainties, we believe REITs could act defensive play, offering a dividend yield of over 4%, while SUNREIT’s breakout may spur continued buying interest in the sector.
Stocks to watch:
Technology: *ADB*, NEXG, SCICOM
Property: *CRESNDO*, SIMEPROP
Transportation & Logistics: *WPRTS*
Construction: *GAMUDA*
Plantation: *INNO*
Telco: TM
Source: M+
Awaiting Bargain Hunting Activities
US: Wall Street rallied higher, led by Tech giants such as Nvidia Corp, supported by progress in softening US-China trade tension, positive earnings guidance from consumer players like Dollar General Corp, and an unexpected increase in job openings. The stronger job data suggests a resilient economy and may serve as a short-term catalyst for US equities, easing concerns that tariffs could hamper business activity. On the commodities market, both Brent oil and CPO remained flat at USD65/bbl and RM3,948/MT while Gold retreated towards USD3,358/oz.
MY: With the steady momentum on Wall Street, we expect bargain hunting activities to emerge on the local front, especially the FBM KLCI is trading at a discounted P/E of ~14x against its long term average P/E of 17x. We believe SIMEPROP could be a good trading candidate, supported by its unbilled sales of ~RM3.8bn, a favourable product mix and the anticipated opening of the KLGCC mall in 2H25, which we expect to enhance margins and earnings stability. Meanwhile, amid ongoing US-China trade uncertainties, we believe REITs could act defensive play, offering a dividend yield of over 4%, while SUNREIT’s breakout may spur continued buying interest in the sector.
Stocks to watch:
Technology: *ADB*, NEXG, SCICOM
Property: *CRESNDO*, SIMEPROP
Transportation & Logistics: *WPRTS*
Construction: *GAMUDA*
Plantation: *INNO*
Telco: TM
Source: M+
👍1
M+ Morning Market Buzz - 4Jun25
Dow Jones: 42,519.64 pts (+214.16pts, +0.51%)
⬆️ Resistance: 43500
⬇️ Support: 41000
FBM KLCI: 1,503.25 pts (-5.10pts, -0.34%)
⬆️ Resistance: 1570
⬇️ Support: 1470
HSI Index: 23,512.49 pts (+354.52pts, +1.53%)
⬆️ Resistance: 24100
⬇️ Support: 22300
Crude Palm Oil: RM3,934 (+RM14, +0.36%)
⬆️ Resistance: 4060
⬇️ Support: 3780
Brent Oil: $65.63 (-$0.11, -0.17%)
⬆️ Resistance: 67.50
⬇️ Support: 61.80
Gold: $3,353.43 (+$4.03, +0.12%)
⬆️ Resistance: 3470
⬇️ Support: 3190
Source: Bloomberg, M+
Dow Jones: 42,519.64 pts (+214.16pts, +0.51%)
⬆️ Resistance: 43500
⬇️ Support: 41000
FBM KLCI: 1,503.25 pts (-5.10pts, -0.34%)
⬆️ Resistance: 1570
⬇️ Support: 1470
HSI Index: 23,512.49 pts (+354.52pts, +1.53%)
⬆️ Resistance: 24100
⬇️ Support: 22300
Crude Palm Oil: RM3,934 (+RM14, +0.36%)
⬆️ Resistance: 4060
⬇️ Support: 3780
Brent Oil: $65.63 (-$0.11, -0.17%)
⬆️ Resistance: 67.50
⬇️ Support: 61.80
Gold: $3,353.43 (+$4.03, +0.12%)
⬆️ Resistance: 3470
⬇️ Support: 3190
Source: Bloomberg, M+
Good Morning All,
We issued a technical buy call on Sime Darby Property Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Margin expansion led by product mix and cost control
(ii) Unbilled sales at RM3.8bn
(iii) Upcoming KLGCC Mall to drive recurring income
Research Team, M+
4 June 2025
We issued a technical buy call on Sime Darby Property Bhd: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Margin expansion led by product mix and cost control
(ii) Unbilled sales at RM3.8bn
(iii) Upcoming KLGCC Mall to drive recurring income
Research Team, M+
4 June 2025