M+ Morning Market Buzz - 12Jun25
Dow Jones: 42,865.77 pts (-1.10pts, -0.00%)
⬆️ Resistance: 44000
⬇️ Support: 41400
FBM KLCI: 1,523.84 pts (+6.89pts, +0.45%)
⬆️ Resistance: 1570
⬇️ Support: 1480
HSI Index: 24,366.94 pts (+204.07pts, +0.84%)
⬆️ Resistance: 25000
⬇️ Support: 23300
Crude Palm Oil: RM3,839 (+RM2, +0.05%)
⬆️ Resistance: 4040
⬇️ Support: 3740
Brent Oil: $69.77 (+$2.90, +4.34%)
⬆️ Resistance: 72.30
⬇️ Support: 63.40
Gold: $3,355.12 (+$11.33, +0.15%)
⬆️ Resistance: 3480
⬇️ Support: 3230
Source: Bloomberg, M+
Dow Jones: 42,865.77 pts (-1.10pts, -0.00%)
⬆️ Resistance: 44000
⬇️ Support: 41400
FBM KLCI: 1,523.84 pts (+6.89pts, +0.45%)
⬆️ Resistance: 1570
⬇️ Support: 1480
HSI Index: 24,366.94 pts (+204.07pts, +0.84%)
⬆️ Resistance: 25000
⬇️ Support: 23300
Crude Palm Oil: RM3,839 (+RM2, +0.05%)
⬆️ Resistance: 4040
⬇️ Support: 3740
Brent Oil: $69.77 (+$2.90, +4.34%)
⬆️ Resistance: 72.30
⬇️ Support: 63.40
Gold: $3,355.12 (+$11.33, +0.15%)
⬆️ Resistance: 3480
⬇️ Support: 3230
Source: Bloomberg, M+
M+ Market Update – 12Jun25
Investors May Focus On O&G Amid Oil Price Surge
US: Wall Street closed lower following core CPI data and as investors awaited further details on US-China developments. Inflation was slower than expected, suggesting corporations may be relying on existing inventories and slowly adjusting prices for now. While trade talks are expected to yield favourable outcomes, the market remain cautious, awaiting the 90-day tariff pause and monitoring inflation and jobs data to gauge the Fed’s next move. We believe US equities will trade range-bound in the near term. In the commodities market, Brent oil and Gold prices breakout towards USD69/bbl and USD3,365/oz respectively, while CPO prices retreated to RM3,841/MT.
MY: Mirroring Wall Street’s negative performance, the KLCI may trade on a softer tone. However, we remain positive on the Construction sector, especially SUNCON, following its recent RM1.16bn project win, which boost its outstanding order book at ~RM7.90bn (a cover ratio of >2x FY24 revenue). Traders may also focus on the O&G sector amid rising crude oil price due to escalating geopolitical tension between US-Iran. Aside from healthy dividend payouts, we favour SUNREITs for its active asset acquisition activities and defensive characteristics in weathering economic uncertainties.
Stocks to watch:
Utility: GASMSIA, *MNHLDG*, SCGBHD
Construction: *INTA*, SUNCON
Technology: *KGB*, *NE*
Solar: *PEKAT*
O&G: *DAYANG*
Finance: OSK
Source: M+
Investors May Focus On O&G Amid Oil Price Surge
US: Wall Street closed lower following core CPI data and as investors awaited further details on US-China developments. Inflation was slower than expected, suggesting corporations may be relying on existing inventories and slowly adjusting prices for now. While trade talks are expected to yield favourable outcomes, the market remain cautious, awaiting the 90-day tariff pause and monitoring inflation and jobs data to gauge the Fed’s next move. We believe US equities will trade range-bound in the near term. In the commodities market, Brent oil and Gold prices breakout towards USD69/bbl and USD3,365/oz respectively, while CPO prices retreated to RM3,841/MT.
MY: Mirroring Wall Street’s negative performance, the KLCI may trade on a softer tone. However, we remain positive on the Construction sector, especially SUNCON, following its recent RM1.16bn project win, which boost its outstanding order book at ~RM7.90bn (a cover ratio of >2x FY24 revenue). Traders may also focus on the O&G sector amid rising crude oil price due to escalating geopolitical tension between US-Iran. Aside from healthy dividend payouts, we favour SUNREITs for its active asset acquisition activities and defensive characteristics in weathering economic uncertainties.
Stocks to watch:
Utility: GASMSIA, *MNHLDG*, SCGBHD
Construction: *INTA*, SUNCON
Technology: *KGB*, *NE*
Solar: *PEKAT*
O&G: *DAYANG*
Finance: OSK
Source: M+
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M+ Global Market Wrap - 12Jun25
FBM KLCI: 1,526.46 pts (+2.62pts, +0.17%)
Bucking Wall Street’s downbeat overnight performance, Thursday’s session saw the local bourse remain resilient, with traders continuing to pile into YTL-related counters, contributing to slightly higher FBM KLCI movement. However, total traded volume dropped below its 3-month average, with losers outpacing gainers at 500-to-379. On the broader market, Utilities (+0.40%) stocks outperformed, with PETGAS (+38.0 sen) and YTLPOWR (+5.0 sen) leading the pack, while the Health Care (-0.58%) sector declined the most.
Top 3 Active stocks:
MYEG (0138): RM0.965 (-0.5 sen)
PDZ (6254): RM0.030 (unch)
JIANKUN (8923): RM0.030 (+0.5 sen)
Volume: 2.73 bn (100-bar avg vol: 3.00 bn)
Value: RM2.07 bn (100-bar avg val: RM2.47 bn)
Market Breadth: ⬆️379⬇️500
Crude palm oil: RM3,830 (-RM9)
Dow Futures: 42,706 pts (-202 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,526.46 pts (+2.62pts, +0.17%)
Bucking Wall Street’s downbeat overnight performance, Thursday’s session saw the local bourse remain resilient, with traders continuing to pile into YTL-related counters, contributing to slightly higher FBM KLCI movement. However, total traded volume dropped below its 3-month average, with losers outpacing gainers at 500-to-379. On the broader market, Utilities (+0.40%) stocks outperformed, with PETGAS (+38.0 sen) and YTLPOWR (+5.0 sen) leading the pack, while the Health Care (-0.58%) sector declined the most.
Top 3 Active stocks:
MYEG (0138): RM0.965 (-0.5 sen)
PDZ (6254): RM0.030 (unch)
JIANKUN (8923): RM0.030 (+0.5 sen)
Volume: 2.73 bn (100-bar avg vol: 3.00 bn)
Value: RM2.07 bn (100-bar avg val: RM2.47 bn)
Market Breadth: ⬆️379⬇️500
Crude palm oil: RM3,830 (-RM9)
Dow Futures: 42,706 pts (-202 pts)
**Source: M+ Global, Bloomberg **
M+ Market Update – 13Jun25
Market Expected To Trade Higher
US: With recent progress toward the de-escalation of US-China trade tensions, risk appetite improved as Wall Street edged higher, while bond yields declined following slower-than-anticipated PPI data. Despite the ongoing positive developments in the trade talks, we believe the market may adopt a wait-and-see approach, focusing on the 90-day tariff pause and the Fed’s next move. Thus, we expect the US equities to trade within a range in the near term. In the commodities market, both Brent Crude and Gold traded relatively higher at USD69/bbl and USD3,384 while CPO prices ended flat along RM3,849/MT.
MY: Tracking Wall Street’s upbeat overnight performance, the KLCI could trade on a positive tone. We expect the overall positive developments within the US-China traded discussion to support the buying interest within the Technology sector, with key focus on selected upward trending companies such as KGB, VITROX and FRONTKN. Meanwhile, we opine the overall NETR initiatives and green energy efforts will provide a boost to the solar-related industry, especially in rooftop solar panel installations over the coming years. For a defensive play, we favour SUNREIT given its quality asset portfolio as well as its stable DPU growth.
Stocks to watch:
Technology: *FRONTKN*, KGB, *VITROX*
Consumer: KOPI, *MFLOUR*
Property: *CRESNDO*
Logistics: *WPRTS*
Finance: *RHBBANK*
Utility: SLVEST
Plantation: INNO
Source: M+
Market Expected To Trade Higher
US: With recent progress toward the de-escalation of US-China trade tensions, risk appetite improved as Wall Street edged higher, while bond yields declined following slower-than-anticipated PPI data. Despite the ongoing positive developments in the trade talks, we believe the market may adopt a wait-and-see approach, focusing on the 90-day tariff pause and the Fed’s next move. Thus, we expect the US equities to trade within a range in the near term. In the commodities market, both Brent Crude and Gold traded relatively higher at USD69/bbl and USD3,384 while CPO prices ended flat along RM3,849/MT.
MY: Tracking Wall Street’s upbeat overnight performance, the KLCI could trade on a positive tone. We expect the overall positive developments within the US-China traded discussion to support the buying interest within the Technology sector, with key focus on selected upward trending companies such as KGB, VITROX and FRONTKN. Meanwhile, we opine the overall NETR initiatives and green energy efforts will provide a boost to the solar-related industry, especially in rooftop solar panel installations over the coming years. For a defensive play, we favour SUNREIT given its quality asset portfolio as well as its stable DPU growth.
Stocks to watch:
Technology: *FRONTKN*, KGB, *VITROX*
Consumer: KOPI, *MFLOUR*
Property: *CRESNDO*
Logistics: *WPRTS*
Finance: *RHBBANK*
Utility: SLVEST
Plantation: INNO
Source: M+
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M+ Morning Market Buzz - 13Jun25
Dow Jones: 42,967.62 pts (+101.85pts, +0.24%)
⬆ Resistance: 44000
⬇ Support: 41800
FBM KLCI: 1,526.62 pts (+2.78pts, +0.18%)
⬆ Resistance: 1570
⬇ Support: 1490
HSI Index: 24,035.38 pts (-331.56pts, -1.36%)
⬆ Resistance: 25000
⬇ Support: 23300
Crude Palm Oil: RM3,839 (+RM10, +0.26%)
⬆ Resistance: 4040
⬇ Support: 3740
Brent Oil: $69.36 (+$3.96, +5.71%)
⬆ Resistance: 72.30
⬇ Support: 63.60
Gold: $3,385.92 (+$25.00, +0.74%)
⬆ Resistance: 3470
⬇ Support: 3230
Source: Bloomberg, M+
Dow Jones: 42,967.62 pts (+101.85pts, +0.24%)
⬆ Resistance: 44000
⬇ Support: 41800
FBM KLCI: 1,526.62 pts (+2.78pts, +0.18%)
⬆ Resistance: 1570
⬇ Support: 1490
HSI Index: 24,035.38 pts (-331.56pts, -1.36%)
⬆ Resistance: 25000
⬇ Support: 23300
Crude Palm Oil: RM3,839 (+RM10, +0.26%)
⬆ Resistance: 4040
⬇ Support: 3740
Brent Oil: $69.36 (+$3.96, +5.71%)
⬆ Resistance: 72.30
⬇ Support: 63.60
Gold: $3,385.92 (+$25.00, +0.74%)
⬆ Resistance: 3470
⬇ Support: 3230
Source: Bloomberg, M+
M+ Global Market Wrap - 13Jun25
FBM KLCI: 1,518.11 pts (-8.51pts, -0.56%)
Bucking Wall Street’s positive overnight performance, sentiment on the local front turned weaker amid rising geopolitical tension between Israel and Iran, translating to a decline in FBMKLCI, led by financial heavyweights like MAYBANK (-7.0 sen), CIMB (-4.0 sen) and PBBANK (-7.0 sen). Market breadth was negative, with losers outnumbering winners by a ratio of 3-to-1. On the broader market, the Energy (+2.01%) sector outperformed, led by DIALOG (+6.0 sen) and YINSON (+3.0 sen), while the Technology (-2.32%) sector declined the most.
Top 3 Active stocks:
MYEG (0138): RM0.955 (-1.0 sen)
TANCO (2429): RM0.96 (+0.5 sen)
VELESTO (5243): RM0.185 (+0.5 sen)
Volume: 2.88 bn (100-bar avg vol: 3.00 bn)
Value: RM2.06 bn (100-bar avg val: RM2.47 bn)
Market Breadth: ⬆250⬇764
Crude palm oil: RM3,906 (+RM67)
Dow Futures: 42,490 pts (-500 pts)
Source: M+ Global, Bloomberg
FBM KLCI: 1,518.11 pts (-8.51pts, -0.56%)
Bucking Wall Street’s positive overnight performance, sentiment on the local front turned weaker amid rising geopolitical tension between Israel and Iran, translating to a decline in FBMKLCI, led by financial heavyweights like MAYBANK (-7.0 sen), CIMB (-4.0 sen) and PBBANK (-7.0 sen). Market breadth was negative, with losers outnumbering winners by a ratio of 3-to-1. On the broader market, the Energy (+2.01%) sector outperformed, led by DIALOG (+6.0 sen) and YINSON (+3.0 sen), while the Technology (-2.32%) sector declined the most.
Top 3 Active stocks:
MYEG (0138): RM0.955 (-1.0 sen)
TANCO (2429): RM0.96 (+0.5 sen)
VELESTO (5243): RM0.185 (+0.5 sen)
Volume: 2.88 bn (100-bar avg vol: 3.00 bn)
Value: RM2.06 bn (100-bar avg val: RM2.47 bn)
Market Breadth: ⬆250⬇764
Crude palm oil: RM3,906 (+RM67)
Dow Futures: 42,490 pts (-500 pts)
Source: M+ Global, Bloomberg
M+ Morning Market Buzz - 16Jun25
Dow Jones: 42,197.79 pts (-769.83pts, -1.79%)
⬆️ Resistance: 44000
⬇️ Support: 41300
FBM KLCI: 1,518.11 pts (-8.51pts, -0.56%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 23,892.56 pts (-142.82pts, -0.59%)
⬆️ Resistance: 25000
⬇️ Support: 23300
Crude Palm Oil: RM3,922 (+RM86, +2.24%)
⬆️ Resistance: 4040
⬇️ Support: 3740
Brent Oil: $74.23 (+$1.79, +2.41%)
⬆️ Resistance: 80.10
⬇️ Support: 64.80
Gold: $3,432.34 (+$15.70, +0.46%)
⬆️ Resistance: 3520
⬇️ Support: 3230
Source: Bloomberg, M+
Dow Jones: 42,197.79 pts (-769.83pts, -1.79%)
⬆️ Resistance: 44000
⬇️ Support: 41300
FBM KLCI: 1,518.11 pts (-8.51pts, -0.56%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 23,892.56 pts (-142.82pts, -0.59%)
⬆️ Resistance: 25000
⬇️ Support: 23300
Crude Palm Oil: RM3,922 (+RM86, +2.24%)
⬆️ Resistance: 4040
⬇️ Support: 3740
Brent Oil: $74.23 (+$1.79, +2.41%)
⬆️ Resistance: 80.10
⬇️ Support: 64.80
Gold: $3,432.34 (+$15.70, +0.46%)
⬆️ Resistance: 3520
⬇️ Support: 3230
Source: Bloomberg, M+
M+ Market Update – 16Jun25
The Risk-Off Environment May Persist
US: Wall Street edged lower last Friday following Israel’s attack on Iran, intensifying global risk-off sentiment. G7 leaders gathered in Canada starting Sunday, with the Israel-Iran conflict to be high on their agenda. Meanwhile, Boeing and global aviation stocks faced pressure after a fatal Air India Dreamliner crash, raising concerns over Boeing’s safety record. On the economic front, May’s CPI came in softer-than-expected, easing some inflation worries and the Fed’s rate cut expectation has now shifted toward September, with more than 50% probability of a 25bps cut. In the commodities market, both Brent oil and Gold continued to rise, trading at USD74/bbl and USD3,432, respectively, amid heightened geopolitical tensions, while CPO prices broke above RM3,900/MT.
MY: Following the intensified Israel-Iran conflict over the weekend, we expect the local bourse start the week on a softer tone, as investors may adopt a risk-off approach. Given the spike in both Brent oil and gold prices, trading opportunities may emerge in the O&G-related and gold companies, as these commodities are trading in an elevated environment. Lastly, investors may continue to focus on defensive sectors like Utilities and REITs, with GASMSIA and SUNREIT being our top preferences.
Stocks to watch:
Utility: GASMSIA, *PWRWELL*, SCGBHD
O&G: *DELEUM*, *HAWK*
Consumer: *KOPI*, *MRDIY*
Finance: *OSK*
REIT: IGBREIT, SUNREIT
Construction: SUNCON
Source: M+ Global
The Risk-Off Environment May Persist
US: Wall Street edged lower last Friday following Israel’s attack on Iran, intensifying global risk-off sentiment. G7 leaders gathered in Canada starting Sunday, with the Israel-Iran conflict to be high on their agenda. Meanwhile, Boeing and global aviation stocks faced pressure after a fatal Air India Dreamliner crash, raising concerns over Boeing’s safety record. On the economic front, May’s CPI came in softer-than-expected, easing some inflation worries and the Fed’s rate cut expectation has now shifted toward September, with more than 50% probability of a 25bps cut. In the commodities market, both Brent oil and Gold continued to rise, trading at USD74/bbl and USD3,432, respectively, amid heightened geopolitical tensions, while CPO prices broke above RM3,900/MT.
MY: Following the intensified Israel-Iran conflict over the weekend, we expect the local bourse start the week on a softer tone, as investors may adopt a risk-off approach. Given the spike in both Brent oil and gold prices, trading opportunities may emerge in the O&G-related and gold companies, as these commodities are trading in an elevated environment. Lastly, investors may continue to focus on defensive sectors like Utilities and REITs, with GASMSIA and SUNREIT being our top preferences.
Stocks to watch:
Utility: GASMSIA, *PWRWELL*, SCGBHD
O&G: *DELEUM*, *HAWK*
Consumer: *KOPI*, *MRDIY*
Finance: *OSK*
REIT: IGBREIT, SUNREIT
Construction: SUNCON
Source: M+ Global
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Good Afternoon All,
Here’s our IPO note on Pan Merchant Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.33 per share for PMIBHD, representing a 22.2% upside from its IPO price of RM0.27. This valuation is based on a P/E ratio of 25.0x, pegged to the mid-FY26F EPS of 1.30 sen. We believe the ascribed P/E is fair, given that the Bursa Malaysia Industrial Production Index (KLPRO) has been trading within a trailing P/E valuation band of 23.6x (-1 standard deviation) to 34.8x (+1 standard deviation), based on its 2-year average P/E of 29.2x.
Meanwhile, even though the ascribed P/E multiple is higher than that of its international peers, which trade at an average forward P/E and historical P/E of 15.3x to 17.6x, we believe the higher valuation is justified. Unlike its European counterparts, PMIBHD incurs significantly lower production costs while delivering similar products. This cost advantage should not only support the group’s target global market share of 1%-2% through competitive pricing but also bolster its ongoing global expansion efforts. Also, PMIBHD is Malaysia’s largest solid-liquid filtration provider by revenue, further reinforcing its strong market position.
Investment highlights include:
(i) Product development in the mining industry
(ii) International presence with continuous global expansion
(iii) 38 years pioneer serving across diverse range of industries
(iv) Certified to international standards
(v) Global market share expansion
Research Team, M+
16 Jun 2025
Here’s our IPO note on Pan Merchant Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.33 per share for PMIBHD, representing a 22.2% upside from its IPO price of RM0.27. This valuation is based on a P/E ratio of 25.0x, pegged to the mid-FY26F EPS of 1.30 sen. We believe the ascribed P/E is fair, given that the Bursa Malaysia Industrial Production Index (KLPRO) has been trading within a trailing P/E valuation band of 23.6x (-1 standard deviation) to 34.8x (+1 standard deviation), based on its 2-year average P/E of 29.2x.
Meanwhile, even though the ascribed P/E multiple is higher than that of its international peers, which trade at an average forward P/E and historical P/E of 15.3x to 17.6x, we believe the higher valuation is justified. Unlike its European counterparts, PMIBHD incurs significantly lower production costs while delivering similar products. This cost advantage should not only support the group’s target global market share of 1%-2% through competitive pricing but also bolster its ongoing global expansion efforts. Also, PMIBHD is Malaysia’s largest solid-liquid filtration provider by revenue, further reinforcing its strong market position.
Investment highlights include:
(i) Product development in the mining industry
(ii) International presence with continuous global expansion
(iii) 38 years pioneer serving across diverse range of industries
(iv) Certified to international standards
(v) Global market share expansion
Research Team, M+
16 Jun 2025
M+ Global Market Wrap - 16Jun25
FBM KLCI: 1,519.99 pts (+1.88pts, +0.12%)
Despite the negative closing in the US last week, most of the Asian markets bucked the trend and ended positively, including the FBMKLCI (+0.12%). The local bourse reversed its earlier losses and ended the day higher at 1,519.99 pts, buoyed by gains in AXIATA (+9.0 sen) and SDG (+11.0 sen). However, the market breadth remained negative, with 613 losers against 321 winners. In the broader environment, the Plantation (+1.79%) sector outperformed, led by SDG (+11.0 sen) and IOICORP (+11.0 sen), while the Healthcare (-1.94%) sector declined the most following the US-China tariffs rollback, presenting a softer outlook for the local glove counters.
Top 3 Active stocks:
MYEG (0138): RM0.930 (-2.5 sen)
TANCO (2429): RM0.955 (-0.5 sen)
TRIVE (0118): RM0.015 (+0.5 sen)
Volume: 2.84 bn (100-bar avg vol: 2.99 bn)
Value: RM2.05 bn (100-bar avg val: RM2.46 bn)
Market Breadth: ⬆️321⬇️613
Crude palm oil: RM4,083 (+RM161)
Dow Futures: 42,726 pts (+203 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,519.99 pts (+1.88pts, +0.12%)
Despite the negative closing in the US last week, most of the Asian markets bucked the trend and ended positively, including the FBMKLCI (+0.12%). The local bourse reversed its earlier losses and ended the day higher at 1,519.99 pts, buoyed by gains in AXIATA (+9.0 sen) and SDG (+11.0 sen). However, the market breadth remained negative, with 613 losers against 321 winners. In the broader environment, the Plantation (+1.79%) sector outperformed, led by SDG (+11.0 sen) and IOICORP (+11.0 sen), while the Healthcare (-1.94%) sector declined the most following the US-China tariffs rollback, presenting a softer outlook for the local glove counters.
Top 3 Active stocks:
MYEG (0138): RM0.930 (-2.5 sen)
TANCO (2429): RM0.955 (-0.5 sen)
TRIVE (0118): RM0.015 (+0.5 sen)
Volume: 2.84 bn (100-bar avg vol: 2.99 bn)
Value: RM2.05 bn (100-bar avg val: RM2.46 bn)
Market Breadth: ⬆️321⬇️613
Crude palm oil: RM4,083 (+RM161)
Dow Futures: 42,726 pts (+203 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 17Jun25
Dow Jones: 42,515.09 pts (+317.30pts, +0.75%)
⬆️ Resistance: 44000
⬇️ Support: 41300
FBM KLCI: 1,519.99 pts (+1.88pts, +0.12%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 24,060.99 pts (+168.43pts, +0.70%)
⬆️ Resistance: 25000
⬇️ Support: 23300
Crude Palm Oil: RM4,094 (-RM17, -0.42%)
⬆️ Resistance: 4190
⬇️ Support: 3740
Brent Oil: $73.23 (-$1.00, -1.35%)
⬆️ Resistance: 80.10
⬇️ Support: 65.20
Gold: $3,385.23 (+$8.95, +0.26%)
⬆️ Resistance: 3530
⬇️ Support: 3240
Source: Bloomberg, M+
Dow Jones: 42,515.09 pts (+317.30pts, +0.75%)
⬆️ Resistance: 44000
⬇️ Support: 41300
FBM KLCI: 1,519.99 pts (+1.88pts, +0.12%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 24,060.99 pts (+168.43pts, +0.70%)
⬆️ Resistance: 25000
⬇️ Support: 23300
Crude Palm Oil: RM4,094 (-RM17, -0.42%)
⬆️ Resistance: 4190
⬇️ Support: 3740
Brent Oil: $73.23 (-$1.00, -1.35%)
⬆️ Resistance: 80.10
⬇️ Support: 65.20
Gold: $3,385.23 (+$8.95, +0.26%)
⬆️ Resistance: 3530
⬇️ Support: 3240
Source: Bloomberg, M+
M+ Market Update – 17Jun25
Focus On The FOMC And Iran-Israel Tensions
US: Wall Street advanced following news that Iran is seeking a ceasefire, which Iran later denied, creating market uncertainty and volatility. Meanwhile, investors will turn their attention on the FOMC meeting where will start later today, with rates expected to remain at 4.5% and the key focus will be whether the Fed signals future rate cuts following softer US inflation and a cooling economy. Another few key events that traders may monitor will be the G7 summit, US retail and core retail. In the commodities market, Brent oil retraced toward USD73/bbl, while Gold is trading at USD3,385/oz. Meanwhile, CPO prices soared above RM4,000/MT.
MY: Despite conflicting reports on Iran’s ceasefire stance, trading opportunities may persist in the gold and O&G-related counters. Meanwhile, with TENAGA spending RM43bn on grid upgrades to support clean energy, coupled with policies like NETR and CRESS, should benefit the local solar players in the long run. We favour SLVEST, which recently secured a 25-year power purchase agreement with the Brunei government for a 30MWac solar PV power plant, the largest solar PV plant in Brunei. Lastly, traders can look into the Plantation sector following CPO breakout yesterday; INNO’s Bloomberg indicated yield is more than 10%.
Stocks to watch:
Telco: *AXIATA*, MAXIS, TM
Plantation: *INNO*, *JPG*
Utility: *GASMSIA*, KJTS
Construction: *CHB*
Technology: RAMSSOL
Automotive: TCHONG
Source: M+ Global
Focus On The FOMC And Iran-Israel Tensions
US: Wall Street advanced following news that Iran is seeking a ceasefire, which Iran later denied, creating market uncertainty and volatility. Meanwhile, investors will turn their attention on the FOMC meeting where will start later today, with rates expected to remain at 4.5% and the key focus will be whether the Fed signals future rate cuts following softer US inflation and a cooling economy. Another few key events that traders may monitor will be the G7 summit, US retail and core retail. In the commodities market, Brent oil retraced toward USD73/bbl, while Gold is trading at USD3,385/oz. Meanwhile, CPO prices soared above RM4,000/MT.
MY: Despite conflicting reports on Iran’s ceasefire stance, trading opportunities may persist in the gold and O&G-related counters. Meanwhile, with TENAGA spending RM43bn on grid upgrades to support clean energy, coupled with policies like NETR and CRESS, should benefit the local solar players in the long run. We favour SLVEST, which recently secured a 25-year power purchase agreement with the Brunei government for a 30MWac solar PV power plant, the largest solar PV plant in Brunei. Lastly, traders can look into the Plantation sector following CPO breakout yesterday; INNO’s Bloomberg indicated yield is more than 10%.
Stocks to watch:
Telco: *AXIATA*, MAXIS, TM
Plantation: *INNO*, *JPG*
Utility: *GASMSIA*, KJTS
Construction: *CHB*
Technology: RAMSSOL
Automotive: TCHONG
Source: M+ Global
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M+ Global Market Wrap - 17Jun25
FBM KLCI: 1,511.64 pts (-8.35pts, -0.55%)
In line with the regional market performance, the FBMKLCI (-0.55%) reversed its gains and closed lower at 1511.64 pts, dragged by losses in CIMB (-9.0 sen) and SDG (-12.0 sen). This came after President Trump posted on social media that “everyone should evacuate Tehran,” keeping markets uncertain over the Israel-Iran conflict. Market breadth remained negative, with 538 losers against 353 winners. In the broader environment, the Property (+0.50%) sector outperformed, while the Energy (-1.78%) sector declined the most due to profit-taking activities and a slowdown in Brent oil momentum.
Top 3 Active stocks:
BORNOIL (7036): RM0.010 (unch)
TOPGLOV (7113): RM0.715 (-4.0 sen)
MYEG (0138): RM0.935 (+0.5 sen)
Volume: 3.03 bn (100-bar avg vol: 2.99 bn)
Value: RM1.93 bn (100-bar avg val: RM2.46 bn)
Market Breadth: ⬆️353⬇️538
Crude palm oil: RM4,067 (-RM27)
Dow Futures: 42,635 pts (-229 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,511.64 pts (-8.35pts, -0.55%)
In line with the regional market performance, the FBMKLCI (-0.55%) reversed its gains and closed lower at 1511.64 pts, dragged by losses in CIMB (-9.0 sen) and SDG (-12.0 sen). This came after President Trump posted on social media that “everyone should evacuate Tehran,” keeping markets uncertain over the Israel-Iran conflict. Market breadth remained negative, with 538 losers against 353 winners. In the broader environment, the Property (+0.50%) sector outperformed, while the Energy (-1.78%) sector declined the most due to profit-taking activities and a slowdown in Brent oil momentum.
Top 3 Active stocks:
BORNOIL (7036): RM0.010 (unch)
TOPGLOV (7113): RM0.715 (-4.0 sen)
MYEG (0138): RM0.935 (+0.5 sen)
Volume: 3.03 bn (100-bar avg vol: 2.99 bn)
Value: RM1.93 bn (100-bar avg val: RM2.46 bn)
Market Breadth: ⬆️353⬇️538
Crude palm oil: RM4,067 (-RM27)
Dow Futures: 42,635 pts (-229 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 18Jun25
Dow Jones: 42,215.80 pts (-299.29pts, -0.70%)
⬆️ Resistance: 44000
⬇️ Support: 41300
FBM KLCI: 1,511.64 pts (-8.35pts, -0.55%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 23,980.30 pts (-80.69pts, -0.34%)
⬆️ Resistance: 25000
⬇️ Support: 23300
Crude Palm Oil: RM4,064 (+RM32, +0.79%)
⬆️ Resistance: 4210
⬇️ Support: 3740
Brent Oil: $76.45 (+$3.22, +4.40%)
⬆️ Resistance: 80.10
⬇️ Support: 65.20
Gold: $3,388.11 (+$2.35, +0.07%)
⬆️ Resistance: 3530
⬇️ Support: 3250
Source: Bloomberg, M+
Dow Jones: 42,215.80 pts (-299.29pts, -0.70%)
⬆️ Resistance: 44000
⬇️ Support: 41300
FBM KLCI: 1,511.64 pts (-8.35pts, -0.55%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 23,980.30 pts (-80.69pts, -0.34%)
⬆️ Resistance: 25000
⬇️ Support: 23300
Crude Palm Oil: RM4,064 (+RM32, +0.79%)
⬆️ Resistance: 4210
⬇️ Support: 3740
Brent Oil: $76.45 (+$3.22, +4.40%)
⬆️ Resistance: 80.10
⬇️ Support: 65.20
Gold: $3,388.11 (+$2.35, +0.07%)
⬆️ Resistance: 3530
⬇️ Support: 3250
Source: Bloomberg, M+
M+ Market Update – 18Jun25
Iran-Israel Tensions Intensified
US: Wall Street retreated following reports that the US may join the conflict against Iran, with President Trump considering a potential US strike after meeting with top advisers at the White House. He cited that the US has complete control over Iranian skies. The Fed has also started its two-day meeting and is widely expected to keep interest rates unchanged. US retail sales fell by 0.9% last month, attributed to a decline in motor vehicle purchases as the rush to beat potential tariff-related price hikes faded. In the commodities market, Brent oil surged toward USD 76/bbl, while gold is trading at USD 3,388/oz. Meanwhile, CPO prices were sustained above RM 4,000/MT.
MY: Given the prolonged tension between Israel and Iran, we opine that trading interest will persist in gold and O&G-related counters. Meanwhile, with Malaysia moving up 11 spots to 23rd in the World Competitiveness Ranking, which generally measures how business-friendly a country is, we believe investors should continue to look into the construction sector, supported by data center investments and the JS-SEZ initiative. Lastly, we remain optimistic about the solar sector, as many players reported increasing revenue and profits and are expected to benefit from the country’s renewable energy goals.
Stocks to watch:
Consumer: FFB, *MFLOUR*, MRDIY
O&G: *DELEUM*, GASMSIA, PETDAG
Technology: *ADB*, NE
Solar: *PEKAT*, *SLVEST*
Utility: PWRWELL
Plantation: JPG
Source: M+ Global
Iran-Israel Tensions Intensified
US: Wall Street retreated following reports that the US may join the conflict against Iran, with President Trump considering a potential US strike after meeting with top advisers at the White House. He cited that the US has complete control over Iranian skies. The Fed has also started its two-day meeting and is widely expected to keep interest rates unchanged. US retail sales fell by 0.9% last month, attributed to a decline in motor vehicle purchases as the rush to beat potential tariff-related price hikes faded. In the commodities market, Brent oil surged toward USD 76/bbl, while gold is trading at USD 3,388/oz. Meanwhile, CPO prices were sustained above RM 4,000/MT.
MY: Given the prolonged tension between Israel and Iran, we opine that trading interest will persist in gold and O&G-related counters. Meanwhile, with Malaysia moving up 11 spots to 23rd in the World Competitiveness Ranking, which generally measures how business-friendly a country is, we believe investors should continue to look into the construction sector, supported by data center investments and the JS-SEZ initiative. Lastly, we remain optimistic about the solar sector, as many players reported increasing revenue and profits and are expected to benefit from the country’s renewable energy goals.
Stocks to watch:
Consumer: FFB, *MFLOUR*, MRDIY
O&G: *DELEUM*, GASMSIA, PETDAG
Technology: *ADB*, NE
Solar: *PEKAT*, *SLVEST*
Utility: PWRWELL
Plantation: JPG
Source: M+ Global
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M+ Global Market Wrap - 18Jun25
FBM KLCI: 1,511.95 pts (+0.31pts, +0.02%)
The FBMKLCI (+0.02%) rose marignally to 1,511.95 pts today, led by gains in banking heavyweights like MAYBANK (+7.0 sen) and PBBANK (+2.0 sen) despite the concerns over the ongoing geopolitical tensions between Israel and Iran. The market is trading on a cautious tone ahead of the Fed's decision later, with expectations for interest rates to remain unchanged.The market breadth remained negative, with 488 losers against 361 winners. In the broader environment, the Transportation & Logistics (+0.45%) sector outperformed, while the Telecommunications & Media (-0.94%) sector saw the largest decline.
Top 3 Active stocks:
TANCO (2429): RM0.980 (+0.5 sen)
SNS (0259): RM0.535 (+4.0 sen)
MAGMA (7243): RM0.460 (+3.0 sen)
Volume: 2.43 bn (100-bar avg vol: 2.98 bn)
Value: RM1.80 bn (100-bar avg val: RM2.44 bn)
Market Breadth: ⬆️361⬇️488
Crude palm oil: RM4,103 (+RM39)
Dow Futures: 42,661 pts (+105 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,511.95 pts (+0.31pts, +0.02%)
The FBMKLCI (+0.02%) rose marignally to 1,511.95 pts today, led by gains in banking heavyweights like MAYBANK (+7.0 sen) and PBBANK (+2.0 sen) despite the concerns over the ongoing geopolitical tensions between Israel and Iran. The market is trading on a cautious tone ahead of the Fed's decision later, with expectations for interest rates to remain unchanged.The market breadth remained negative, with 488 losers against 361 winners. In the broader environment, the Transportation & Logistics (+0.45%) sector outperformed, while the Telecommunications & Media (-0.94%) sector saw the largest decline.
Top 3 Active stocks:
TANCO (2429): RM0.980 (+0.5 sen)
SNS (0259): RM0.535 (+4.0 sen)
MAGMA (7243): RM0.460 (+3.0 sen)
Volume: 2.43 bn (100-bar avg vol: 2.98 bn)
Value: RM1.80 bn (100-bar avg val: RM2.44 bn)
Market Breadth: ⬆️361⬇️488
Crude palm oil: RM4,103 (+RM39)
Dow Futures: 42,661 pts (+105 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 19Jun25
Dow Jones: 42,171.66 pts (-44.14pts, -0.10%)
⬆️ Resistance: 43900
⬇️ Support: 41300
FBM KLCI: 1,511.95 pts (+0.31pts, +0.02%)
⬆️ Resistance: 1560
⬇️ Support: 1480
HSI Index: 23,710.69 pts (-269.61pts, -1.12%)
⬆️ Resistance: 24800
⬇️ Support: 23200
Crude Palm Oil: RM4,100 (+RM1, +0.02%)
⬆️ Resistance: 4210
⬇️ Support: 3750
Brent Oil: $76.70 (+$0.25, +0.33%)
⬆️ Resistance: 80.10
⬇️ Support: 67.00
Gold: $3,369.38 (+$5.48, +0.16%)
⬆️ Resistance: 3530
⬇️ Support: 3280
Source: Bloomberg, M+
Dow Jones: 42,171.66 pts (-44.14pts, -0.10%)
⬆️ Resistance: 43900
⬇️ Support: 41300
FBM KLCI: 1,511.95 pts (+0.31pts, +0.02%)
⬆️ Resistance: 1560
⬇️ Support: 1480
HSI Index: 23,710.69 pts (-269.61pts, -1.12%)
⬆️ Resistance: 24800
⬇️ Support: 23200
Crude Palm Oil: RM4,100 (+RM1, +0.02%)
⬆️ Resistance: 4210
⬇️ Support: 3750
Brent Oil: $76.70 (+$0.25, +0.33%)
⬆️ Resistance: 80.10
⬇️ Support: 67.00
Gold: $3,369.38 (+$5.48, +0.16%)
⬆️ Resistance: 3530
⬇️ Support: 3280
Source: Bloomberg, M+
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M+ Market Update – 19Jun25
Market Staying Cautious
US: Wall Street traded mixed after the Fed held interest rates steady at 4.25%–4.50% but adopted a hawkish outlook with fewer projected rate cuts. The dot plot maintained two potential rate cuts for 2025 but removed one reduction each for 2026 and 2027. This occurred amid uncertainty from President Trump’s tariff policies impacting the US economy. In the commodities market, Brent oil traded near USD76/bbl after Iran Supreme Leader’s rejection on Trump’s ‘unconditional surrender’ order. Gold is trading at USD3,369/oz, while the CPO traded at RM 4,100/MT.
MY: TENAGA’s RM43bn commitment to upgrade the national grid, driven by rising data centre demand and the nation's renewable energy transition, reinforces our positive stance on the Utility, Construction, and Solar sectors. MNHLDG recently secured a RM39.6m contract to expand a data centre's cable landing station electrical supply system. Meanwhile, SLVEST secured a 25-year PPA with the Brunei government for a 30MWac solar plant, the largest of its kind in Brunei. Investors may consider the upcoming IPO of ASM Automation (M+ Fair Value: RM0.21), whose application closes today.
Stocks to watch:
O&G: DAYANG, *DELEUM*, GASMSIA
Utility: *MNHLDG*, PWRWELL, *SCGBHD*
Technology: *NE*, *SNS*
Consumer: *MRDIY*
Solar: SLVEST
Logistics: HI
Plantation: INNO
Source: M+ Global
Market Staying Cautious
US: Wall Street traded mixed after the Fed held interest rates steady at 4.25%–4.50% but adopted a hawkish outlook with fewer projected rate cuts. The dot plot maintained two potential rate cuts for 2025 but removed one reduction each for 2026 and 2027. This occurred amid uncertainty from President Trump’s tariff policies impacting the US economy. In the commodities market, Brent oil traded near USD76/bbl after Iran Supreme Leader’s rejection on Trump’s ‘unconditional surrender’ order. Gold is trading at USD3,369/oz, while the CPO traded at RM 4,100/MT.
MY: TENAGA’s RM43bn commitment to upgrade the national grid, driven by rising data centre demand and the nation's renewable energy transition, reinforces our positive stance on the Utility, Construction, and Solar sectors. MNHLDG recently secured a RM39.6m contract to expand a data centre's cable landing station electrical supply system. Meanwhile, SLVEST secured a 25-year PPA with the Brunei government for a 30MWac solar plant, the largest of its kind in Brunei. Investors may consider the upcoming IPO of ASM Automation (M+ Fair Value: RM0.21), whose application closes today.
Stocks to watch:
O&G: DAYANG, *DELEUM*, GASMSIA
Utility: *MNHLDG*, PWRWELL, *SCGBHD*
Technology: *NE*, *SNS*
Consumer: *MRDIY*
Solar: SLVEST
Logistics: HI
Plantation: INNO
Source: M+ Global
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M+ Global Market Wrap - 19Jun25
FBM KLCI: 1,501.44 pts (-10.51pts, -0.70%)
The FBMKLCI (-0.70%) reversed its gains yesterday and tumbled to 1,501.44 pts, dragged by losses in PBBANK (-5.0 sen) and PCHEM (-11.0 sen). This followed the possible US entry into the Israel-Iran war, which has contributed to selldown in the regional markets. The market breadth remained negative, with 660 losers against 298 winners. In the broader environment, REIT (+0.06%) was the only sector that ended positive, while Industrial Products & Services (-1.21%) saw the largest decline.
Top 3 Active stocks:
PUC (0007): RM0.020 (-1.0 sen)
TANCO (2429): RM0.955 (-2.5 sen)
MYEG (0138): RM0.905 (-2.5 sen)
Volume: 2.82 bn (100-bar avg vol: 2.97 bn)
Value: RM1.70 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️298⬇️660
Crude palm oil: RM4,108 (+RM8)
Dow Futures: 42,347 pts (-165 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,501.44 pts (-10.51pts, -0.70%)
The FBMKLCI (-0.70%) reversed its gains yesterday and tumbled to 1,501.44 pts, dragged by losses in PBBANK (-5.0 sen) and PCHEM (-11.0 sen). This followed the possible US entry into the Israel-Iran war, which has contributed to selldown in the regional markets. The market breadth remained negative, with 660 losers against 298 winners. In the broader environment, REIT (+0.06%) was the only sector that ended positive, while Industrial Products & Services (-1.21%) saw the largest decline.
Top 3 Active stocks:
PUC (0007): RM0.020 (-1.0 sen)
TANCO (2429): RM0.955 (-2.5 sen)
MYEG (0138): RM0.905 (-2.5 sen)
Volume: 2.82 bn (100-bar avg vol: 2.97 bn)
Value: RM1.70 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️298⬇️660
Crude palm oil: RM4,108 (+RM8)
Dow Futures: 42,347 pts (-165 pts)
**Source: M+ Global, Bloomberg **
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M+ Morning Market Buzz - 20Jun25
Dow Jones: 42,171.66 pts (-44.14pts, -0.10%)
⬆️ Resistance: 43600
⬇️ Support: 41300
FBM KLCI: 1,501.44 pts (-10.51pts, -0.70%)
⬆️ Resistance: 1560
⬇️ Support: 1480
HSI Index: 23,237.74 pts (-472.95pts, -1.99%)
⬆️ Resistance: 24700
⬇️ Support: 22800
Crude Palm Oil: RM4,104 (+RM39, +0.95%)
⬆️ Resistance: 4220
⬇️ Support: 3770
Brent Oil: $78.85 (+$2.15, +2.80%)
⬆️ Resistance: 80.70
⬇️ Support: 69.10
Gold: $3,370.90 (-$5.75, -0.17%)
⬆️ Resistance: 3530
⬇️ Support: 3290
Source: Bloomberg, M+
Dow Jones: 42,171.66 pts (-44.14pts, -0.10%)
⬆️ Resistance: 43600
⬇️ Support: 41300
FBM KLCI: 1,501.44 pts (-10.51pts, -0.70%)
⬆️ Resistance: 1560
⬇️ Support: 1480
HSI Index: 23,237.74 pts (-472.95pts, -1.99%)
⬆️ Resistance: 24700
⬇️ Support: 22800
Crude Palm Oil: RM4,104 (+RM39, +0.95%)
⬆️ Resistance: 4220
⬇️ Support: 3770
Brent Oil: $78.85 (+$2.15, +2.80%)
⬆️ Resistance: 80.70
⬇️ Support: 69.10
Gold: $3,370.90 (-$5.75, -0.17%)
⬆️ Resistance: 3530
⬇️ Support: 3290
Source: Bloomberg, M+
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