M+ Global Market Wrap - 14Jul25
FBM KLCI: 1,537.51 pts (+1.44pts, +0.09%)
Bucking Wall Street’s negative lead, with new blanket tariffs on the table, Bursa’s key index still managed to eke out marginal gains, as buying interest was seen across Banking heavyweights. However, market breadth was negative, with losers outpacing gainers at 514-to-432 stocks. On the broader market, Energy (+1.32%) outperformed, with DIALOG (+3.0 sen) and DAYANG (+6.0 sen) leading the pack while Utilities (-0.29%) declined the most.
Top 3 Active stocks:
"
NEXG (5216): RM0.470 (+2.0 sen)"
ZETRIX (0138): RM0.985 (-1.5 sen)
TANCO (2429): RM0.905 (unch)
Volume: 2.93 bn (100-bar avg vol: 3.04 bn)
Value: RM1.67 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️432⬇️514
Crude palm oil: RM4,229 (+RM55)
Dow Futures: 44,438 pts (-161 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,537.51 pts (+1.44pts, +0.09%)
Bucking Wall Street’s negative lead, with new blanket tariffs on the table, Bursa’s key index still managed to eke out marginal gains, as buying interest was seen across Banking heavyweights. However, market breadth was negative, with losers outpacing gainers at 514-to-432 stocks. On the broader market, Energy (+1.32%) outperformed, with DIALOG (+3.0 sen) and DAYANG (+6.0 sen) leading the pack while Utilities (-0.29%) declined the most.
Top 3 Active stocks:
"
NEXG (5216): RM0.470 (+2.0 sen)"
ZETRIX (0138): RM0.985 (-1.5 sen)
TANCO (2429): RM0.905 (unch)
Volume: 2.93 bn (100-bar avg vol: 3.04 bn)
Value: RM1.67 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️432⬇️514
Crude palm oil: RM4,229 (+RM55)
Dow Futures: 44,438 pts (-161 pts)
**Source: M+ Global, Bloomberg **
👏3
M+ Morning Market Buzz - 15Jul25
Dow Jones: 44,459.65 pts (+88.14pts, +0.20%)
⬆️ Resistance: 45700
⬇️ Support: 43400
FBM KLCI: 1,537.51 pts (+1.44pts, +0.09%)
⬆️ Resistance: 1580
⬇️ Support: 1500
HSI Index: 24,203.32 pts (+63.75pts, +0.26%)
⬆️ Resistance: 25000
⬇️ Support: 23400
Crude Palm Oil: RM4,230 (-RM2, -0.05%)
⬆️ Resistance: 4330
⬇️ Support: 3980
Brent Oil: $69.21 (-$1.15, -1.63%)
⬆️ Resistance: 73.00
⬇️ Support: 67.20
Gold: $3,343.51 (-$1.45, -0.04%)
⬆️ Resistance: 3450
⬇️ Support: 3220
Source: Bloomberg, M+
Dow Jones: 44,459.65 pts (+88.14pts, +0.20%)
⬆️ Resistance: 45700
⬇️ Support: 43400
FBM KLCI: 1,537.51 pts (+1.44pts, +0.09%)
⬆️ Resistance: 1580
⬇️ Support: 1500
HSI Index: 24,203.32 pts (+63.75pts, +0.26%)
⬆️ Resistance: 25000
⬇️ Support: 23400
Crude Palm Oil: RM4,230 (-RM2, -0.05%)
⬆️ Resistance: 4330
⬇️ Support: 3980
Brent Oil: $69.21 (-$1.15, -1.63%)
⬆️ Resistance: 73.00
⬇️ Support: 67.20
Gold: $3,343.51 (-$1.45, -0.04%)
⬆️ Resistance: 3450
⬇️ Support: 3220
Source: Bloomberg, M+
👍3
M+ Global Market Update – 15Jul25
Sentiment Stayed Resilient Despite Tariff Fears
US: Monday’s session saw buying interest in both Wall Street and US Treasuries, despite the recent announcement of blanket tariffs. Although there has been little progress towards de-escalating the trade wars, we believe sentiment may remain positive amid a recovery in dollar index. In terms of stock picks, we favour Estée Lauder Companies (EL) for its strong CapEx in redefining its market presence, while its China market continues to show good progress toward recovery. This week, key economic releases to watch include (i) US inflation data, (ii) retail sales, and (iii) unemployment claims. On the commodities side, both Brent crude and gold retreated to USD68/bbl and USD3,344/oz, while CPO edged higher to RM4,288/MT.
MY: Taking the lead from Wall Street overnight, the local bourse is expected to open on a firmer footing. Despite the ongoing trade war with uncertain US trade policies, we believe it may drive tighter inspection protocols and regulatory compliance, leading to greater demand for security screening machines, we view WENTEL as a proxy to ride this trend. Meanwhile, for a defensive pick, we believe 99SMART will benefit from downtrading as inflationary pressure picks up, coupled with the increase in EPF’s stakes. Also, the long-term outlook for the solar industry remains favourable, supported by the NETR and the recent electricity tariff hike.
Stocks to watch:
Technology: *AGMO*, *EG*, VITROX, *WENTEL*
Consumer: *99SMART*
Solar: *PEKAT*
Property: ECOWLD
Telco: TM
O&G: DAYANG
Plantation: JPG
Source: M+ Global
Sentiment Stayed Resilient Despite Tariff Fears
US: Monday’s session saw buying interest in both Wall Street and US Treasuries, despite the recent announcement of blanket tariffs. Although there has been little progress towards de-escalating the trade wars, we believe sentiment may remain positive amid a recovery in dollar index. In terms of stock picks, we favour Estée Lauder Companies (EL) for its strong CapEx in redefining its market presence, while its China market continues to show good progress toward recovery. This week, key economic releases to watch include (i) US inflation data, (ii) retail sales, and (iii) unemployment claims. On the commodities side, both Brent crude and gold retreated to USD68/bbl and USD3,344/oz, while CPO edged higher to RM4,288/MT.
MY: Taking the lead from Wall Street overnight, the local bourse is expected to open on a firmer footing. Despite the ongoing trade war with uncertain US trade policies, we believe it may drive tighter inspection protocols and regulatory compliance, leading to greater demand for security screening machines, we view WENTEL as a proxy to ride this trend. Meanwhile, for a defensive pick, we believe 99SMART will benefit from downtrading as inflationary pressure picks up, coupled with the increase in EPF’s stakes. Also, the long-term outlook for the solar industry remains favourable, supported by the NETR and the recent electricity tariff hike.
Stocks to watch:
Technology: *AGMO*, *EG*, VITROX, *WENTEL*
Consumer: *99SMART*
Solar: *PEKAT*
Property: ECOWLD
Telco: TM
O&G: DAYANG
Plantation: JPG
Source: M+ Global
Good Morning All,
We issued a technical buy call on Wentel Engineering Holdings Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Another tariffs up the sleeve
(ii) To unlock more demand for security screening segment
(iii) Strong backlog order growth
Research Team, M+
15 Julty 2025
We issued a technical buy call on Wentel Engineering Holdings Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Another tariffs up the sleeve
(ii) To unlock more demand for security screening segment
(iii) Strong backlog order growth
Research Team, M+
15 Julty 2025
Good Morning All,
We issued a technical buy call on Agmo Holdings Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Record high revenue and profit
(ii) AI opportunities through DTaaS and Microsoft partner
(iii) Benefitting from e-Invoicing
Research Team, M+
15 July 2025
We issued a technical buy call on Agmo Holdings Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Record high revenue and profit
(ii) AI opportunities through DTaaS and Microsoft partner
(iii) Benefitting from e-Invoicing
Research Team, M+
15 July 2025
M+ Global Market Wrap - 15Jul25
FBM KLCI: 1,525.40 pts (-12.11pts, -0.79%)
Despite the positive closing in the US, Asian markets traded broadly mixed ahead of the US CPI data announcement tonight, with the FBMKLCI (-0.79%) closing lower at 1,525.40 pts. The key index was dragged by banking heavyweights, including PBBANK (-8.0 sen) and MAYBANK (-7.0 sen), as a lower OPR may lead to NIM compression for banks. Meanwhile, market breadth also remained negative, with 601 losers against 412 winners. In the broader environment, all sectors ended in negative territory except REITs (+0.77%), which are expected to benefit from a lower OPR and also their defensive nature.
Top 3 Active stocks:
ZETRIX (0138): RM0.930 (-5.5 sen)
NATGATE (0270): RM1.490 (-12.0 sen)
"
NEXG (5216): RM0.475 (+0.5 sen)"
Volume: 3.07 bn (100-bar avg vol: 3.04 bn)
Value: RM2.36 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️412⬇️601
Crude palm oil: RM4,157 (-RM73)
Dow Futures: 44,626 pts (-66 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,525.40 pts (-12.11pts, -0.79%)
Despite the positive closing in the US, Asian markets traded broadly mixed ahead of the US CPI data announcement tonight, with the FBMKLCI (-0.79%) closing lower at 1,525.40 pts. The key index was dragged by banking heavyweights, including PBBANK (-8.0 sen) and MAYBANK (-7.0 sen), as a lower OPR may lead to NIM compression for banks. Meanwhile, market breadth also remained negative, with 601 losers against 412 winners. In the broader environment, all sectors ended in negative territory except REITs (+0.77%), which are expected to benefit from a lower OPR and also their defensive nature.
Top 3 Active stocks:
ZETRIX (0138): RM0.930 (-5.5 sen)
NATGATE (0270): RM1.490 (-12.0 sen)
"
NEXG (5216): RM0.475 (+0.5 sen)"
Volume: 3.07 bn (100-bar avg vol: 3.04 bn)
Value: RM2.36 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️412⬇️601
Crude palm oil: RM4,157 (-RM73)
Dow Futures: 44,626 pts (-66 pts)
**Source: M+ Global, Bloomberg **
👍2
M+ Morning Market Buzz - 16Jul25
Dow Jones: 44,023.29 pts (-436.36pts, -0.98%)
⬆️ Resistance: 45700
⬇️ Support: 43200
FBM KLCI: 1,525.40 pts (-12.11pts, -0.79%)
⬆️ Resistance: 1580
⬇️ Support: 1500
HSI Index: 24,590.12 pts (+386.80pts, +1.60%)
⬆️ Resistance: 25100
⬇️ Support: 23400
Crude Palm Oil: RM4,163 (+RM42, +1.01%)
⬆️ Resistance: 4330
⬇️ Support: 4050
Brent Oil: $68.71 (-$0.50, -0.72%)
⬆️ Resistance: 73.00
⬇️ Support: 67.20
Gold: $3,324.55 (+$1.90, +0.06%)
⬆️ Resistance: 3450
⬇️ Support: 3220
Source: Bloomberg, M+
Dow Jones: 44,023.29 pts (-436.36pts, -0.98%)
⬆️ Resistance: 45700
⬇️ Support: 43200
FBM KLCI: 1,525.40 pts (-12.11pts, -0.79%)
⬆️ Resistance: 1580
⬇️ Support: 1500
HSI Index: 24,590.12 pts (+386.80pts, +1.60%)
⬆️ Resistance: 25100
⬇️ Support: 23400
Crude Palm Oil: RM4,163 (+RM42, +1.01%)
⬆️ Resistance: 4330
⬇️ Support: 4050
Brent Oil: $68.71 (-$0.50, -0.72%)
⬆️ Resistance: 73.00
⬇️ Support: 67.20
Gold: $3,324.55 (+$1.90, +0.06%)
⬆️ Resistance: 3450
⬇️ Support: 3220
Source: Bloomberg, M+
👍2
M+ Global Market Update – 16Jul25
Risk-Off Sentiment as Inflation Rises
US: With the recent announcement of blanket tariffs by President Trump, Tuesday’s session saw selling pressure on Wall Street, as stronger-than-anticipated inflation data at 2.7% (Jun: 2.4%) fuelled concerns that the Fed may keep the interest rates elevated. However, sentiment may favour the semiconductor-related sectors following the resumption of chip sales to China, coupled with the recovery in the dollar index. Meanwhile, we favour SOFI as it is poised to be an anchor in the next era of digital banking, given its strong user growth and rapid product expansion. In the commodities market, both Brent Crude and Gold retreated toward USD68/bbl and USD 3,326/oz while CPO prices remained stable above RM4,200/MT.
MY: Following Wall Street’s downbeat performance, the local bourse could start on a weaker tone. However, we believe the overall situation may favour the technology stocks with the resumption of chip sales in China and the technology sector on the local front may see decent buying interest. Meanwhile, WENTEL could benefit from uncertain US trade policies, which may translate to greater demand for the security screening industry. On a more defensive note, we like the REIT sector on the back of the recent OPR cuts by BNM, while the Consumer sector may benefit from downtrading activities as inflationary pressures remain sticky.
Stocks to watch:
Technology: ADB, *KGB*, *MI*, RAMSSOL
Utility: MNHLDG, *PEKAT*, *SCGBHD*
REIT: IGBREIT, SUNREIT
Consumer: *99SMART*
Construction: GDB
Source: M+ Global
Risk-Off Sentiment as Inflation Rises
US: With the recent announcement of blanket tariffs by President Trump, Tuesday’s session saw selling pressure on Wall Street, as stronger-than-anticipated inflation data at 2.7% (Jun: 2.4%) fuelled concerns that the Fed may keep the interest rates elevated. However, sentiment may favour the semiconductor-related sectors following the resumption of chip sales to China, coupled with the recovery in the dollar index. Meanwhile, we favour SOFI as it is poised to be an anchor in the next era of digital banking, given its strong user growth and rapid product expansion. In the commodities market, both Brent Crude and Gold retreated toward USD68/bbl and USD 3,326/oz while CPO prices remained stable above RM4,200/MT.
MY: Following Wall Street’s downbeat performance, the local bourse could start on a weaker tone. However, we believe the overall situation may favour the technology stocks with the resumption of chip sales in China and the technology sector on the local front may see decent buying interest. Meanwhile, WENTEL could benefit from uncertain US trade policies, which may translate to greater demand for the security screening industry. On a more defensive note, we like the REIT sector on the back of the recent OPR cuts by BNM, while the Consumer sector may benefit from downtrading activities as inflationary pressures remain sticky.
Stocks to watch:
Technology: ADB, *KGB*, *MI*, RAMSSOL
Utility: MNHLDG, *PEKAT*, *SCGBHD*
REIT: IGBREIT, SUNREIT
Consumer: *99SMART*
Construction: GDB
Source: M+ Global
M+ Global Market Wrap - 16Jul25
FBM KLCI: 1,511.50 pts (-13.90pts, -0.91%)
Following Wall Street’s downbeat overnight performance, the local bourse ended Wednesday’s session on a negative note, dragged by losses in Banking heavyweights. Market breadth was negative, with losers outpacing gainers by 727-to-335 stocks, while trading volume hovered around three-month averages. All sectors traded in the red, with heavy selling pressure seen in Health Care (-2.49%) stocks.
Top 3 Active stocks:
NEXG (5216): RM0.485 (+1.0 sen)
ZETRIX (0138): RM0.950 (+2.0 sen)
TWL (7079): RM0.030 (+0.5 sen)
Volume: 3.18 bn (100-bar avg vol: 3.04 bn)
Value: RM2.44 bn (100-bar avg val: RM2.42 bn)
Market Breadth: ⬆️335⬇️727
Crude palm oil: RM4,206 (+RM43)
Dow Futures: 44,261 pts (+14 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,511.50 pts (-13.90pts, -0.91%)
Following Wall Street’s downbeat overnight performance, the local bourse ended Wednesday’s session on a negative note, dragged by losses in Banking heavyweights. Market breadth was negative, with losers outpacing gainers by 727-to-335 stocks, while trading volume hovered around three-month averages. All sectors traded in the red, with heavy selling pressure seen in Health Care (-2.49%) stocks.
Top 3 Active stocks:
NEXG (5216): RM0.485 (+1.0 sen)
ZETRIX (0138): RM0.950 (+2.0 sen)
TWL (7079): RM0.030 (+0.5 sen)
Volume: 3.18 bn (100-bar avg vol: 3.04 bn)
Value: RM2.44 bn (100-bar avg val: RM2.42 bn)
Market Breadth: ⬆️335⬇️727
Crude palm oil: RM4,206 (+RM43)
Dow Futures: 44,261 pts (+14 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 17Jul25
Dow Jones: 44,254.78 pts (+231.49pts, +0.53%)
⬆️ Resistance: 45700
⬇️ Support: 42900
FBM KLCI: 1,511.50 pts (-13.90pts, -0.91%)
⬆️ Resistance: 1580
⬇️ Support: 1480
HSI Index: 24,517.76 pts (-72.36pts, -0.29%)
⬆️ Resistance: 25400
⬇️ Support: 23400
Crude Palm Oil: RM4,224 (-RM6, -0.14%)
⬆️ Resistance: 4330
⬇️ Support: 4050
Brent Oil: $68.52 (-$0.19, -0.28%)
⬆️ Resistance: 73.00
⬇️ Support: 66.40
Gold: $3,347.13 (+$4.64, +0.10%)
⬆️ Resistance: 3450
⬇️ Support: 3250
Source: Bloomberg, M+
Dow Jones: 44,254.78 pts (+231.49pts, +0.53%)
⬆️ Resistance: 45700
⬇️ Support: 42900
FBM KLCI: 1,511.50 pts (-13.90pts, -0.91%)
⬆️ Resistance: 1580
⬇️ Support: 1480
HSI Index: 24,517.76 pts (-72.36pts, -0.29%)
⬆️ Resistance: 25400
⬇️ Support: 23400
Crude Palm Oil: RM4,224 (-RM6, -0.14%)
⬆️ Resistance: 4330
⬇️ Support: 4050
Brent Oil: $68.52 (-$0.19, -0.28%)
⬆️ Resistance: 73.00
⬇️ Support: 66.40
Gold: $3,347.13 (+$4.64, +0.10%)
⬆️ Resistance: 3450
⬇️ Support: 3250
Source: Bloomberg, M+
M+ Global Market Update – 17Jul25
The US Market Continues To Be Elevated
US: Following the recent announcement dismissing rumours of the firing of Jerome Powell, Wednesday’s session saw buying interest gradually recover on Wall Street, shrugging off hotter-than-anticipated inflation numbers and uncertain trade policies. We continue to favour AMD, given the positive developments on China exports as well as encouraging guidance on the MI350 and MI400, which we believe should start to materialise in the upcoming quarters. Hence, we expect the market to stay elevated at least for the near term. In the commodities market, Brent Crude and CPO retreated to USD67/bbl and RM4,218/MT respectively, while Gold remained stable at USD3,350/oz.
MY: Taking the lead from Wall Street’s overnight performance, buying interest may emerge on the local bourse. We also like selected Technology stocks, following the positive developments in global chip export policies. Meanwhile, the utility segment will remain favourable amid Tenaga’s CapEx rollout for grid-upgrading work; we like KJTS, MNHLDG and SCGBHD. For a more defensive approach and in light of BNM’s recent OPR cut, we continue to favour REITs, as their dividend yields offer an attractive premium against government bonds.
Stocks to watch:
Technology: *ADB*, FRONTKN, KGB, *MI*
Utility: *KJTS*, MALAKOF, MNHLDG
Plantation: *INNO*, JTIASA
Finance: *OSK*
O&G: KEYFIELD
Source: M+ Global
The US Market Continues To Be Elevated
US: Following the recent announcement dismissing rumours of the firing of Jerome Powell, Wednesday’s session saw buying interest gradually recover on Wall Street, shrugging off hotter-than-anticipated inflation numbers and uncertain trade policies. We continue to favour AMD, given the positive developments on China exports as well as encouraging guidance on the MI350 and MI400, which we believe should start to materialise in the upcoming quarters. Hence, we expect the market to stay elevated at least for the near term. In the commodities market, Brent Crude and CPO retreated to USD67/bbl and RM4,218/MT respectively, while Gold remained stable at USD3,350/oz.
MY: Taking the lead from Wall Street’s overnight performance, buying interest may emerge on the local bourse. We also like selected Technology stocks, following the positive developments in global chip export policies. Meanwhile, the utility segment will remain favourable amid Tenaga’s CapEx rollout for grid-upgrading work; we like KJTS, MNHLDG and SCGBHD. For a more defensive approach and in light of BNM’s recent OPR cut, we continue to favour REITs, as their dividend yields offer an attractive premium against government bonds.
Stocks to watch:
Technology: *ADB*, FRONTKN, KGB, *MI*
Utility: *KJTS*, MALAKOF, MNHLDG
Plantation: *INNO*, JTIASA
Finance: *OSK*
O&G: KEYFIELD
Source: M+ Global
👍3
M+ Global Market Wrap - 17Jul25
FBM KLCI: 1,519.42 pts (+7.92pts, +0.52%)
Tracking Wall Street’s upbeat performance, Thursday’s session saw the local bourse close on a firmer footing as buying interest was seen within Industrial Products & Services heavyweights. Market breadth tilted positively, with gainers outpacing losers at 547-to-416. On the broader market, Construction (+1.44%) stocks outperformed, with GAMUDA (+12.0 sen) and IJM (+3.0 sen) leading the pack, while Health Care (-0.23%) declined the most.
Top 3 Active stocks:
ICENTS (0366): RM0.340 (+10.0 sen)
ZETRIX (0138): RM0.935 (-1.5 sen)
NEXG (5216): RM0.490 (+0.5 sen)
Volume: 3.17 bn (100-bar avg vol: 3.04 bn)
Value: RM2.48 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️547⬇️416
Crude palm oil: RM4,215 (-RM9)
Dow Futures: 44,416 pts (-43 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,519.42 pts (+7.92pts, +0.52%)
Tracking Wall Street’s upbeat performance, Thursday’s session saw the local bourse close on a firmer footing as buying interest was seen within Industrial Products & Services heavyweights. Market breadth tilted positively, with gainers outpacing losers at 547-to-416. On the broader market, Construction (+1.44%) stocks outperformed, with GAMUDA (+12.0 sen) and IJM (+3.0 sen) leading the pack, while Health Care (-0.23%) declined the most.
Top 3 Active stocks:
ICENTS (0366): RM0.340 (+10.0 sen)
ZETRIX (0138): RM0.935 (-1.5 sen)
NEXG (5216): RM0.490 (+0.5 sen)
Volume: 3.17 bn (100-bar avg vol: 3.04 bn)
Value: RM2.48 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️547⬇️416
Crude palm oil: RM4,215 (-RM9)
Dow Futures: 44,416 pts (-43 pts)
**Source: M+ Global, Bloomberg **
🥰2
M+ Global Market Update – 18Jul25
Sentiment Remains Resilient
US: Thursday’s session saw Wall Street continue to recover after stronger-than-anticipated economic data, coupled with the dismissal of firing Jerome Powell. Given TSMC’s robust quarterly results, which reflect resilient global chips spending despite stringent policies, we maintain our positive stance on AMD, given its recent positive development on China exports as well as encouraging guidance on its newly launched MI350 and MI400 chips. In the commodities market, Brent Crude and CPO charge higher towards USD68/bbl and RM4,292/MT while Gold remained stable at USD3,342/oz.
MY: Taking a cue from Wall Street’s upbeat performance, the local bourse is set to open higher. Also, we believe TSMC’s stronger-than-expected quarterly results should have a spillover effect on local Technology players, particularly in E&E and EMS, compounded with the recent development on resumption of chip sales to China. We also expect the ongoing developments in the data center theme, coupled with Tenaga’s CapEx rollout for grid-upgrading works should boost the interest on Gamuda, MNHLDG, UUE and SCGBHD. REITs are also favourable with its decent yield and defensive nature of its business.
Stocks to watch:
Technology: AGMO, *MI*, NE, PENTA
Construction: CHB, *GAMUDA*, *HEGROUP*
Utility: *JTGROUP*, UUE
Property: *ECOWLD*, SIMEPROP
Telco: TIMECOM
Finance: OSK
Source: M+ Global
Sentiment Remains Resilient
US: Thursday’s session saw Wall Street continue to recover after stronger-than-anticipated economic data, coupled with the dismissal of firing Jerome Powell. Given TSMC’s robust quarterly results, which reflect resilient global chips spending despite stringent policies, we maintain our positive stance on AMD, given its recent positive development on China exports as well as encouraging guidance on its newly launched MI350 and MI400 chips. In the commodities market, Brent Crude and CPO charge higher towards USD68/bbl and RM4,292/MT while Gold remained stable at USD3,342/oz.
MY: Taking a cue from Wall Street’s upbeat performance, the local bourse is set to open higher. Also, we believe TSMC’s stronger-than-expected quarterly results should have a spillover effect on local Technology players, particularly in E&E and EMS, compounded with the recent development on resumption of chip sales to China. We also expect the ongoing developments in the data center theme, coupled with Tenaga’s CapEx rollout for grid-upgrading works should boost the interest on Gamuda, MNHLDG, UUE and SCGBHD. REITs are also favourable with its decent yield and defensive nature of its business.
Stocks to watch:
Technology: AGMO, *MI*, NE, PENTA
Construction: CHB, *GAMUDA*, *HEGROUP*
Utility: *JTGROUP*, UUE
Property: *ECOWLD*, SIMEPROP
Telco: TIMECOM
Finance: OSK
Source: M+ Global
M+ Global Market Wrap - 18Jul25
FBM KLCI: 1,520.94 pts (+9.44pts, +0.62%)
Taking a cue from Wall Street’s positive lead, Friday’s session saw the local bourse continue to recover from the week’s low with resilient buying interest within Construction heavyweights; the latter due to robust project pipelines within the sector. Market breadth was positive, with gainers outpacing losers at a 2-to-1 ratio, while total traded volume stood at norms. GAMUDA (+18.0 sen) and IJM (+19.0 sen) gains spurred buying interest within Construction (+3.43%), while Consumer Products & Services (-0.41%) declined the most.
Top 3 Active stocks:
"
ENPRO (0367): RM0.265 (+2.5 sen)"
NEXG (5216): RM0.495 (+0.5 sen)
ZETRIX (0138): RM0.945 (+1.0 sen)
Volume: 3.17 bn (100-bar avg vol: 3.04 bn)
Value: RM2.48 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️621⬇️393
Crude palm oil: RM4,224 (+RM14)
Dow Futures: 44,679 pts (+220 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,520.94 pts (+9.44pts, +0.62%)
Taking a cue from Wall Street’s positive lead, Friday’s session saw the local bourse continue to recover from the week’s low with resilient buying interest within Construction heavyweights; the latter due to robust project pipelines within the sector. Market breadth was positive, with gainers outpacing losers at a 2-to-1 ratio, while total traded volume stood at norms. GAMUDA (+18.0 sen) and IJM (+19.0 sen) gains spurred buying interest within Construction (+3.43%), while Consumer Products & Services (-0.41%) declined the most.
Top 3 Active stocks:
"
ENPRO (0367): RM0.265 (+2.5 sen)"
NEXG (5216): RM0.495 (+0.5 sen)
ZETRIX (0138): RM0.945 (+1.0 sen)
Volume: 3.17 bn (100-bar avg vol: 3.04 bn)
Value: RM2.48 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️621⬇️393
Crude palm oil: RM4,224 (+RM14)
Dow Futures: 44,679 pts (+220 pts)
**Source: M+ Global, Bloomberg **
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M+ Morning Market Buzz - 21Jul25
Dow Jones: 44,342.19 pts (-142.30pts, -0.32%)
⬆️ Resistance: 45500
⬇️ Support: 42900
FBM KLCI: 1,525.86 pts (+4.92pts, +0.32%)
⬆️ Resistance: 1570
⬇️ Support: 1480
HSI Index: 24,825.66 pts (+326.71pts, +1.33%)
⬆️ Resistance: 25400
⬇️ Support: 23700
Crude Palm Oil: RM4,315 (+RM105, +2.49%)
⬆️ Resistance: 4450
⬇️ Support: 4050
Brent Oil: $69.28 (+$0.14, +0.20%)
⬆️ Resistance: 73.00
⬇️ Support: 66.40
Gold: $3,349.94 (-$3.88, -0.12%)
⬆️ Resistance: 3450
⬇️ Support: 3250
Source: Bloomberg, M+
Dow Jones: 44,342.19 pts (-142.30pts, -0.32%)
⬆️ Resistance: 45500
⬇️ Support: 42900
FBM KLCI: 1,525.86 pts (+4.92pts, +0.32%)
⬆️ Resistance: 1570
⬇️ Support: 1480
HSI Index: 24,825.66 pts (+326.71pts, +1.33%)
⬆️ Resistance: 25400
⬇️ Support: 23700
Crude Palm Oil: RM4,315 (+RM105, +2.49%)
⬆️ Resistance: 4450
⬇️ Support: 4050
Brent Oil: $69.28 (+$0.14, +0.20%)
⬆️ Resistance: 73.00
⬇️ Support: 66.40
Gold: $3,349.94 (-$3.88, -0.12%)
⬆️ Resistance: 3450
⬇️ Support: 3250
Source: Bloomberg, M+
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M+ Global Market Update – 21Jul25
Tariff and Fed Fears Persisted
US: Wall Street ended mixed last Friday as investors digested strong consumer sentiment with ongoing uncertain trade tensions. President Trump is considering 15–20% tariffs on EU imports, above the 10% rate that the bloc is hoping for, signalling stalled negotiations ahead of the August 1 deadline. President Trump also signed the first federal law regulating stablecoins, marking a major win for the crypto industry, benefiting companies like Coinbase and Robinhood. Meanwhile, the University of Michigan’s sentiment index rose to 61.8, beating expectations of 61.5, as one-year inflation forecasts eased. Given these setups, we expect Wall Street to have limited upside in the near to mid term.
MY: Malaysia recorded GDP growth of 4.5% YoY in 2Q25, beating Bloomberg’s median forecast of 4.2%, driven by strength in the services sector. However, growth momentum may moderate in 2H25 amid Trump’s tariff headwinds and the SST expansion. Nevertheless, we continue to favour the Construction and Utilities sectors, supported by the ongoing data centre investment boom and infrastructure developments. The recent OPR cut also bodes well for the REITs sector, where we have initiated coverage on IGBCR (M+ Global TP: RM0.70). Investors may also consider NORTHERN, which could benefit from LSS projects and CRESS.
Stocks to watch:
Technology: AGMO, MI, NE, PENTA, *FRONTKEN*
Construction: CHB, GAMUDA, HEGROUP, *IJM*
Solar: *NORTHERN*
Utility: JTGROUP, UUE
Property: ECOWLD, SIMEPROP, *E&O*
Telco: TIMECOM
Finance: OSK
Source: M+ Global
Tariff and Fed Fears Persisted
US: Wall Street ended mixed last Friday as investors digested strong consumer sentiment with ongoing uncertain trade tensions. President Trump is considering 15–20% tariffs on EU imports, above the 10% rate that the bloc is hoping for, signalling stalled negotiations ahead of the August 1 deadline. President Trump also signed the first federal law regulating stablecoins, marking a major win for the crypto industry, benefiting companies like Coinbase and Robinhood. Meanwhile, the University of Michigan’s sentiment index rose to 61.8, beating expectations of 61.5, as one-year inflation forecasts eased. Given these setups, we expect Wall Street to have limited upside in the near to mid term.
MY: Malaysia recorded GDP growth of 4.5% YoY in 2Q25, beating Bloomberg’s median forecast of 4.2%, driven by strength in the services sector. However, growth momentum may moderate in 2H25 amid Trump’s tariff headwinds and the SST expansion. Nevertheless, we continue to favour the Construction and Utilities sectors, supported by the ongoing data centre investment boom and infrastructure developments. The recent OPR cut also bodes well for the REITs sector, where we have initiated coverage on IGBCR (M+ Global TP: RM0.70). Investors may also consider NORTHERN, which could benefit from LSS projects and CRESS.
Stocks to watch:
Technology: AGMO, MI, NE, PENTA, *FRONTKEN*
Construction: CHB, GAMUDA, HEGROUP, *IJM*
Solar: *NORTHERN*
Utility: JTGROUP, UUE
Property: ECOWLD, SIMEPROP, *E&O*
Telco: TIMECOM
Finance: OSK
Source: M+ Global
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M+ Global Market Wrap - 21Jul25
FBM KLCI: 1,524.59 pts (-1.27pts, -0.08%)
Taking cue from Wall Street’s weaker performance last Friday, the FBMKLCI (-0.08%) closed slightly lower at 1,524.59 pts, dragged by key heavyweights such as SUNWAY (-17.0 sen) and HLBANK (-28.0 sen). Both SUNWAY and SUNCON (-49.0 sen) posted heavy losses following MACC’s investigation into SUNCON over an alleged bribery case linked to a data centre project in Johor. Market breadth turned negative, with 607 losers against 342 winners. On the sectoral front, REITs (+0.51%) outperformed, driven by gains in IGBREIT (+10.0 sen) and PAVREIT (+3.0 sen), while Construction (-1.32%) underperformed amid SUNCON’s fallout and profit-taking activities.
Top 3 Active stocks:
"
SUNCON (5263): RM5.49 (-49.0 sen)"
NEXG (5216): RM0.505 (+1.0 sen)
PHARMA (7081): RM0.220 (+6.5 sen)
Volume: 3.50 bn (100-bar avg vol: 3.04 bn)
Value: RM2.68 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️342⬇️607
Crude palm oil: RM4,209 (-RM106)
Dow Futures: 44,677 pts (+137 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,524.59 pts (-1.27pts, -0.08%)
Taking cue from Wall Street’s weaker performance last Friday, the FBMKLCI (-0.08%) closed slightly lower at 1,524.59 pts, dragged by key heavyweights such as SUNWAY (-17.0 sen) and HLBANK (-28.0 sen). Both SUNWAY and SUNCON (-49.0 sen) posted heavy losses following MACC’s investigation into SUNCON over an alleged bribery case linked to a data centre project in Johor. Market breadth turned negative, with 607 losers against 342 winners. On the sectoral front, REITs (+0.51%) outperformed, driven by gains in IGBREIT (+10.0 sen) and PAVREIT (+3.0 sen), while Construction (-1.32%) underperformed amid SUNCON’s fallout and profit-taking activities.
Top 3 Active stocks:
"
SUNCON (5263): RM5.49 (-49.0 sen)"
NEXG (5216): RM0.505 (+1.0 sen)
PHARMA (7081): RM0.220 (+6.5 sen)
Volume: 3.50 bn (100-bar avg vol: 3.04 bn)
Value: RM2.68 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️342⬇️607
Crude palm oil: RM4,209 (-RM106)
Dow Futures: 44,677 pts (+137 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 22Jul25
Dow Jones: 44,323.07 pts (-19.12pts, -0.04%)
⬆️ Resistance: 45500
⬇️ Support: 42900
FBM KLCI: 1,524.59 pts (-1.27pts, -0.08%)
⬆️ Resistance: 1570
⬇️ Support: 1480
HSI Index: 24,994.14 pts (+168.48pts, +0.68%)
⬆️ Resistance: 25600
⬇️ Support: 23700
Crude Palm Oil: RM4,225 (+RM14, +0.33%)
⬆️ Resistance: 4450
⬇️ Support: 4050
Brent Oil: $69.21 (-$0.07, -0.10%)
⬆️ Resistance: 72.20
⬇️ Support: 66.40
Gold: $3,397.05 (+$3.59, +0.11%)
⬆️ Resistance: 3470
⬇️ Support: 3250
Source: Bloomberg, M+
Dow Jones: 44,323.07 pts (-19.12pts, -0.04%)
⬆️ Resistance: 45500
⬇️ Support: 42900
FBM KLCI: 1,524.59 pts (-1.27pts, -0.08%)
⬆️ Resistance: 1570
⬇️ Support: 1480
HSI Index: 24,994.14 pts (+168.48pts, +0.68%)
⬆️ Resistance: 25600
⬇️ Support: 23700
Crude Palm Oil: RM4,225 (+RM14, +0.33%)
⬆️ Resistance: 4450
⬇️ Support: 4050
Brent Oil: $69.21 (-$0.07, -0.10%)
⬆️ Resistance: 72.20
⬇️ Support: 66.40
Gold: $3,397.05 (+$3.59, +0.11%)
⬆️ Resistance: 3470
⬇️ Support: 3250
Source: Bloomberg, M+
M+ Global Market Update – 22Jul25
Countdown To Mega Tech Earnings
US: S&P 500 closed above 6,300 pts for the first time, and sentiment remains positive ahead of key earnings from Tesla and Alphabet this week. Nevertheless, investors remained cautious amid looming 15–20% US tariffs on EU imports. While strong bank results have supported optimism, attention has now shifted to how trade tensions may impact full-year guidance. Investors will be keeping an eye on Fed Chair Jerome Powell's speech later today. In the commodities market, Brent crude continued to trade at USD69/bbl, while gold edged higher to USD3,397/oz. Lastly, CPO traded at RM4,225/MT.
MY: Despite the MACC’s investigation into a RM180m data centre project in Johor, we view this as a buy-on-dip opportunity for SUNCON, SUNWAY, and other data centre-related counters, supported by their strong fundamentals, solid order book providing 2–3 years of earnings visibility, and the ongoing data centre boom in the country. Investors may also consider Sarawak-based construction players like CMSB and IBRACO, supported by the state’s infrastructure development. Lastly, the government’s delay in implementing targeted RON95 subsidies should bode well for the consumer sector, with MRDIY and 99SMART as our top picks.
Stocks to watch:
Technology: *ADB*, *MI*
Building Material: *CMSB*, PMETAL
REIT: IGBREIT, PAVREIT
Construction: *KIMLUN*
Consumer: *MFLOUR*
Telco: TIMECOM
Plantation: INNO
O&G: KEYFIELD
Finance: ABMB
Source: M+ Global
Countdown To Mega Tech Earnings
US: S&P 500 closed above 6,300 pts for the first time, and sentiment remains positive ahead of key earnings from Tesla and Alphabet this week. Nevertheless, investors remained cautious amid looming 15–20% US tariffs on EU imports. While strong bank results have supported optimism, attention has now shifted to how trade tensions may impact full-year guidance. Investors will be keeping an eye on Fed Chair Jerome Powell's speech later today. In the commodities market, Brent crude continued to trade at USD69/bbl, while gold edged higher to USD3,397/oz. Lastly, CPO traded at RM4,225/MT.
MY: Despite the MACC’s investigation into a RM180m data centre project in Johor, we view this as a buy-on-dip opportunity for SUNCON, SUNWAY, and other data centre-related counters, supported by their strong fundamentals, solid order book providing 2–3 years of earnings visibility, and the ongoing data centre boom in the country. Investors may also consider Sarawak-based construction players like CMSB and IBRACO, supported by the state’s infrastructure development. Lastly, the government’s delay in implementing targeted RON95 subsidies should bode well for the consumer sector, with MRDIY and 99SMART as our top picks.
Stocks to watch:
Technology: *ADB*, *MI*
Building Material: *CMSB*, PMETAL
REIT: IGBREIT, PAVREIT
Construction: *KIMLUN*
Consumer: *MFLOUR*
Telco: TIMECOM
Plantation: INNO
O&G: KEYFIELD
Finance: ABMB
Source: M+ Global
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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) MACC investigation
(ii) SUNCON’s fundamental remains intact
(iii) Buy-on-dip opportunity
Research Team, M+
22 July 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) MACC investigation
(ii) SUNCON’s fundamental remains intact
(iii) Buy-on-dip opportunity
Research Team, M+
22 July 2025