M+ Global Market Wrap - 22Jul25
FBM KLCI: 1,519.40 pts (-5.19pts, -0.34%)
The FBMKLCI (-0.34%) extended its losses for a second consecutive day, closing lower at 1,519.40 pts, dragged by declines in PMETAL (-10.0 sen) and YTLPOWR (-7.0 sen). According to DOSM, Malaysia’s CPI rose 1.1% YoY in June 2025, slightly below May’s 1.2% and Bloomberg’s median forecast of 1.2%. The moderation was mainly attributed to a 0.4% YoY decline in the food-at-home category. Market breadth remained negative, with 591 losers outpacing 412 gainers. Sector-wise, Consumer Products & Services (+0.28%) outperformed, supported by gains in MRDIY (+3.0 sen) and 99SMART (+3.0 sen), while Construction (-1.32%) continued to see profit-taking amid SUNCON’s ongoing MACC investigation.
Top 3 Active stocks:
"
ZETRIX (0138): RM0.925 (-1.0 sen)"
TANCO (2429): RM0.910 (+0.5 sen)
NEXG (5216): RM0.505 (unch)
Volume: 2.82 bn (100-bar avg vol: 3.04 bn)
Value: RM2.05 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️412⬇️591
Crude palm oil: RM4,238 (+RM13)
Dow Futures: 44,556 pts (+9 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,519.40 pts (-5.19pts, -0.34%)
The FBMKLCI (-0.34%) extended its losses for a second consecutive day, closing lower at 1,519.40 pts, dragged by declines in PMETAL (-10.0 sen) and YTLPOWR (-7.0 sen). According to DOSM, Malaysia’s CPI rose 1.1% YoY in June 2025, slightly below May’s 1.2% and Bloomberg’s median forecast of 1.2%. The moderation was mainly attributed to a 0.4% YoY decline in the food-at-home category. Market breadth remained negative, with 591 losers outpacing 412 gainers. Sector-wise, Consumer Products & Services (+0.28%) outperformed, supported by gains in MRDIY (+3.0 sen) and 99SMART (+3.0 sen), while Construction (-1.32%) continued to see profit-taking amid SUNCON’s ongoing MACC investigation.
Top 3 Active stocks:
"
ZETRIX (0138): RM0.925 (-1.0 sen)"
TANCO (2429): RM0.910 (+0.5 sen)
NEXG (5216): RM0.505 (unch)
Volume: 2.82 bn (100-bar avg vol: 3.04 bn)
Value: RM2.05 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️412⬇️591
Crude palm oil: RM4,238 (+RM13)
Dow Futures: 44,556 pts (+9 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 23Jul25
Dow Jones: 44,502.44 pts (+179.37pts, +0.40%)
⬆️ Resistance: 45500
⬇️ Support: 42900
FBM KLCI: 1,519.40 pts (-5.19pts, -0.34%)
⬆️ Resistance: 1570
⬇️ Support: 1480
HSI Index: 25,130.03 pts (+135.89pts, +0.54%)
⬆️ Resistance: 25700
⬇️ Support: 24000
Crude Palm Oil: RM4,264 (-RM12, -0.28%)
⬆️ Resistance: 4450
⬇️ Support: 4080
Brent Oil: $68.59 (-$0.62, -0.90%)
⬆️ Resistance: 72.20
⬇️ Support: 66.40
Gold: $3,431.48 (-$2.48, -0.07%)
⬆️ Resistance: 3510
⬇️ Support: 3250
Source: Bloomberg, M+
Dow Jones: 44,502.44 pts (+179.37pts, +0.40%)
⬆️ Resistance: 45500
⬇️ Support: 42900
FBM KLCI: 1,519.40 pts (-5.19pts, -0.34%)
⬆️ Resistance: 1570
⬇️ Support: 1480
HSI Index: 25,130.03 pts (+135.89pts, +0.54%)
⬆️ Resistance: 25700
⬇️ Support: 24000
Crude Palm Oil: RM4,264 (-RM12, -0.28%)
⬆️ Resistance: 4450
⬇️ Support: 4080
Brent Oil: $68.59 (-$0.62, -0.90%)
⬆️ Resistance: 72.20
⬇️ Support: 66.40
Gold: $3,431.48 (-$2.48, -0.07%)
⬆️ Resistance: 3510
⬇️ Support: 3250
Source: Bloomberg, M+
👍2
M+ Global Market Update – 23Jul25
Investors May Rotate Into Defensive Picks
US: Wall Street ended mixed, with the Nasdaq closed lower due to selling pressure on chip stocks after reports that SoftBank and OpenAI scaled back their USD500bn AI “Stargate” project. However, we believe the market will trade on a positive tone ahead of the reporting season, with Tesla and Alphabet earnings in focus. Nevertheless, the upside might be limited by Trump’s proposed tariffs of 20–50% on major trading partners. The Fed is widely expected to keep rates unchanged next week. For commodities, Brent crude edged down to USD68/bbl, while gold and CPO traded higher at USD3,431/oz and RM4,264/MT.
MY: In light of mixed performance on Wall Street, we expect the similar sentiment on the local front due to the recent MACC investigations on several data center projects. However, we believe this may provide a decent buy-on-dip opportunity on SUNCON, SUNWAY, and other data centre-related counters, underpinned by their strong fundamentals and solid order book secured. Meanwhile, CPO prices have been trending higher since late June, supported by firmer soybean oil prices and stronger exports to India ahead of Deepavali, with JTIASA and JPG as our top picks. Lastly, we continue to like the REIT sector, with IGBCR (M+ Global TP: RM0.70) as one of our favourites due to its rising rental income and occupancy rates.
Stocks to watch:
Consumer: 99SMART, *ECOSHOP*, *MFLOUR*
Technology: *ADB*, ITMAX, *MI*
Property: *KTI*
Plantation: JPG
O&G: HAWK
Source: M+ Global
Investors May Rotate Into Defensive Picks
US: Wall Street ended mixed, with the Nasdaq closed lower due to selling pressure on chip stocks after reports that SoftBank and OpenAI scaled back their USD500bn AI “Stargate” project. However, we believe the market will trade on a positive tone ahead of the reporting season, with Tesla and Alphabet earnings in focus. Nevertheless, the upside might be limited by Trump’s proposed tariffs of 20–50% on major trading partners. The Fed is widely expected to keep rates unchanged next week. For commodities, Brent crude edged down to USD68/bbl, while gold and CPO traded higher at USD3,431/oz and RM4,264/MT.
MY: In light of mixed performance on Wall Street, we expect the similar sentiment on the local front due to the recent MACC investigations on several data center projects. However, we believe this may provide a decent buy-on-dip opportunity on SUNCON, SUNWAY, and other data centre-related counters, underpinned by their strong fundamentals and solid order book secured. Meanwhile, CPO prices have been trending higher since late June, supported by firmer soybean oil prices and stronger exports to India ahead of Deepavali, with JTIASA and JPG as our top picks. Lastly, we continue to like the REIT sector, with IGBCR (M+ Global TP: RM0.70) as one of our favourites due to its rising rental income and occupancy rates.
Stocks to watch:
Consumer: 99SMART, *ECOSHOP*, *MFLOUR*
Technology: *ADB*, ITMAX, *MI*
Property: *KTI*
Plantation: JPG
O&G: HAWK
Source: M+ Global
👍2
M+ Global Market Wrap - 23Jul25
FBM KLCI: 1,529.79 pts (+10.39pts, +0.68%)
The FBMKLCI (+0.68%) snapped its two-day losing streak to close higher at 1,529.79 pts, lifted by gains in CIMB (+12.0 sen) and TENAGA (+16.0 sen). This followed after IMF’s comments of Malaysia’s resilient financial fundamentals, noting the country is well-positioned to weather global economic challenges given its strong balance sheet and rising net international investment position (NIIP). Market breadth turned positive, with 627 gainers versus 387 losers. Sector-wise, buying interest emerged in Technology (+1.51%), while the Property sector (-0.19%) saw mild profit-taking.
Top 3 Active stocks:
NEXG (5216): RM0.520 (+1.5 sen)
TANCO (2429): RM0.915 (+0.5 sen)
EKOVEST (8877): RM0.395 (+0.5 sen)
Volume: 3.27 bn (100-bar avg vol: 3.04 bn)
Value: RM2.25 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️627⬇️387
Crude palm oil: RM4,311 (+RM47)
Dow Futures: 44,929 pts (+218 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,529.79 pts (+10.39pts, +0.68%)
The FBMKLCI (+0.68%) snapped its two-day losing streak to close higher at 1,529.79 pts, lifted by gains in CIMB (+12.0 sen) and TENAGA (+16.0 sen). This followed after IMF’s comments of Malaysia’s resilient financial fundamentals, noting the country is well-positioned to weather global economic challenges given its strong balance sheet and rising net international investment position (NIIP). Market breadth turned positive, with 627 gainers versus 387 losers. Sector-wise, buying interest emerged in Technology (+1.51%), while the Property sector (-0.19%) saw mild profit-taking.
Top 3 Active stocks:
NEXG (5216): RM0.520 (+1.5 sen)
TANCO (2429): RM0.915 (+0.5 sen)
EKOVEST (8877): RM0.395 (+0.5 sen)
Volume: 3.27 bn (100-bar avg vol: 3.04 bn)
Value: RM2.25 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️627⬇️387
Crude palm oil: RM4,311 (+RM47)
Dow Futures: 44,929 pts (+218 pts)
**Source: M+ Global, Bloomberg **
👏2
M+ Morning Market Buzz - 24Jul25
Dow Jones: 45,010.29 pts (+507.85pts, +1.14%)
⬆️ Resistance: 46000
⬇️ Support: 43400
FBM KLCI: 1,529.79 pts (+10.39pts, +0.68%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 25,538.07 pts (+408.04pts, +1.62%)
⬆️ Resistance: 26100
⬇️ Support: 24000
Crude Palm Oil: RM4,315 (-RM15, -0.35%)
⬆️ Resistance: 4450
⬇️ Support: 4110
Brent Oil: $68.51 (-$0.08, -0.12%)
⬆️ Resistance: 72.20
⬇️ Support: 66.70
Gold: $3,387.29 (-$0.66, -0.02%)
⬆️ Resistance: 3510
⬇️ Support: 3250
Source: Bloomberg, M+
Dow Jones: 45,010.29 pts (+507.85pts, +1.14%)
⬆️ Resistance: 46000
⬇️ Support: 43400
FBM KLCI: 1,529.79 pts (+10.39pts, +0.68%)
⬆️ Resistance: 1570
⬇️ Support: 1490
HSI Index: 25,538.07 pts (+408.04pts, +1.62%)
⬆️ Resistance: 26100
⬇️ Support: 24000
Crude Palm Oil: RM4,315 (-RM15, -0.35%)
⬆️ Resistance: 4450
⬇️ Support: 4110
Brent Oil: $68.51 (-$0.08, -0.12%)
⬆️ Resistance: 72.20
⬇️ Support: 66.70
Gold: $3,387.29 (-$0.66, -0.02%)
⬆️ Resistance: 3510
⬇️ Support: 3250
Source: Bloomberg, M+
M+ Global Market Update – 24Jul25
S&P 500 Hits New High on US-Japan Trade Progress
US: The S&P 500 closed at a record high following the US-Japan trade deal, which eased fears of an all-out trade war. Under the deal, tariffs were capped at 15%, with Japan committing USD550bn investment into the US and opening its markets to US goods. EU side is still negotiating with US, facing 30% tariff from August 1. Hence, we believe the overall market will remain positive for now. Meanwhile, Alphabet posted strong 2Q25, beating revenue and EPS expectations while raising its AI capex outlook to USD85bn, whereas Tesla missed both revenue and profit estimates as 2Q sales fell sharply, despite margins coming in better than expectations.
MY: In light of PM Anwar’s announcement on lowering the RON95 retail price to RM1.99 per litre effective end-September, coupled with RM100 cash handouts, we expect positive sentiment to persist on the local bourse today. The cash assistance is also expected to benefit the consumer sector, with counters like ECOSHOP and 99SMART experiencing breakouts following the announcement. We continue to favour the Construction and Utilities sectors amid the ongoing data centre boom, and REITs given BNM’s OPR reduction and their defensive nature. Lastly, traders may look for trading opportunities in counters such as AGMO (M+ Technical Focus), MI, SSB8, and MFLOUR, which have all broken above the MA200.
Stocks to watch:
Technology: *ADB*, AGMO, *MI*, VITROX
Consumer: 99SMART, *ECOSHOP*, *MFLOUR*
Utility: *JTGROUP*, MALAKOF
Building Material: PMETAL
Finance: CIMB MAYBANK
Source: M+ Global
S&P 500 Hits New High on US-Japan Trade Progress
US: The S&P 500 closed at a record high following the US-Japan trade deal, which eased fears of an all-out trade war. Under the deal, tariffs were capped at 15%, with Japan committing USD550bn investment into the US and opening its markets to US goods. EU side is still negotiating with US, facing 30% tariff from August 1. Hence, we believe the overall market will remain positive for now. Meanwhile, Alphabet posted strong 2Q25, beating revenue and EPS expectations while raising its AI capex outlook to USD85bn, whereas Tesla missed both revenue and profit estimates as 2Q sales fell sharply, despite margins coming in better than expectations.
MY: In light of PM Anwar’s announcement on lowering the RON95 retail price to RM1.99 per litre effective end-September, coupled with RM100 cash handouts, we expect positive sentiment to persist on the local bourse today. The cash assistance is also expected to benefit the consumer sector, with counters like ECOSHOP and 99SMART experiencing breakouts following the announcement. We continue to favour the Construction and Utilities sectors amid the ongoing data centre boom, and REITs given BNM’s OPR reduction and their defensive nature. Lastly, traders may look for trading opportunities in counters such as AGMO (M+ Technical Focus), MI, SSB8, and MFLOUR, which have all broken above the MA200.
Stocks to watch:
Technology: *ADB*, AGMO, *MI*, VITROX
Consumer: 99SMART, *ECOSHOP*, *MFLOUR*
Utility: *JTGROUP*, MALAKOF
Building Material: PMETAL
Finance: CIMB MAYBANK
Source: M+ Global
👍2
M+ Global Market Wrap - 24Jul25
FBM KLCI: 1,540.32 pts (+10.53pts, +0.69%)
The FBMKLCI (+0.69%) extended its gains for a second day and closed higher at 1,540.32 pts, lifted by gains in PCHEM (+32.0 sen) and NESTLE (+542.0 sen). The latter reported a 9.5% and 19.8% YoY increase in its 2Q25 revenue and net profit respectively, supported by better cost control and a prudent pricing strategy. Market breadth remained positive, with 502 gainers against 474 losers. In the broader market, the Industrial Products & Services (+1.76%) sector outperformed, buoyed by gains in PCHEM (+32.0 sen) and PMETAL (+6.0 sen), while the Energy (-0.61%) sector posted the steepest decline.
Top 3 Active stocks:
ZETRIX (0138): RM0.915 (-3.0 sen)
TANCO (2429): RM0.915 (unch)
NEXG (5216): RM0.515 (-0.5 sen)
Volume: 2.97 bn (100-bar avg vol: 3.04 bn)
Value: RM2.30 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️502⬇️474
Crude palm oil: RM4,363 (+RM48)
Dow Futures: 45,073 pts (-141 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,540.32 pts (+10.53pts, +0.69%)
The FBMKLCI (+0.69%) extended its gains for a second day and closed higher at 1,540.32 pts, lifted by gains in PCHEM (+32.0 sen) and NESTLE (+542.0 sen). The latter reported a 9.5% and 19.8% YoY increase in its 2Q25 revenue and net profit respectively, supported by better cost control and a prudent pricing strategy. Market breadth remained positive, with 502 gainers against 474 losers. In the broader market, the Industrial Products & Services (+1.76%) sector outperformed, buoyed by gains in PCHEM (+32.0 sen) and PMETAL (+6.0 sen), while the Energy (-0.61%) sector posted the steepest decline.
Top 3 Active stocks:
ZETRIX (0138): RM0.915 (-3.0 sen)
TANCO (2429): RM0.915 (unch)
NEXG (5216): RM0.515 (-0.5 sen)
Volume: 2.97 bn (100-bar avg vol: 3.04 bn)
Value: RM2.30 bn (100-bar avg val: RM2.43 bn)
Market Breadth: ⬆️502⬇️474
Crude palm oil: RM4,363 (+RM48)
Dow Futures: 45,073 pts (-141 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 25Jul25
Dow Jones: 44,693.91 pts (-316.38pts, -0.70%)
⬆️ Resistance: 46000
⬇️ Support: 43400
FBM KLCI: 1,540.32 pts (+10.53pts, +0.69%)
⬆️ Resistance: 1580
⬇️ Support: 1490
HSI Index: 25,667.18 pts (+129.11pts, +0.51%)
⬆️ Resistance: 26300
⬇️ Support: 24200
Crude Palm Oil: RM4,330 (-RM19, -0.44%)
⬆️ Resistance: 4470
⬇️ Support: 4120
Brent Oil: $69.18 (+$0.67, +0.98%)
⬆️ Resistance: 72.20
⬇️ Support: 66.70
Gold: $3,368.68 (-$0.81, -0.02%)
⬆️ Resistance: 3510
⬇️ Support: 3270
Source: Bloomberg, M+
Dow Jones: 44,693.91 pts (-316.38pts, -0.70%)
⬆️ Resistance: 46000
⬇️ Support: 43400
FBM KLCI: 1,540.32 pts (+10.53pts, +0.69%)
⬆️ Resistance: 1580
⬇️ Support: 1490
HSI Index: 25,667.18 pts (+129.11pts, +0.51%)
⬆️ Resistance: 26300
⬇️ Support: 24200
Crude Palm Oil: RM4,330 (-RM19, -0.44%)
⬆️ Resistance: 4470
⬇️ Support: 4120
Brent Oil: $69.18 (+$0.67, +0.98%)
⬆️ Resistance: 72.20
⬇️ Support: 66.70
Gold: $3,368.68 (-$0.81, -0.02%)
⬆️ Resistance: 3510
⬇️ Support: 3270
Source: Bloomberg, M+
M+ Global Market Update – 25Jul25
Selectively Positive On The Local Front
US: Optimism over a potential US-EU trade deal capping tariffs at 15% has pushed Wall Street into new highs. On corporate earnings, Alphabet beat 2Q25 revenue and EPS estimates, raising its AI capex to USD85bn, while Tesla missed expectations, with Musk warning of a few tough quarters ahead. Meanwhile, on the economic front, jobless claims remained lower than expected, signalling labour market resilience. Given the mixed corporate earnings and economic data, coupled with the overstretched market conditions, the market may warrant a slight pullback. In the commodities market, Brent crude, Gold and CPO traded at USD69/bbl, USD3,368/oz and RM4,330/MT respectively.
MY: Selectively, we are noticing uptrend formation within several sectors that are related to utilities and data center. Also, we opine that investors can start accumulating banking stocks for long-term positions despite the recent OPR cut as Bursa Finance Index has declined around 10% from the YTD high. Valuations remain attractive, with the sector trading at 10x PE and 1.1x PB vs. its 10-year average of 12.3x and 1.2x, respectively. We favour MAYBANK, AMMB and RHBBANK attractive dividend yields. Meanwhile, the RM100 cash handouts and price caps on tolls and RON95 are expected to spur short-term consumer spending, benefiting companies like 99SMART, ECOSHOP, and MRDIY.
Stocks to watch:
Technology: *ADB*, *MTAG*, VITROX
Consumer: *99SMART*, MFLOUR
Utility: *JTGROUP*, KJTS
Finance: CIMB, MAYBANK
Construction: *SSB8*
Building Material: *PMETAL*
O&G: HAWK
Source: M+ Global
Selectively Positive On The Local Front
US: Optimism over a potential US-EU trade deal capping tariffs at 15% has pushed Wall Street into new highs. On corporate earnings, Alphabet beat 2Q25 revenue and EPS estimates, raising its AI capex to USD85bn, while Tesla missed expectations, with Musk warning of a few tough quarters ahead. Meanwhile, on the economic front, jobless claims remained lower than expected, signalling labour market resilience. Given the mixed corporate earnings and economic data, coupled with the overstretched market conditions, the market may warrant a slight pullback. In the commodities market, Brent crude, Gold and CPO traded at USD69/bbl, USD3,368/oz and RM4,330/MT respectively.
MY: Selectively, we are noticing uptrend formation within several sectors that are related to utilities and data center. Also, we opine that investors can start accumulating banking stocks for long-term positions despite the recent OPR cut as Bursa Finance Index has declined around 10% from the YTD high. Valuations remain attractive, with the sector trading at 10x PE and 1.1x PB vs. its 10-year average of 12.3x and 1.2x, respectively. We favour MAYBANK, AMMB and RHBBANK attractive dividend yields. Meanwhile, the RM100 cash handouts and price caps on tolls and RON95 are expected to spur short-term consumer spending, benefiting companies like 99SMART, ECOSHOP, and MRDIY.
Stocks to watch:
Technology: *ADB*, *MTAG*, VITROX
Consumer: *99SMART*, MFLOUR
Utility: *JTGROUP*, KJTS
Finance: CIMB, MAYBANK
Construction: *SSB8*
Building Material: *PMETAL*
O&G: HAWK
Source: M+ Global
👍3
Good Evening All,
We issued a technical buy call on Advance Micro Devices: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) The MI308 and MI350 boom
(ii) Softer China export policies
(iii) Valuation at 1/20th of NVIDIA’s
Research Team, M+
25 July 2025
We issued a technical buy call on Advance Micro Devices: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) The MI308 and MI350 boom
(ii) Softer China export policies
(iii) Valuation at 1/20th of NVIDIA’s
Research Team, M+
25 July 2025
M+ Global Market Wrap - 25Jul25
FBM KLCI: 1,533.76 pts (-6.56pts, -0.43%)
The FBMKLCI (-0.43%) snapped its 2-day gains and closed lower at 1,533.76 pts, as losses in TENAGA (-34.0 sen) and PCHEM (-16.0 sen) dragged the key index lower. Investors are expected to trade cautiously ahead of the upcoming Fed meeting and Trump’s August 1 tariff deadline. Market breadth turned negative, with 601 losers against 356 winners. On the sectoral front, 10 out of 13 sectors ended in the red. The Telecommunications & Services (+0.99%) sector outperformed, led by gains in AXIATA (+14.0 sen) and MAXIS (+2.0 sen), while Healthcare (-0.71%) sector declined the most.
Top 3 Active stocks:
NEXG (5216): RM0.525 (+1.0 sen)
FOCUS (0116): RM0.010 (unch)
ZETRIX (0138): RM0.910 (-0.5 sen)
Volume: 2.86 bn (100-bar avg vol: 3.04 bn)
Value: RM2.16 bn (100-bar avg val: RM2.42 bn)
Market Breadth: ⬆️356⬇️601
Crude palm oil: RM4,253 (-RM77)
Dow Futures: 44,948 pts (+49 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,533.76 pts (-6.56pts, -0.43%)
The FBMKLCI (-0.43%) snapped its 2-day gains and closed lower at 1,533.76 pts, as losses in TENAGA (-34.0 sen) and PCHEM (-16.0 sen) dragged the key index lower. Investors are expected to trade cautiously ahead of the upcoming Fed meeting and Trump’s August 1 tariff deadline. Market breadth turned negative, with 601 losers against 356 winners. On the sectoral front, 10 out of 13 sectors ended in the red. The Telecommunications & Services (+0.99%) sector outperformed, led by gains in AXIATA (+14.0 sen) and MAXIS (+2.0 sen), while Healthcare (-0.71%) sector declined the most.
Top 3 Active stocks:
NEXG (5216): RM0.525 (+1.0 sen)
FOCUS (0116): RM0.010 (unch)
ZETRIX (0138): RM0.910 (-0.5 sen)
Volume: 2.86 bn (100-bar avg vol: 3.04 bn)
Value: RM2.16 bn (100-bar avg val: RM2.42 bn)
Market Breadth: ⬆️356⬇️601
Crude palm oil: RM4,253 (-RM77)
Dow Futures: 44,948 pts (+49 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 28Jul25
Dow Jones: 44,901.92 pts (+208.01pts, +0.47%)
⬆️ Resistance: 46000
⬇️ Support: 43400
FBM KLCI: 1,533.76 pts (-6.56pts, -0.43%)
⬆️ Resistance: 1580
⬇️ Support: 1490
HSI Index: 25,388.35 pts (-278.83pts, -1.09%)
⬆️ Resistance: 26300
⬇️ Support: 24400
Crude Palm Oil: RM4,273 (-RM57, -1.32%)
⬆️ Resistance: 4470
⬇️ Support: 4130
Brent Oil: $68.44 (-$0.74, -1.07%)
⬆️ Resistance: 71.30
⬇️ Support: 66.70
Gold: $3,337.30 (-$31.38, -0.93%)
⬆️ Resistance: 3510
⬇️ Support: 3260
Source: Bloomberg, M+
Dow Jones: 44,901.92 pts (+208.01pts, +0.47%)
⬆️ Resistance: 46000
⬇️ Support: 43400
FBM KLCI: 1,533.76 pts (-6.56pts, -0.43%)
⬆️ Resistance: 1580
⬇️ Support: 1490
HSI Index: 25,388.35 pts (-278.83pts, -1.09%)
⬆️ Resistance: 26300
⬇️ Support: 24400
Crude Palm Oil: RM4,273 (-RM57, -1.32%)
⬆️ Resistance: 4470
⬇️ Support: 4130
Brent Oil: $68.44 (-$0.74, -1.07%)
⬆️ Resistance: 71.30
⬇️ Support: 66.70
Gold: $3,337.30 (-$31.38, -0.93%)
⬆️ Resistance: 3510
⬇️ Support: 3260
Source: Bloomberg, M+
M+ Global Market Update – 28Jul25
Sentiment Remained Resilient
US: With recent developments toward de-escalating the trade war, the US-EU trade deal capping tariffs at 15% has boosted Wall Street’s positive sentiment. With more than 100 companies releasing their earnings results this week, coupled with key economic data such as JOLTS, ADP payrolls, and initial jobless claims, we expect upbeat sentiment to persist. In the semiconductor segment, we favour AMD, given its new exposure to the China market and the rollout of the MI350 and MI400, which should positively impact upcoming quarterly results. In the commodities market, Brent crude, gold, and CPO retreated lower towards USD67/bbl, USD3,330/oz, and RM4,273/MT, respectively.
MY: We believe the positive sentiment may spillover towards stock on the local front, tracking Wall Street’s rally. Given Tenaga’s CapEx rollout stretching until year-end, and data centre packages expected to be announced over the next two in 2H025, MNHLDG, UUE, as well as KJTS. Although the recent OPR cut may directly impact the NIM, we opine that the banking sector commands undemanding valuations, currently trading at 10x P/E versus the 10-year average of 12.2x. Meanwhile, REITs remain attractive given their premium yields over government-backed securities.
Stocks to watch:
Utility: CHB, JTGROUP, *KJTS*
Technology: *ADB*, *VITROX*
Consumer: MEGAFB, *MFLOUR*
Building Material: MCEMENT, *PMETAL*
Property: *ECOWLD*
Finance: CIMB
Source: M+ Global
Sentiment Remained Resilient
US: With recent developments toward de-escalating the trade war, the US-EU trade deal capping tariffs at 15% has boosted Wall Street’s positive sentiment. With more than 100 companies releasing their earnings results this week, coupled with key economic data such as JOLTS, ADP payrolls, and initial jobless claims, we expect upbeat sentiment to persist. In the semiconductor segment, we favour AMD, given its new exposure to the China market and the rollout of the MI350 and MI400, which should positively impact upcoming quarterly results. In the commodities market, Brent crude, gold, and CPO retreated lower towards USD67/bbl, USD3,330/oz, and RM4,273/MT, respectively.
MY: We believe the positive sentiment may spillover towards stock on the local front, tracking Wall Street’s rally. Given Tenaga’s CapEx rollout stretching until year-end, and data centre packages expected to be announced over the next two in 2H025, MNHLDG, UUE, as well as KJTS. Although the recent OPR cut may directly impact the NIM, we opine that the banking sector commands undemanding valuations, currently trading at 10x P/E versus the 10-year average of 12.2x. Meanwhile, REITs remain attractive given their premium yields over government-backed securities.
Stocks to watch:
Utility: CHB, JTGROUP, *KJTS*
Technology: *ADB*, *VITROX*
Consumer: MEGAFB, *MFLOUR*
Building Material: MCEMENT, *PMETAL*
Property: *ECOWLD*
Finance: CIMB
Source: M+ Global
M+ Global Market Wrap - 28Jul25
FBM KLCI: 1,529.38 pts (-4.38pts, -0.29%)
Bucking the Wall Street’s gains, negative sentiment emerged on the local bourse, led by Banking heavyweights like PPBANK (-4.0 sen) and HLBANK (-22.0 sen). Market breadth was negative, with losers outpacing gainers at 555-to-420 stocks, while total traded volume stood at norms. On the broader market, Plantation (+0.38%) outperformed, with SDG (+8.0 sen) and IOICORP (+8.0 sen) leading the pack while Technology (-0.88%) declined the most, led by ZETRIX (-7.5 sen) as it is no longer involved in renewal of foreign worker permits.
Top 3 Active stocks:
"
ZETRIX (0138): RM0.835 (-7.5 sen)"
EKOVEST (8877): RM0.440 (+4.0 sen)
NEXG (5216): RM0.530 (+0.5 sen)
Volume: 3.00 bn (100-bar avg vol: 3.04 bn)
Value: RM2.30 bn (100-bar avg val: RM2.42 bn)
Market Breadth: ⬆️420⬇️555
Crude palm oil: RM4,238 (-RM35)
Dow Futures: 45,168 pts (+84 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,529.38 pts (-4.38pts, -0.29%)
Bucking the Wall Street’s gains, negative sentiment emerged on the local bourse, led by Banking heavyweights like PPBANK (-4.0 sen) and HLBANK (-22.0 sen). Market breadth was negative, with losers outpacing gainers at 555-to-420 stocks, while total traded volume stood at norms. On the broader market, Plantation (+0.38%) outperformed, with SDG (+8.0 sen) and IOICORP (+8.0 sen) leading the pack while Technology (-0.88%) declined the most, led by ZETRIX (-7.5 sen) as it is no longer involved in renewal of foreign worker permits.
Top 3 Active stocks:
"
ZETRIX (0138): RM0.835 (-7.5 sen)"
EKOVEST (8877): RM0.440 (+4.0 sen)
NEXG (5216): RM0.530 (+0.5 sen)
Volume: 3.00 bn (100-bar avg vol: 3.04 bn)
Value: RM2.30 bn (100-bar avg val: RM2.42 bn)
Market Breadth: ⬆️420⬇️555
Crude palm oil: RM4,238 (-RM35)
Dow Futures: 45,168 pts (+84 pts)
**Source: M+ Global, Bloomberg **
Good Evening All,
We issued a technical buy call on NXP Semiconductors NV: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Riding the EV wave
(ii) Margin resilience despite industry softness
(iii) Recovery in analog market to lift earnings multiple
Research Team, M+
28 July 2025
We issued a technical buy call on NXP Semiconductors NV: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Riding the EV wave
(ii) Margin resilience despite industry softness
(iii) Recovery in analog market to lift earnings multiple
Research Team, M+
28 July 2025
👍2
M+ Morning Market Buzz - 29Jul25
Dow Jones: 44,837.56 pts (-64.36pts, -0.14%)
⬆️ Resistance: 46000
⬇️ Support: 43400
FBM KLCI: 1,529.38 pts (-4.38pts, -0.29%)
⬆️ Resistance: 1580
⬇️ Support: 1490
HSI Index: 25,562.13 pts (+173.78pts, +0.68%)
⬆️ Resistance: 26300
⬇️ Support: 24500
Crude Palm Oil: RM4,242 (RM0, 0.00%)
⬆️ Resistance: 4470
⬇️ Support: 4140
Brent Oil: $70.04 (+$1.60, +2.34%)
⬆️ Resistance: 71.90
⬇️ Support: 66.70
Gold: $3,314.61 ($0.00, 0.00%)
⬆️ Resistance: 3510
⬇️ Support: 3240
Source: Bloomberg, M+
Dow Jones: 44,837.56 pts (-64.36pts, -0.14%)
⬆️ Resistance: 46000
⬇️ Support: 43400
FBM KLCI: 1,529.38 pts (-4.38pts, -0.29%)
⬆️ Resistance: 1580
⬇️ Support: 1490
HSI Index: 25,562.13 pts (+173.78pts, +0.68%)
⬆️ Resistance: 26300
⬇️ Support: 24500
Crude Palm Oil: RM4,242 (RM0, 0.00%)
⬆️ Resistance: 4470
⬇️ Support: 4140
Brent Oil: $70.04 (+$1.60, +2.34%)
⬆️ Resistance: 71.90
⬇️ Support: 66.70
Gold: $3,314.61 ($0.00, 0.00%)
⬆️ Resistance: 3510
⬇️ Support: 3240
Source: Bloomberg, M+
👍1
M+ Global Market Update – 29Jul25
Traders May Focus on Earnings Play
US: Wall Street trended sideways, despite recent de-escalation in the trade war, with the US and EU capping tariffs at 15%. Going forward, market participants could be adopting a “wait-and-see” approach as more than 100 companies are set to release earnings this week, coupled by the highly anticipated FOMC meeting and key economic data releases. We are positive on the semiconductor segment, as we believe AMD is playing a catch up given its exposure to the China market and the rollout of a comparable, yet more affordable alternative to NVIDIA’s chip. In the commodities market, Brent crude advanced toward USD69/bbl, while gold retreated further to USD3,314/oz. CPO prices remained stable at RM4,242/MT.
MY: Although we expect the market could trade sideways on the local front, traders should focus on the utilities segment, such as MNHLDG, UUE, and KJTS. We believe these companies will benefit from Tenaga’s CapEx rollout and data centre projects which may be announced in 2H2025. Meanwhile, in the Technology sector, we favour selected stocks with momentum at this juncture, such as FRONTKN and MI and thematic stock such ADB, supported by the ongoing e-invoice implementation. Besides, we expect the overall Construction, Property and Building Material sectors may perform well under the NETR and JS-SEZ catalysts.
Stocks to watch:
Technology: *ADB*, FRONTKN, *MI*
Building Material: MCEMENT, *PMETAL*
Construction: EKOVEST, *PESONA*
Consumer: *MFLOUR*
Property: SIMEPROP
REIT: SUNREIT
Source: M+ Global
Traders May Focus on Earnings Play
US: Wall Street trended sideways, despite recent de-escalation in the trade war, with the US and EU capping tariffs at 15%. Going forward, market participants could be adopting a “wait-and-see” approach as more than 100 companies are set to release earnings this week, coupled by the highly anticipated FOMC meeting and key economic data releases. We are positive on the semiconductor segment, as we believe AMD is playing a catch up given its exposure to the China market and the rollout of a comparable, yet more affordable alternative to NVIDIA’s chip. In the commodities market, Brent crude advanced toward USD69/bbl, while gold retreated further to USD3,314/oz. CPO prices remained stable at RM4,242/MT.
MY: Although we expect the market could trade sideways on the local front, traders should focus on the utilities segment, such as MNHLDG, UUE, and KJTS. We believe these companies will benefit from Tenaga’s CapEx rollout and data centre projects which may be announced in 2H2025. Meanwhile, in the Technology sector, we favour selected stocks with momentum at this juncture, such as FRONTKN and MI and thematic stock such ADB, supported by the ongoing e-invoice implementation. Besides, we expect the overall Construction, Property and Building Material sectors may perform well under the NETR and JS-SEZ catalysts.
Stocks to watch:
Technology: *ADB*, FRONTKN, *MI*
Building Material: MCEMENT, *PMETAL*
Construction: EKOVEST, *PESONA*
Consumer: *MFLOUR*
Property: SIMEPROP
REIT: SUNREIT
Source: M+ Global
👍1
Good Morning All,
We initiated a coverage report on Wentel Engineering Holdings Berhad: Your Trusted Guide to Global Trading | Malacca Securities
We initiate coverage on WENTEL with a BUY recommendation and a target price of RM0.48, based on a 23.0x P/E pegged to mid-FY26F EPS of 2.08 sen. We believe the assigned multiple is justified given that: i) local peers forward and historical average P/E ranges between 22.8x to 47.6x; ii) WENTEL achieves net margins of 13.4%, well above the local average of 5.9%; and iii) it has Tier-1 exposure to global market players, which command >20% market share and are currently expanding their geographical presence, resulting in positive spillover effects on WENTEL’s backlog orders going forward.
Investment highlights include:
(i) ASEAN ranks as China's top trade partner
(ii) A key beneficiary from the US-China trade tensions
(iii) OSI's registered strong double digit growth in backlog orders
(iv) In expansion mode to fully capture growth opportunities
Research Team, M+
29 July 2025
We initiated a coverage report on Wentel Engineering Holdings Berhad: Your Trusted Guide to Global Trading | Malacca Securities
We initiate coverage on WENTEL with a BUY recommendation and a target price of RM0.48, based on a 23.0x P/E pegged to mid-FY26F EPS of 2.08 sen. We believe the assigned multiple is justified given that: i) local peers forward and historical average P/E ranges between 22.8x to 47.6x; ii) WENTEL achieves net margins of 13.4%, well above the local average of 5.9%; and iii) it has Tier-1 exposure to global market players, which command >20% market share and are currently expanding their geographical presence, resulting in positive spillover effects on WENTEL’s backlog orders going forward.
Investment highlights include:
(i) ASEAN ranks as China's top trade partner
(ii) A key beneficiary from the US-China trade tensions
(iii) OSI's registered strong double digit growth in backlog orders
(iv) In expansion mode to fully capture growth opportunities
Research Team, M+
29 July 2025
M+ Global Market Wrap - 29Jul25
FBM KLCI: 1,528.20 pts (-1.18pts, -0.08%)
Tuesday’s session saw the local bourse reversed on its morning gains after breaching the 100-day EMA, led by selling pressure in Banking heavyweights. Market breadth was negative with losers outpacing gainers at 2-to-1 ratio with total traded volume stood at 10% higher than the 100-day average volume. On the broader market, Industrial Products & Services (+1.26%) outperformed with PCHEM (+18.0 sen) and PMETAL (+11.0 sen) charting the lead, while Health Care (-1.00 %) declined the most.
Top 3 Active stocks:
FOCUS (0116): RM0.005 (-0.5 sen)
OXB (0368): RM0.385 (+9.5 sen)
ZETRIX (0138): RM0.845 (+1.0 sen)
Volume: 3.36 bn (100-bar avg vol: 3.03 bn)
Value: RM2.18 bn (100-bar avg val: RM2.42 bn)
Market Breadth: ⬆️365⬇️603
Crude palm oil: RM4,266 (+RM24)
Dow Futures: 45,080 pts (+68 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,528.20 pts (-1.18pts, -0.08%)
Tuesday’s session saw the local bourse reversed on its morning gains after breaching the 100-day EMA, led by selling pressure in Banking heavyweights. Market breadth was negative with losers outpacing gainers at 2-to-1 ratio with total traded volume stood at 10% higher than the 100-day average volume. On the broader market, Industrial Products & Services (+1.26%) outperformed with PCHEM (+18.0 sen) and PMETAL (+11.0 sen) charting the lead, while Health Care (-1.00 %) declined the most.
Top 3 Active stocks:
FOCUS (0116): RM0.005 (-0.5 sen)
OXB (0368): RM0.385 (+9.5 sen)
ZETRIX (0138): RM0.845 (+1.0 sen)
Volume: 3.36 bn (100-bar avg vol: 3.03 bn)
Value: RM2.18 bn (100-bar avg val: RM2.42 bn)
Market Breadth: ⬆️365⬇️603
Crude palm oil: RM4,266 (+RM24)
Dow Futures: 45,080 pts (+68 pts)
**Source: M+ Global, Bloomberg **
M+ Global Market Update – 30Jul25
Sentiment Taking A Breather
US: Sentiment has turned negative despite recent developments toward de-escalating the trade war, with the US and EU capping tariffs at 15%, as market participants started taking profits ahead of major technology earnings. Certainly, the market will be focusing the trade war deadline on August 1st, FOMC meeting that will conclude later tonight and key economic data releases like US jobs report, PCE and GDP. Although the market has been cautious, we still favour selected chip-related stocks like AMD, as we think it might be playing a catch-up, given its potential price hike of on its MI350 chips. In the commodities market, Brent oil, Gold, and CPO all moved higher to USD71/bbl, USD3,328/oz, and RM4,283/MT, respectively.
MY: Taking a cue from Wall Street’s overnight performance, the local bourse may open on a weaker note. However, with the spike in Brent oil price, we believe traders may shift their attention to the O&G sector. Meanwhile, we still like selected Utilities stocks like KJTS, MNHLDG, and UUE, supported by Tenaga’s CapEx on power grid upgrades and ongoing rollout of data center packages. Besides, IGB Commercial REIT’s earnings came in above our expectations, driven by robust occupancy rates could see potential buying interest.
Stocks to watch:
Technology: *ADB*, *VITROX*
Finance: AMBANK, *OSK*
Construction: *HEGROUP*, *PESONA*
Chemical: LCTITAN, PCHEM
Building Material: PMETAL
REIT: PAVREIT
Utility: PEKAT
Source: M+ Global
Sentiment Taking A Breather
US: Sentiment has turned negative despite recent developments toward de-escalating the trade war, with the US and EU capping tariffs at 15%, as market participants started taking profits ahead of major technology earnings. Certainly, the market will be focusing the trade war deadline on August 1st, FOMC meeting that will conclude later tonight and key economic data releases like US jobs report, PCE and GDP. Although the market has been cautious, we still favour selected chip-related stocks like AMD, as we think it might be playing a catch-up, given its potential price hike of on its MI350 chips. In the commodities market, Brent oil, Gold, and CPO all moved higher to USD71/bbl, USD3,328/oz, and RM4,283/MT, respectively.
MY: Taking a cue from Wall Street’s overnight performance, the local bourse may open on a weaker note. However, with the spike in Brent oil price, we believe traders may shift their attention to the O&G sector. Meanwhile, we still like selected Utilities stocks like KJTS, MNHLDG, and UUE, supported by Tenaga’s CapEx on power grid upgrades and ongoing rollout of data center packages. Besides, IGB Commercial REIT’s earnings came in above our expectations, driven by robust occupancy rates could see potential buying interest.
Stocks to watch:
Technology: *ADB*, *VITROX*
Finance: AMBANK, *OSK*
Construction: *HEGROUP*, *PESONA*
Chemical: LCTITAN, PCHEM
Building Material: PMETAL
REIT: PAVREIT
Utility: PEKAT
Source: M+ Global