M+ Global Market Update – 21Aug25
Awaiting More Clarity Ahead Of Jackson Hole
US: Wall Street extended its losses as selling pressure in Apple and Amazon dragged the broader market lower, while investors stayed cautious ahead of NVIDIA’s earnings next week. The Fed minutes reinforced a wait-and-see stance on rate cuts, citing tariff-related inflation risks, while traders are now eyeing Powell’s Jackson Hole speech on Friday for policy clues. Adding to the uncertainty, Trump renewed his criticism on Powell and called for Fed Governor Lisa Cook’s resignation over alleged mortgage fraud. Given these factors, we expect the overall market to stay cautious in the near term. In the commodities market, Brent oil and gold rebounded to USD67/bbl and USD3,348/oz, while CPO traded lower at RM4,498/MT.
MY: Tracking the weakness in the US, the FBMKLCI is expected to trade on a mixed note. Meanwhile, the Plantation sector outperformed yesterday, driven by gains in SDG following the SDG-GAMUDA collaboration on developing solar farms on its unused and unproductive land, with a potential capacity of up to 1.2GW. We view this development positively as it (i) creates a new income stream from renewable energy and (ii) enhances the value of its idle land. SDG currently has a consensus TP of RM5.22, and we see any price pullback as a buy-on-dip opportunity. Meanwhile, traders can monitor DESTINI, SET and 3REN for potential trading opportunities following their recent breakouts.
Stocks to watch:
Finance: AMBANK, BURSA, *RHBBANK*
Utility: *RANHILL*, SET
Technology: *UNISEM*
Industrial services: *DESTINI*
Construction: *HSSEB*
Automotive: BETA
Property: KSL
Plantation: HSPLANT
Consumer: 99SMART
Source: M+ Global
Awaiting More Clarity Ahead Of Jackson Hole
US: Wall Street extended its losses as selling pressure in Apple and Amazon dragged the broader market lower, while investors stayed cautious ahead of NVIDIA’s earnings next week. The Fed minutes reinforced a wait-and-see stance on rate cuts, citing tariff-related inflation risks, while traders are now eyeing Powell’s Jackson Hole speech on Friday for policy clues. Adding to the uncertainty, Trump renewed his criticism on Powell and called for Fed Governor Lisa Cook’s resignation over alleged mortgage fraud. Given these factors, we expect the overall market to stay cautious in the near term. In the commodities market, Brent oil and gold rebounded to USD67/bbl and USD3,348/oz, while CPO traded lower at RM4,498/MT.
MY: Tracking the weakness in the US, the FBMKLCI is expected to trade on a mixed note. Meanwhile, the Plantation sector outperformed yesterday, driven by gains in SDG following the SDG-GAMUDA collaboration on developing solar farms on its unused and unproductive land, with a potential capacity of up to 1.2GW. We view this development positively as it (i) creates a new income stream from renewable energy and (ii) enhances the value of its idle land. SDG currently has a consensus TP of RM5.22, and we see any price pullback as a buy-on-dip opportunity. Meanwhile, traders can monitor DESTINI, SET and 3REN for potential trading opportunities following their recent breakouts.
Stocks to watch:
Finance: AMBANK, BURSA, *RHBBANK*
Utility: *RANHILL*, SET
Technology: *UNISEM*
Industrial services: *DESTINI*
Construction: *HSSEB*
Automotive: BETA
Property: KSL
Plantation: HSPLANT
Consumer: 99SMART
Source: M+ Global
👍5
M+ Global Market Wrap - 21Aug25
FBM KLCI: 1,592.87 pts (+4.66pts, +0.29%)
Despite the overnight selldown in the US, the FBMKLCI (+0.29%) bucked the trend and closed higher at 1592.87 pts, buoyed by gains in PCHEM (+58.0 sen) and CIMB (+9.0 sen). The former surged following news that China and South Korea are planning to cut back their petrochemical production capacity, easing concerns of an oversupply glut in the sector. Analysts have also raised their target prices following the news. The market breadth was rather flat, with 522 losers against 513 winners. In the broader environment, the Utilities (+2.23%) sector outperformed, led by YTLPOWR (+8.0 sen) and PETGAS (+16.0 sen), while Telecommunications & Media (-1.32%) saw the largest decline.
Top 3 Active stocks:
TANCO (2429): RM0.740 (+1.0 sen)
PCHEM (5183): RM4.76 (+58.0 sen)
NEXG (5216): RM0.450 (+6.0 sen)
Volume: 2.67 bn (100-bar avg vol: 2.94 bn)
Value: RM2.87 bn (100-bar avg val: RM2.32 bn)
Market Breadth: ⬆️513⬇️522
Crude palm oil: RM4,465 (-RM33)
Dow Futures: 44,862 pts (-133 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,592.87 pts (+4.66pts, +0.29%)
Despite the overnight selldown in the US, the FBMKLCI (+0.29%) bucked the trend and closed higher at 1592.87 pts, buoyed by gains in PCHEM (+58.0 sen) and CIMB (+9.0 sen). The former surged following news that China and South Korea are planning to cut back their petrochemical production capacity, easing concerns of an oversupply glut in the sector. Analysts have also raised their target prices following the news. The market breadth was rather flat, with 522 losers against 513 winners. In the broader environment, the Utilities (+2.23%) sector outperformed, led by YTLPOWR (+8.0 sen) and PETGAS (+16.0 sen), while Telecommunications & Media (-1.32%) saw the largest decline.
Top 3 Active stocks:
TANCO (2429): RM0.740 (+1.0 sen)
PCHEM (5183): RM4.76 (+58.0 sen)
NEXG (5216): RM0.450 (+6.0 sen)
Volume: 2.67 bn (100-bar avg vol: 2.94 bn)
Value: RM2.87 bn (100-bar avg val: RM2.32 bn)
Market Breadth: ⬆️513⬇️522
Crude palm oil: RM4,465 (-RM33)
Dow Futures: 44,862 pts (-133 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 22Aug25
Dow Jones: 44,785.50 pts (-152.81pts, -0.34%)
⬆️ Resistance: 46200
⬇️ Support: 43700
FBM KLCI: 1,592.87 pts (+4.66pts, +0.29%)
⬆️ Resistance: 1630
⬇️ Support: 1540
HSI Index: 25,104.61 pts (-61.33pts, -0.24%)
⬆️ Resistance: 26000
⬇️ Support: 24400
Crude Palm Oil: RM4,460 (+RM70, +1.57%)
⬆️ Resistance: 4710
⬇️ Support: 4300
Brent Oil: $67.67 (+$0.83, +1.24%)
⬆️ Resistance: 69.20
⬇️ Support: 64.00
Gold: $3,338.71 (+$1.24, +0.04%)
⬆️ Resistance: 3430
⬇️ Support: 3250
Source: Bloomberg, M+ Global
Dow Jones: 44,785.50 pts (-152.81pts, -0.34%)
⬆️ Resistance: 46200
⬇️ Support: 43700
FBM KLCI: 1,592.87 pts (+4.66pts, +0.29%)
⬆️ Resistance: 1630
⬇️ Support: 1540
HSI Index: 25,104.61 pts (-61.33pts, -0.24%)
⬆️ Resistance: 26000
⬇️ Support: 24400
Crude Palm Oil: RM4,460 (+RM70, +1.57%)
⬆️ Resistance: 4710
⬇️ Support: 4300
Brent Oil: $67.67 (+$0.83, +1.24%)
⬆️ Resistance: 69.20
⬇️ Support: 64.00
Gold: $3,338.71 (+$1.24, +0.04%)
⬆️ Resistance: 3430
⬇️ Support: 3250
Source: Bloomberg, M+ Global
M+ Global Market Update – 22Aug25
Wall Street Hit by Retail Weakness and AI Concerns
US: Wall Street extended its losing streak as weakness in retail and tech weighed on the market. Walmart tumbled on mixed earnings and AI sentiment was hit by a Massachusetts Institute of Technology report, flagging companies for having poor returns on investment in AI. Meanwhile, reported jobless claims were higher-than-expected (235k vs. 226k), suggesting a potentially slowing labour market. Investors will focus on the upcoming Jackson Hole speech by Jerome Powell, where he could offer insights on the interest rates path going forward. In the commodities market, Brent oil edged up marginally toward to USD68/bbl, while both gold and CPO traded lower at USD3,338/oz and RM4,460/MT respectively.
MY: Despite the selldown on Wall Street, we believe the market may stay positive with the Utilities sector leading the broader market. We continue to like YTLPOWR, given its position as the country’s AI leader, underpinned by its RM10bn investments in Malaysia’s AI infrastructure and its upcoming debut of ILMU 1.0 and Ryt Bank. Also, RANHILL staged a solid breakout after its positive quarterly results, and it should benefit from the increase in water tariffs and data centres’ demand in Johor. Besides, we favour MNHLDG, supported by its RM1.1bn orderbook and riding on the country’s ongoing developments in the data centre, renewable energy and power transmission segments.
Stocks to watch:
Construction: *CBHB*, FIBRO, *INTA*
Technology: *EDELTEQ*, *MCLEAN*
Utility: RANHILL, *SUNLOGY*
Transportation: *WPRTS*
Finance: AMBANK
Property: KSL
Plantation: JPG
Source: M+ Global
Wall Street Hit by Retail Weakness and AI Concerns
US: Wall Street extended its losing streak as weakness in retail and tech weighed on the market. Walmart tumbled on mixed earnings and AI sentiment was hit by a Massachusetts Institute of Technology report, flagging companies for having poor returns on investment in AI. Meanwhile, reported jobless claims were higher-than-expected (235k vs. 226k), suggesting a potentially slowing labour market. Investors will focus on the upcoming Jackson Hole speech by Jerome Powell, where he could offer insights on the interest rates path going forward. In the commodities market, Brent oil edged up marginally toward to USD68/bbl, while both gold and CPO traded lower at USD3,338/oz and RM4,460/MT respectively.
MY: Despite the selldown on Wall Street, we believe the market may stay positive with the Utilities sector leading the broader market. We continue to like YTLPOWR, given its position as the country’s AI leader, underpinned by its RM10bn investments in Malaysia’s AI infrastructure and its upcoming debut of ILMU 1.0 and Ryt Bank. Also, RANHILL staged a solid breakout after its positive quarterly results, and it should benefit from the increase in water tariffs and data centres’ demand in Johor. Besides, we favour MNHLDG, supported by its RM1.1bn orderbook and riding on the country’s ongoing developments in the data centre, renewable energy and power transmission segments.
Stocks to watch:
Construction: *CBHB*, FIBRO, *INTA*
Technology: *EDELTEQ*, *MCLEAN*
Utility: RANHILL, *SUNLOGY*
Transportation: *WPRTS*
Finance: AMBANK
Property: KSL
Plantation: JPG
Source: M+ Global
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Good Morning All,
We issued a 3Q25 results note on our coverage stock EITA Resources Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We are downgrading our recommendation to HOLD (from Buy) on EITA with a lower target price of RM0.58 (from RM0.70). The target price is derived based on a P/E ratio of 10.0x pegged to our FY26f EPS of 5.77 sen.
Research Team, M+
22 August 2025
We issued a 3Q25 results note on our coverage stock EITA Resources Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We are downgrading our recommendation to HOLD (from Buy) on EITA with a lower target price of RM0.58 (from RM0.70). The target price is derived based on a P/E ratio of 10.0x pegged to our FY26f EPS of 5.77 sen.
Research Team, M+
22 August 2025
Good Evening All,
We issued a technical buy call on e.l.f Beauty Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusoneline.com)
Trading catalysts include:
(i) The price point remains undemanding even with imposed tariffs,
(ii) Margins continue to recover,
(iii) Market share continues to grow.
Research Team, M+
22 August 2025
We issued a technical buy call on e.l.f Beauty Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusoneline.com)
Trading catalysts include:
(i) The price point remains undemanding even with imposed tariffs,
(ii) Margins continue to recover,
(iii) Market share continues to grow.
Research Team, M+
22 August 2025
M+ Global Market Wrap - 22Aug25
FBM KLCI: 1,597.47 pts (+4.60pts, +0.29%)
The FBMKLCI (+0.29%) breached the 1,600 psychological resistance and reached an intraday high at 1,603.19 pts, before ending the day at 1,597.47 pts. Meanwhile, MIDA reported that Malaysia recorded an 18.7% YoY growth in approved investments in 1H25, reaching RM190.3bn. Market breadth turned positive, with 561 winners outpacing 428 losers. In the broader environment, the Technology (+2.12%) sector outperformed following gains in MPI (+288.0 sen) and VITROX (+14.0 sen), while the Health Care (-0.36%) sector experienced the largest decline for the session.
Top 3 Active stocks:
TANCO (2429): RM0.735 (-0.5 sen)
ZETRIX (0138): RM0.895 (+2.0 sen)
TWL (7079): RM0.025 (unch)
Volume: 2.63 bn (100-bar avg vol: 2.94 bn)
Value: RM2.70 bn (100-bar avg val: RM2.33 bn)
Market Breadth: ⬆️561⬇️428
Crude palm oil: RM4,535 (+RM75)
Dow Futures: 44,980 pts (+126 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,597.47 pts (+4.60pts, +0.29%)
The FBMKLCI (+0.29%) breached the 1,600 psychological resistance and reached an intraday high at 1,603.19 pts, before ending the day at 1,597.47 pts. Meanwhile, MIDA reported that Malaysia recorded an 18.7% YoY growth in approved investments in 1H25, reaching RM190.3bn. Market breadth turned positive, with 561 winners outpacing 428 losers. In the broader environment, the Technology (+2.12%) sector outperformed following gains in MPI (+288.0 sen) and VITROX (+14.0 sen), while the Health Care (-0.36%) sector experienced the largest decline for the session.
Top 3 Active stocks:
TANCO (2429): RM0.735 (-0.5 sen)
ZETRIX (0138): RM0.895 (+2.0 sen)
TWL (7079): RM0.025 (unch)
Volume: 2.63 bn (100-bar avg vol: 2.94 bn)
Value: RM2.70 bn (100-bar avg val: RM2.33 bn)
Market Breadth: ⬆️561⬇️428
Crude palm oil: RM4,535 (+RM75)
Dow Futures: 44,980 pts (+126 pts)
**Source: M+ Global, Bloomberg **
M+ Global Market Update – 25Aug25
Jackson Hole Speech Ignites Wall Street Rally
US: With rising expectations of a possible rate cut following Powell’s Jackson Hole speech, Wall Street closed at a record high, with >80% of market participants pricing in a 25 bps cut. Meanwhile, NVIDIA’s earnings are set to be released later this week, with investors assessing the impact of the China ban as well as the AI tailwind, following Walmart’s mixed earnings. On the economic front, traders will closely monitor U.S. GDP growth, unemployment claims, and the core PCE price index. Meanwhile, on the commodities front, Brent oil price, gold, and CPO advanced to USD67/bbl, USD3,367/oz, and RM4,529/MT, respectively.
MY: Taking a cue from Wall Street’s positive lead, the local bourse is expected to open higher, especially in the Technology sector. Besides, traders may shift their attention to PEKAT and SLVEST, given the renewed buying interest in the solar segment following the government's push for RE, underpinned by initiatives such as the NETR, CRESS, and the LSS project. Meanwhile, KJTS staged a solid flag formation breakout ahead of its quarterly results this Wednesday and stands as a key beneficiary of higher electricity tariffs and rising data centre demand in Johor. Lastly, we view MNHLDG and UUE as being supported by Tenaga’s ongoing CapEx rollout, which extends until year-end, while the country’s positive developments in the utilities sector should provide a healthy job pipeline for these counters.
Stocks to watch:
Technology: *EDELTEQ*, *UNISEM*, *VITROX*, WENTEL
Construction: CHB, INTA, *JTGROUP*
Automotive: *TCHONG*
Utility: *PEKAT*
Finance: RHBBANK
Telco: TIMECOM
Property: KSL
Source: M+ Global
Jackson Hole Speech Ignites Wall Street Rally
US: With rising expectations of a possible rate cut following Powell’s Jackson Hole speech, Wall Street closed at a record high, with >80% of market participants pricing in a 25 bps cut. Meanwhile, NVIDIA’s earnings are set to be released later this week, with investors assessing the impact of the China ban as well as the AI tailwind, following Walmart’s mixed earnings. On the economic front, traders will closely monitor U.S. GDP growth, unemployment claims, and the core PCE price index. Meanwhile, on the commodities front, Brent oil price, gold, and CPO advanced to USD67/bbl, USD3,367/oz, and RM4,529/MT, respectively.
MY: Taking a cue from Wall Street’s positive lead, the local bourse is expected to open higher, especially in the Technology sector. Besides, traders may shift their attention to PEKAT and SLVEST, given the renewed buying interest in the solar segment following the government's push for RE, underpinned by initiatives such as the NETR, CRESS, and the LSS project. Meanwhile, KJTS staged a solid flag formation breakout ahead of its quarterly results this Wednesday and stands as a key beneficiary of higher electricity tariffs and rising data centre demand in Johor. Lastly, we view MNHLDG and UUE as being supported by Tenaga’s ongoing CapEx rollout, which extends until year-end, while the country’s positive developments in the utilities sector should provide a healthy job pipeline for these counters.
Stocks to watch:
Technology: *EDELTEQ*, *UNISEM*, *VITROX*, WENTEL
Construction: CHB, INTA, *JTGROUP*
Automotive: *TCHONG*
Utility: *PEKAT*
Finance: RHBBANK
Telco: TIMECOM
Property: KSL
Source: M+ Global
👍1
M+ Morning Market Buzz - 25Aug25
Dow Jones: 45,631.74 pts (+846.24pts, +1.89%)
⬆️ Resistance: 46700
⬇️ Support: 43700
FBM KLCI: 1,597.47 pts (+4.60pts, +0.29%)
⬆️ Resistance: 1640
⬇️ Support: 1550
HSI Index: 25,339.14 pts (+234.53pts, +0.93%)
⬆️ Resistance: 26000
⬇️ Support: 24400
Crude Palm Oil: RM4,529 (+RM69, +1.55%)
⬆️ Resistance: 4710
⬇️ Support: 4360
Brent Oil: $67.73 (+$0.06, +0.09%)
⬆️ Resistance: 69.40
⬇️ Support: 64.00
Gold: $3,371.86 (-$3.09, -0.09%)
⬆️ Resistance: 3450
⬇️ Support: 3250
Source: Bloomberg, M+ Global
Dow Jones: 45,631.74 pts (+846.24pts, +1.89%)
⬆️ Resistance: 46700
⬇️ Support: 43700
FBM KLCI: 1,597.47 pts (+4.60pts, +0.29%)
⬆️ Resistance: 1640
⬇️ Support: 1550
HSI Index: 25,339.14 pts (+234.53pts, +0.93%)
⬆️ Resistance: 26000
⬇️ Support: 24400
Crude Palm Oil: RM4,529 (+RM69, +1.55%)
⬆️ Resistance: 4710
⬇️ Support: 4360
Brent Oil: $67.73 (+$0.06, +0.09%)
⬆️ Resistance: 69.40
⬇️ Support: 64.00
Gold: $3,371.86 (-$3.09, -0.09%)
⬆️ Resistance: 3450
⬇️ Support: 3250
Source: Bloomberg, M+ Global
M+ Global Market Wrap - 25Aug25
FBM KLCI: 1,601.68 pts (+4.21pts, +0.26%)
Tracking Wall Street’s positive performance, the local bourse began the week on a firmer footing, with traders building exposure in Banking heavyweights like PBBANK (+4.0 sen) and MAYBANK (+5.0 sen), the latter due to anticipation of narrowing rates differential. Market breadth was rather neutral, with gainers to losers standing at a 1-to-1 ratio. On the broader market, Technology (+3.19%) outperformed, with GREATEC (+18.0 sen) and MPI (+198 sen) leading the pack, while Health Care (-0.84%) declined the most.
Top 3 Active stocks:
MAGMA (7243): RM0.215 (-9.5 sen)
MTOUCHE (0092): RM0.885 (+1.5 sen)
PERMAJU (7080): RM0.010 (unch)
Volume: 2.90 bn (100-bar avg vol: 2.95 bn)
Value: RM3.17 bn (100-bar avg val: RM2.33 bn)
Market Breadth: ⬆️519⬇️580
Crude palm oil: RM4,484 (-RM45)
Dow Futures: 45,635 pts (-80 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,601.68 pts (+4.21pts, +0.26%)
Tracking Wall Street’s positive performance, the local bourse began the week on a firmer footing, with traders building exposure in Banking heavyweights like PBBANK (+4.0 sen) and MAYBANK (+5.0 sen), the latter due to anticipation of narrowing rates differential. Market breadth was rather neutral, with gainers to losers standing at a 1-to-1 ratio. On the broader market, Technology (+3.19%) outperformed, with GREATEC (+18.0 sen) and MPI (+198 sen) leading the pack, while Health Care (-0.84%) declined the most.
Top 3 Active stocks:
MAGMA (7243): RM0.215 (-9.5 sen)
MTOUCHE (0092): RM0.885 (+1.5 sen)
PERMAJU (7080): RM0.010 (unch)
Volume: 2.90 bn (100-bar avg vol: 2.95 bn)
Value: RM3.17 bn (100-bar avg val: RM2.33 bn)
Market Breadth: ⬆️519⬇️580
Crude palm oil: RM4,484 (-RM45)
Dow Futures: 45,635 pts (-80 pts)
**Source: M+ Global, Bloomberg **
M+ Global Market Update – 26Aug25
NVIDIA’s Earnings In Focus
US: Wall Street began the week on a weaker note, despite anticipation of an interest rate cut environment, as weakness in Technology stocks dampened sentiment. We believe market participants are adopting a ‘wait-and-see’ approach ahead of NVIDIA’s earnings, given Wall Street’s overstretched valuations. On the economic front, traders will closely monitor U.S. GDP growth, unemployment claims, and the core PCE price index. Meanwhile, in commodities, Brent oil closed higher at USD68/bbl, while gold and CPO prices remained stable at USD3,364/oz and RM4,482/MT, respectively.
MY: Despite Wall Street’s negative overnight performance, the local bourse is likely to trade on a positive tone as we believe the upcoming rate-cut expectation may buoy the overall Technology stocks. We noticed buying support in companies like UNISEM, INARI, and FRONTKN, which we view as proxies for Apple, TSMC, and a potential recovery in China. In the construction sector, traders may shift attention to: (i) key proxies for data centre players, as we anticipate new package announcements this month, and (ii) LSH Capital, which we deem undervalued given its robust orderbook coverage ratio of at least 7x. As a more defensive play, we believe 99SMART may benefit from lower input costs, given the ringgit’s appreciation toward RM4.20 against the USD.
Stocks to watch:
Technology: *EDELTEQ*, *NE*, VITROX
Construction: *JTGROUP*, CBHB
Plantation: JPG, JTIASA
Property: *ECOWLD*
Automotive: *BETA*
Utility: MALAKOF
O&G: DIALOG
Source: M+ Global
NVIDIA’s Earnings In Focus
US: Wall Street began the week on a weaker note, despite anticipation of an interest rate cut environment, as weakness in Technology stocks dampened sentiment. We believe market participants are adopting a ‘wait-and-see’ approach ahead of NVIDIA’s earnings, given Wall Street’s overstretched valuations. On the economic front, traders will closely monitor U.S. GDP growth, unemployment claims, and the core PCE price index. Meanwhile, in commodities, Brent oil closed higher at USD68/bbl, while gold and CPO prices remained stable at USD3,364/oz and RM4,482/MT, respectively.
MY: Despite Wall Street’s negative overnight performance, the local bourse is likely to trade on a positive tone as we believe the upcoming rate-cut expectation may buoy the overall Technology stocks. We noticed buying support in companies like UNISEM, INARI, and FRONTKN, which we view as proxies for Apple, TSMC, and a potential recovery in China. In the construction sector, traders may shift attention to: (i) key proxies for data centre players, as we anticipate new package announcements this month, and (ii) LSH Capital, which we deem undervalued given its robust orderbook coverage ratio of at least 7x. As a more defensive play, we believe 99SMART may benefit from lower input costs, given the ringgit’s appreciation toward RM4.20 against the USD.
Stocks to watch:
Technology: *EDELTEQ*, *NE*, VITROX
Construction: *JTGROUP*, CBHB
Plantation: JPG, JTIASA
Property: *ECOWLD*
Automotive: *BETA*
Utility: MALAKOF
O&G: DIALOG
Source: M+ Global
👍1
M+ Morning Market Buzz - 26Aug25
Dow Jones: 45,282.47 pts (-349.27pts, -0.77%)
⬆ Resistance: 46700
⬇ Support: 43700
FBM KLCI: 1,602.45 pts (+4.98pts, +0.31%)
⬆ Resistance: 1650
⬇ Support: 1560
HSI Index: 25,829.91 pts (+490.77pts, +1.94%)
⬆ Resistance: 26500
⬇ Support: 24400
Crude Palm Oil: RM4,492 (-RM37, -0.82%)
⬆ Resistance: 4710
⬇ Support: 4360
Brent Oil: $68.80 (-$0.31, -0.45%)
⬆ Resistance: 70.50
⬇ Support: 64.30
Gold: $3,365.89 (+$10.96, +0.33%)
⬆ Resistance: 3450
⬇ Support: 3250
Source: Bloomberg, M+ Global
Dow Jones: 45,282.47 pts (-349.27pts, -0.77%)
⬆ Resistance: 46700
⬇ Support: 43700
FBM KLCI: 1,602.45 pts (+4.98pts, +0.31%)
⬆ Resistance: 1650
⬇ Support: 1560
HSI Index: 25,829.91 pts (+490.77pts, +1.94%)
⬆ Resistance: 26500
⬇ Support: 24400
Crude Palm Oil: RM4,492 (-RM37, -0.82%)
⬆ Resistance: 4710
⬇ Support: 4360
Brent Oil: $68.80 (-$0.31, -0.45%)
⬆ Resistance: 70.50
⬇ Support: 64.30
Gold: $3,365.89 (+$10.96, +0.33%)
⬆ Resistance: 3450
⬇ Support: 3250
Source: Bloomberg, M+ Global
👍2
M+ Global Market Wrap - 26Aug25
FBM KLCI: 1,587.39 pts (-16.25pts, -1.01%)
In tandem with the MSCI rebalancing activities, Tuesday’s session saw profit-taking across banking heavyweights such as PBBANK (-9.0 sen) and MAYBANK (-10.0 sen), in line with regional peers, as market participants adopted a ‘wait-and-see’ approach ahead of key U.S. technology earnings. Market breadth was negative, with losers outpacing gainers at 635 to 407. On the broader market, the Energy sector (+0.19%) outperformed, led by LFG (+4.0 sen) and VELESTO (+0.5 sen), while all other sectors closed in the red.
Top 3 Active stocks:
"
SIME (4197): RM1.620 (-4.0 sen)"
GENTING (3182): RM2.800 (-8.0 sen)
MAGMA (7243): RM0.305 (+9.0 sen)
Volume: 4.31 bn (100-bar avg vol: 2.97 bn)
Value: RM6.46 bn (100-bar avg val: RM2.34 bn)
Market Breadth: ⬆️407⬇️635
Crude palm oil: RM4,467 (-RM25)
Dow Futures: 45,275 pts (-76 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,587.39 pts (-16.25pts, -1.01%)
In tandem with the MSCI rebalancing activities, Tuesday’s session saw profit-taking across banking heavyweights such as PBBANK (-9.0 sen) and MAYBANK (-10.0 sen), in line with regional peers, as market participants adopted a ‘wait-and-see’ approach ahead of key U.S. technology earnings. Market breadth was negative, with losers outpacing gainers at 635 to 407. On the broader market, the Energy sector (+0.19%) outperformed, led by LFG (+4.0 sen) and VELESTO (+0.5 sen), while all other sectors closed in the red.
Top 3 Active stocks:
"
SIME (4197): RM1.620 (-4.0 sen)"
GENTING (3182): RM2.800 (-8.0 sen)
MAGMA (7243): RM0.305 (+9.0 sen)
Volume: 4.31 bn (100-bar avg vol: 2.97 bn)
Value: RM6.46 bn (100-bar avg val: RM2.34 bn)
Market Breadth: ⬆️407⬇️635
Crude palm oil: RM4,467 (-RM25)
Dow Futures: 45,275 pts (-76 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 27Aug25
Dow Jones: 45,418.07 pts (+135.60pts, +0.30%)
⬆️ Resistance: 46700
⬇️ Support: 43700
FBM KLCI: 1,581.59 pts (-20.86pts, -1.30%)
⬆️ Resistance: 1650
⬇️ Support: 1550
HSI Index: 25,524.92 pts (-304.99pts, -1.18%)
⬆️ Resistance: 26500
⬇️ Support: 24400
Crude Palm Oil: RM4,470 (-RM19, -0.43%)
⬆️ Resistance: 4660
⬇️ Support: 4360
Brent Oil: $67.22 (-$1.58, -2.30%)
⬆️ Resistance: 70.50
⬇️ Support: 64.50
Gold: $3,393.57 (-$3.95, -0.12%)
⬆️ Resistance: 3470
⬇️ Support: 3250
Source: Bloomberg, M+ Global
Dow Jones: 45,418.07 pts (+135.60pts, +0.30%)
⬆️ Resistance: 46700
⬇️ Support: 43700
FBM KLCI: 1,581.59 pts (-20.86pts, -1.30%)
⬆️ Resistance: 1650
⬇️ Support: 1550
HSI Index: 25,524.92 pts (-304.99pts, -1.18%)
⬆️ Resistance: 26500
⬇️ Support: 24400
Crude Palm Oil: RM4,470 (-RM19, -0.43%)
⬆️ Resistance: 4660
⬇️ Support: 4360
Brent Oil: $67.22 (-$1.58, -2.30%)
⬆️ Resistance: 70.50
⬇️ Support: 64.50
Gold: $3,393.57 (-$3.95, -0.12%)
⬆️ Resistance: 3470
⬇️ Support: 3250
Source: Bloomberg, M+ Global
M+ Global Market Update – 27Aug25
Local Bourse Buying Interest May Pick Up
US: Following the Jackson Hole Symposium, the odds of a rate cut at the September meeting have increased to 89.3%, based on CME FedWatch tool. We believe this has supported the overall market movement. While participants are bidding the stocks higher, cautious sentiment may pick up ahead of Nvidia’s earnings later tonight. On the economic front, traders will closely monitor U.S. GDP growth, unemployment claims, and the core PCE price index. Meanwhile, in commodities, Brent oil and CPO closed lower at USD66/bbl and RM4,451/MT, respectively, while gold edged higher to USD3,390/oz.
MY: Taking cues from Wall Street’s positive lead, the local bourse is likely to open on a firmer note, with continued buying interest expected in the Technology sector. We favour UNISEM, INARI, and FRONTKN as we believe these companies serve as proxies for Apple and may benefit from China’s recovery. On the construction play, we believe traders may focus on: (i) SUNCON and GAMUDA amid data center boom, (ii) LSH Capital, which we deem undervalued given its diverse business model and strong orderbook coverage ratio of 7x, and (iii) INTA, supported by a healthy orderbook while trading at undemanding valuations. On the utilities play, we see potential upside in MNHLDG, with results coming in above consensus and pending for flag formation breakout.
Stocks to watch:
Technology: *CORAZA*, EDELTEQ, *FRONTKN*, *MCLEAN*, MI, *NE*, WENTEL
Property: *ECOWLD*
Utility: RANHILL
Telco: TM
Building Material: UNIQUE
Source: M+ Global
Local Bourse Buying Interest May Pick Up
US: Following the Jackson Hole Symposium, the odds of a rate cut at the September meeting have increased to 89.3%, based on CME FedWatch tool. We believe this has supported the overall market movement. While participants are bidding the stocks higher, cautious sentiment may pick up ahead of Nvidia’s earnings later tonight. On the economic front, traders will closely monitor U.S. GDP growth, unemployment claims, and the core PCE price index. Meanwhile, in commodities, Brent oil and CPO closed lower at USD66/bbl and RM4,451/MT, respectively, while gold edged higher to USD3,390/oz.
MY: Taking cues from Wall Street’s positive lead, the local bourse is likely to open on a firmer note, with continued buying interest expected in the Technology sector. We favour UNISEM, INARI, and FRONTKN as we believe these companies serve as proxies for Apple and may benefit from China’s recovery. On the construction play, we believe traders may focus on: (i) SUNCON and GAMUDA amid data center boom, (ii) LSH Capital, which we deem undervalued given its diverse business model and strong orderbook coverage ratio of 7x, and (iii) INTA, supported by a healthy orderbook while trading at undemanding valuations. On the utilities play, we see potential upside in MNHLDG, with results coming in above consensus and pending for flag formation breakout.
Stocks to watch:
Technology: *CORAZA*, EDELTEQ, *FRONTKN*, *MCLEAN*, MI, *NE*, WENTEL
Property: *ECOWLD*
Utility: RANHILL
Telco: TM
Building Material: UNIQUE
Source: M+ Global
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Good Morning All,
Here’s our IPO note on Express Powerr Solutions Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.31 per share for XPB, representing a 55.0% upside from its IPO price of RM0.20. The valuation is based on a P/E ratio of 15.0x, pegged to the mid-FY26F EPS of 2.05 sen.
While there are no directly comparable local listed peers in XPB’s niche segment, we believe XPB will command a valuation similar to companies in TNB’s value chain and related companies like MNHLDG, UUE, JTGROUP, PWRWELL, and SCGBHD as XPB is viewed as a key proxy for TNB. They are trading around 15.4x-18.2x for the forward and historical P/E, respectively.
Moreover, since there are no comparable listed peers, we have also benchmarked XPB against the global peers that have exposure towards light machinery industry which may serve as a reference for future rerating catalysts. These global peers are trading at P/E ratios of around 19.8-21.6x.
Research Team, M+
27 August 2025
Here’s our IPO note on Express Powerr Solutions Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.31 per share for XPB, representing a 55.0% upside from its IPO price of RM0.20. The valuation is based on a P/E ratio of 15.0x, pegged to the mid-FY26F EPS of 2.05 sen.
While there are no directly comparable local listed peers in XPB’s niche segment, we believe XPB will command a valuation similar to companies in TNB’s value chain and related companies like MNHLDG, UUE, JTGROUP, PWRWELL, and SCGBHD as XPB is viewed as a key proxy for TNB. They are trading around 15.4x-18.2x for the forward and historical P/E, respectively.
Moreover, since there are no comparable listed peers, we have also benchmarked XPB against the global peers that have exposure towards light machinery industry which may serve as a reference for future rerating catalysts. These global peers are trading at P/E ratios of around 19.8-21.6x.
Research Team, M+
27 August 2025
M+ Global Market Wrap - 27Aug25
FBM KLCI: 1,585.02 pts (+6.32pts, +0.40%)
Tracking Wall Street’s positive overnight performance, Wednesday’s session saw traders piling into Industrial Products & Services heavyweights. However, Wall Street futures are flat at the time of writing, as market participants are adopting a “wait-and-see” approach ahead of NVIDIA’s earnings later tonight. Market breadth was neutral, with gainers and losers at a 1-to-1 ratio. On the broader market, Consumer Products & Services outperformed with SIME (+28.0 sen) and PETDAG (+68.0 sen), while the REITs (-0.28%) sector recorded the steepest decline for the session.
Top 3 Active stocks:
SIME (4197): RM1.900 (+0.28 sen)
TANCO (2429): RM0.720 (unch)
PHARMA (7081): RM0.175 (+0.5 sen)
Volume: 3.09 bn (100-bar avg vol: 2.97 bn)
Value: RM2.93 bn (100-bar avg val: RM2.38 bn)
Market Breadth: ⬆️558⬇️511
Crude palm oil: RM4,496 (+RM26)
Dow Futures: 45,497 pts (+8 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,585.02 pts (+6.32pts, +0.40%)
Tracking Wall Street’s positive overnight performance, Wednesday’s session saw traders piling into Industrial Products & Services heavyweights. However, Wall Street futures are flat at the time of writing, as market participants are adopting a “wait-and-see” approach ahead of NVIDIA’s earnings later tonight. Market breadth was neutral, with gainers and losers at a 1-to-1 ratio. On the broader market, Consumer Products & Services outperformed with SIME (+28.0 sen) and PETDAG (+68.0 sen), while the REITs (-0.28%) sector recorded the steepest decline for the session.
Top 3 Active stocks:
SIME (4197): RM1.900 (+0.28 sen)
TANCO (2429): RM0.720 (unch)
PHARMA (7081): RM0.175 (+0.5 sen)
Volume: 3.09 bn (100-bar avg vol: 2.97 bn)
Value: RM2.93 bn (100-bar avg val: RM2.38 bn)
Market Breadth: ⬆️558⬇️511
Crude palm oil: RM4,496 (+RM26)
Dow Futures: 45,497 pts (+8 pts)
**Source: M+ Global, Bloomberg **
Good Evening All,
We issued a technical buy call on Chewy Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Strong customer service reputation
(ii) Expansion into Canada
(iii) Anticipation of margin expansion
Research Team, M+
27 August 2025
We issued a technical buy call on Chewy Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Strong customer service reputation
(ii) Expansion into Canada
(iii) Anticipation of margin expansion
Research Team, M+
27 August 2025
M+ Morning Market Buzz - 28Aug25
Dow Jones: 45,565.23 pts (+147.16pts, +0.32%)
⬆️ Resistance: 46700
⬇️ Support: 43700
FBM KLCI: 1,587.91 pts (+6.32pts, +0.40%)
⬆️ Resistance: 1650
⬇️ Support: 1550
HSI Index: 25,201.76 pts (-323.16pts, -1.27%)
⬆️ Resistance: 26500
⬇️ Support: 24600
Crude Palm Oil: RM4,488 (-RM5, -0.11%)
⬆️ Resistance: 4660
⬇️ Support: 4360
Brent Oil: $68.05 (+$0.83, +1.23%)
⬆️ Resistance: 70.50
⬇️ Support: 65.50
Gold: $3,397.37 (-$1.10, -0.03%)
⬆️ Resistance: 3470
⬇️ Support: 3260
Source: Bloomberg, M+ Global
Dow Jones: 45,565.23 pts (+147.16pts, +0.32%)
⬆️ Resistance: 46700
⬇️ Support: 43700
FBM KLCI: 1,587.91 pts (+6.32pts, +0.40%)
⬆️ Resistance: 1650
⬇️ Support: 1550
HSI Index: 25,201.76 pts (-323.16pts, -1.27%)
⬆️ Resistance: 26500
⬇️ Support: 24600
Crude Palm Oil: RM4,488 (-RM5, -0.11%)
⬆️ Resistance: 4660
⬇️ Support: 4360
Brent Oil: $68.05 (+$0.83, +1.23%)
⬆️ Resistance: 70.50
⬇️ Support: 65.50
Gold: $3,397.37 (-$1.10, -0.03%)
⬆️ Resistance: 3470
⬇️ Support: 3260
Source: Bloomberg, M+ Global
M+ Global Market Update – 28Aug25
Technology Stocks May Be Favoured
US: Wall Street extended its gains, with the S&P 500 closing at a record high. Post-market, Nvidia announced results that topped estimates and issued upbeat guidance but flagged uncertainty over China sales amid US chip restrictions, stating it “has not assumed any H2 shipments to China” in its outlook. At the time of writing, Wall Street futures are in the red, while Nvidia's stock dropped 3% in post-market trading. Meanwhile, the Fed's independence came into focus after President Donald Trump moved to oust Governor Lisa Cook over alleged mortgage fraud, creating concerns about political interference as calls for immediate rate cuts persist. All three commodities including Brent oil, gold and CPO also edged higher toward USD68/bbl, USD3,397/oz and RM4,488/MT respectively.
MY: We expect the local bourse to track the Wall Street movements, but the upside might be limited as Nvidia’s results caused the stock to fall 3% in after-market trading. However, we still favour technology names like FRONTKN and INARI, given their roles as proxies for Apple, TSMC, and Broadcom. In the Utilities sector, YTLPOWR and MNHLDG remain our top picks, supported by the former’s position as the country’s AI leader and the latter’s strong quarterly results alongside a breakout continuation pattern. Lastly, traders can look for trading opportunities in solar-related counters such as SLVEST, PEKAT, and NORTHERN.
Stocks to watch:
Construction: *HEGROUP*, *JTGROUP*, SUNCON
Technology: *FRONTKN*, NE, SNS
Utility: GASMSIA, *MALAKOF*
Automotive: *BETAMEK*
Finance: OSK
Gloves: KOSSAN
Source: M+ Global
Technology Stocks May Be Favoured
US: Wall Street extended its gains, with the S&P 500 closing at a record high. Post-market, Nvidia announced results that topped estimates and issued upbeat guidance but flagged uncertainty over China sales amid US chip restrictions, stating it “has not assumed any H2 shipments to China” in its outlook. At the time of writing, Wall Street futures are in the red, while Nvidia's stock dropped 3% in post-market trading. Meanwhile, the Fed's independence came into focus after President Donald Trump moved to oust Governor Lisa Cook over alleged mortgage fraud, creating concerns about political interference as calls for immediate rate cuts persist. All three commodities including Brent oil, gold and CPO also edged higher toward USD68/bbl, USD3,397/oz and RM4,488/MT respectively.
MY: We expect the local bourse to track the Wall Street movements, but the upside might be limited as Nvidia’s results caused the stock to fall 3% in after-market trading. However, we still favour technology names like FRONTKN and INARI, given their roles as proxies for Apple, TSMC, and Broadcom. In the Utilities sector, YTLPOWR and MNHLDG remain our top picks, supported by the former’s position as the country’s AI leader and the latter’s strong quarterly results alongside a breakout continuation pattern. Lastly, traders can look for trading opportunities in solar-related counters such as SLVEST, PEKAT, and NORTHERN.
Stocks to watch:
Construction: *HEGROUP*, *JTGROUP*, SUNCON
Technology: *FRONTKN*, NE, SNS
Utility: GASMSIA, *MALAKOF*
Automotive: *BETAMEK*
Finance: OSK
Gloves: KOSSAN
Source: M+ Global
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