M+ Global Market Update – 27Oct25
US-Malaysia Ink Historic Trade Deals
US: As the earnings season started in the US, Microsoft, Alphabet, Meta, Apple, and Amazon will release their third-quarter earnings this week and we think traders will look for catalysts that would justify AI’s rally as well as its sustainability. Following the robust results from TSMC and ASML, we believe this reflects strong AI demand, with the latter’s strong CapEx guidance expected to drive the AI trend going forward. Moreover, Google says its latest chip has delivered results that constitute a quantum computing breakthrough using a technique called Quantum Echoes that outperforms traditional computers.
MY: With US-MY inking a historic reciprocal trade deal, we expect that the KLCI has further room to run, particularly within technology and glove stocks. After the latest rebound, glove’s average PE ratio stood at 50x, all of which have shifted lower from ~120x early this year. Hence, we think with the recent US-MY deal, Malaysian gloves will be attractive relative to China glove manufacturers given the widened rate differential. We like KOSSAN, given its focus on specialty gloves, which command higher margins, while HARTA has undertaken initiatives that eventually may enhance operational efficiency. We believe technology stocks will trade broadly higher following the positive sentiment from US-MY meeting.
Stocks to watch:
Technology: *3REN*, *EDELTEQ*, FRONTKN, MCLEAN
Automotive: *BETA*, *MCEHLDG*
Utility: MALAKOF, YTL
Construction: *PESONA*
Gaming: GENTING
Consumer: MFLOUR
Source: M+ Global
US-Malaysia Ink Historic Trade Deals
US: As the earnings season started in the US, Microsoft, Alphabet, Meta, Apple, and Amazon will release their third-quarter earnings this week and we think traders will look for catalysts that would justify AI’s rally as well as its sustainability. Following the robust results from TSMC and ASML, we believe this reflects strong AI demand, with the latter’s strong CapEx guidance expected to drive the AI trend going forward. Moreover, Google says its latest chip has delivered results that constitute a quantum computing breakthrough using a technique called Quantum Echoes that outperforms traditional computers.
MY: With US-MY inking a historic reciprocal trade deal, we expect that the KLCI has further room to run, particularly within technology and glove stocks. After the latest rebound, glove’s average PE ratio stood at 50x, all of which have shifted lower from ~120x early this year. Hence, we think with the recent US-MY deal, Malaysian gloves will be attractive relative to China glove manufacturers given the widened rate differential. We like KOSSAN, given its focus on specialty gloves, which command higher margins, while HARTA has undertaken initiatives that eventually may enhance operational efficiency. We believe technology stocks will trade broadly higher following the positive sentiment from US-MY meeting.
Stocks to watch:
Technology: *3REN*, *EDELTEQ*, FRONTKN, MCLEAN
Automotive: *BETA*, *MCEHLDG*
Utility: MALAKOF, YTL
Construction: *PESONA*
Gaming: GENTING
Consumer: MFLOUR
Source: M+ Global
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M+ Morning Market Buzz - 27Oct25
Dow Jones: 47,207.12 pts (+472.51pts, +1.01%)
⬆ Resistance: 48300
⬇ Support: 45400
FBM KLCI: 1,613.27 pts (+5.27pts, +0.33%)
⬆ Resistance: 1650
⬇ Support: 1570
HSI Index: 26,160.15 pts (+192.17pts, +0.74%)
⬆ Resistance: 26900
⬇ Support: 25100
Crude Palm Oil: RM4,422 (-RM49, -1.10%)
⬆ Resistance: 4670
⬇ Support: 4330
Brent Oil: $65.94 (+$0.49, +0.67%)
⬆ Resistance: 68.20
⬇ Support: 58.90
Gold: $4,113.05 (-$45.09, -1.26%)
⬆ Resistance: 4470
⬇ Support: 3930
Source: Bloomberg, M+ Global
Dow Jones: 47,207.12 pts (+472.51pts, +1.01%)
⬆ Resistance: 48300
⬇ Support: 45400
FBM KLCI: 1,613.27 pts (+5.27pts, +0.33%)
⬆ Resistance: 1650
⬇ Support: 1570
HSI Index: 26,160.15 pts (+192.17pts, +0.74%)
⬆ Resistance: 26900
⬇ Support: 25100
Crude Palm Oil: RM4,422 (-RM49, -1.10%)
⬆ Resistance: 4670
⬇ Support: 4330
Brent Oil: $65.94 (+$0.49, +0.67%)
⬆ Resistance: 68.20
⬇ Support: 58.90
Gold: $4,113.05 (-$45.09, -1.26%)
⬆ Resistance: 4470
⬇ Support: 3930
Source: Bloomberg, M+ Global
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M+ Global Market Wrap - 27Oct25
FBM KLCI: 1,617.75 pts (+4.48pts, +0.28%)
The FBMKLCI (+0.32%) continued to rise in positive territory as the US-Malaysia trade deal boosted the sentiment across the board. the trade deal maintained the tariff rate at 19%, and exempting over 1,700 key Malaysian exports. Market breadth was, however flattish with winner-to-losers ratio stood at 1-to-1. Sector-wise, Plantation (+1.35%) was the most outperformed sector, led by SDG (+15.0 sen), while Energy (-1.00%) was the most underperformed sector, dragged by YINSON (-3.0 sen).
Top 3 Active stocks:
XOXTECH (0017): RM0.080 (+1.0 sen)
ZETRIX (0138): RM0.850 (+1.0 sen)
INARI (0166): RM2.610 (+10.0 sen)
Volume: 3.44 bn (100-bar avg vol: 3.07 bn)
Value: RM2.91 bn (100-bar avg val: RM2.58 bn)
Market Breadth: ⬆️543 ⬇️544
Crude Palm Oil: RM4,422 (-RM63, -1.42%)
Dow Futures: 47,654 pts (+258 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,617.75 pts (+4.48pts, +0.28%)
The FBMKLCI (+0.32%) continued to rise in positive territory as the US-Malaysia trade deal boosted the sentiment across the board. the trade deal maintained the tariff rate at 19%, and exempting over 1,700 key Malaysian exports. Market breadth was, however flattish with winner-to-losers ratio stood at 1-to-1. Sector-wise, Plantation (+1.35%) was the most outperformed sector, led by SDG (+15.0 sen), while Energy (-1.00%) was the most underperformed sector, dragged by YINSON (-3.0 sen).
Top 3 Active stocks:
XOXTECH (0017): RM0.080 (+1.0 sen)
ZETRIX (0138): RM0.850 (+1.0 sen)
INARI (0166): RM2.610 (+10.0 sen)
Volume: 3.44 bn (100-bar avg vol: 3.07 bn)
Value: RM2.91 bn (100-bar avg val: RM2.58 bn)
Market Breadth: ⬆️543 ⬇️544
Crude Palm Oil: RM4,422 (-RM63, -1.42%)
Dow Futures: 47,654 pts (+258 pts)
**Source: M+ Global, Bloomberg **
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M+ Global Market Update – 28Oct25
Wall Street Hitting Record Highs
US: Wall Street registered fresh record highs on Monday, lifted by optimism that the U.S. and China are nearing a trade deal ahead of the November 1 deadline. Treasury Secretary Bessent said progress in talks has eased the risk of 100% tariffs on Chinese imports, and Presidents Trump and Xi are expected to meet later this week to finalize the agreement. Sentiment was also supported by softer September CPI data, bolstering expectations for a 25bps Fed rate cut. Meanwhile, Qualcomm surged over 11% after unveiling a new AI chip to challenge Nvidia and AMD. Given all the positive developments, we expect Wall Street to remain bullish.
MY: Tracking the positive regional performance and Trump’s recent visit to Malaysia, we believe sentiment will continue to remain positive for the local bourse. Meanwhile, the exemption of palm oil, rubber, and cocoa from 19% U.S. tariffs could boost and sustain buying interest in the Plantation and Commodities sectors. Finally, we are optimistic about the news that AWC Berhad has secured a five-year facilities management contract worth RM82.5m from JKR for buildings in Putrajaya, which is expected to enhance AWC’s earnings visibility and reinforce its recurring revenue base. Technically, AWC experienced a breakout above the MA200 and is expected to continue its higher-low and higher-high pattern.
Stocks to watch:
Technology: *ITMAX*, MMSV, *MPI*
Automotive: *BETA*, *DRBHCOM*
Building Material: *ENGTEX*, MSC
Financial: *MNRB*
Plantation: UTDPLT
Consumer: MFLOUR
Source: M+ Global
Wall Street Hitting Record Highs
US: Wall Street registered fresh record highs on Monday, lifted by optimism that the U.S. and China are nearing a trade deal ahead of the November 1 deadline. Treasury Secretary Bessent said progress in talks has eased the risk of 100% tariffs on Chinese imports, and Presidents Trump and Xi are expected to meet later this week to finalize the agreement. Sentiment was also supported by softer September CPI data, bolstering expectations for a 25bps Fed rate cut. Meanwhile, Qualcomm surged over 11% after unveiling a new AI chip to challenge Nvidia and AMD. Given all the positive developments, we expect Wall Street to remain bullish.
MY: Tracking the positive regional performance and Trump’s recent visit to Malaysia, we believe sentiment will continue to remain positive for the local bourse. Meanwhile, the exemption of palm oil, rubber, and cocoa from 19% U.S. tariffs could boost and sustain buying interest in the Plantation and Commodities sectors. Finally, we are optimistic about the news that AWC Berhad has secured a five-year facilities management contract worth RM82.5m from JKR for buildings in Putrajaya, which is expected to enhance AWC’s earnings visibility and reinforce its recurring revenue base. Technically, AWC experienced a breakout above the MA200 and is expected to continue its higher-low and higher-high pattern.
Stocks to watch:
Technology: *ITMAX*, MMSV, *MPI*
Automotive: *BETA*, *DRBHCOM*
Building Material: *ENGTEX*, MSC
Financial: *MNRB*
Plantation: UTDPLT
Consumer: MFLOUR
Source: M+ Global
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M+ Morning Market Buzz - 28Oct25
Dow Jones: 47,544.59 pts (+337.47pts, +0.71%)
⬆️ Resistance: 48600
⬇️ Support: 45600
FBM KLCI: 1,618.38 pts (+5.11pts, +0.32%)
⬆️ Resistance: 1660
⬇️ Support: 1570
HSI Index: 26,433.70 pts (+273.55pts, +1.05%)
⬆️ Resistance: 27100
⬇️ Support: 25100
Crude Palm Oil: RM4,373 (+RM3, +0.07%)
⬆️ Resistance: 4670
⬇️ Support: 4270
Brent Oil: $65.62 (-$0.32, -0.49%)
⬆️ Resistance: 68.20
⬇️ Support: 59.20
Gold: $3,982.21 (+$18.59, +0.06%)
⬆️ Resistance: 4470
⬇️ Support: 3900
Source: Bloomberg, M+ Global
Dow Jones: 47,544.59 pts (+337.47pts, +0.71%)
⬆️ Resistance: 48600
⬇️ Support: 45600
FBM KLCI: 1,618.38 pts (+5.11pts, +0.32%)
⬆️ Resistance: 1660
⬇️ Support: 1570
HSI Index: 26,433.70 pts (+273.55pts, +1.05%)
⬆️ Resistance: 27100
⬇️ Support: 25100
Crude Palm Oil: RM4,373 (+RM3, +0.07%)
⬆️ Resistance: 4670
⬇️ Support: 4270
Brent Oil: $65.62 (-$0.32, -0.49%)
⬆️ Resistance: 68.20
⬇️ Support: 59.20
Gold: $3,982.21 (+$18.59, +0.06%)
⬆️ Resistance: 4470
⬇️ Support: 3900
Source: Bloomberg, M+ Global
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Good Morning All,
We issued a company update report on our coverage stock AWC Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
AWC Berhad announced that its wholly-owned subsidiary, Ambang Wira Facilities Sdn Bhd, has received a Letter of Acceptance (LoA) from Public Works Department for the facilities management and maintenance of buildings in Kompleks E, Ministry of Education and the Department of National Unity and Integration, Precinct 1, Putrajaya. The five-year contract, valued at RM82.5m, will commence on 1 January 2026 and run until 31 December 2030.
As the share price rallied ahead of this announcement, providing a narrower upside on, we downgrade the recommendation from Buy to Hold with a TP of RM0.805. The target price is derived based on a P/E ratio of 10.0x pegged to mid-FY27f EPS of 8.05 sen.
Research Team, M+
28 October 2025
We issued a company update report on our coverage stock AWC Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
AWC Berhad announced that its wholly-owned subsidiary, Ambang Wira Facilities Sdn Bhd, has received a Letter of Acceptance (LoA) from Public Works Department for the facilities management and maintenance of buildings in Kompleks E, Ministry of Education and the Department of National Unity and Integration, Precinct 1, Putrajaya. The five-year contract, valued at RM82.5m, will commence on 1 January 2026 and run until 31 December 2030.
As the share price rallied ahead of this announcement, providing a narrower upside on, we downgrade the recommendation from Buy to Hold with a TP of RM0.805. The target price is derived based on a P/E ratio of 10.0x pegged to mid-FY27f EPS of 8.05 sen.
Research Team, M+
28 October 2025
M+ Global Market Wrap - 28Oct25
FBM KLCI: 1,613.12 pts (-5.26pts, -0.33%)
The FBMKLCI (-0.30%) closed in the negative territory, in tandem with the Hong Kong and China markets, as the global market traded cautiously ahead of the U.S. Federal Reserve’s interest rate decision. Market breadth was negative with 331 winners against 751 losers. Sector-wise, Construction (+0.73%) was the best-performing sector, led by GAMUDA (+6.0 sen). Health Care (-1.61%) was the worst-performing sector, dragged by IHH (-7.0 sen).
Top 3 Active stocks:
NOVAMSC (0026): RM0.070 (unch)
ZETRIX (0138): RM0.835 (-1.5 sen)
INARI (0166): RM2.640 (+3.0 sen)
Volume: 3.85 bn (100-bar avg vol: 3.07 bn)
Value: RM3.02 bn (100-bar avg val: RM2.59 bn)
Market Breadth: ⬆️331 ⬇️751
Crude Palm Oil: RM4,373 (-RM65, -1.49%)
Dow Futures: 47,701 pts (-11 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,613.12 pts (-5.26pts, -0.33%)
The FBMKLCI (-0.30%) closed in the negative territory, in tandem with the Hong Kong and China markets, as the global market traded cautiously ahead of the U.S. Federal Reserve’s interest rate decision. Market breadth was negative with 331 winners against 751 losers. Sector-wise, Construction (+0.73%) was the best-performing sector, led by GAMUDA (+6.0 sen). Health Care (-1.61%) was the worst-performing sector, dragged by IHH (-7.0 sen).
Top 3 Active stocks:
NOVAMSC (0026): RM0.070 (unch)
ZETRIX (0138): RM0.835 (-1.5 sen)
INARI (0166): RM2.640 (+3.0 sen)
Volume: 3.85 bn (100-bar avg vol: 3.07 bn)
Value: RM3.02 bn (100-bar avg val: RM2.59 bn)
Market Breadth: ⬆️331 ⬇️751
Crude Palm Oil: RM4,373 (-RM65, -1.49%)
Dow Futures: 47,701 pts (-11 pts)
**Source: M+ Global, Bloomberg **
M+ Global Market Update – 29Oct25
Wall Street Optimism May Spillover To Bursa
US: Wall Street registered another record high on Tuesday, buoyed by optimism that the U.S. and China are moving closer to a trade deal ahead of the Trump-Xi meeting this week. Reports suggested Washington may ease certain tariffs if Beijing agrees to curb the export of chemicals used in fentanyl production. The upbeat sentiment was further supported by expectations of a 25bps Fed rate cut this Thursday. Corporate-wise, Amazon announced plans to trim as many as 30,000 jobs to cut costs amid ballooning investments in AI. We believe Wall Street will trade on a slowing uptrend in the near-term until the Trump-Xi meeting concludes.
MY: Tracking the positive overnight performance in the US, we believe sentiment for the local bourse will improve and gain more clarity after the Trump-Xi meeting concludes. Meanwhile, buying interest continues to emerge in CAPITALA and AAX following their technical breakouts, underpinned by CAPITALA’s potential PN17 status uplift by December. Lastly, with DUFU turning profitable in 3Q25 while 9M25 net profit more than doubled, traders can monitor for breakout entry opportunities. We believe DUFU will continue to benefit from the growth in data storage demand, supported by the rapid expansion of AI-driven applications. The price is currently well supported by the EMA20.
Stocks to watch:
Technology: *CREST*, *MPI*
Building Material: *ENGTEX*, MSC
Aviation: *CAPITALA*
Consumer: *DXN*
Financial: AMBANK
Property: KSL
Utility: YTLPOWR
Source: M+ Global
Wall Street Optimism May Spillover To Bursa
US: Wall Street registered another record high on Tuesday, buoyed by optimism that the U.S. and China are moving closer to a trade deal ahead of the Trump-Xi meeting this week. Reports suggested Washington may ease certain tariffs if Beijing agrees to curb the export of chemicals used in fentanyl production. The upbeat sentiment was further supported by expectations of a 25bps Fed rate cut this Thursday. Corporate-wise, Amazon announced plans to trim as many as 30,000 jobs to cut costs amid ballooning investments in AI. We believe Wall Street will trade on a slowing uptrend in the near-term until the Trump-Xi meeting concludes.
MY: Tracking the positive overnight performance in the US, we believe sentiment for the local bourse will improve and gain more clarity after the Trump-Xi meeting concludes. Meanwhile, buying interest continues to emerge in CAPITALA and AAX following their technical breakouts, underpinned by CAPITALA’s potential PN17 status uplift by December. Lastly, with DUFU turning profitable in 3Q25 while 9M25 net profit more than doubled, traders can monitor for breakout entry opportunities. We believe DUFU will continue to benefit from the growth in data storage demand, supported by the rapid expansion of AI-driven applications. The price is currently well supported by the EMA20.
Stocks to watch:
Technology: *CREST*, *MPI*
Building Material: *ENGTEX*, MSC
Aviation: *CAPITALA*
Consumer: *DXN*
Financial: AMBANK
Property: KSL
Utility: YTLPOWR
Source: M+ Global
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M+ Morning Market Buzz - 29Oct25
Dow Jones: 47,706.37 pts (+161.78pts, +0.34%)
⬆️ Resistance: 49000
⬇️ Support: 45600
FBM KLCI: 1,613.56 pts (-4.82pts, -0.30%)
⬆️ Resistance: 1660
⬇️ Support: 1570
HSI Index: 26,346.14 pts (-87.56pts, -0.33%)
⬆️ Resistance: 27100
⬇️ Support: 25100
Crude Palm Oil: RM4,317 (-RM27, -0.63%)
⬆️ Resistance: 4600
⬇️ Support: 4220
Brent Oil: $64.40 (+$0.12, -1.86%)
⬆️ Resistance: 68.20
⬇️ Support: 60.20
Gold: $3,952.14 (+$19.34, -0.28%)
⬆️ Resistance: 4250
⬇️ Support: 3810
Source: Bloomberg, M+ Global
Dow Jones: 47,706.37 pts (+161.78pts, +0.34%)
⬆️ Resistance: 49000
⬇️ Support: 45600
FBM KLCI: 1,613.56 pts (-4.82pts, -0.30%)
⬆️ Resistance: 1660
⬇️ Support: 1570
HSI Index: 26,346.14 pts (-87.56pts, -0.33%)
⬆️ Resistance: 27100
⬇️ Support: 25100
Crude Palm Oil: RM4,317 (-RM27, -0.63%)
⬆️ Resistance: 4600
⬇️ Support: 4220
Brent Oil: $64.40 (+$0.12, -1.86%)
⬆️ Resistance: 68.20
⬇️ Support: 60.20
Gold: $3,952.14 (+$19.34, -0.28%)
⬆️ Resistance: 4250
⬇️ Support: 3810
Source: Bloomberg, M+ Global
M+ Global Market Wrap - 29Oct25
FBM KLCI: 1,611.54 pts (-2.02pts, -0.13%)
The FBMKLCI (-0.13%) slipped into negative territory as investors stayed cautious ahead of the Federal Reserve’s interest rate decision, which the outcome will be concluded at midnight. Market breadth was negative, with 442 gainers against 547 losers. Sector-wise, Industrial Products & Services (+0.71%) was the best-performing sector, led by MCEMENT (+33.0 sen), while Health Care (-1.07%) was the worst-performing sector, dragged by IHH (-0.3 sen).
Top 3 Active stocks:
JAG (0024): RM0.285 (unch)
SYSTECH (0050): RM0.205 (+3.5 sen)
NOTION (0083): RM0.695 (+2.5 sen)
Volume: 2.73 bn (100-bar avg vol: 3.07 bn)
Value: RM2.37 bn (100-bar avg val: RM2.57 bn)
Market Breadth: ⬆️442 ⬇️547
Crude Palm Oil: RM4,317 (-RM73, -1.69%)
Dow Futures: 47,779 pts (-116 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,611.54 pts (-2.02pts, -0.13%)
The FBMKLCI (-0.13%) slipped into negative territory as investors stayed cautious ahead of the Federal Reserve’s interest rate decision, which the outcome will be concluded at midnight. Market breadth was negative, with 442 gainers against 547 losers. Sector-wise, Industrial Products & Services (+0.71%) was the best-performing sector, led by MCEMENT (+33.0 sen), while Health Care (-1.07%) was the worst-performing sector, dragged by IHH (-0.3 sen).
Top 3 Active stocks:
JAG (0024): RM0.285 (unch)
SYSTECH (0050): RM0.205 (+3.5 sen)
NOTION (0083): RM0.695 (+2.5 sen)
Volume: 2.73 bn (100-bar avg vol: 3.07 bn)
Value: RM2.37 bn (100-bar avg val: RM2.57 bn)
Market Breadth: ⬆️442 ⬇️547
Crude Palm Oil: RM4,317 (-RM73, -1.69%)
Dow Futures: 47,779 pts (-116 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 30Oct25
Dow Jones: 47,632.00 pts (-74.37pts, -0.16%)
⬆️ Resistance: 49100
⬇️ Support: 45600
FBM KLCI: 1,611.54 pts (-2.02pts, -0.13%)
⬆️ Resistance: 1660
⬇️ Support: 1570
HSI Index: 26,346.14 pts (-87.56pts, -0.33%)
⬆️ Resistance: 27100
⬇️ Support: 25100
Crude Palm Oil: RM4,252 (+RM34, +0.80%)
⬆️ Resistance: 4570
⬇️ Support: 4150
Brent Oil: $64.92 (+$0.52, +0.81%)
⬆️ Resistance: 68.20
⬇️ Support: 62.60
Gold: $3,930.07 (+$14.70, +0.40%)
⬆️ Resistance: 4240
⬇️ Support: 3810
Source: Bloomberg, M+ Global
Dow Jones: 47,632.00 pts (-74.37pts, -0.16%)
⬆️ Resistance: 49100
⬇️ Support: 45600
FBM KLCI: 1,611.54 pts (-2.02pts, -0.13%)
⬆️ Resistance: 1660
⬇️ Support: 1570
HSI Index: 26,346.14 pts (-87.56pts, -0.33%)
⬆️ Resistance: 27100
⬇️ Support: 25100
Crude Palm Oil: RM4,252 (+RM34, +0.80%)
⬆️ Resistance: 4570
⬇️ Support: 4150
Brent Oil: $64.92 (+$0.52, +0.81%)
⬆️ Resistance: 68.20
⬇️ Support: 62.60
Gold: $3,930.07 (+$14.70, +0.40%)
⬆️ Resistance: 4240
⬇️ Support: 3810
Source: Bloomberg, M+ Global
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M+ Global Market Wrap - 30Oct25
FBM KLCI: 1,614.20 pts (+2.66pts, +0.17%)
The FBMKLCI (+0.17%) closed in positive territory, as investors' confidence rose following the bilateral meeting between President Trump and President Xi, which signalled a softening of US-China trade tensions. Market breadth was however negative with 395 winners and 607 losers. Sector-wise, Plantation (+0.73%) was the best performing sector, led by IOICORP (+4.0 sen), while Technology was the worst performing sector, dragged by MPI (-86.0 sen).
Top 3 Active stocks:
SYSTECH (0050): RM0.210 (+0.5 sen)
ZETRIX (0138): RM0.815 (unch)
MCLEAN (0167): RM0.650 (+5.0 sen)
Volume: 3.46 bn (100-bar avg vol: 3.08 bn)
Value: RM2.62 bn (100-bar avg val: RM2.57 bn)
Market Breadth: ⬆️395 ⬇️607
Crude Palm Oil: RM4,252 (RM0, 0.00%)
Dow Futures: 47,693 pts (-104 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,614.20 pts (+2.66pts, +0.17%)
The FBMKLCI (+0.17%) closed in positive territory, as investors' confidence rose following the bilateral meeting between President Trump and President Xi, which signalled a softening of US-China trade tensions. Market breadth was however negative with 395 winners and 607 losers. Sector-wise, Plantation (+0.73%) was the best performing sector, led by IOICORP (+4.0 sen), while Technology was the worst performing sector, dragged by MPI (-86.0 sen).
Top 3 Active stocks:
SYSTECH (0050): RM0.210 (+0.5 sen)
ZETRIX (0138): RM0.815 (unch)
MCLEAN (0167): RM0.650 (+5.0 sen)
Volume: 3.46 bn (100-bar avg vol: 3.08 bn)
Value: RM2.62 bn (100-bar avg val: RM2.57 bn)
Market Breadth: ⬆️395 ⬇️607
Crude Palm Oil: RM4,252 (RM0, 0.00%)
Dow Futures: 47,693 pts (-104 pts)
**Source: M+ Global, Bloomberg **
M+ Global Market Update – 31Oct25
Tech Stocks Slip Present Buy-On-Dip Opportunity
US: Wall Street retreated further on Thursday as tech weakness overshadowed optimism over easing U.S.-China trade tensions. Following the Trump-Xi meeting, the U.S. agreed to cut tariffs on fentanyl to 10% while China pledged to resume agricultural imports, though most tariffs remained at 47%. Stock wise, Meta and Microsoft fell after announcing plans to ramp up AI spending and data centre expansion, sparking investor concerns over their multi-billion-dollar investments. Meanwhile, we believe the earnings season will continue to dictate the Wall Street direction in the near term.
MY: Tracking the negative overnight performance on Wall Street, we expect the FBMKLCI to trade on a softer note. Nevertheless, despite the selloff in U.S. tech stocks amid investor concerns over large-scale AI investments, we believe these investments will benefit some of the selected local technology names. We particularly like EG (M+ non-rated, fair value: RM2.03), given its ongoing expansion into 5G optical modules and network switches, positioning it to benefit from the global AI megatrend. Other technology counters that could be accumulated include INARI, FRONTKEN, and VITROX, given their decent recovery in fundamentals. Lastly, traders may monitor INFOM and UNISEM for potential trading opportunities.
Stocks to watch:
Technology: *INFOM*, *UNISEM*, UWC
Construction: *GDB*, *UUE*
Financial: AMBANK, RHBBANK
Logistics: SYGROUP
Automotive: *DRBHCOM*
Utility: GASMSIA
Source: M+ Global
Tech Stocks Slip Present Buy-On-Dip Opportunity
US: Wall Street retreated further on Thursday as tech weakness overshadowed optimism over easing U.S.-China trade tensions. Following the Trump-Xi meeting, the U.S. agreed to cut tariffs on fentanyl to 10% while China pledged to resume agricultural imports, though most tariffs remained at 47%. Stock wise, Meta and Microsoft fell after announcing plans to ramp up AI spending and data centre expansion, sparking investor concerns over their multi-billion-dollar investments. Meanwhile, we believe the earnings season will continue to dictate the Wall Street direction in the near term.
MY: Tracking the negative overnight performance on Wall Street, we expect the FBMKLCI to trade on a softer note. Nevertheless, despite the selloff in U.S. tech stocks amid investor concerns over large-scale AI investments, we believe these investments will benefit some of the selected local technology names. We particularly like EG (M+ non-rated, fair value: RM2.03), given its ongoing expansion into 5G optical modules and network switches, positioning it to benefit from the global AI megatrend. Other technology counters that could be accumulated include INARI, FRONTKEN, and VITROX, given their decent recovery in fundamentals. Lastly, traders may monitor INFOM and UNISEM for potential trading opportunities.
Stocks to watch:
Technology: *INFOM*, *UNISEM*, UWC
Construction: *GDB*, *UUE*
Financial: AMBANK, RHBBANK
Logistics: SYGROUP
Automotive: *DRBHCOM*
Utility: GASMSIA
Source: M+ Global
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M+ Morning Market Buzz - 31Oct25
Dow Jones: 47,522.12 pts (-109.88pts, -0.23%)
⬆️ Resistance: 49100
⬇️ Support: 45900
FBM KLCI: 1,614.20 pts (+2.66pts, +0.17%)
⬆️ Resistance: 1660
⬇️ Support: 1580
HSI Index: 26,282.69 pts (-63.45pts, -0.24%)
⬆️ Resistance: 27200
⬇️ Support: 25600
Crude Palm Oil: RM4,260 (+RM9, +0.21%)
⬆️ Resistance: 4570
⬇️ Support: 4150
Brent Oil: $65.00 (-$0.30, +0.12%)
⬆️ Resistance: 68.20
⬇️ Support: 62.70
Gold: $4,024.54 (+$5.23, +0.20%)
⬆️ Resistance: 4230
⬇️ Support: 3810
Source: Bloomberg, M+ Global
Dow Jones: 47,522.12 pts (-109.88pts, -0.23%)
⬆️ Resistance: 49100
⬇️ Support: 45900
FBM KLCI: 1,614.20 pts (+2.66pts, +0.17%)
⬆️ Resistance: 1660
⬇️ Support: 1580
HSI Index: 26,282.69 pts (-63.45pts, -0.24%)
⬆️ Resistance: 27200
⬇️ Support: 25600
Crude Palm Oil: RM4,260 (+RM9, +0.21%)
⬆️ Resistance: 4570
⬇️ Support: 4150
Brent Oil: $65.00 (-$0.30, +0.12%)
⬆️ Resistance: 68.20
⬇️ Support: 62.70
Gold: $4,024.54 (+$5.23, +0.20%)
⬆️ Resistance: 4230
⬇️ Support: 3810
Source: Bloomberg, M+ Global
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Good Morning All,
We issued a company update report on our coverage stock AWC Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
AWC Berhad announced that its wholly-owned subsidiary, Ambang Wira Facilities Sdn Bhd, has received a Letter of Award (LoA) from TM Technology Services Sdn Bhd, a wholly-owned subsidiary of Telekom Malaysia Berhad, for the provision of Integrated Facilities Management (IFM) services for TM Data Centres and Buildings in TM Central 1. The five-year contract, valued at RM99.1m, will commence on 1 November 2025 and run until 31 October 2030.
As the share price has already rallied ahead of this announcement, we maintain our Hold recommendation with a TP of RM0.805. The target price is derived based on a P/E ratio of 10.0x pegged to mid-FY27f EPS of 8.05 sen.
Research Team, M+
31 October 2025
We issued a company update report on our coverage stock AWC Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
AWC Berhad announced that its wholly-owned subsidiary, Ambang Wira Facilities Sdn Bhd, has received a Letter of Award (LoA) from TM Technology Services Sdn Bhd, a wholly-owned subsidiary of Telekom Malaysia Berhad, for the provision of Integrated Facilities Management (IFM) services for TM Data Centres and Buildings in TM Central 1. The five-year contract, valued at RM99.1m, will commence on 1 November 2025 and run until 31 October 2030.
As the share price has already rallied ahead of this announcement, we maintain our Hold recommendation with a TP of RM0.805. The target price is derived based on a P/E ratio of 10.0x pegged to mid-FY27f EPS of 8.05 sen.
Research Team, M+
31 October 2025
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Good Afternoon All,
We issued a technical buy call on Emerson Electric Company: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) High customer switching cost
(ii) AI-powered solutions driving software ACV growth
(iii) Solid financial performance
Research Team, M+
31 October 2025
We issued a technical buy call on Emerson Electric Company: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) High customer switching cost
(ii) AI-powered solutions driving software ACV growth
(iii) Solid financial performance
Research Team, M+
31 October 2025
M+ Global Market Wrap - 31Oct25
FBM KLCI: 1,609.15 pts (-5.05pts, -0.31%)
The FBMKLCI (-0.31%) closed lower in tandem with Hong Kong and China markets, as weaker sentiment from Wall Street, driven by disappointing Big Tech earnings, spilled over to regional markets. Market breadth was negative with 470 winners and 563 losers. Sector-wise, Property (+0.64%) was the best-performing sector, led by SIMEPROP (+5.0 sen), while Construction (-0.95%) was the worst-performing sector, dragged by IJM (-11.0 sen).
Top 3 Active stocks:
NOTION (0083): RM0.750 (+7.0 sen)
ZETRIX (0138): RM0.845 (+3.0 sen)
PTRANS (0186): RM0.340 (-2.5 sen)
Volume: 3.55 bn (100-bar avg vol: 3.09 bn)
Value: RM2.68 bn (100-bar avg val: RM2.58 bn)
Market Breadth: ⬆️470 ⬇️563
Crude Palm Oil: RM4,260 (-RM42, -0.99%)
Dow Futures: 47,729 pts (+52 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,609.15 pts (-5.05pts, -0.31%)
The FBMKLCI (-0.31%) closed lower in tandem with Hong Kong and China markets, as weaker sentiment from Wall Street, driven by disappointing Big Tech earnings, spilled over to regional markets. Market breadth was negative with 470 winners and 563 losers. Sector-wise, Property (+0.64%) was the best-performing sector, led by SIMEPROP (+5.0 sen), while Construction (-0.95%) was the worst-performing sector, dragged by IJM (-11.0 sen).
Top 3 Active stocks:
NOTION (0083): RM0.750 (+7.0 sen)
ZETRIX (0138): RM0.845 (+3.0 sen)
PTRANS (0186): RM0.340 (-2.5 sen)
Volume: 3.55 bn (100-bar avg vol: 3.09 bn)
Value: RM2.68 bn (100-bar avg val: RM2.58 bn)
Market Breadth: ⬆️470 ⬇️563
Crude Palm Oil: RM4,260 (-RM42, -0.99%)
Dow Futures: 47,729 pts (+52 pts)
**Source: M+ Global, Bloomberg **
Good Evening All,
We issued a technical buy call on SoFi Technologies Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Overall, we gathered that shares of fintech lenders such as AFRM, LC, UPST, and KLAR have declined 7.8% YTD. We understand this stems from weaker investor confidence, as these lenders are largely exposed to subprime consumers, which could have a multiplier effect amid signs of a softening labour market.
Nevertheless, SoFi’s shares have held up relatively well compared to peers, supported by its prime borrower base. Also, note that the 2-YR and 5-YR yields have declined by 12 bps and 10 bps on an intraquarter basis, respectively.
For perspective, as investors earn less on government securities in a lower-yield environment, SoFi’s prime-quality loan pools become more appealing, given their better risk-adjusted returns to debt holders; all of which we believe was reflected in its recent robust earnings performance.
Research Team, M+
31 October 2025
We issued a technical buy call on SoFi Technologies Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Overall, we gathered that shares of fintech lenders such as AFRM, LC, UPST, and KLAR have declined 7.8% YTD. We understand this stems from weaker investor confidence, as these lenders are largely exposed to subprime consumers, which could have a multiplier effect amid signs of a softening labour market.
Nevertheless, SoFi’s shares have held up relatively well compared to peers, supported by its prime borrower base. Also, note that the 2-YR and 5-YR yields have declined by 12 bps and 10 bps on an intraquarter basis, respectively.
For perspective, as investors earn less on government securities in a lower-yield environment, SoFi’s prime-quality loan pools become more appealing, given their better risk-adjusted returns to debt holders; all of which we believe was reflected in its recent robust earnings performance.
Research Team, M+
31 October 2025
M+ Morning Market Buzz - 3Nov25
Dow Jones: 47,562.87 pts (+40.75pts, +0.09%)
⬆️ Resistance: 49100
⬇️ Support: 46500
FBM KLCI: 1,609.15 pts (-5.05pts, -0.31%)
⬆️ Resistance: 1660
⬇️ Support: 1580
HSI Index: 25,906.65 pts (-376.04pts, -1.43%)
⬆️ Resistance: 27200
⬇️ Support: 25400
Crude Palm Oil: RM4,207 (-RM53, -1.24%)
⬆️ Resistance: 4540
⬇️ Support: 4120
Brent Oil: $64.77 (+$0.40, +0.62%)
⬆️ Resistance: 68.00
⬇️ Support: 62.70
Gold: $4,002.92 (-$21.62, -0.54%)
⬆️ Resistance: 4200
⬇️ Support: 3810
Source: Bloomberg, M+ Global
Dow Jones: 47,562.87 pts (+40.75pts, +0.09%)
⬆️ Resistance: 49100
⬇️ Support: 46500
FBM KLCI: 1,609.15 pts (-5.05pts, -0.31%)
⬆️ Resistance: 1660
⬇️ Support: 1580
HSI Index: 25,906.65 pts (-376.04pts, -1.43%)
⬆️ Resistance: 27200
⬇️ Support: 25400
Crude Palm Oil: RM4,207 (-RM53, -1.24%)
⬆️ Resistance: 4540
⬇️ Support: 4120
Brent Oil: $64.77 (+$0.40, +0.62%)
⬆️ Resistance: 68.00
⬇️ Support: 62.70
Gold: $4,002.92 (-$21.62, -0.54%)
⬆️ Resistance: 4200
⬇️ Support: 3810
Source: Bloomberg, M+ Global
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M+ Global Market Update – 03Nov25
All Eyes On US-China Trade Deals
US: We expect Wall Street is on track to begin the week in the green, supported by a fresh round of tech earnings that could further boost investor sentiment. For perspective, we noticed Amazon's cloud revenue growing in tandem with Alphabet and Microsoft, reflecting strong AI demand and the potential for AI monetization. Hence, we believe AI momentum is here to stay, supported by tech companies' growing CapEx, which should encourage rising AI adoption and robust cloud growth. Moreover, we think the US and China have made healthy progress toward de-escalating trade tensions, with the main agenda being to ease restrictions on rare earth exports and chips between the two countries.
MY: In view of the positive overnight performance on Wall Street, we expect the KLCI index to follow suit and trade on a firmer note. Moreover, we believe this will support buying interest within the technology sector, with a key focus on high-momentum stocks like KGB, VITROX, and FRONTKN. Moreover, we believe traders may focus on LWSABAH, as we think market participants have yet to price in additional contributions from the 99SMART placement, while the recent Twinine acquisition should further enhance its customer base in Sabah. We think the stock is trading at attractive valuation multiples, with margins standing well above its peers.
Stocks to watch:
Automotive: BETA, *HAPSENG*, *MCEHLDG*
Construction: *GDB*, KERJAYA, *UUE*
Technology: *CORAZA*, FRONTKN
Financial: MNRB
Plantation: INNO
Source: M+ Global
All Eyes On US-China Trade Deals
US: We expect Wall Street is on track to begin the week in the green, supported by a fresh round of tech earnings that could further boost investor sentiment. For perspective, we noticed Amazon's cloud revenue growing in tandem with Alphabet and Microsoft, reflecting strong AI demand and the potential for AI monetization. Hence, we believe AI momentum is here to stay, supported by tech companies' growing CapEx, which should encourage rising AI adoption and robust cloud growth. Moreover, we think the US and China have made healthy progress toward de-escalating trade tensions, with the main agenda being to ease restrictions on rare earth exports and chips between the two countries.
MY: In view of the positive overnight performance on Wall Street, we expect the KLCI index to follow suit and trade on a firmer note. Moreover, we believe this will support buying interest within the technology sector, with a key focus on high-momentum stocks like KGB, VITROX, and FRONTKN. Moreover, we believe traders may focus on LWSABAH, as we think market participants have yet to price in additional contributions from the 99SMART placement, while the recent Twinine acquisition should further enhance its customer base in Sabah. We think the stock is trading at attractive valuation multiples, with margins standing well above its peers.
Stocks to watch:
Automotive: BETA, *HAPSENG*, *MCEHLDG*
Construction: *GDB*, KERJAYA, *UUE*
Technology: *CORAZA*, FRONTKN
Financial: MNRB
Plantation: INNO
Source: M+ Global