M+ Global Market Update – 15Mar26
Selling Pressure May Be Sustained
US: Given that little progress has been made in de-escalating the US–Iran conflict, we expect negative sentiment to persist on Wall Street. Meanwhile, gold, which is perceived as a ‘safe-haven’ asset, has averaged below USD 5,100/oz since the conflict began. This represents a significant divergence from historical norms; typically, geopolitical shocks trigger a 10–15% risk premium in gold prices. Instead, the metal remains suppressed even as a widening US deficit and falling real yields create an ideal macroeconomic environment for a rally. Thus, we favour gold miners such as Newmont Corporation and SSR Mining in the near to mid-term
MY: We believe the negative sentiment may spill over to the local market, with the closure of the Strait of Hormuz remaining a focal point. Higher spot rates, alongside cost pass-throughs from charterers, could benefit MISC Berhad, while Hibiscus Petroleum Berhad stands as a clear proxy for elevated global oil prices. Regarding oversold plays, solar-related companies are trading at attractive valuations supported by sizeable order books, as well as supportive government initiatives such as LSS5+, even though China has announced a timeline for ending export subsidies for solar PV components, causing a surge in panel prices.
Stocks to watch:
Building Material: CSCSTEL, *MCEMENT*, TOPMIX
Healthcare: *HARTA*, *KOSSAN*, KPJ
Financial: ABMB, RHBBANK
Plastic: TGUAN
Consumer: 99SMART
Plantation: *THPLANT*
Automotive: *BAUTO*
O&G: WASCO
Chemical: *PCHEM*
Utility: *GASMSIA*
**Source: M+ Global**
Selling Pressure May Be Sustained
US: Given that little progress has been made in de-escalating the US–Iran conflict, we expect negative sentiment to persist on Wall Street. Meanwhile, gold, which is perceived as a ‘safe-haven’ asset, has averaged below USD 5,100/oz since the conflict began. This represents a significant divergence from historical norms; typically, geopolitical shocks trigger a 10–15% risk premium in gold prices. Instead, the metal remains suppressed even as a widening US deficit and falling real yields create an ideal macroeconomic environment for a rally. Thus, we favour gold miners such as Newmont Corporation and SSR Mining in the near to mid-term
MY: We believe the negative sentiment may spill over to the local market, with the closure of the Strait of Hormuz remaining a focal point. Higher spot rates, alongside cost pass-throughs from charterers, could benefit MISC Berhad, while Hibiscus Petroleum Berhad stands as a clear proxy for elevated global oil prices. Regarding oversold plays, solar-related companies are trading at attractive valuations supported by sizeable order books, as well as supportive government initiatives such as LSS5+, even though China has announced a timeline for ending export subsidies for solar PV components, causing a surge in panel prices.
Stocks to watch:
Building Material: CSCSTEL, *MCEMENT*, TOPMIX
Healthcare: *HARTA*, *KOSSAN*, KPJ
Financial: ABMB, RHBBANK
Plastic: TGUAN
Consumer: 99SMART
Plantation: *THPLANT*
Automotive: *BAUTO*
O&G: WASCO
Chemical: *PCHEM*
Utility: *GASMSIA*
**Source: M+ Global**
M+ Global Market Wrap - 16Mar26
FBM KLCI: 1,697.72 pts (-1.13pts, -0.07%)
The FBMKLCI(-0.07%) saw a decline as oil prices stayed elevated, aggravated by the bombing of Kharg Island in Iran. The market breadth was negative, with 622 losers against 401 winners. Sector-wise, Plantation (+0.87%) outperformed, led by UTDPLT (+70.0 sen) and SWKPLNT (+19.0 sen) as CPO price surged above RM4,600, while Property (-1.68%) declined the most.
Top 3 Active stocks:
ZETRIX (0138): RM0.775 (+2.5 sen)
TANCO (2429): RM1.380 (-12.0 sen)
PHARMA (7081): RM0.255 (+1.0 sen)
Top 3 Gainer stocks:
UTDPLT (2089): RM33.260 (+70.0 sen)
PETDAG (5681): RM21.900 (+64.0 sen)
MCEMENT (3794): RM6.620 (+47.0 sen)
Top 3 Loser stocks:
APOLLO (6432): RM5.570 (-32.0 sen)
PPB (4065): RM11.140 (-26.0 sen)
ALLIANZ (1163): RM21.160 (-24.0 sen)
Volume: 2.35 bn (100-bar avg vol: 3.21 bn)
Value: RM2.55 bn (100-bar avg val: RM2.91 bn)
Market Breadth: ⬆️401 ⬇️622
Crude Palm Oil: RM4,572 (+RM88, +1.92%)
Dow Futures: 47,020 pts (+134 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,697.72 pts (-1.13pts, -0.07%)
The FBMKLCI(-0.07%) saw a decline as oil prices stayed elevated, aggravated by the bombing of Kharg Island in Iran. The market breadth was negative, with 622 losers against 401 winners. Sector-wise, Plantation (+0.87%) outperformed, led by UTDPLT (+70.0 sen) and SWKPLNT (+19.0 sen) as CPO price surged above RM4,600, while Property (-1.68%) declined the most.
Top 3 Active stocks:
ZETRIX (0138): RM0.775 (+2.5 sen)
TANCO (2429): RM1.380 (-12.0 sen)
PHARMA (7081): RM0.255 (+1.0 sen)
Top 3 Gainer stocks:
UTDPLT (2089): RM33.260 (+70.0 sen)
PETDAG (5681): RM21.900 (+64.0 sen)
MCEMENT (3794): RM6.620 (+47.0 sen)
Top 3 Loser stocks:
APOLLO (6432): RM5.570 (-32.0 sen)
PPB (4065): RM11.140 (-26.0 sen)
ALLIANZ (1163): RM21.160 (-24.0 sen)
Volume: 2.35 bn (100-bar avg vol: 3.21 bn)
Value: RM2.55 bn (100-bar avg val: RM2.91 bn)
Market Breadth: ⬆️401 ⬇️622
Crude Palm Oil: RM4,572 (+RM88, +1.92%)
Dow Futures: 47,020 pts (+134 pts)
**Source: M+ Global, Bloomberg **
👏2
M+ Morning Market Buzz - 17Mar26
Dow Jones: 46,946.41 pts (+387.94pts, +0.83%)
⬆️ Resistance: 49200
⬇️ Support: 45600
FBM KLCI: 1,696.56 pts (-2.29pts, -0.13%)
⬆️ Resistance: 1750
⬇️ Support: 1660
HSI Index: 25,834.02 pts (+368.42pts, +1.45%)
⬆️ Resistance: 26700
⬇️ Support: 24900
Crude Palm Oil: RM4,654 (-RM51, -1.10%)
⬆️ Resistance: 4780
⬇️ Support: 4290
Brent Oil: $100.21 (-$2.93, -2.84%)
⬆️ Resistance: 108.70
⬇️ Support: 79.60
Gold: $5,006.41 (-$6.44, -0.13%)
⬆️ Resistance: 5350
⬇️ Support: 4870
Source: Bloomberg, M+ Global
Dow Jones: 46,946.41 pts (+387.94pts, +0.83%)
⬆️ Resistance: 49200
⬇️ Support: 45600
FBM KLCI: 1,696.56 pts (-2.29pts, -0.13%)
⬆️ Resistance: 1750
⬇️ Support: 1660
HSI Index: 25,834.02 pts (+368.42pts, +1.45%)
⬆️ Resistance: 26700
⬇️ Support: 24900
Crude Palm Oil: RM4,654 (-RM51, -1.10%)
⬆️ Resistance: 4780
⬇️ Support: 4290
Brent Oil: $100.21 (-$2.93, -2.84%)
⬆️ Resistance: 108.70
⬇️ Support: 79.60
Gold: $5,006.41 (-$6.44, -0.13%)
⬆️ Resistance: 5350
⬇️ Support: 4870
Source: Bloomberg, M+ Global
😁2
M+ Global Market Update – 17Mar26
Bargain Hunting May Emerge
US: Wall Street began the week on a stronger footing, despite the prospect of retaliation from Washington against Iran’s energy facilities should Tehran continue to disrupt traffic through the Strait of Hormuz. However, we believe the fundamental drivers of the AI trade remain intact, underpinned by robust capital expenditure from hyperscalers. The memory industry, where rack lifecycles can be as short as four weeks—should benefit Applied Materials, given its dominance in advanced packaging. We view this as a crucial process for integrating and bundling increasingly complex AI chipsets.
MY: Closer to home, we expect a recovery in local market sentiment following the Wall Street overnight rebound. Regarding stock picks, we favour TMK, as its products are widely utilised across various industrial sectors and serve as foundational building blocks for the E&E and semiconductor industries. Given its exposure to Singapore, Micron Technology’s capacity ramp-up, should place TMK in a prime position to capitalise on the cyclical upswing. Meanwhile, we expect crude prices to stabilise above $90/bbl, as little progress has been made in de-escalating regional conflicts, which may benefit HIBISCS and HENGYUAN in the near term
Stocks to watch:
Plantation: *TAANN*, *THPLANT*, UTDPLT
O&G: HENGYUAN, HIBISCS
Construction: *CBHB*, SUNCON
Consumer: *GCB*
Utilities: *IAB*
Financial: *MNRB*
Building Material: PMETAL
**Source: M+ Global**
Bargain Hunting May Emerge
US: Wall Street began the week on a stronger footing, despite the prospect of retaliation from Washington against Iran’s energy facilities should Tehran continue to disrupt traffic through the Strait of Hormuz. However, we believe the fundamental drivers of the AI trade remain intact, underpinned by robust capital expenditure from hyperscalers. The memory industry, where rack lifecycles can be as short as four weeks—should benefit Applied Materials, given its dominance in advanced packaging. We view this as a crucial process for integrating and bundling increasingly complex AI chipsets.
MY: Closer to home, we expect a recovery in local market sentiment following the Wall Street overnight rebound. Regarding stock picks, we favour TMK, as its products are widely utilised across various industrial sectors and serve as foundational building blocks for the E&E and semiconductor industries. Given its exposure to Singapore, Micron Technology’s capacity ramp-up, should place TMK in a prime position to capitalise on the cyclical upswing. Meanwhile, we expect crude prices to stabilise above $90/bbl, as little progress has been made in de-escalating regional conflicts, which may benefit HIBISCS and HENGYUAN in the near term
Stocks to watch:
Plantation: *TAANN*, *THPLANT*, UTDPLT
O&G: HENGYUAN, HIBISCS
Construction: *CBHB*, SUNCON
Consumer: *GCB*
Utilities: *IAB*
Financial: *MNRB*
Building Material: PMETAL
**Source: M+ Global**
FBM KLCI: 1,711.44 pts (+14.88pts, +0.88%)
The FBMKLCI (+0.88%) closed higher at 1711.44pts, buoyed by gains in PCHEM (+37.0 sen) and PBB (+6.0 sen). The market breadth was positive, with 685 winners against 429 losers. Sector-wise, Industrial Products & Services (+1.96%) outperformed, led by PCHEM (+37.0 sen) and MCEMENT (+16.0 sen), while Healthcare (-0.60%) was the sole declining sector for the session. Besides, ADNEX closed positively at RM0.25 vs. IPO price of RM0.20.
Top 3 Active stocks:
PHARMA (7081): RM0.275 (+2.0 sen)
ADNEX (0396): RM0.250 (+5.0 sen)
ZETRIX (0138): RM0.785 (+1.0 sen)
Top 3 Gainer stocks:
UTDPLT (2089): RM34.000 (+74.0 sen)
ALLIANZ (1163): RM21.560 (+40.0 sen)
PCHEM (5183): RM4.950 (+37.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM100.900 (-130.0 sen)
MPI (3867): RM29.720 (-26.0 sen)
DLADY (3026): RM31.800 (-20.0 sen)
Volume: 2.79 bn (100-bar avg vol: 3.20 bn)
Value: RM2.74 bn (100-bar avg val: RM2.90 bn)
Market Breadth: ⬆️685 ⬇️429
Crude Palm Oil: RM4,654 (-RM26, -0.56%)
Dow Futures: 47,154 pts (-135 pts)
**Source: M+ Global, Bloomberg **
The FBMKLCI (+0.88%) closed higher at 1711.44pts, buoyed by gains in PCHEM (+37.0 sen) and PBB (+6.0 sen). The market breadth was positive, with 685 winners against 429 losers. Sector-wise, Industrial Products & Services (+1.96%) outperformed, led by PCHEM (+37.0 sen) and MCEMENT (+16.0 sen), while Healthcare (-0.60%) was the sole declining sector for the session. Besides, ADNEX closed positively at RM0.25 vs. IPO price of RM0.20.
Top 3 Active stocks:
PHARMA (7081): RM0.275 (+2.0 sen)
ADNEX (0396): RM0.250 (+5.0 sen)
ZETRIX (0138): RM0.785 (+1.0 sen)
Top 3 Gainer stocks:
UTDPLT (2089): RM34.000 (+74.0 sen)
ALLIANZ (1163): RM21.560 (+40.0 sen)
PCHEM (5183): RM4.950 (+37.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM100.900 (-130.0 sen)
MPI (3867): RM29.720 (-26.0 sen)
DLADY (3026): RM31.800 (-20.0 sen)
Volume: 2.79 bn (100-bar avg vol: 3.20 bn)
Value: RM2.74 bn (100-bar avg val: RM2.90 bn)
Market Breadth: ⬆️685 ⬇️429
Crude Palm Oil: RM4,654 (-RM26, -0.56%)
Dow Futures: 47,154 pts (-135 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 18Mar26
Dow Jones: 46,993.26 pts (+46.85pts, +0.10%)
⬆️ Resistance: 48700
⬇️ Support: 45600
FBM KLCI: 1,710.99 pts (+14.43pts, +0.85%)
⬆️ Resistance: 1750
⬇️ Support: 1660
HSI Index: 25,868.54 pts (+34.52pts, +0.13%)
⬆️ Resistance: 26800
⬇️ Support: 24900
Crude Palm Oil: RM4,581 (+RM10, +0.22%)
⬆️ Resistance: 4780
⬇️ Support: 4310
Brent Oil: $103.42 (+$3.21, +3.20%)
⬆️ Resistance: 108.70
⬇️ Support: 84.60
Gold: $5,005.61 (-$6.84, -0.22%)
⬆️ Resistance: 5330
⬇️ Support: 4870
Source: Bloomberg, M+ Global
Dow Jones: 46,993.26 pts (+46.85pts, +0.10%)
⬆️ Resistance: 48700
⬇️ Support: 45600
FBM KLCI: 1,710.99 pts (+14.43pts, +0.85%)
⬆️ Resistance: 1750
⬇️ Support: 1660
HSI Index: 25,868.54 pts (+34.52pts, +0.13%)
⬆️ Resistance: 26800
⬇️ Support: 24900
Crude Palm Oil: RM4,581 (+RM10, +0.22%)
⬆️ Resistance: 4780
⬇️ Support: 4310
Brent Oil: $103.42 (+$3.21, +3.20%)
⬆️ Resistance: 108.70
⬇️ Support: 84.60
Gold: $5,005.61 (-$6.84, -0.22%)
⬆️ Resistance: 5330
⬇️ Support: 4870
Source: Bloomberg, M+ Global
😍2
M+ Global Market Update – 18Mar26
Oil Prices Remain Elevated Above USD100/Barrel
US: Despite the rejection by NATO and US allies of President Trump’s proposal to deploy their navies to the Strait of Hormuz, which led Wall Street to trade higher, we believe that uncertainty in the Middle East could persist longer than expected, creating a highly volatile trading environment. With oil prices remaining elevated above USD 100/barrel, buying interest has been observed in XOM and CVX, while intensified Middle East tensions should bode well for RTX, which is currently pending a breakout. Lastly, we view favourably the news of AT&T partnering with CSCO and NVDA to build an AI grid for IoT, which allows AT&T to transition from a traditional telco to a high-margin AI infrastructure provider.
MY: In view of the rebound on Wall Street, we believe the local market will continue to trend higher. Meanwhile, following PNB’s rejection of Sunway’s offer to acquire IJM at RM3.15 per share, citing an intrinsic value gap, supported by IJM’s plan to list its construction and toll road businesses within the next two years, coupled with an unbilled order book of approximately RM9.6bn, we anticipate that buying interest will re-emerge in IJM. Also, Sunway Healthcare Berhad (M+ TP: RM1.51) will be listed on the Main Market today; we believe it may attract decent buying interest and has the potential to be included in the FBMKLCI in the future.
Stocks to watch:
Construction: MNHLDG, *SUNCON*
Building Material: CSCSTEL, *MSC*
Technology: GOHUB, *VSTECS*
Plantation: TAANN, *UTDPLT*
Consumer: *BAUTO*
Utilities: *IAB*
Financial: AMBANK
Healthcare: *KPJ*
Telco: TIMECOM
**Source: M+ Global**
Oil Prices Remain Elevated Above USD100/Barrel
US: Despite the rejection by NATO and US allies of President Trump’s proposal to deploy their navies to the Strait of Hormuz, which led Wall Street to trade higher, we believe that uncertainty in the Middle East could persist longer than expected, creating a highly volatile trading environment. With oil prices remaining elevated above USD 100/barrel, buying interest has been observed in XOM and CVX, while intensified Middle East tensions should bode well for RTX, which is currently pending a breakout. Lastly, we view favourably the news of AT&T partnering with CSCO and NVDA to build an AI grid for IoT, which allows AT&T to transition from a traditional telco to a high-margin AI infrastructure provider.
MY: In view of the rebound on Wall Street, we believe the local market will continue to trend higher. Meanwhile, following PNB’s rejection of Sunway’s offer to acquire IJM at RM3.15 per share, citing an intrinsic value gap, supported by IJM’s plan to list its construction and toll road businesses within the next two years, coupled with an unbilled order book of approximately RM9.6bn, we anticipate that buying interest will re-emerge in IJM. Also, Sunway Healthcare Berhad (M+ TP: RM1.51) will be listed on the Main Market today; we believe it may attract decent buying interest and has the potential to be included in the FBMKLCI in the future.
Stocks to watch:
Construction: MNHLDG, *SUNCON*
Building Material: CSCSTEL, *MSC*
Technology: GOHUB, *VSTECS*
Plantation: TAANN, *UTDPLT*
Consumer: *BAUTO*
Utilities: *IAB*
Financial: AMBANK
Healthcare: *KPJ*
Telco: TIMECOM
**Source: M+ Global**
😁2👍1
M+ Global Market Wrap - 18Mar26
FBM KLCI: 1,728.18 pts (+17.19pts, +1.00%)
The FBMKLCI (+1.00%) closed higher at 1728.18pts, buoyed by sentiment spilled over from Wall Street as tension faded. Meanwhile, the newly-listed-IPO SUNMED (+40.0 sen) surged strongly to close at RM1.85 vs IPO price of RM1.45 and contributed to buying support in SUNWAY (+23.0 sen). The market breadth was positive, with 656 winners against 481 losers. Sector-wise, Utilities (+1.47%) outperformed, led by YTL (+4.0 sen) and TENAGA (+4.0 sen), while Energy (-0.79%) declined the most.
Top 3 Active stocks:
SUNMED (5555): RM1.850 (+40.0 sen)
ZETRIX (0138): RM0.790 (+0.5 sen)
MRCB (1651): RM0.285 (-0.5 sen)
Top 3 Gainer stocks:
MPI (3867): RM30.200 (+48.0 sen)
IHH (5225): RM9.390 (+46.0 sen)
HLBANK (5819): RM23.200 (+40.0 sen)
Top 3 Loser stocks:
PBB (4065): RM11.040 (-36.0 sen)
ALLIANZ (1163): RM21.220 (-34.0 sen)
APOLLO (6432): RM5.490 (-23.0 sen)
Volume: 3.22 bn (100-bar avg vol: 3.20 bn)
Value: RM4.00 bn (100-bar avg val: RM2.90 bn)
Market Breadth: ⬆️656 ⬇️481
Crude Palm Oil: RM4,581 (-RM41, -0.90%)
Dow Futures: 47,590 pts (+242 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,728.18 pts (+17.19pts, +1.00%)
The FBMKLCI (+1.00%) closed higher at 1728.18pts, buoyed by sentiment spilled over from Wall Street as tension faded. Meanwhile, the newly-listed-IPO SUNMED (+40.0 sen) surged strongly to close at RM1.85 vs IPO price of RM1.45 and contributed to buying support in SUNWAY (+23.0 sen). The market breadth was positive, with 656 winners against 481 losers. Sector-wise, Utilities (+1.47%) outperformed, led by YTL (+4.0 sen) and TENAGA (+4.0 sen), while Energy (-0.79%) declined the most.
Top 3 Active stocks:
SUNMED (5555): RM1.850 (+40.0 sen)
ZETRIX (0138): RM0.790 (+0.5 sen)
MRCB (1651): RM0.285 (-0.5 sen)
Top 3 Gainer stocks:
MPI (3867): RM30.200 (+48.0 sen)
IHH (5225): RM9.390 (+46.0 sen)
HLBANK (5819): RM23.200 (+40.0 sen)
Top 3 Loser stocks:
PBB (4065): RM11.040 (-36.0 sen)
ALLIANZ (1163): RM21.220 (-34.0 sen)
APOLLO (6432): RM5.490 (-23.0 sen)
Volume: 3.22 bn (100-bar avg vol: 3.20 bn)
Value: RM4.00 bn (100-bar avg val: RM2.90 bn)
Market Breadth: ⬆️656 ⬇️481
Crude Palm Oil: RM4,581 (-RM41, -0.90%)
Dow Futures: 47,590 pts (+242 pts)
**Source: M+ Global, Bloomberg **
M+ Global Market Update – 19Mar26
Fed Remained Interest Rate Unchanged
US: In view of stronger-than-expected US PPI data, the Fed keeping the interest rates unchanged and coupled with the ongoing Middle East tensions, we believe sentiment will remain weak for Wall Street in the near term. However, as Nvidia CEO Jensen Huang guided that Nvidia AI chip sales could hit $1 trillion by 2027, alongside Micron’s outperformance and upcoming capex plans, we believe the outlook remains robust for semiconductor and AI-related companies. This should benefit stocks such as Vertiv Holdings, Lam Research, and Applied Materials. The latter also benefits from the surge in demand for advanced packaging tools and HBM, driven by the need to bundle more specialised equipment and complex AI chipsets.
MY: We expect the negative sentiment to spill over to the local front. However, the strong debut of SUNMED yesterday may provide upside to the parent company, while the premium valuation may act as a potential re-rating catalyst for the other healthcare stocks such as IHH, KPJ, and PMCK. Meanwhile, solar stock prices have begun to show bottoming signals as investors engage in value-picking, supported by strong order books and favourable government initiatives. Lastly, we favour the breakout in RANHILL, as the group is defensive and enjoys stronger margins following the water tariff hike.
Stocks to watch:
Technology: *CORAZA*, GOHUB, *KGB*
Automotive: *BAUTO*, *BETA*
Financial: *CIMB*, HLBANK
Construction: *PWRWELL*
Consumer: SEMICO
Property: SUNWAY
Plastic: TGUAN
Healthcare: IHH
**Source: M+ Global**
Fed Remained Interest Rate Unchanged
US: In view of stronger-than-expected US PPI data, the Fed keeping the interest rates unchanged and coupled with the ongoing Middle East tensions, we believe sentiment will remain weak for Wall Street in the near term. However, as Nvidia CEO Jensen Huang guided that Nvidia AI chip sales could hit $1 trillion by 2027, alongside Micron’s outperformance and upcoming capex plans, we believe the outlook remains robust for semiconductor and AI-related companies. This should benefit stocks such as Vertiv Holdings, Lam Research, and Applied Materials. The latter also benefits from the surge in demand for advanced packaging tools and HBM, driven by the need to bundle more specialised equipment and complex AI chipsets.
MY: We expect the negative sentiment to spill over to the local front. However, the strong debut of SUNMED yesterday may provide upside to the parent company, while the premium valuation may act as a potential re-rating catalyst for the other healthcare stocks such as IHH, KPJ, and PMCK. Meanwhile, solar stock prices have begun to show bottoming signals as investors engage in value-picking, supported by strong order books and favourable government initiatives. Lastly, we favour the breakout in RANHILL, as the group is defensive and enjoys stronger margins following the water tariff hike.
Stocks to watch:
Technology: *CORAZA*, GOHUB, *KGB*
Automotive: *BAUTO*, *BETA*
Financial: *CIMB*, HLBANK
Construction: *PWRWELL*
Consumer: SEMICO
Property: SUNWAY
Plastic: TGUAN
Healthcare: IHH
**Source: M+ Global**
👍3👏1
M+ Morning Market Buzz - 19Mar26
Dow Jones: 46,225.15 pts (-768.11pts, -1.63%)
⬆️ Resistance: 48400
⬇️ Support: 45300
FBM KLCI: 1,729.81 pts (+18.82pts, +1.10%)
⬆️ Resistance: 1770
⬇️ Support: 1660
HSI Index: 26,025.42 pts (+156.88pts, +0.61%)
⬆️ Resistance: 26800
⬇️ Support: 24900
Crude Palm Oil: RM4,528 (+RM64, +1.41%)
⬆️ Resistance: 4780
⬇️ Support: 4380
Brent Oil: $107.38 (+$4.32, +3.83%)
⬆️ Resistance: 114.20
⬇️ Support: 93.30
Gold: $4,818.50 (+$25.30, +0.29%)
⬆️ Resistance: 5300
⬇️ Support: 4720
Source: Bloomberg, M+ Global
Dow Jones: 46,225.15 pts (-768.11pts, -1.63%)
⬆️ Resistance: 48400
⬇️ Support: 45300
FBM KLCI: 1,729.81 pts (+18.82pts, +1.10%)
⬆️ Resistance: 1770
⬇️ Support: 1660
HSI Index: 26,025.42 pts (+156.88pts, +0.61%)
⬆️ Resistance: 26800
⬇️ Support: 24900
Crude Palm Oil: RM4,528 (+RM64, +1.41%)
⬆️ Resistance: 4780
⬇️ Support: 4380
Brent Oil: $107.38 (+$4.32, +3.83%)
⬆️ Resistance: 114.20
⬇️ Support: 93.30
Gold: $4,818.50 (+$25.30, +0.29%)
⬆️ Resistance: 5300
⬇️ Support: 4720
Source: Bloomberg, M+ Global
👏2
Good Morning All,
We issued a technical buy call on Oasis Home Holding Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Appointed as the exclusive online distributor for FIFA World Cup 2026 merchandise
(ii) Strategic Joint Ventures in Wellness Segment
(iii) Another JV that opens up the Singapore market
Research Team, M+
19 March 2026
We issued a technical buy call on Oasis Home Holding Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Appointed as the exclusive online distributor for FIFA World Cup 2026 merchandise
(ii) Strategic Joint Ventures in Wellness Segment
(iii) Another JV that opens up the Singapore market
Research Team, M+
19 March 2026
M+ Global Market Wrap - 19Mar26
FBM KLCI: 1,720.71 pts (-9.10pts, -0.53%)
The FBMKLCI (-0.53%) closed lower at 1720.71pts, following the jump in oil prices as Iran's South Pars gas field were affected. The market breadth was negative, with 707 losers against 442 winners. Sector-wise, Industrial Production (+1.41%) outperformed, led by PCHEM (+58.0 sen) and PMETAL (+11.0 sen), while REIT (-3.45%) declined the most as Malaysia stops giving preferential rate for REIT withholding tax.
Top 3 Active stocks:
SUNMED (5555): RM1.900 (+5.0 sen)
PCHEM (5183): RM5.480 (+58.0 sen)
TANCO (2429): RM1.400 (UNCH)
Top 3 Gainer stocks:
UTDPLT (2089): RM34.820 (+84.0 sen)
PCHEM (5183): RM5.480 (+58.0 sen)
PPB (4065): RM11.600 (+56.0 sen)
Top 3 Loser stocks:
F&N (3689): RM29.300 (-250.0 sen)
PETGAS (6033): RM16.800 (-112.0 sen)
MPI (3867): RM29.600 (-60.0 sen)
Volume: 3.36 bn (100-bar avg vol: 3.20 bn)
Value: RM4.96 bn (100-bar avg val: RM2.92 bn)
Market Breadth: ⬆️442 ⬇️707
Crude Palm Oil: RM4,528 (+RM89, +1.97%)
Dow Futures: 46,456 pts (-79 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,720.71 pts (-9.10pts, -0.53%)
The FBMKLCI (-0.53%) closed lower at 1720.71pts, following the jump in oil prices as Iran's South Pars gas field were affected. The market breadth was negative, with 707 losers against 442 winners. Sector-wise, Industrial Production (+1.41%) outperformed, led by PCHEM (+58.0 sen) and PMETAL (+11.0 sen), while REIT (-3.45%) declined the most as Malaysia stops giving preferential rate for REIT withholding tax.
Top 3 Active stocks:
SUNMED (5555): RM1.900 (+5.0 sen)
PCHEM (5183): RM5.480 (+58.0 sen)
TANCO (2429): RM1.400 (UNCH)
Top 3 Gainer stocks:
UTDPLT (2089): RM34.820 (+84.0 sen)
PCHEM (5183): RM5.480 (+58.0 sen)
PPB (4065): RM11.600 (+56.0 sen)
Top 3 Loser stocks:
F&N (3689): RM29.300 (-250.0 sen)
PETGAS (6033): RM16.800 (-112.0 sen)
MPI (3867): RM29.600 (-60.0 sen)
Volume: 3.36 bn (100-bar avg vol: 3.20 bn)
Value: RM4.96 bn (100-bar avg val: RM2.92 bn)
Market Breadth: ⬆️442 ⬇️707
Crude Palm Oil: RM4,528 (+RM89, +1.97%)
Dow Futures: 46,456 pts (-79 pts)
**Source: M+ Global, Bloomberg **
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Good Evening All,
We issued a technical buy call on Curtiss-Wright Corporation: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Record backlog providing solid revenue visibility
(ii) Capturing the nuclear and military logistics upcycle
(iii) Bullish 2026 guidance and margin expansion
Research Team, M+
19 March 2026
We issued a technical buy call on Curtiss-Wright Corporation: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Record backlog providing solid revenue visibility
(ii) Capturing the nuclear and military logistics upcycle
(iii) Bullish 2026 guidance and margin expansion
Research Team, M+
19 March 2026
M+ Morning Market Buzz - 24Mar26
Dow Jones: 46,208.47 pts (+631.00pts, +1.38%)
⬆️ Resistance: 48400
⬇️ Support: 44500
FBM KLCI: 1,720.71 pts (-9.10pts, -0.53%)
⬆️ Resistance: 1780
⬇️ Support: 1670
HSI Index: 24,382.47 pts (-894.85pts, -3.54%)
⬆️ Resistance: 26800
⬇️ Support: 23800
Crude Palm Oil: RM4,611 (+RM83, +1.83%)
⬆️ Resistance: 4740
⬇️ Support: 4380
Brent Oil: $99.94 (-$12.25, -10.92%)
⬆️ Resistance: 121.60
⬇️ Support: 94.10
Gold: $4,407.18 (+$27.18, +0.62%)
⬆️ Resistance: 5150
⬇️ Support: 4020
Source: Bloomberg, M+ Global
Dow Jones: 46,208.47 pts (+631.00pts, +1.38%)
⬆️ Resistance: 48400
⬇️ Support: 44500
FBM KLCI: 1,720.71 pts (-9.10pts, -0.53%)
⬆️ Resistance: 1780
⬇️ Support: 1670
HSI Index: 24,382.47 pts (-894.85pts, -3.54%)
⬆️ Resistance: 26800
⬇️ Support: 23800
Crude Palm Oil: RM4,611 (+RM83, +1.83%)
⬆️ Resistance: 4740
⬇️ Support: 4380
Brent Oil: $99.94 (-$12.25, -10.92%)
⬆️ Resistance: 121.60
⬇️ Support: 94.10
Gold: $4,407.18 (+$27.18, +0.62%)
⬆️ Resistance: 5150
⬇️ Support: 4020
Source: Bloomberg, M+ Global
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M+ Global Market Update – 24Mar26
Wall Street Rebounded As U.S. Paused Attacks
US: Following President Trump’s decision to pause strikes on Iran’s power plants for the five days, citing ‘productive’ discussions, we believe Wall Street is poised for a rebound. Although global markets remain uncertain regarding the duration of the Middle East conflict, we view any further downward pressure as a 'buy-on-the-dip' opportunity for SPY, VOO, and QQQ. Meanwhile, investors are monitoring Apple’s growth potential following the leaked iPhone 18 lineup, the introduction of the MacBook Neo, and robust demand for the Mac Mini driven by the OpenClaw agent. These factors may trigger a ‘super-cycle’ for AAPL; thus, we view Apple as a favourable entry opportunity, given it is hovering above a key support zone.
MY: Following President Trump’s decision to pause strikes on Iranian power plants, we anticipate the FBM KLCI will extend its bullish momentum. On the REIT, as the IRB decided to withdraw preferential rates for REIT withholding tax, it may be viewed less appealing to investors, we believe for dividend hunters, this might shift towards banking stocks in the near term. Nevertheless, in view of the further retracement in REIT prices, IGBREIT, IGBCR, and SUNREIT may be favoured as they continue to demonstrate strong tenant retention and effective asset enhancement initiatives. Finally, counters such as ViTrox, Coraza, and TSH present attractive trading setups.
Stocks to watch:
O&G: DIALOG, HIBISCS, *WASCO*
Automotive: *BAUTO*, BETA, SIME
Chemical: SAMCHEM, *TMK*
Financial: AMBANK
Technology: *VSTECS*
Plantation: *JPG*
Healthcare: *HARTA*
**Source: M+ Global**
Wall Street Rebounded As U.S. Paused Attacks
US: Following President Trump’s decision to pause strikes on Iran’s power plants for the five days, citing ‘productive’ discussions, we believe Wall Street is poised for a rebound. Although global markets remain uncertain regarding the duration of the Middle East conflict, we view any further downward pressure as a 'buy-on-the-dip' opportunity for SPY, VOO, and QQQ. Meanwhile, investors are monitoring Apple’s growth potential following the leaked iPhone 18 lineup, the introduction of the MacBook Neo, and robust demand for the Mac Mini driven by the OpenClaw agent. These factors may trigger a ‘super-cycle’ for AAPL; thus, we view Apple as a favourable entry opportunity, given it is hovering above a key support zone.
MY: Following President Trump’s decision to pause strikes on Iranian power plants, we anticipate the FBM KLCI will extend its bullish momentum. On the REIT, as the IRB decided to withdraw preferential rates for REIT withholding tax, it may be viewed less appealing to investors, we believe for dividend hunters, this might shift towards banking stocks in the near term. Nevertheless, in view of the further retracement in REIT prices, IGBREIT, IGBCR, and SUNREIT may be favoured as they continue to demonstrate strong tenant retention and effective asset enhancement initiatives. Finally, counters such as ViTrox, Coraza, and TSH present attractive trading setups.
Stocks to watch:
O&G: DIALOG, HIBISCS, *WASCO*
Automotive: *BAUTO*, BETA, SIME
Chemical: SAMCHEM, *TMK*
Financial: AMBANK
Technology: *VSTECS*
Plantation: *JPG*
Healthcare: *HARTA*
**Source: M+ Global**
👍1
M+ Global Market Wrap - 24Mar26
FBM KLCI: 1,708.76 pts (-11.95pts, -0.69%)
The FBMKLCI (-0.69%) closed lower at 1708.76pts as Iran denied talks with US to end the war, aggravated by Saudi Arabia's announcement to cut oil exports to Asia. The market breadth was negative, with 967 losers against 283 winners. None of the sectors traded in the green, however, Utilities (-0.23%), led by YTL (+203.0sen) and TENAGA (-101.5sen) declined the least, while Technology (-2.23%) declining the most.
Top 3 Active stocks:
BORNOIL (7036): RM0.005 (-0.5 sen)
ZETRIX (0138): RM0.735 (-5.0 sen)
SUNMED (5555): RM2.000 (+10.0sen)
Top 3 Gainer stocks:
PETGAS (6033): RM17.860 (+106.0 sen)
F&N (3689): RM29.720 (+42.0 sen)
PCHEM (5183): RM5.800 (+32.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM98.440 (-196.0 sen)
UTDPLT (2089): RM33.820 (-100.0 sen)
HLFG (1082): RM19.300 (-70.0 sen)
Volume: 3.35 bn (100-bar avg vol: 3.20 bn)
Value: RM4.03 bn (100-bar avg val: RM2.95 bn)
Market Breadth: ⬆️283 ⬇️967
Crude Palm Oil: RM4,611 (-RM76, -1.65%)
Dow Futures: 46,378 pts (-144 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,708.76 pts (-11.95pts, -0.69%)
The FBMKLCI (-0.69%) closed lower at 1708.76pts as Iran denied talks with US to end the war, aggravated by Saudi Arabia's announcement to cut oil exports to Asia. The market breadth was negative, with 967 losers against 283 winners. None of the sectors traded in the green, however, Utilities (-0.23%), led by YTL (+203.0sen) and TENAGA (-101.5sen) declined the least, while Technology (-2.23%) declining the most.
Top 3 Active stocks:
BORNOIL (7036): RM0.005 (-0.5 sen)
ZETRIX (0138): RM0.735 (-5.0 sen)
SUNMED (5555): RM2.000 (+10.0sen)
Top 3 Gainer stocks:
PETGAS (6033): RM17.860 (+106.0 sen)
F&N (3689): RM29.720 (+42.0 sen)
PCHEM (5183): RM5.800 (+32.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM98.440 (-196.0 sen)
UTDPLT (2089): RM33.820 (-100.0 sen)
HLFG (1082): RM19.300 (-70.0 sen)
Volume: 3.35 bn (100-bar avg vol: 3.20 bn)
Value: RM4.03 bn (100-bar avg val: RM2.95 bn)
Market Breadth: ⬆️283 ⬇️967
Crude Palm Oil: RM4,611 (-RM76, -1.65%)
Dow Futures: 46,378 pts (-144 pts)
**Source: M+ Global, Bloomberg **
👏2
Good Evening All,
We issued a company update report on our coverage stock IGB Commercial REIT: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
The Inland Revenue Board (IRB) has discontinued the 10% preferential withholding tax (WHT) rate on Real Estate Investment Trust (REIT) dividend distributions starting 2026. Under the new framework, resident individuals will be taxed based on their prevailing personal income tax rates, while foreign individuals will face a 30% tax rate and non-resident corporations a final withholding tax rate of 24%. The policy shift follows the government’s view that Malaysia’s REIT market has matured and may no longer require continued fiscal incentives.
Maintain BUY with a lower TP of RM0.67. As the REIT sector lost its advantage of having 10% preferential tax treatment, we expect the sector to experience a moderate downward valuation rerating. While we maintain our Buy recommendation for IGBCR, we lowered down the TP from RM0.75 to RM0.67. The target price is derived based on a targeted yield of 6.0% (from 5.5%) on its FY26f EPU of 4.02 sen, implying a P/E multiple of 16.7x.
Research Team, M+
24 March 2026
We issued a company update report on our coverage stock IGB Commercial REIT: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
The Inland Revenue Board (IRB) has discontinued the 10% preferential withholding tax (WHT) rate on Real Estate Investment Trust (REIT) dividend distributions starting 2026. Under the new framework, resident individuals will be taxed based on their prevailing personal income tax rates, while foreign individuals will face a 30% tax rate and non-resident corporations a final withholding tax rate of 24%. The policy shift follows the government’s view that Malaysia’s REIT market has matured and may no longer require continued fiscal incentives.
Maintain BUY with a lower TP of RM0.67. As the REIT sector lost its advantage of having 10% preferential tax treatment, we expect the sector to experience a moderate downward valuation rerating. While we maintain our Buy recommendation for IGBCR, we lowered down the TP from RM0.75 to RM0.67. The target price is derived based on a targeted yield of 6.0% (from 5.5%) on its FY26f EPU of 4.02 sen, implying a P/E multiple of 16.7x.
Research Team, M+
24 March 2026
😁3
M+ Morning Market Buzz - 25Mar26
Dow Jones: 46,124.06 pts (-84.41pts, -0.18%)
⬆️ Resistance: 47900
⬇️ Support: 44500
FBM KLCI: 1,708.76 pts (-11.95pts, -0.69%)
⬆️ Resistance: 1780
⬇️ Support: 1670
HSI Index: 25,063.71 pts (+681.24pts, +2.79%)
⬆️ Resistance: 26700
⬇️ Support: 23800
Crude Palm Oil: RM4,537 (+RM4, +0.09%)
⬆️ Resistance: 4740
⬇️ Support: 4380
Brent Oil: $104.49 (+$4.55, +4.55%)
⬆️ Resistance: 121.60
⬇️ Support: 94.10
Gold: $4,475.51 (+$8.46, +0.19%)
⬆️ Resistance: 5120
⬇️ Support: 4020
Source: Bloomberg, M+ Global
Dow Jones: 46,124.06 pts (-84.41pts, -0.18%)
⬆️ Resistance: 47900
⬇️ Support: 44500
FBM KLCI: 1,708.76 pts (-11.95pts, -0.69%)
⬆️ Resistance: 1780
⬇️ Support: 1670
HSI Index: 25,063.71 pts (+681.24pts, +2.79%)
⬆️ Resistance: 26700
⬇️ Support: 23800
Crude Palm Oil: RM4,537 (+RM4, +0.09%)
⬆️ Resistance: 4740
⬇️ Support: 4380
Brent Oil: $104.49 (+$4.55, +4.55%)
⬆️ Resistance: 121.60
⬇️ Support: 94.10
Gold: $4,475.51 (+$8.46, +0.19%)
⬆️ Resistance: 5120
⬇️ Support: 4020
Source: Bloomberg, M+ Global
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M+ Global Market Update – 25Mar26
Stocks Dip After Iran Rejects Peace Talk Reports
US: Given Iran denies Trump’s claims regarding productive peace talks, it has led to a rebound in oil prices and energy-related stocks continue to attract strong buying interest. Meanwhile, we view the recent decline in core ETFs, such as VOO, SPY, and QQQ, as attractive 'buy-on-the-dip' opportunities. Besides, a breakout was observed in Fabrinet, underpinned by (i) the ramp-up of its 1.6T optical transceivers required for Nvidia’s Blackwell-series GPU clusters, and (ii) robust momentum in HPC, with quarterly revenue projected to nearly double. Lastly, Western Digital and Seagate appear poised for triangle breakouts, supported by surging demand for HDD storage following massive AI-related capital expenditure.
MY: Amid ongoing uncertainty in the Middle East and continued volatility in oil prices, we expect the risk-off environment to persist in the local bourse. This may favour energy and chemical counters such as DIALOG, HENGYUAN, and PCHEM. Should Iran persist in its threats to close the Strait of Hormuz, MISC could benefit, as the shipping line can command higher spot rates and pass war-risk premiums on to charterers. Finally, despite the IRB discontinuing the 10% preferential withholding tax (WHT) rate on REITs, we have observed 'hammer' candlestick patterns forming across most REITs, potentially signalling the start of value-picking activities.
Stocks to watch:
Chemical: *CROPMATE*, PCHEM, *TMK*
Technology: *CORAZA*, *KGB*
Plantation: IOICORP, *JPG*
Consumer: *SEMICO*
O&G: HENGYUAN
Construction: MNHLDG
**Source: M+ Global**
Stocks Dip After Iran Rejects Peace Talk Reports
US: Given Iran denies Trump’s claims regarding productive peace talks, it has led to a rebound in oil prices and energy-related stocks continue to attract strong buying interest. Meanwhile, we view the recent decline in core ETFs, such as VOO, SPY, and QQQ, as attractive 'buy-on-the-dip' opportunities. Besides, a breakout was observed in Fabrinet, underpinned by (i) the ramp-up of its 1.6T optical transceivers required for Nvidia’s Blackwell-series GPU clusters, and (ii) robust momentum in HPC, with quarterly revenue projected to nearly double. Lastly, Western Digital and Seagate appear poised for triangle breakouts, supported by surging demand for HDD storage following massive AI-related capital expenditure.
MY: Amid ongoing uncertainty in the Middle East and continued volatility in oil prices, we expect the risk-off environment to persist in the local bourse. This may favour energy and chemical counters such as DIALOG, HENGYUAN, and PCHEM. Should Iran persist in its threats to close the Strait of Hormuz, MISC could benefit, as the shipping line can command higher spot rates and pass war-risk premiums on to charterers. Finally, despite the IRB discontinuing the 10% preferential withholding tax (WHT) rate on REITs, we have observed 'hammer' candlestick patterns forming across most REITs, potentially signalling the start of value-picking activities.
Stocks to watch:
Chemical: *CROPMATE*, PCHEM, *TMK*
Technology: *CORAZA*, *KGB*
Plantation: IOICORP, *JPG*
Consumer: *SEMICO*
O&G: HENGYUAN
Construction: MNHLDG
**Source: M+ Global**
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M+ Global Market Wrap - 25Mar26
FBM KLCI: 1,716.68 pts (+7.92pts, +0.46%)
The FBMKLCI (+0.46%) closed higher at 1716.68pts as reports of the ceasefire in Iran eased investors' sentiment. The market breadth was postivie, with 582 winners against 507 losers. Sector wise, Finance (+0.93%) outperformed, led by PBBANK (+7.0sen) and MAYBANK (+10.0sen) as the government announced immediate implementation of early intervention measures to maintain the country's economic resilience amidst the conflict in Iran. In the meantime, Plantation (-0.68%) declined the most.
Top 3 Active stocks:
ZETRIX (0138): RM0.750 (+1.5 sen)
SUNMED (5555): RM2.120 (+12.0 sen)
BORNOIL (7036): RM0.005 (UNCH)
Top 3 Gainer stocks:
HEIM (3255): RM23.040 (+84.0 sen)
UMSINT (5340): RM4.910 (+31.0 sen)
CEPCO (8435): RM1.990 (+27.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM98.000 (-44.0 sen)
PCHEM (5183): RM5.460 (-34.0 sen)
KLK (2445): RM19.600 (-22.0 sen)
Volume: 2.91 bn (100-bar avg vol: 3.19 bn)
Value: RM3.26 bn (100-bar avg val: RM2.96 bn)
Market Breadth: ⬆️582 ⬇️507
Crude Palm Oil: RM4,537 (-RM57, -1.26%)
Dow Futures: 46,854 pts (+439 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,716.68 pts (+7.92pts, +0.46%)
The FBMKLCI (+0.46%) closed higher at 1716.68pts as reports of the ceasefire in Iran eased investors' sentiment. The market breadth was postivie, with 582 winners against 507 losers. Sector wise, Finance (+0.93%) outperformed, led by PBBANK (+7.0sen) and MAYBANK (+10.0sen) as the government announced immediate implementation of early intervention measures to maintain the country's economic resilience amidst the conflict in Iran. In the meantime, Plantation (-0.68%) declined the most.
Top 3 Active stocks:
ZETRIX (0138): RM0.750 (+1.5 sen)
SUNMED (5555): RM2.120 (+12.0 sen)
BORNOIL (7036): RM0.005 (UNCH)
Top 3 Gainer stocks:
HEIM (3255): RM23.040 (+84.0 sen)
UMSINT (5340): RM4.910 (+31.0 sen)
CEPCO (8435): RM1.990 (+27.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM98.000 (-44.0 sen)
PCHEM (5183): RM5.460 (-34.0 sen)
KLK (2445): RM19.600 (-22.0 sen)
Volume: 2.91 bn (100-bar avg vol: 3.19 bn)
Value: RM3.26 bn (100-bar avg val: RM2.96 bn)
Market Breadth: ⬆️582 ⬇️507
Crude Palm Oil: RM4,537 (-RM57, -1.26%)
Dow Futures: 46,854 pts (+439 pts)
**Source: M+ Global, Bloomberg **
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