Good Morning All,
We issued a technical buy call on MClean Technologies Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) HDD supercycle and data centre boom
(ii) Strategic expansion into JSSEZ
(iii) Diversification into plastic engineering
Research Team, M+ Global
23 April 2026
We issued a technical buy call on MClean Technologies Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) HDD supercycle and data centre boom
(ii) Strategic expansion into JSSEZ
(iii) Diversification into plastic engineering
Research Team, M+ Global
23 April 2026
M+ Global Market Wrap - 23Apr26
FBM KLCI: 1,721.70 pts (+11.31pts, +0.66%)
The FBM KLCI (+0.66%) closed higher at 1721.70 points as positive sentiment from the Wall Street spilled over to local market following Trump's announcement on the Iran war ceasefire. The market breadth was positive, with 706 winners against 485 losers. Sector wise, Industrial Production (+2.19%) outperformed, led by PCHEM (+33.0sen) and PMETAL (+21.0sen), while Plantation (-0.35%) was the sole declining sector. The IPO debutant AMS closed at RM0.305 compared to its IPO price of RM0.290.
Top 3 Active stocks:
VELESTO (5243): RM0.320 (-1.0 sen)
ZETRIX (0138): RM0.865 (+0.5 sen)
AMS (0399): RM0.305 (+1.5 sen)
Top 3 Gainer stocks:
DLADY (3026): RM32.86 (+48.0 sen)
PCHEM (5183): RM5.55 (+33.0 sen)
MPI (3867): RM36.34 (+70.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM98.00 (-74.0 sen)
UTDPLT (2089): RM33.40 (-32.0 sen)
F&N (3689): RM30.70 (-22.0 sen)
Volume: 3.49 bn (100-bar avg vol: 3.05 bn)
Value: RM3.11 bn (100-bar avg val: RM3.04 bn)
Market Breadth: ⬆️706 ⬇️485
Crude Palm Oil: RM4,628 (-RM33, -0.71%)
Dow Futures: 49,343 pts (-325 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,721.70 pts (+11.31pts, +0.66%)
The FBM KLCI (+0.66%) closed higher at 1721.70 points as positive sentiment from the Wall Street spilled over to local market following Trump's announcement on the Iran war ceasefire. The market breadth was positive, with 706 winners against 485 losers. Sector wise, Industrial Production (+2.19%) outperformed, led by PCHEM (+33.0sen) and PMETAL (+21.0sen), while Plantation (-0.35%) was the sole declining sector. The IPO debutant AMS closed at RM0.305 compared to its IPO price of RM0.290.
Top 3 Active stocks:
VELESTO (5243): RM0.320 (-1.0 sen)
ZETRIX (0138): RM0.865 (+0.5 sen)
AMS (0399): RM0.305 (+1.5 sen)
Top 3 Gainer stocks:
DLADY (3026): RM32.86 (+48.0 sen)
PCHEM (5183): RM5.55 (+33.0 sen)
MPI (3867): RM36.34 (+70.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM98.00 (-74.0 sen)
UTDPLT (2089): RM33.40 (-32.0 sen)
F&N (3689): RM30.70 (-22.0 sen)
Volume: 3.49 bn (100-bar avg vol: 3.05 bn)
Value: RM3.11 bn (100-bar avg val: RM3.04 bn)
Market Breadth: ⬆️706 ⬇️485
Crude Palm Oil: RM4,628 (-RM33, -0.71%)
Dow Futures: 49,343 pts (-325 pts)
**Source: M+ Global, Bloomberg **
😁2
M+ Global Market Update – 24Apr26
Wall Street Slipped Amid Simmering US-Iran Tensions
US: Following President Trump’s directive to escalate attacks in the Strait of Hormuz and the stalling of peace talks in Islamabad, we anticipate that Wall Street will adopt a defensive posture as Brent crude holds above the USD 106 level. However, given the earnings outperformance from Texas Instruments driven by sustained demand from data centres and AI infrastructure, we believe market sentiment remains constructive for chipmakers and AI-related counters. We expect any pullback stemming from elevated oil prices should present attractive 'buy-the-dip' opportunities. We maintain a positive outlook on banking stocks, including JPMorgan and Goldman Sachs, supported by their strong earnings results.
MY: Tracking Wall Street’s performance, we expect profit-taking to weigh on the FBM KLCI. Meanwhile, after being oversold since February, buying interest has re-emerged in consumer stocks such as 99SMART, MRDIY, and LWSABAH, potentially signalling value-buying activity. We also note the recent RM 12.2m substation works contract secured by IAB, which further supports its technical breakout. Meanwhile, riding the current AI and semiconductor supercycle, we favour metal fabrication players such as KOBAY, OXB, and AMS as they pivot from basic metalwork to high-specification engineering, which is critical for semiconductors and AI infrastructure.
Stocks to watch:
Technology: *DUFU*, ITMAX, *KGB*, KOBAY
O&G: *ARMADA*, DELEUM
Healthcare: *HARTA*
Utility: *IAB*
Chemical: *TMK*
Financial: *OSK*
Building Material: PMETAL
**Source: M+ Global**
Wall Street Slipped Amid Simmering US-Iran Tensions
US: Following President Trump’s directive to escalate attacks in the Strait of Hormuz and the stalling of peace talks in Islamabad, we anticipate that Wall Street will adopt a defensive posture as Brent crude holds above the USD 106 level. However, given the earnings outperformance from Texas Instruments driven by sustained demand from data centres and AI infrastructure, we believe market sentiment remains constructive for chipmakers and AI-related counters. We expect any pullback stemming from elevated oil prices should present attractive 'buy-the-dip' opportunities. We maintain a positive outlook on banking stocks, including JPMorgan and Goldman Sachs, supported by their strong earnings results.
MY: Tracking Wall Street’s performance, we expect profit-taking to weigh on the FBM KLCI. Meanwhile, after being oversold since February, buying interest has re-emerged in consumer stocks such as 99SMART, MRDIY, and LWSABAH, potentially signalling value-buying activity. We also note the recent RM 12.2m substation works contract secured by IAB, which further supports its technical breakout. Meanwhile, riding the current AI and semiconductor supercycle, we favour metal fabrication players such as KOBAY, OXB, and AMS as they pivot from basic metalwork to high-specification engineering, which is critical for semiconductors and AI infrastructure.
Stocks to watch:
Technology: *DUFU*, ITMAX, *KGB*, KOBAY
O&G: *ARMADA*, DELEUM
Healthcare: *HARTA*
Utility: *IAB*
Chemical: *TMK*
Financial: *OSK*
Building Material: PMETAL
**Source: M+ Global**
M+ Morning Market Buzz - 24Apr26
Dow Jones: 49,490.03 pts (+340.65pts, +0.69%)
⬆️ Resistance: 50900
⬇️ Support: 47900
FBM KLCI: 1,710.39 pts (+11.31pts, +0.66%)
⬆️ Resistance: 1760
⬇️ Support: 1650
HSI Index: 26,163.24 pts (-248.04pts, -0.95%)
⬆️ Resistance: 27100
⬇️ Support: 25400
Crude Palm Oil: RM4,628 (-RM33, -0.71%)
⬆️ Resistance: 4740
⬇️ Support: 4360
Brent Oil: $101.91 (+$2.47, +2.42%)
⬆️ Resistance: 109.60
⬇️ Support: 84.40
Gold: $4,739.90 (-$38.18, -0.81%)
⬆️ Resistance: 4990
⬇️ Support: 4580
Source: Bloomberg, M+ Global
Dow Jones: 49,490.03 pts (+340.65pts, +0.69%)
⬆️ Resistance: 50900
⬇️ Support: 47900
FBM KLCI: 1,710.39 pts (+11.31pts, +0.66%)
⬆️ Resistance: 1760
⬇️ Support: 1650
HSI Index: 26,163.24 pts (-248.04pts, -0.95%)
⬆️ Resistance: 27100
⬇️ Support: 25400
Crude Palm Oil: RM4,628 (-RM33, -0.71%)
⬆️ Resistance: 4740
⬇️ Support: 4360
Brent Oil: $101.91 (+$2.47, +2.42%)
⬆️ Resistance: 109.60
⬇️ Support: 84.40
Gold: $4,739.90 (-$38.18, -0.81%)
⬆️ Resistance: 4990
⬇️ Support: 4580
Source: Bloomberg, M+ Global
👍2😁1
M+ Global Market Wrap - 24Apr26
FBM KLCI: 1,720.34 pts (-1.36pts, -0.08%)
The FBM KLCI (-0.08%) closed lower at 1720.34 points as oil price rose over fear of renewed escalation in the Middle East. The market breadth however was positive, with 575 winners against 529 losers. Sector wise, Technology (+3.55%) outperformed, led by VITROX (+54.0sen) and GREATEC (+30.0sen), while Construction (-1.22%) declined the most.
Top 3 Active stocks:
ZETRIX (0138): RM0.860 (-0.5 sen)
VS (6963): RM0.225 (+2.0 sen)
LUSTER (5068): RM0.040 (UNCH)
Top 3 Gainer stocks:
MPI (3867): RM37.84 (+150.0 sen)
NESTLE (4707): RM99.30 (+130.0 sen)
VITROX (0097): RM5.52 (+54.0 sen)
Top 3 Loser stocks:
F&N (3689): RM30.30 (-40.0 sen)
CHINTEK (1929): RM10.80 (-30.0 sen)
UTDPLT (2089): RM32.32 (-26.0 sen)
Volume: 3.23 bn (100-bar avg vol: 3.04 bn)
Value: RM3.25 bn (100-bar avg val: RM3.04 bn)
Market Breadth: ⬆️575 ⬇️529
Crude Palm Oil: RM4,579 (+RM29, +0.63%)
Dow Futures: 49,306 pts (-184 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,720.34 pts (-1.36pts, -0.08%)
The FBM KLCI (-0.08%) closed lower at 1720.34 points as oil price rose over fear of renewed escalation in the Middle East. The market breadth however was positive, with 575 winners against 529 losers. Sector wise, Technology (+3.55%) outperformed, led by VITROX (+54.0sen) and GREATEC (+30.0sen), while Construction (-1.22%) declined the most.
Top 3 Active stocks:
ZETRIX (0138): RM0.860 (-0.5 sen)
VS (6963): RM0.225 (+2.0 sen)
LUSTER (5068): RM0.040 (UNCH)
Top 3 Gainer stocks:
MPI (3867): RM37.84 (+150.0 sen)
NESTLE (4707): RM99.30 (+130.0 sen)
VITROX (0097): RM5.52 (+54.0 sen)
Top 3 Loser stocks:
F&N (3689): RM30.30 (-40.0 sen)
CHINTEK (1929): RM10.80 (-30.0 sen)
UTDPLT (2089): RM32.32 (-26.0 sen)
Volume: 3.23 bn (100-bar avg vol: 3.04 bn)
Value: RM3.25 bn (100-bar avg val: RM3.04 bn)
Market Breadth: ⬆️575 ⬇️529
Crude Palm Oil: RM4,579 (+RM29, +0.63%)
Dow Futures: 49,306 pts (-184 pts)
**Source: M+ Global, Bloomberg **
👍3
M+ Global Market Update – 27Apr26
Planned Negotiations In Pakistan Cancelled
US: Following the cancellation of the high-stakes Pakistan peace envoy mission and Iran’s warning of retaliation should the US take aggressive action, we anticipate Wall Street will start the week on a subdued note. However, sentiment in the semiconductor theme remains positive, bolstered by Intel’s 15% surge following its robust 1Q26 earnings. Any pullback in semiconductor stocks, driven by valuation concerns, could be an opportunity to buy the dip. Furthermore, with global oil supply constraints potentially encouraging a shift back to remote working, we expect continued tailwinds for video conferencing firms such as Zoom, Microsoft, and Google. Finally, investors will remain focused on this week’s FOMC policy decision.
MY: As the planned US-Iran negotiations in Pakistan appearing unlikely to proceed, we expect the FBMKLCI to open the week on a lacklustre note. Meanwhile, amid the absence of signs of de-escalation in the Middle East, Malaysia is well-positioned to benefit from increased data centre investment due to its reputation as a strategically secure hub. This trend is likely to attract further hyperscalers, bolstering companies such as SUNCON, GAMUDA, MNHLDG, and CBHB. Finally, following Intel’s recent earnings outperformance, any retracement in its proxies, such as 3REN and MPI, should be treated as an opportunity for accumulation.
Stocks to watch:
Construction: CBHB, *HEGROUP*, *MNHLDG*, *PWRWELL*
Technology: *JFTECH*, *MCLEAN*, MPI
Building Material: *MSC*
Solar: *PEKAT*
Financial: OSK
Chemical: SAMCHEM
Property: LBS
Consumer: GCB
**Source: M+ Global**
Planned Negotiations In Pakistan Cancelled
US: Following the cancellation of the high-stakes Pakistan peace envoy mission and Iran’s warning of retaliation should the US take aggressive action, we anticipate Wall Street will start the week on a subdued note. However, sentiment in the semiconductor theme remains positive, bolstered by Intel’s 15% surge following its robust 1Q26 earnings. Any pullback in semiconductor stocks, driven by valuation concerns, could be an opportunity to buy the dip. Furthermore, with global oil supply constraints potentially encouraging a shift back to remote working, we expect continued tailwinds for video conferencing firms such as Zoom, Microsoft, and Google. Finally, investors will remain focused on this week’s FOMC policy decision.
MY: As the planned US-Iran negotiations in Pakistan appearing unlikely to proceed, we expect the FBMKLCI to open the week on a lacklustre note. Meanwhile, amid the absence of signs of de-escalation in the Middle East, Malaysia is well-positioned to benefit from increased data centre investment due to its reputation as a strategically secure hub. This trend is likely to attract further hyperscalers, bolstering companies such as SUNCON, GAMUDA, MNHLDG, and CBHB. Finally, following Intel’s recent earnings outperformance, any retracement in its proxies, such as 3REN and MPI, should be treated as an opportunity for accumulation.
Stocks to watch:
Construction: CBHB, *HEGROUP*, *MNHLDG*, *PWRWELL*
Technology: *JFTECH*, *MCLEAN*, MPI
Building Material: *MSC*
Solar: *PEKAT*
Financial: OSK
Chemical: SAMCHEM
Property: LBS
Consumer: GCB
**Source: M+ Global**
M+ Morning Market Buzz - 27Apr26
Dow Jones: 49,230.71 pts (-79.61pts, -0.16%)
⬆️ Resistance: 49,700
⬇️ Support: 48,862
FBM KLCI: 1,720.34 pts (-1.36pts, -0.08%)
⬆️ Resistance: 1,737
⬇️ Support: 1,700
HSI Index: 25,978.07 pts (+62.87pts, +0.24%)
⬆️ Resistance: 26,560
⬇️ Support: 25,500
Crude Palm Oil: RM4,597 (+RM18, +0.39%)
⬆️ Resistance: 4,650
⬇️ Support: 4,485
Brent Oil: $105.33 (+$2.26, +2.19%)
⬆️ Resistance: 108.50
⬇️ Support: 99.15
Gold: $4,709.27 (-$11.65, -0.24%)
⬆️ Resistance: 4,800
⬇️ Support: 4,684
Source: Bloomberg, M+ Global
Dow Jones: 49,230.71 pts (-79.61pts, -0.16%)
⬆️ Resistance: 49,700
⬇️ Support: 48,862
FBM KLCI: 1,720.34 pts (-1.36pts, -0.08%)
⬆️ Resistance: 1,737
⬇️ Support: 1,700
HSI Index: 25,978.07 pts (+62.87pts, +0.24%)
⬆️ Resistance: 26,560
⬇️ Support: 25,500
Crude Palm Oil: RM4,597 (+RM18, +0.39%)
⬆️ Resistance: 4,650
⬇️ Support: 4,485
Brent Oil: $105.33 (+$2.26, +2.19%)
⬆️ Resistance: 108.50
⬇️ Support: 99.15
Gold: $4,709.27 (-$11.65, -0.24%)
⬆️ Resistance: 4,800
⬇️ Support: 4,684
Source: Bloomberg, M+ Global
👏2
M+ Global Market Wrap - 27Apr26
FBM KLCI: 1,717.27 pts (-3.07pts, -0.18%)
The FBM KLCI (-0.18%) closed lower at 1717.27 points, erasing the gains during midday over rising oil futures. The market bradth was negative, with 579 winners against 599 losers. Sector wise, Technology (+1.98%) outperformed, led by INARI (+24.0sen) and UNISEM (+22.0sen) over strong earnings in the US powering AI bets, while Finance (-1.22%) declined the most.
Top 3 Active stocks:
LUSTER (5068): RM0.040 (UNCH)
INARI (0166): RM2.06 (+24.0 sen)
ZETRIX (0138): RM0.870 (+1.0 sen)
Top 3 Gainer stocks:
TM (4863): RM7.58 (+48.0 sen)
PMETAL (8869): RM8.80 (+38.0 sen)
F&N (3689): RM30.68 (+38.0 sen)
Top 3 Loser stocks:
UTDPLT (2089): RM31.62 (-70.0 sen)
HLBANK (5819): RM22.34 (-44.0 sen)
HLFG (1082): RM19.00 (-30.0 sen)
Volume: 3.74 bn (100-bar avg vol: 3.04 bn)
Value: RM3.30 bn (100-bar avg val: RM3.04 bn)
Market Breadth: ⬆️579 ⬇️599
Crude Palm Oil: RM4,597 (-RM54, -1.17%)
Dow Futures: 49,335 pts (-57 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,717.27 pts (-3.07pts, -0.18%)
The FBM KLCI (-0.18%) closed lower at 1717.27 points, erasing the gains during midday over rising oil futures. The market bradth was negative, with 579 winners against 599 losers. Sector wise, Technology (+1.98%) outperformed, led by INARI (+24.0sen) and UNISEM (+22.0sen) over strong earnings in the US powering AI bets, while Finance (-1.22%) declined the most.
Top 3 Active stocks:
LUSTER (5068): RM0.040 (UNCH)
INARI (0166): RM2.06 (+24.0 sen)
ZETRIX (0138): RM0.870 (+1.0 sen)
Top 3 Gainer stocks:
TM (4863): RM7.58 (+48.0 sen)
PMETAL (8869): RM8.80 (+38.0 sen)
F&N (3689): RM30.68 (+38.0 sen)
Top 3 Loser stocks:
UTDPLT (2089): RM31.62 (-70.0 sen)
HLBANK (5819): RM22.34 (-44.0 sen)
HLFG (1082): RM19.00 (-30.0 sen)
Volume: 3.74 bn (100-bar avg vol: 3.04 bn)
Value: RM3.30 bn (100-bar avg val: RM3.04 bn)
Market Breadth: ⬆️579 ⬇️599
Crude Palm Oil: RM4,597 (-RM54, -1.17%)
Dow Futures: 49,335 pts (-57 pts)
**Source: M+ Global, Bloomberg **
👏3
M+ Morning Market Buzz - 28Apr26
Dow Jones: 49,167.79 pts (-62.92pts, -0.13%)
⬆️ Resistance: 50900
⬇️ Support: 47900
FBM KLCI: 1,717.27 pts (-3.07pts, -0.18%)
⬆️ Resistance: 1770
⬇️ Support: 1670
HSI Index: 25,925.65 pts (-52.42pts, -0.20%)
⬆️ Resistance: 27100
⬇️ Support: 25200
Crude Palm Oil: RM4,534 (+RM11, +0.24%)
⬆️ Resistance: 4740
⬇️ Support: 4380
Brent Oil: $108.23 (+$2.90, +2.75%)
⬆️ Resistance: 112.00
⬇️ Support: 92.00
Gold: $4,682.08 (+$5.74, +0.12%)
⬆️ Resistance: 4930
⬇️ Support: 4570
Source: Bloomberg, M+ Global
Dow Jones: 49,167.79 pts (-62.92pts, -0.13%)
⬆️ Resistance: 50900
⬇️ Support: 47900
FBM KLCI: 1,717.27 pts (-3.07pts, -0.18%)
⬆️ Resistance: 1770
⬇️ Support: 1670
HSI Index: 25,925.65 pts (-52.42pts, -0.20%)
⬆️ Resistance: 27100
⬇️ Support: 25200
Crude Palm Oil: RM4,534 (+RM11, +0.24%)
⬆️ Resistance: 4740
⬇️ Support: 4380
Brent Oil: $108.23 (+$2.90, +2.75%)
⬆️ Resistance: 112.00
⬇️ Support: 92.00
Gold: $4,682.08 (+$5.74, +0.12%)
⬆️ Resistance: 4930
⬇️ Support: 4570
Source: Bloomberg, M+ Global
M+ Global Market Update – 28Apr26
Investors Eyeing On Upcoming Mag-7 Earnings
US: Despite President Trump's scepticism towards Iran's latest proposal, we believe investors' focus is shifting towards the ‘Mag-7’ earnings this Wednesday—including Google, Amazon, Microsoft, and Meta—which are expected to dictate Wall Street’s direction in the short term. Meanwhile, with the path cleared for Kevin Warsh to succeed Jerome Powell as Fed Chair, his stance on AI-driven productivity as a key disinflationary force may continue to favour semiconductor and AI-related equities. Finally, we suggest taking a position in AST SpaceMobile, following its aggressive target of orbiting 45 satellites by the end of 2026, with seven already launched.
MY: While the FBMKLCI has retreated, we believe market sentiment will continue to favour data centre (DC)-related sectors, such as Technology and Utilities; we like MCLEAN, as the Group anticipates rising demand for precision cleaning driven by the HDD supercycle and its share price is supported above the RM0.55–0.58 zone. We are also positive on the recovery in YTLPOWR as the Group benefit from the nation’s DC boom, bolstered by its ongoing collaboration with Nvidia and its stake in RANHILL. Lastly, should SanDisk’s results outperform, this should provide a positive sentiment for AI storage-related counters such as DUFU, JCY, and NOTION.
Stocks to watch:
Technology: FRONTKN, *GOHUB*, *JFTECH*, *MCLEAN*, *SNS*
Building Material: *CSCSTEL*, HIAPTEK, MASTEEL
Construction: *CBHB*
Property: *SPSETIA*
Solar: *PEKAT*
Plantation: THPLANT
O&G: WASCO
**Source: M+ Global**
Investors Eyeing On Upcoming Mag-7 Earnings
US: Despite President Trump's scepticism towards Iran's latest proposal, we believe investors' focus is shifting towards the ‘Mag-7’ earnings this Wednesday—including Google, Amazon, Microsoft, and Meta—which are expected to dictate Wall Street’s direction in the short term. Meanwhile, with the path cleared for Kevin Warsh to succeed Jerome Powell as Fed Chair, his stance on AI-driven productivity as a key disinflationary force may continue to favour semiconductor and AI-related equities. Finally, we suggest taking a position in AST SpaceMobile, following its aggressive target of orbiting 45 satellites by the end of 2026, with seven already launched.
MY: While the FBMKLCI has retreated, we believe market sentiment will continue to favour data centre (DC)-related sectors, such as Technology and Utilities; we like MCLEAN, as the Group anticipates rising demand for precision cleaning driven by the HDD supercycle and its share price is supported above the RM0.55–0.58 zone. We are also positive on the recovery in YTLPOWR as the Group benefit from the nation’s DC boom, bolstered by its ongoing collaboration with Nvidia and its stake in RANHILL. Lastly, should SanDisk’s results outperform, this should provide a positive sentiment for AI storage-related counters such as DUFU, JCY, and NOTION.
Stocks to watch:
Technology: FRONTKN, *GOHUB*, *JFTECH*, *MCLEAN*, *SNS*
Building Material: *CSCSTEL*, HIAPTEK, MASTEEL
Construction: *CBHB*
Property: *SPSETIA*
Solar: *PEKAT*
Plantation: THPLANT
O&G: WASCO
**Source: M+ Global**
M+ Global Market Wrap - 28Apr26
FBM KLCI: 1,729.60 pts (+12.33pts, +0.72%)
Bucking the weak regional performances, the FBM KLCI (+0.72%) closed higher at 1729.60 points as foreign fund flow returned to the local scene, investors position into selected heavyweights. The market breadth was slightly positive, with 629 winners against 626 losers. Sector wise, Property (+2.79%) outperformed, led by IOIPG (+10.0sen) and SPSETIA (+11.0sen), while Technology (-0.51%) declined the most.
Top 3 Active stocks:
LUSTER (5068): RM0.035 (-0.5 sen)
ZETRIX (0138): RM0.860 (-1.0 sen)
UEMS (5148): RM0.665 (+7.5 sen)
Top 3 Gainer stocks:
NESTLE (4707): RM102.30 (+318.0 sen)
F&N (3689): RM31.40 (+72.0 sen)
KESM (9334): RM4.19 (+46.0 sen)
Top 3 Loser stocks:
MPI (3867): RM37.50 (-38.0 sen)
ALLIANZ (1163): RM20.80 (-36.0 sen)
BKAWAN (1899): RM20.98 (-16.0 sen)
Volume: 3.85 bn (100-bar avg vol: 3.04 bn)
Value: RM3.39 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️629 ⬇️626
Crude Palm Oil: RM4,534 (-RM2, -0.04%)
Dow Futures: 49,450 pts (+108 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,729.60 pts (+12.33pts, +0.72%)
Bucking the weak regional performances, the FBM KLCI (+0.72%) closed higher at 1729.60 points as foreign fund flow returned to the local scene, investors position into selected heavyweights. The market breadth was slightly positive, with 629 winners against 626 losers. Sector wise, Property (+2.79%) outperformed, led by IOIPG (+10.0sen) and SPSETIA (+11.0sen), while Technology (-0.51%) declined the most.
Top 3 Active stocks:
LUSTER (5068): RM0.035 (-0.5 sen)
ZETRIX (0138): RM0.860 (-1.0 sen)
UEMS (5148): RM0.665 (+7.5 sen)
Top 3 Gainer stocks:
NESTLE (4707): RM102.30 (+318.0 sen)
F&N (3689): RM31.40 (+72.0 sen)
KESM (9334): RM4.19 (+46.0 sen)
Top 3 Loser stocks:
MPI (3867): RM37.50 (-38.0 sen)
ALLIANZ (1163): RM20.80 (-36.0 sen)
BKAWAN (1899): RM20.98 (-16.0 sen)
Volume: 3.85 bn (100-bar avg vol: 3.04 bn)
Value: RM3.39 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️629 ⬇️626
Crude Palm Oil: RM4,534 (-RM2, -0.04%)
Dow Futures: 49,450 pts (+108 pts)
**Source: M+ Global, Bloomberg **
😁2
M+ Morning Market Buzz - 29Apr26
Dow Jones: 49,141.93 pts (-25.86pts, -0.05%)
⬆️ Resistance: 50700
⬇️ Support: 47900
FBM KLCI: 1,729.60 pts (+12.33pts, +0.72%)
⬆️ Resistance: 1770
⬇️ Support: 1680
HSI Index: 25,679.78 pts (-245.87pts, -0.95%)
⬆️ Resistance: 26900
⬇️ Support: 25100
Crude Palm Oil: RM4,536 (-RM31, -0.68%)
⬆️ Resistance: 4740
⬇️ Support: 4400
Brent Oil: $111.26 (+$3.03, +2.80%)
⬆️ Resistance: 115.00
⬇️ Support: 94.70
Gold: $4,596.75 (-$3.33, -0.07%)
⬆️ Resistance: 4870
⬇️ Support: 4470
Source: Bloomberg, M+ Global
Dow Jones: 49,141.93 pts (-25.86pts, -0.05%)
⬆️ Resistance: 50700
⬇️ Support: 47900
FBM KLCI: 1,729.60 pts (+12.33pts, +0.72%)
⬆️ Resistance: 1770
⬇️ Support: 1680
HSI Index: 25,679.78 pts (-245.87pts, -0.95%)
⬆️ Resistance: 26900
⬇️ Support: 25100
Crude Palm Oil: RM4,536 (-RM31, -0.68%)
⬆️ Resistance: 4740
⬇️ Support: 4400
Brent Oil: $111.26 (+$3.03, +2.80%)
⬆️ Resistance: 115.00
⬇️ Support: 94.70
Gold: $4,596.75 (-$3.33, -0.07%)
⬆️ Resistance: 4870
⬇️ Support: 4470
Source: Bloomberg, M+ Global
👏2
M+ Global Market Update – 29Apr26
Wall Street Slipped On OpenAI’s Growth Concern
US: While OpenAI reportedly missed its internal targets for both Q1 2026 revenue and user growth, sparking sell-offs in AI infrastructure plays, we view this as a healthy correction in chipmakers and AI-related counters. We believe the deceleration at OpenAI is largely attributable to Anthropic’s Claude capturing market share from ChatGPT, which does not suggest that AI growth momentum has peaked. This hypothesis may be validated by the earnings and guidance from Google, Microsoft, Meta, and Amazon later today. Finally, with Brent crude trading above USD 104/barrel, despite the UAE's exit from OPEC and OPEC+, we believe investors may consider positioning in Chevron and Cheniere Energy.
MY: In view of the sell-offs in the US market, we expect profit-taking activity on the local bourse. Meanwhile, following news that UEMS has been identified as a takeover target for privatization, analysts note that the stock is trading at a steep discount to its book value, propelling a surge in the Property sector. While UEMS’ landbank is primarily situated in Johor, other property developers that may attract increased buying interest due to their substantial landbanks in the JSSEZ region include ECOWLD, IOIPROP, and MAHSING. Also, we remain optimistic on the DC theme, favouring SUNCON, ISF, and RANHILL.
Stocks to watch:
Property: *IOIPG*, LBS
Construction: *CBHB*, *ISF*
Energy: *KENERGY*, *UZMA*
Technology: *LGMS*
Building Material: CSCSTEL
Consumer: OHM
Utility: YTL
**Source: M+ Global**
Wall Street Slipped On OpenAI’s Growth Concern
US: While OpenAI reportedly missed its internal targets for both Q1 2026 revenue and user growth, sparking sell-offs in AI infrastructure plays, we view this as a healthy correction in chipmakers and AI-related counters. We believe the deceleration at OpenAI is largely attributable to Anthropic’s Claude capturing market share from ChatGPT, which does not suggest that AI growth momentum has peaked. This hypothesis may be validated by the earnings and guidance from Google, Microsoft, Meta, and Amazon later today. Finally, with Brent crude trading above USD 104/barrel, despite the UAE's exit from OPEC and OPEC+, we believe investors may consider positioning in Chevron and Cheniere Energy.
MY: In view of the sell-offs in the US market, we expect profit-taking activity on the local bourse. Meanwhile, following news that UEMS has been identified as a takeover target for privatization, analysts note that the stock is trading at a steep discount to its book value, propelling a surge in the Property sector. While UEMS’ landbank is primarily situated in Johor, other property developers that may attract increased buying interest due to their substantial landbanks in the JSSEZ region include ECOWLD, IOIPROP, and MAHSING. Also, we remain optimistic on the DC theme, favouring SUNCON, ISF, and RANHILL.
Stocks to watch:
Property: *IOIPG*, LBS
Construction: *CBHB*, *ISF*
Energy: *KENERGY*, *UZMA*
Technology: *LGMS*
Building Material: CSCSTEL
Consumer: OHM
Utility: YTL
**Source: M+ Global**
😁2
M+ Global Market Wrap - 29Apr26
FBM KLCI: 1,720.42 pts (-9.18pts, -0.53%)
The FBM KLCI (-0.53%) closed lower at 1720.42 points as reports on the UAE's move to exit the OPEC and OPEC+ impacted investor sentiment. Also, the market has taken a cautious trading approach ahead of the FOMC meeting. The market breadth was negative, with 485 winners against 617 losers. Sector wise, Energy (+1.65%) outperformed, led by VELESTO (+3.0sen) and DAYANG (+12.0sen), while Finance (-0.88%) declined the most.
Top 3 Active stocks:
BORNOIL (7036): RM0.005 (UNCH)
UEMS (5148): RM0.685 (+3.5 sen)
MRCB (1651): RM0.365 (+3.0 sen)
Top 3 Gainer stocks:
NESTLE (4707): RM102.90 (+60.0 sen)
MPI (3867): RM38.00 (+50.0 sen)
BIPORT (5032): RM5.65 (+30.0 sen)
Top 3 Loser stocks:
HLIND (3301): RM17.50 (-30.0 sen)
PETDAG (5681): RM20.30 (-26.0 sen)
SAM (9822): RM3.97 (-21.0 sen)
Volume: 3.64 bn (100-bar avg vol: 3.03 bn)
Value: RM3.13 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️485 ⬇️617
Crude Palm Oil: RM4,536 (+RM24, +0.53%)
Dow Futures: 49,295 pts (-2 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,720.42 pts (-9.18pts, -0.53%)
The FBM KLCI (-0.53%) closed lower at 1720.42 points as reports on the UAE's move to exit the OPEC and OPEC+ impacted investor sentiment. Also, the market has taken a cautious trading approach ahead of the FOMC meeting. The market breadth was negative, with 485 winners against 617 losers. Sector wise, Energy (+1.65%) outperformed, led by VELESTO (+3.0sen) and DAYANG (+12.0sen), while Finance (-0.88%) declined the most.
Top 3 Active stocks:
BORNOIL (7036): RM0.005 (UNCH)
UEMS (5148): RM0.685 (+3.5 sen)
MRCB (1651): RM0.365 (+3.0 sen)
Top 3 Gainer stocks:
NESTLE (4707): RM102.90 (+60.0 sen)
MPI (3867): RM38.00 (+50.0 sen)
BIPORT (5032): RM5.65 (+30.0 sen)
Top 3 Loser stocks:
HLIND (3301): RM17.50 (-30.0 sen)
PETDAG (5681): RM20.30 (-26.0 sen)
SAM (9822): RM3.97 (-21.0 sen)
Volume: 3.64 bn (100-bar avg vol: 3.03 bn)
Value: RM3.13 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️485 ⬇️617
Crude Palm Oil: RM4,536 (+RM24, +0.53%)
Dow Futures: 49,295 pts (-2 pts)
**Source: M+ Global, Bloomberg **
👏2
M+ Morning Market Buzz - 30Apr26
Dow Jones: 48,861.81 pts (-280.12pts, -0.57%)
⬆️ Resistance: 50600
⬇️ Support: 47800
FBM KLCI: 1,720.42 pts (-9.18pts, -0.53%)
⬆️ Resistance: 1770
⬇️ Support: 1680
HSI Index: 26,111.84 pts (+432.06pts, +1.68%)
⬆️ Resistance: 26700
⬇️ Support: 25100
Crude Palm Oil: RM4,578 (-RM7, -0.15%)
⬆️ Resistance: 4740
⬇️ Support: 4400
Brent Oil: $118.03 (+$6.77, +6.08%)
⬆️ Resistance: 125.00
⬇️ Support: 99.30
Gold: $4,547.95 (+$0.32, +0.01%)
⬆️ Resistance: 4850
⬇️ Support: 4430
Source: Bloomberg, M+ Global
Dow Jones: 48,861.81 pts (-280.12pts, -0.57%)
⬆️ Resistance: 50600
⬇️ Support: 47800
FBM KLCI: 1,720.42 pts (-9.18pts, -0.53%)
⬆️ Resistance: 1770
⬇️ Support: 1680
HSI Index: 26,111.84 pts (+432.06pts, +1.68%)
⬆️ Resistance: 26700
⬇️ Support: 25100
Crude Palm Oil: RM4,578 (-RM7, -0.15%)
⬆️ Resistance: 4740
⬇️ Support: 4400
Brent Oil: $118.03 (+$6.77, +6.08%)
⬆️ Resistance: 125.00
⬇️ Support: 99.30
Gold: $4,547.95 (+$0.32, +0.01%)
⬆️ Resistance: 4850
⬇️ Support: 4430
Source: Bloomberg, M+ Global
👏2
M+ Global Market Update – 30Apr26
Fed Warned Inflation “Misbehaving”
US: Following the Fed’s decision to hold rates and Jerome Powell’s warning that inflation is ‘misbehaving’, we anticipate that Wall Street will continue its profit-taking activities. This sentiment was exacerbated by Donald Trump’s rejection of Iran’s latest proposal, causing oil prices to surge towards $120/barrel. Meanwhile, Alphabet’s and Microsoft’s blowout cloud growth, alongside Meta’s aggressive capex plans, suggest that AI growth momentum is not slowing down, partially offsetting the ‘OpenAI growth scare’ narrative. The market may view this round of sell-offs in chipmakers and AI-related counters as a healthy pullback, presenting an opportunity for accumulation.
MY: Tracking the sell-off in the US, we expect the FBM KLCI to end the week softer. In the current elevated oil price environment, sentiment is expected to bode well for energy and chemicals-related counters, including PETRONM, HENGYUAN, and PCHEM. Traders could also take positions in LSH and ITMAX following their recent breakouts; the latter recently secured an order for 2,000 AI-driven surveillance units from MBJB and has indicated its intention to participate in Kota Kinabalu’s CCTV tenders. On a defensive front, investors might consider IGBREIT and IGBCR following their stellar 1Q26 results.
Stocks to watch:
O&G: *DAYANG*, *DELEUM*, *HENGYUAN*, HIBISCS
Construction: *JTGROUP*, MITRA, *PWRWELL*
Technology: *ITMAX*
Solar: *PEKAT*
Property: KSL
**Source: M+ Global**
Fed Warned Inflation “Misbehaving”
US: Following the Fed’s decision to hold rates and Jerome Powell’s warning that inflation is ‘misbehaving’, we anticipate that Wall Street will continue its profit-taking activities. This sentiment was exacerbated by Donald Trump’s rejection of Iran’s latest proposal, causing oil prices to surge towards $120/barrel. Meanwhile, Alphabet’s and Microsoft’s blowout cloud growth, alongside Meta’s aggressive capex plans, suggest that AI growth momentum is not slowing down, partially offsetting the ‘OpenAI growth scare’ narrative. The market may view this round of sell-offs in chipmakers and AI-related counters as a healthy pullback, presenting an opportunity for accumulation.
MY: Tracking the sell-off in the US, we expect the FBM KLCI to end the week softer. In the current elevated oil price environment, sentiment is expected to bode well for energy and chemicals-related counters, including PETRONM, HENGYUAN, and PCHEM. Traders could also take positions in LSH and ITMAX following their recent breakouts; the latter recently secured an order for 2,000 AI-driven surveillance units from MBJB and has indicated its intention to participate in Kota Kinabalu’s CCTV tenders. On a defensive front, investors might consider IGBREIT and IGBCR following their stellar 1Q26 results.
Stocks to watch:
O&G: *DAYANG*, *DELEUM*, *HENGYUAN*, HIBISCS
Construction: *JTGROUP*, MITRA, *PWRWELL*
Technology: *ITMAX*
Solar: *PEKAT*
Property: KSL
**Source: M+ Global**
Good Morning All,
We issued a 1Q26 results note on our coverage stock IGB Commercial REIT: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We maintain our BUY recommendation with a slightly higher target price of RM0.70 (from RM0.67). The target price is derived based on a targeted yield of 6.0% on its mid-FY27f EPU of 4.22 sen.
Research Team, M+ Global
30 April 2026
We issued a 1Q26 results note on our coverage stock IGB Commercial REIT: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We maintain our BUY recommendation with a slightly higher target price of RM0.70 (from RM0.67). The target price is derived based on a targeted yield of 6.0% on its mid-FY27f EPU of 4.22 sen.
Research Team, M+ Global
30 April 2026
M+ Global Market Wrap - 30Apr26
FBM KLCI: 1,722.02 pts (+1.60pts, +0.09%)
The FBM KLCI (+0.09%) closed higher at 1722.02 points as bargain hunters entered the market following crude oil's 4-year record high. The market breadth however was negative, with 360 winners against 816 losers. Sector wise, Plantation (+1.38%) outperformed, led by SDG (+15.0sen) and KLK (+66.0sen) as CPO price rose above RM4600/tonne. Meanwhile, Technology (-2.13%) declined the most.
Top 3 Active stocks:
ZETRIX (0138): RM0.820 (-3.5 sen)
UEMS (5148): RM0.645 (-4.0 sen)
VS (1651): RM0.210 (UNCH)
Top 3 Gainer stocks:
NESTLE (4707): RM108.40 (+550.0 sen)
KLK (2445): RM21.22 (+66.0 sen)
LPI (8621): RM14.84 (+44.0 sen)
Top 3 Loser stocks:
MPI (3867): RM36.62 (-138.0 sen)
UTDPLT (2089): RM31.74 (-26.0 sen)
F&N (3689): RM31.30 (-22.0 sen)
Volume: 2.92 bn (100-bar avg vol: 3.02 bn)
Value: RM3.21 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️360 ⬇️816
Crude Palm Oil: RM4,578 (+RM19, +0.42%)
Dow Futures: 48,799 pts (-213 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,722.02 pts (+1.60pts, +0.09%)
The FBM KLCI (+0.09%) closed higher at 1722.02 points as bargain hunters entered the market following crude oil's 4-year record high. The market breadth however was negative, with 360 winners against 816 losers. Sector wise, Plantation (+1.38%) outperformed, led by SDG (+15.0sen) and KLK (+66.0sen) as CPO price rose above RM4600/tonne. Meanwhile, Technology (-2.13%) declined the most.
Top 3 Active stocks:
ZETRIX (0138): RM0.820 (-3.5 sen)
UEMS (5148): RM0.645 (-4.0 sen)
VS (1651): RM0.210 (UNCH)
Top 3 Gainer stocks:
NESTLE (4707): RM108.40 (+550.0 sen)
KLK (2445): RM21.22 (+66.0 sen)
LPI (8621): RM14.84 (+44.0 sen)
Top 3 Loser stocks:
MPI (3867): RM36.62 (-138.0 sen)
UTDPLT (2089): RM31.74 (-26.0 sen)
F&N (3689): RM31.30 (-22.0 sen)
Volume: 2.92 bn (100-bar avg vol: 3.02 bn)
Value: RM3.21 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️360 ⬇️816
Crude Palm Oil: RM4,578 (+RM19, +0.42%)
Dow Futures: 48,799 pts (-213 pts)
**Source: M+ Global, Bloomberg **
😁2
M+ Global Market Update – 04May26
Mag-7 Results To Offset Middle East Tensions
US: While President Trump has cast doubt on Iran's latest 14-point proposal, we believe Wall Street will remain focused on AI-related themes following the earnings outperformance of most 'Magnificent Seven' (Mag-7) firms. Although markets are concerned about OpenAI’s growth miss, this suggests that Gemini and Claude have successfully captured ChatGPT’s market share, thereby strengthening Alphabet’s business moat. Finally, traders may wish to look into Teradyne; its recent earnings beat reflects the Group’s successful pivot from a 'mobile-phone cycle' stock to an 'AI-infrastructure' play. With 70% of its revenue now exposed to AI, Teradyne serves as a key proxy for the ongoing data centre build-out.
MY: Tracking the robust Mag-7 results in the US, we expect the FBMKLCI to start the week on a stronger footing. We particularly favour UWC, as it acts as a proxy for Lam Research and Intel; a further pullback towards the EMA20 could present a strategic entry opportunity. Meanwhile, we favour KEEMING, supported by a share price recovery driven by Tenaga’s RP4 CapEx initiatives and the data centre boom, both of which necessitate increased underground utility cabling. With the persistent conflict in the Middle East, this should continue to favour PCHEM and the glove counters.
Stocks to watch:
Healthcare: *KPJ*, TOPGLOV
Chemical: SAMCHEM, *PCHEM*
Steel: *ANNJOO*
Technology: *PENTA*
Plantation: *THPLANT*
Financial: MAYBANK
Telco: TIMECOM
Logistics: WPRTS
**Source: M+ Global**
Mag-7 Results To Offset Middle East Tensions
US: While President Trump has cast doubt on Iran's latest 14-point proposal, we believe Wall Street will remain focused on AI-related themes following the earnings outperformance of most 'Magnificent Seven' (Mag-7) firms. Although markets are concerned about OpenAI’s growth miss, this suggests that Gemini and Claude have successfully captured ChatGPT’s market share, thereby strengthening Alphabet’s business moat. Finally, traders may wish to look into Teradyne; its recent earnings beat reflects the Group’s successful pivot from a 'mobile-phone cycle' stock to an 'AI-infrastructure' play. With 70% of its revenue now exposed to AI, Teradyne serves as a key proxy for the ongoing data centre build-out.
MY: Tracking the robust Mag-7 results in the US, we expect the FBMKLCI to start the week on a stronger footing. We particularly favour UWC, as it acts as a proxy for Lam Research and Intel; a further pullback towards the EMA20 could present a strategic entry opportunity. Meanwhile, we favour KEEMING, supported by a share price recovery driven by Tenaga’s RP4 CapEx initiatives and the data centre boom, both of which necessitate increased underground utility cabling. With the persistent conflict in the Middle East, this should continue to favour PCHEM and the glove counters.
Stocks to watch:
Healthcare: *KPJ*, TOPGLOV
Chemical: SAMCHEM, *PCHEM*
Steel: *ANNJOO*
Technology: *PENTA*
Plantation: *THPLANT*
Financial: MAYBANK
Telco: TIMECOM
Logistics: WPRTS
**Source: M+ Global**
M+ Morning Market Buzz - 4May26
Dow Jones: 49,499.27 pts (-152.87pts, -0.31%)
⬆️ Resistance: 51000
⬇️ Support: 47800
FBM KLCI: 1,722.02 pts (+1.60pts, +0.09%)
⬆️ Resistance: 1770
⬇️ Support: 1680
HSI Index: 25,776.53 pts (-335.31pts, -1.28%)
⬆️ Resistance: 26700
⬇️ Support: 25100
Crude Palm Oil: RM4,570 (-RM8, -0.17%)
⬆️ Resistance: 4720
⬇️ Support: 4400
Brent Oil: $108.17 (-$0.10, -0.09%)
⬆️ Resistance: 129.00
⬇️ Support: 103.80
Gold: $4,614.21 (+$0.17, +0.00%)
⬆️ Resistance: 4830
⬇️ Support: 4430
Source: Bloomberg, M+ Global
Dow Jones: 49,499.27 pts (-152.87pts, -0.31%)
⬆️ Resistance: 51000
⬇️ Support: 47800
FBM KLCI: 1,722.02 pts (+1.60pts, +0.09%)
⬆️ Resistance: 1770
⬇️ Support: 1680
HSI Index: 25,776.53 pts (-335.31pts, -1.28%)
⬆️ Resistance: 26700
⬇️ Support: 25100
Crude Palm Oil: RM4,570 (-RM8, -0.17%)
⬆️ Resistance: 4720
⬇️ Support: 4400
Brent Oil: $108.17 (-$0.10, -0.09%)
⬆️ Resistance: 129.00
⬇️ Support: 103.80
Gold: $4,614.21 (+$0.17, +0.00%)
⬆️ Resistance: 4830
⬇️ Support: 4430
Source: Bloomberg, M+ Global
👏2