Good Morning All,
Here’s our Factor Focus - May 2026 report | Malacca Securities (mplusonline.com)
As markets began pricing in the ongoing Middle East war, coupled with AI-driven productivity in the US and commodity-led resilience in Malaysia, our quantitative picks rebounded in April 2026, recording gains of 4.1%/4.4%/5.4% for the respective Large, Small, and Combined universes. Cumulatively, the portfolios recorded 31.0%/34.2%/37.0% in returns since inception.
Research Team, M+ Global
4 May 2026
Here’s our Factor Focus - May 2026 report | Malacca Securities (mplusonline.com)
As markets began pricing in the ongoing Middle East war, coupled with AI-driven productivity in the US and commodity-led resilience in Malaysia, our quantitative picks rebounded in April 2026, recording gains of 4.1%/4.4%/5.4% for the respective Large, Small, and Combined universes. Cumulatively, the portfolios recorded 31.0%/34.2%/37.0% in returns since inception.
Research Team, M+ Global
4 May 2026
M+ Global Market Wrap - 4May26
FBM KLCI: 1,739.77 pts (+17.75pts, +1.03%)
The FBM KLCI (+1.03%) closed higher at 1739.77 points as sentiment improved following the prospects of shipping resuming through the Strait of Hormuz and progress towards a US-Iran deal. The market breadth was positive, with 668 winners against 501 losers. Sector wise, Technology (+2.98%) outperformed, led by VITROX (+31.0sen) and ZETRIX (+4.0sen) following optimism surrounding AI. Meanwhile, Consumer Product (-0.76%) declined the most.
Top 3 Active stocks:
ZETRIX (0138): RM0.860 (+4.0 sen)
PHB (4464): RM0.005 (UNCH)
MRCB (1651): RM0.365 (+2.0 sen)
Top 3 Gainer stocks:
MPI (3867): RM38.00 (+138.0 sen)
HLIND (3301): RM17.70 (+38.0 sen)
KESM (9334): RM4.40 (+32.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM103.80 (-4.6 sen)
F&N (3689): RM30.02 (-128.0 sen)
UTDPLT (2089): RM30.52 (-122.0 sen)
Volume: 3.06 bn (100-bar avg vol: 3.02 bn)
Value: RM2.55 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️668 ⬇️501
Crude Palm Oil: RM4,570 (+RM56, +1.23%)
Dow Futures: 49,548 pts (-98 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,739.77 pts (+17.75pts, +1.03%)
The FBM KLCI (+1.03%) closed higher at 1739.77 points as sentiment improved following the prospects of shipping resuming through the Strait of Hormuz and progress towards a US-Iran deal. The market breadth was positive, with 668 winners against 501 losers. Sector wise, Technology (+2.98%) outperformed, led by VITROX (+31.0sen) and ZETRIX (+4.0sen) following optimism surrounding AI. Meanwhile, Consumer Product (-0.76%) declined the most.
Top 3 Active stocks:
ZETRIX (0138): RM0.860 (+4.0 sen)
PHB (4464): RM0.005 (UNCH)
MRCB (1651): RM0.365 (+2.0 sen)
Top 3 Gainer stocks:
MPI (3867): RM38.00 (+138.0 sen)
HLIND (3301): RM17.70 (+38.0 sen)
KESM (9334): RM4.40 (+32.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM103.80 (-4.6 sen)
F&N (3689): RM30.02 (-128.0 sen)
UTDPLT (2089): RM30.52 (-122.0 sen)
Volume: 3.06 bn (100-bar avg vol: 3.02 bn)
Value: RM2.55 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️668 ⬇️501
Crude Palm Oil: RM4,570 (+RM56, +1.23%)
Dow Futures: 49,548 pts (-98 pts)
**Source: M+ Global, Bloomberg **
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M+ Global Market Update – 05May26
Oil Prices Rise Amid Flaring US-Iran Tensions
US: Following the Iranian tanker attack on the UAE’s energy hub and the potential collapse of Iran’s 14-point proposal, we anticipate that Wall Street will trade in a risk-off mode today. We remain constructive on domestic energy and LNG players following the surge in oil prices, including companies like Chevron, ExxonMobil and Cheniere Energy. Meanwhile, in view of the shortage of aluminium and prices holding around the USD3.5k level, traders can also position into Alcoa and Century Aluminium. Lastly, after a depressed share price since August 2025, the breakout in cybersecurity company Fortinet should also bode well for its competitor Palo Alto Networks, implying a potential completion from its oversold conditions.
MY: Tracking Wall Street’s negative overnight performance, we anticipate the spillover effect to occur in the FBMKLCI today. Meanwhile, the current elevated oil price environment should continue to bode well for O&G counters, benefitting DIALOG, HIBISCS and HENGYUAN. Given the current AI infrastructure buildout, we believe sentiment will continue to hover around the data centre theme, favouring stocks like YTLPOWR, RANHILL and CBHB. Lastly, Johor secondary-town-based property developer GOLDLI (M+ TP: RM 0.14) will close its IPO applications today.
Stocks to watch:
Technology: GOHUB, KOBAY, OXB, SCICOM, *THMY*, *UWC*, *VITROX*, VSTECS
Construction: *PWRWELL*
Plastic: *TGUAN*
Building Material: *CSCSTEL*
**Source: M+ Global**
Oil Prices Rise Amid Flaring US-Iran Tensions
US: Following the Iranian tanker attack on the UAE’s energy hub and the potential collapse of Iran’s 14-point proposal, we anticipate that Wall Street will trade in a risk-off mode today. We remain constructive on domestic energy and LNG players following the surge in oil prices, including companies like Chevron, ExxonMobil and Cheniere Energy. Meanwhile, in view of the shortage of aluminium and prices holding around the USD3.5k level, traders can also position into Alcoa and Century Aluminium. Lastly, after a depressed share price since August 2025, the breakout in cybersecurity company Fortinet should also bode well for its competitor Palo Alto Networks, implying a potential completion from its oversold conditions.
MY: Tracking Wall Street’s negative overnight performance, we anticipate the spillover effect to occur in the FBMKLCI today. Meanwhile, the current elevated oil price environment should continue to bode well for O&G counters, benefitting DIALOG, HIBISCS and HENGYUAN. Given the current AI infrastructure buildout, we believe sentiment will continue to hover around the data centre theme, favouring stocks like YTLPOWR, RANHILL and CBHB. Lastly, Johor secondary-town-based property developer GOLDLI (M+ TP: RM 0.14) will close its IPO applications today.
Stocks to watch:
Technology: GOHUB, KOBAY, OXB, SCICOM, *THMY*, *UWC*, *VITROX*, VSTECS
Construction: *PWRWELL*
Plastic: *TGUAN*
Building Material: *CSCSTEL*
**Source: M+ Global**
👍2
M+ Morning Market Buzz - 5May26
Dow Jones: 48,941.90 pts (-557.37pts, -1.13%)
⬆️ Resistance: 51000
⬇️ Support: 47800
FBM KLCI: 1,739.77 pts (+17.75pts, +1.03%)
⬆️ Resistance: 1780
⬇️ Support: 1680
HSI Index: 26,095.88 pts (+319.35pts, +1.24%)
⬆️ Resistance: 26900
⬇️ Support: 25100
Crude Palm Oil: RM4,622 (+RM41, +0.89%)
⬆️ Resistance: 4740
⬇️ Support: 4400
Brent Oil: $114.44 (+$6.27, +5.80%)
⬆️ Resistance: 129.00
⬇️ Support: 103.50
Gold: $4,521.91 (-$1.88, -0.10%)
⬆️ Resistance: 4800
⬇️ Support: 4420
Source: Bloomberg, M+ Global
Dow Jones: 48,941.90 pts (-557.37pts, -1.13%)
⬆️ Resistance: 51000
⬇️ Support: 47800
FBM KLCI: 1,739.77 pts (+17.75pts, +1.03%)
⬆️ Resistance: 1780
⬇️ Support: 1680
HSI Index: 26,095.88 pts (+319.35pts, +1.24%)
⬆️ Resistance: 26900
⬇️ Support: 25100
Crude Palm Oil: RM4,622 (+RM41, +0.89%)
⬆️ Resistance: 4740
⬇️ Support: 4400
Brent Oil: $114.44 (+$6.27, +5.80%)
⬆️ Resistance: 129.00
⬇️ Support: 103.50
Gold: $4,521.91 (-$1.88, -0.10%)
⬆️ Resistance: 4800
⬇️ Support: 4420
Source: Bloomberg, M+ Global
👍2👏1
Good Morning All,
Here’s our IPO note on EI Power Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.66 per share for EIPOWER, indicating a 37.5% upside from the IPO price of RM0.48. This valuation is based on a PE ratio of 15.0x, pegged to mid-FY27f EPS of 4.40 sen.
Investment highlights include:
(i) Primary beneficiary of the data centre boom
(ii) Technical moat through Tier certifications
(iii) Margin improvement driven by mission critical segment
(iv) New recurring revenue via Building Energy Efficiency Systems
(v) Benefitting from the renewable energy sector
(vi) Geographical expansion into Thailand
Research Team, M+ Global
5 May 26
Here’s our IPO note on EI Power Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.66 per share for EIPOWER, indicating a 37.5% upside from the IPO price of RM0.48. This valuation is based on a PE ratio of 15.0x, pegged to mid-FY27f EPS of 4.40 sen.
Investment highlights include:
(i) Primary beneficiary of the data centre boom
(ii) Technical moat through Tier certifications
(iii) Margin improvement driven by mission critical segment
(iv) New recurring revenue via Building Energy Efficiency Systems
(v) Benefitting from the renewable energy sector
(vi) Geographical expansion into Thailand
Research Team, M+ Global
5 May 26
Good Morning All,
Here’s our IPO note on Gold Li Holdings Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.14 per share for GOLDLI, indicating a 7.7% upside from the IPO price of RM0.13. This valuation is based on a PE ratio of 7.5x, pegged to midFY28f EPS of 1.84 sen.
Investment highlights include:
(i) Future development pipeline and sizeable landbank
(ii) In-house construction with G7 CIDB status
(iii) Strong revenue growth momentum with improving margin recovery
(iv) Strong brand recognition in Johor’s secondary towns
(v) Expansion into high-rise residential and landbank acquisitions
Research Team, M+ Global
5 May 26
Here’s our IPO note on Gold Li Holdings Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM0.14 per share for GOLDLI, indicating a 7.7% upside from the IPO price of RM0.13. This valuation is based on a PE ratio of 7.5x, pegged to midFY28f EPS of 1.84 sen.
Investment highlights include:
(i) Future development pipeline and sizeable landbank
(ii) In-house construction with G7 CIDB status
(iii) Strong revenue growth momentum with improving margin recovery
(iv) Strong brand recognition in Johor’s secondary towns
(v) Expansion into high-rise residential and landbank acquisitions
Research Team, M+ Global
5 May 26
M+ Global Market Wrap - 5May26
FBM KLCI: 1,747.43 pts (+7.66pts, +0.44%)
The FBM KLCI (+0.44%) closed higher at 1747.43 points despite the ongoing Middle Eastern uncertainty as the market remains resilient with selective buying interest in KLCI heavyweights. The market breadth however was negative, with 539 winners against 605 losers. Sector wise, Healthcare (+0.82%) outperformed, led by HARTA (+4.0sen) and KOSSAN (+4.0sen) following a reduced supply in the rubber market. Meanwhile, Construction (-0.36%) declined the most.
Top 3 Active stocks:
ZETRIX (0138): RM0.865 (+0.5 sen)
GIIB (7192): RM0.185 (+2.5 sen)
TANCO (2429): RM1.62 (+1.0 sen)
Top 3 Gainer stocks:
PETDAG (5681): RM20.34 (+24.0 sen)
HLIND (3301): RM17.92 (+22.0 sen)
CARLSBG (28236): RM16.74 (+22.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM101.70 (-210.0 sen)
MPI (3867): RM37.50 (-50.0 sen)
F&N (3689): RM29.56 (-46.0 sen)
Volume: 2.86 bn (100-bar avg vol: 3.01 bn)
Value: RM2.59 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️539 ⬇️605
Crude Palm Oil: RM4,622 (+RM82, +1.77%)
Dow Futures: 49,178 pts (+99 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,747.43 pts (+7.66pts, +0.44%)
The FBM KLCI (+0.44%) closed higher at 1747.43 points despite the ongoing Middle Eastern uncertainty as the market remains resilient with selective buying interest in KLCI heavyweights. The market breadth however was negative, with 539 winners against 605 losers. Sector wise, Healthcare (+0.82%) outperformed, led by HARTA (+4.0sen) and KOSSAN (+4.0sen) following a reduced supply in the rubber market. Meanwhile, Construction (-0.36%) declined the most.
Top 3 Active stocks:
ZETRIX (0138): RM0.865 (+0.5 sen)
GIIB (7192): RM0.185 (+2.5 sen)
TANCO (2429): RM1.62 (+1.0 sen)
Top 3 Gainer stocks:
PETDAG (5681): RM20.34 (+24.0 sen)
HLIND (3301): RM17.92 (+22.0 sen)
CARLSBG (28236): RM16.74 (+22.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM101.70 (-210.0 sen)
MPI (3867): RM37.50 (-50.0 sen)
F&N (3689): RM29.56 (-46.0 sen)
Volume: 2.86 bn (100-bar avg vol: 3.01 bn)
Value: RM2.59 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️539 ⬇️605
Crude Palm Oil: RM4,622 (+RM82, +1.77%)
Dow Futures: 49,178 pts (+99 pts)
**Source: M+ Global, Bloomberg **
😁2
M+ Global Market Update – 06May26
AI Supercycle To Offset US-Iran Tensions
US: Despite UAE air defences continuing to engage Iranian threats, the Nasdaq has hit a record high, indicating that the market is focusing on AI-related results rather than Middle East tensions. AMD has released its 1Q26 results, which outperformed analysts' estimates; we believe investors will continue to monitor AMD to see whether it can capitalise on the surge in server CPU demand driven by AI inference and agentic AI. However, we believe technology stocks are currently overbought and would suggest waiting for a pullback to find better entry opportunities. Lastly, in view of the aluminium shortage, we continue to favour Alcoa and Century Aluminum.
MY: Tracking Wall Street’s overnight rebound, we anticipate the FBMKLCI will follow suit. Meanwhile, while the market is generally concerned that the closure of the Strait of Hormuz and rising fuel costs will negatively impact the shipping industry, we remain fundamentally optimistic on MTTSL. The Group is able to pass on higher fuel costs to customers through bunker adjustment factors, and its operations primarily focus on domestic and Southeast Asian shipping lanes rather than the Middle East. Lastly, SKYECHIP (M+ TP: RM 1.48) and EIPOWER (M+ TP: RM 0.66) will close their IPO applications today.
Stocks to watch:
Technology: *FRONTKN*, *JFTECH*, QES, VTC
Utility: *RANHILL*, *YTL*
Gloves: *HARTA*, KOSSAN
Financial: *CIMB*
Plantation: *THPLANT*
Property: SPSETIA
**Source: M+ Global**
AI Supercycle To Offset US-Iran Tensions
US: Despite UAE air defences continuing to engage Iranian threats, the Nasdaq has hit a record high, indicating that the market is focusing on AI-related results rather than Middle East tensions. AMD has released its 1Q26 results, which outperformed analysts' estimates; we believe investors will continue to monitor AMD to see whether it can capitalise on the surge in server CPU demand driven by AI inference and agentic AI. However, we believe technology stocks are currently overbought and would suggest waiting for a pullback to find better entry opportunities. Lastly, in view of the aluminium shortage, we continue to favour Alcoa and Century Aluminum.
MY: Tracking Wall Street’s overnight rebound, we anticipate the FBMKLCI will follow suit. Meanwhile, while the market is generally concerned that the closure of the Strait of Hormuz and rising fuel costs will negatively impact the shipping industry, we remain fundamentally optimistic on MTTSL. The Group is able to pass on higher fuel costs to customers through bunker adjustment factors, and its operations primarily focus on domestic and Southeast Asian shipping lanes rather than the Middle East. Lastly, SKYECHIP (M+ TP: RM 1.48) and EIPOWER (M+ TP: RM 0.66) will close their IPO applications today.
Stocks to watch:
Technology: *FRONTKN*, *JFTECH*, QES, VTC
Utility: *RANHILL*, *YTL*
Gloves: *HARTA*, KOSSAN
Financial: *CIMB*
Plantation: *THPLANT*
Property: SPSETIA
**Source: M+ Global**
👍3
M+ Morning Market Buzz - 6May26
Dow Jones: 49,298.25 pts (+356.35pts, +0.73%)
⬆️ Resistance: 51000
⬇️ Support: 47800
FBM KLCI: 1,747.43 pts (+7.66pts, +0.44%)
⬆️ Resistance: 1790
⬇️ Support: 1680
HSI Index: 25,898.61 pts (-197.27pts, -0.76%)
⬆️ Resistance: 26900
⬇️ Support: 25200
Crude Palm Oil: RM4,710 (-RM20, -0.42%)
⬆️ Resistance: 4810
⬇️ Support: 4410
Brent Oil: $109.87 (-$4.57, -3.99%)
⬆️ Resistance: 129.00
⬇️ Support: 103.50
Gold: $4,556.92 (+$30.79, +0.68%)
⬆️ Resistance: 4760
⬇️ Support: 4420
Source: Bloomberg, M+ Global
Dow Jones: 49,298.25 pts (+356.35pts, +0.73%)
⬆️ Resistance: 51000
⬇️ Support: 47800
FBM KLCI: 1,747.43 pts (+7.66pts, +0.44%)
⬆️ Resistance: 1790
⬇️ Support: 1680
HSI Index: 25,898.61 pts (-197.27pts, -0.76%)
⬆️ Resistance: 26900
⬇️ Support: 25200
Crude Palm Oil: RM4,710 (-RM20, -0.42%)
⬆️ Resistance: 4810
⬇️ Support: 4410
Brent Oil: $109.87 (-$4.57, -3.99%)
⬆️ Resistance: 129.00
⬇️ Support: 103.50
Gold: $4,556.92 (+$30.79, +0.68%)
⬆️ Resistance: 4760
⬇️ Support: 4420
Source: Bloomberg, M+ Global
😁2
Good Morning All,
Here’s our IPO note on SkyeChip Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM1.48 per share for SKYECHIP, indicating a 68.2% upside from the IPO price of RM0.88. This valuation is based on a PE ratio of 40.0x, pegged to mid-FY28f EPS of 3.71 sen.
Investment highlights include:
(i) Scalable IP license capturing forced upgrade cycles
(ii) Advanced node capabilities down to 3nm
(iii) Solving AI bottlenecks with coherent architectures
(iv) Benefitting from geopolitical neutrality
(v) Greenfield expansion into automotive qualified IP
(vi) Veteran leadership with deep blue-chip expertise
Research Team, M+ Global
6 May 26
Here’s our IPO note on SkyeChip Berhad: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
We assign a fair value of RM1.48 per share for SKYECHIP, indicating a 68.2% upside from the IPO price of RM0.88. This valuation is based on a PE ratio of 40.0x, pegged to mid-FY28f EPS of 3.71 sen.
Investment highlights include:
(i) Scalable IP license capturing forced upgrade cycles
(ii) Advanced node capabilities down to 3nm
(iii) Solving AI bottlenecks with coherent architectures
(iv) Benefitting from geopolitical neutrality
(v) Greenfield expansion into automotive qualified IP
(vi) Veteran leadership with deep blue-chip expertise
Research Team, M+ Global
6 May 26
M+ Global Market Wrap - 6May26
FBM KLCI: 1,756.87 pts (+9.44pts, +0.54%)
The FBM KLCI (+0.54%) closed higher at 1756.87, tracking overnight gains on Wall Street as oil prices dropped. The market breadth was positive, with 785 winners against 503 losers. Sector wise, Technology (+3.12%) outperformed, led by MPI (+64.0sen) and UNISEM (+34.0sen). Meanwhile, Healthcare (-0.93%) declined the most. The IPO debutant MFGROUP ended lower at RM0.375 compared to its IPO price of RM0.380.
Top 3 Active stocks:
ZETRIX (0138): RM0.870 (+0.5 sen)
VS (6963): RM0.190 (-1.0 sen)
GIIB (7192): RM0.180 (-0.5 sen)
Top 3 Gainer stocks:
MPI (3867): RM41.40 (+390.0 sen)
UNISEM (5005): RM3.77 (+27.0 sen)
YTLPOWR (6742): RM4.17 (+23.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM100.90 (-80.0 sen)
F&N (3689): RM29.10 (-46.0 sen)
PETDAG (5681): RM20.22 (-12.0 sen)
Volume: 3.99 bn (100-bar avg vol: 3.01 bn)
Value: RM3.98 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️785 ⬇️503
Crude Palm Oil: RM4,710 (-RM95, -2.02%)
Dow Futures: 49,672 pts (+257 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,756.87 pts (+9.44pts, +0.54%)
The FBM KLCI (+0.54%) closed higher at 1756.87, tracking overnight gains on Wall Street as oil prices dropped. The market breadth was positive, with 785 winners against 503 losers. Sector wise, Technology (+3.12%) outperformed, led by MPI (+64.0sen) and UNISEM (+34.0sen). Meanwhile, Healthcare (-0.93%) declined the most. The IPO debutant MFGROUP ended lower at RM0.375 compared to its IPO price of RM0.380.
Top 3 Active stocks:
ZETRIX (0138): RM0.870 (+0.5 sen)
VS (6963): RM0.190 (-1.0 sen)
GIIB (7192): RM0.180 (-0.5 sen)
Top 3 Gainer stocks:
MPI (3867): RM41.40 (+390.0 sen)
UNISEM (5005): RM3.77 (+27.0 sen)
YTLPOWR (6742): RM4.17 (+23.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM100.90 (-80.0 sen)
F&N (3689): RM29.10 (-46.0 sen)
PETDAG (5681): RM20.22 (-12.0 sen)
Volume: 3.99 bn (100-bar avg vol: 3.01 bn)
Value: RM3.98 bn (100-bar avg val: RM3.05 bn)
Market Breadth: ⬆️785 ⬇️503
Crude Palm Oil: RM4,710 (-RM95, -2.02%)
Dow Futures: 49,672 pts (+257 pts)
**Source: M+ Global, Bloomberg **
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M+ Global Market Update – 07May26
AI Supercycle Continues To Drive Wall Street Rally
US: Following the slide in crude oil prices and the Nasdaq continuing to hit record highs, we anticipate that Wall Street will maintain its risk-on rotation into the tech sector. While we believe that most technology stocks are currently overbought, we think investors could take a position in Nvidia, underpinned by the growth potential of its upcoming Rubin architecture in late 2026. The integration of its next-generation Vera CPU and HBM4 memory in Rubin will drastically lower the cost of Agentic AI, offering a leap in efficiency and significantly higher memory bandwidth. Technically, Nvidia has also just rebounded from the 20-day EMA, offering a more attractive entry level.
MY: Tracking Wall Street’s positive performance, we anticipate a spillover effect to the FBM KLCI. Following Intel’s latest earnings outperformance, sentiment is expected to be positive for 3REN, MPI, and UWC, as they act as Intel’s proxies. Similarly, with Boeing and Airbus aggressively ramping up their delivery targets, SAM is also seeing a direct surge in order book replenishment for its precision machining units. Meanwhile, AMAT ramping up its wafer fabrication tools is benefitting SAM’s equipment manufacturing segment. Technically, SAM has rebounded above the 200-day MA after a recent pullback and is poised for further upward momentum.
Stocks to watch:
Technology: *3REN*, *DNEX*, ITMAX, NE, *THMY*, *UWC*
Construction: CBHB, *SUNCON*
Solar: *SLVEST*
Building Material: MSC
Automotive: BETA
**Source: M+ Global**
AI Supercycle Continues To Drive Wall Street Rally
US: Following the slide in crude oil prices and the Nasdaq continuing to hit record highs, we anticipate that Wall Street will maintain its risk-on rotation into the tech sector. While we believe that most technology stocks are currently overbought, we think investors could take a position in Nvidia, underpinned by the growth potential of its upcoming Rubin architecture in late 2026. The integration of its next-generation Vera CPU and HBM4 memory in Rubin will drastically lower the cost of Agentic AI, offering a leap in efficiency and significantly higher memory bandwidth. Technically, Nvidia has also just rebounded from the 20-day EMA, offering a more attractive entry level.
MY: Tracking Wall Street’s positive performance, we anticipate a spillover effect to the FBM KLCI. Following Intel’s latest earnings outperformance, sentiment is expected to be positive for 3REN, MPI, and UWC, as they act as Intel’s proxies. Similarly, with Boeing and Airbus aggressively ramping up their delivery targets, SAM is also seeing a direct surge in order book replenishment for its precision machining units. Meanwhile, AMAT ramping up its wafer fabrication tools is benefitting SAM’s equipment manufacturing segment. Technically, SAM has rebounded above the 200-day MA after a recent pullback and is poised for further upward momentum.
Stocks to watch:
Technology: *3REN*, *DNEX*, ITMAX, NE, *THMY*, *UWC*
Construction: CBHB, *SUNCON*
Solar: *SLVEST*
Building Material: MSC
Automotive: BETA
**Source: M+ Global**
M+ Morning Market Buzz - 7May26
Dow Jones: 49,910.59 pts (+612.34pts, +1.24%)
⬆️ Resistance: 51100
⬇️ Support: 47800
FBM KLCI: 1,756.87 pts (+9.44pts, +0.54%)
⬆️ Resistance: 1800
⬇️ Support: 1680
HSI Index: 26,213.78 pts (+315.17pts, +1.22%)
⬆️ Resistance: 26900
⬇️ Support: 25200
Crude Palm Oil: RM4,579 (+RM12, +0.26%)
⬆️ Resistance: 4810
⬇️ Support: 4460
Brent Oil: $101.27 (-$8.60, -7.83%)
⬆️ Resistance: 129.00
⬇️ Support: 94.90
Gold: $4,691.36 (+$3.05, +0.07%)
⬆️ Resistance: 4820
⬇️ Support: 4420
Source: Bloomberg, M+ Global
Dow Jones: 49,910.59 pts (+612.34pts, +1.24%)
⬆️ Resistance: 51100
⬇️ Support: 47800
FBM KLCI: 1,756.87 pts (+9.44pts, +0.54%)
⬆️ Resistance: 1800
⬇️ Support: 1680
HSI Index: 26,213.78 pts (+315.17pts, +1.22%)
⬆️ Resistance: 26900
⬇️ Support: 25200
Crude Palm Oil: RM4,579 (+RM12, +0.26%)
⬆️ Resistance: 4810
⬇️ Support: 4460
Brent Oil: $101.27 (-$8.60, -7.83%)
⬆️ Resistance: 129.00
⬇️ Support: 94.90
Gold: $4,691.36 (+$3.05, +0.07%)
⬆️ Resistance: 4820
⬇️ Support: 4420
Source: Bloomberg, M+ Global
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M+ Global Market Wrap - 7May26
FBM KLCI: 1,758.85 pts (+1.98pts, +0.11%)
The FBM KLCI (+0.11%) closed higher at 1758.85 as Tehran considered a US peace proposal, signalling a possible end to the conflict. The market breadth was positive, with 660 winners against 583 losers. Sector wise, Finance (+1.17%) outperformed, led by PBBANK (+10.0sen) and CIMB (+11.0sen) while, Energy (-2.40%) declined the most.
Top 3 Active stocks:
ZETRIX (0138): RM0.865 (-0.5 sen)
PHB (4464): RM0.005 (UNCH)
AAX (5238): RM1.30 (+5.0 sen)
Top 3 Gainer stocks:
NESTLE (4707): RM104.10 (+320.0 sen)
F&N (3689): RM30.02 (+92.0 sen)
ALLIANZ (1163): RM21.42 (+62.0 sen)
Top 3 Loser stocks:
PCHEM (5183): RM5.28 (-59.0 sen)
MISC (3816): RM8.37 (-31.0 sen)
GASMSIA (5209): RM5.30 (-20.0 sen)
Volume: 3.79 bn (100-bar avg vol: 3.02 bn)
Value: RM4.25 bn (100-bar avg val: RM3.07 bn)
Market Breadth: ⬆️660 ⬇️583
Crude Palm Oil: RM4,579 (-RM54, -1.18%)
Dow Futures: 50,058 pts (+24 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,758.85 pts (+1.98pts, +0.11%)
The FBM KLCI (+0.11%) closed higher at 1758.85 as Tehran considered a US peace proposal, signalling a possible end to the conflict. The market breadth was positive, with 660 winners against 583 losers. Sector wise, Finance (+1.17%) outperformed, led by PBBANK (+10.0sen) and CIMB (+11.0sen) while, Energy (-2.40%) declined the most.
Top 3 Active stocks:
ZETRIX (0138): RM0.865 (-0.5 sen)
PHB (4464): RM0.005 (UNCH)
AAX (5238): RM1.30 (+5.0 sen)
Top 3 Gainer stocks:
NESTLE (4707): RM104.10 (+320.0 sen)
F&N (3689): RM30.02 (+92.0 sen)
ALLIANZ (1163): RM21.42 (+62.0 sen)
Top 3 Loser stocks:
PCHEM (5183): RM5.28 (-59.0 sen)
MISC (3816): RM8.37 (-31.0 sen)
GASMSIA (5209): RM5.30 (-20.0 sen)
Volume: 3.79 bn (100-bar avg vol: 3.02 bn)
Value: RM4.25 bn (100-bar avg val: RM3.07 bn)
Market Breadth: ⬆️660 ⬇️583
Crude Palm Oil: RM4,579 (-RM54, -1.18%)
Dow Futures: 50,058 pts (+24 pts)
**Source: M+ Global, Bloomberg **
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Good Evening All,
We issued a technical buy call on Nextpower Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Nextpower Arabia JV unlocks high-growth MENA solar market
(ii) IRA 45X tax credits advantage
(iii) AI software to drive margin higher
Research Team, M+ Global
7 May 2026
We issued a technical buy call on Nextpower Inc: Your Trusted Guide to Global Trading | Malacca Securities (mplusonline.com)
Trading catalysts include:
(i) Nextpower Arabia JV unlocks high-growth MENA solar market
(ii) IRA 45X tax credits advantage
(iii) AI software to drive margin higher
Research Team, M+ Global
7 May 2026
M+ Global Market Update – 08May26
Wall Street Retreated As US-Iran Peace Hopes Faded
US: After rallying since the beginning of April, we view the current pullbacks on Wall Street healthy, particularly among semiconductor equipment leaders such as Lam Research and Applied Materials. We believe investors could initiate positions once prices reach the EMA20, underpinned by the structural transition towards Gate-All-Around (GAA) and HBM4 memory, technologies essential for the next phase of the AI infrastructure supercycle. Similarly, the retreat in Vertiv Holdings reflects a temporary breather following its parabolic run. With Microsoft and Alphabet confirming a combined US$500bn AI CapEx commitment, Vertiv remains a key proxy for the build-out of liquid-cooling and power-management systems.
MY: Tracking Wall Street’s negative performance, we anticipate the FBM KLCI may end the week softer following its recent winning streak. Meanwhile, investors might consider positioning for CBHB, which appears poised for a breakout supported by the nation’s data centre boom. We also continue to favour ECOWLD as the group holds substantial landbanks within the JSSEZ and has pivoted into high-growth industrial and data centre segments, capitalising on recent land sales to global tech giants like Microsoft and Princeton Digital Group. Lastly, interior fit-out services provider INSPACE (M+ TP: RM0.36) will make its ACE Market debut today.
Stocks to watch:
Technology: *CLOUDPT*, DUFU, *SCICOM*, *THMY*, UWC
Automotive: *DRBHCOM*, BETA
Consumer: *GCB*
Utility: IAB
Financial: *MNRB*
Construction: KEEMING
**Source: M+ Global**
Wall Street Retreated As US-Iran Peace Hopes Faded
US: After rallying since the beginning of April, we view the current pullbacks on Wall Street healthy, particularly among semiconductor equipment leaders such as Lam Research and Applied Materials. We believe investors could initiate positions once prices reach the EMA20, underpinned by the structural transition towards Gate-All-Around (GAA) and HBM4 memory, technologies essential for the next phase of the AI infrastructure supercycle. Similarly, the retreat in Vertiv Holdings reflects a temporary breather following its parabolic run. With Microsoft and Alphabet confirming a combined US$500bn AI CapEx commitment, Vertiv remains a key proxy for the build-out of liquid-cooling and power-management systems.
MY: Tracking Wall Street’s negative performance, we anticipate the FBM KLCI may end the week softer following its recent winning streak. Meanwhile, investors might consider positioning for CBHB, which appears poised for a breakout supported by the nation’s data centre boom. We also continue to favour ECOWLD as the group holds substantial landbanks within the JSSEZ and has pivoted into high-growth industrial and data centre segments, capitalising on recent land sales to global tech giants like Microsoft and Princeton Digital Group. Lastly, interior fit-out services provider INSPACE (M+ TP: RM0.36) will make its ACE Market debut today.
Stocks to watch:
Technology: *CLOUDPT*, DUFU, *SCICOM*, *THMY*, UWC
Automotive: *DRBHCOM*, BETA
Consumer: *GCB*
Utility: IAB
Financial: *MNRB*
Construction: KEEMING
**Source: M+ Global**
M+ Morning Market Buzz - 8May26
Dow Jones: 49,596.97 pts (-313.62pts, -0.63%)
⬆️ Resistance: 51200
⬇️ Support: 48000
FBM KLCI: 1,758.85 pts (+1.98pts, +0.11%)
⬆️ Resistance: 1810
⬇️ Support: 1700
HSI Index: 26,626.28 pts (+412.50pts, +1.57%)
⬆️ Resistance: 27300
⬇️ Support: 25200
Crude Palm Oil: RM4,541 (-RM18, -0.40%)
⬆️ Resistance: 4810
⬇️ Support: 4430
Brent Oil: $100.06 (+$2.41, +2.41%)
⬆️ Resistance: 117.70
⬇️ Support: 94.20
Gold: $4,685.80 (+$19.68, +0.42%)
⬆️ Resistance: 4870
⬇️ Support: 4420
Source: Bloomberg, M+ Global
Dow Jones: 49,596.97 pts (-313.62pts, -0.63%)
⬆️ Resistance: 51200
⬇️ Support: 48000
FBM KLCI: 1,758.85 pts (+1.98pts, +0.11%)
⬆️ Resistance: 1810
⬇️ Support: 1700
HSI Index: 26,626.28 pts (+412.50pts, +1.57%)
⬆️ Resistance: 27300
⬇️ Support: 25200
Crude Palm Oil: RM4,541 (-RM18, -0.40%)
⬆️ Resistance: 4810
⬇️ Support: 4430
Brent Oil: $100.06 (+$2.41, +2.41%)
⬆️ Resistance: 117.70
⬇️ Support: 94.20
Gold: $4,685.80 (+$19.68, +0.42%)
⬆️ Resistance: 4870
⬇️ Support: 4420
Source: Bloomberg, M+ Global
👏2
M+ Global Market Wrap - 8May26
FBM KLCI: 1,748.06 pts (-10.79pts, -0.61%)
The FBM KLCI (-0.61%) closed lower at 1748.06 as renewed tensions between the US and Iran threatened the fragile ceasefire. The market breadth was negative, with 451 winners against 709 losers. Sector wise, Healthcare (+2.14%) outperformed, led by TOPGLOV (+4.0sen) and KOSSAN (+8.0sen) as concerns mounted over a hantavirus outbreak connected to a cruise ship. Meanwhile, Plantation (-1.11%) declined the most. The IPO debutant INSPACE closed at RM0.255 compared to its IPO price of RM0.250.
Top 3 Active stocks:
TOPGLOV (7113): RM0.760 (+4.0 sen)
ZETRIX (0138): RM0.870 (+0.5 sen)
TANCO (2429): RM1.66 (+1.0 sen)
Top 3 Gainer stocks:
HLIND (3301): RM19.16 (+96.0 sen)
PETDAG (5681): RM21.06 (+50.0 sen)
IOIPG (5249): RM4.48 (+33.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM102.60 (-150.0 sen)
UTDPLT (2089): RM30.80 (-24.0 sen)
SDG (5285): RM6.06 (-14.0 sen)
Volume: 3.31 bn (100-bar avg vol: 3.02 bn)
Value: RM3.00 bn (100-bar avg val: RM3.09 bn)
Market Breadth: ⬆️451 ⬇️709
Crude Palm Oil: RM4,541 (-RM8, -0.18%)
Dow Futures: 49,834 pts (+134 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,748.06 pts (-10.79pts, -0.61%)
The FBM KLCI (-0.61%) closed lower at 1748.06 as renewed tensions between the US and Iran threatened the fragile ceasefire. The market breadth was negative, with 451 winners against 709 losers. Sector wise, Healthcare (+2.14%) outperformed, led by TOPGLOV (+4.0sen) and KOSSAN (+8.0sen) as concerns mounted over a hantavirus outbreak connected to a cruise ship. Meanwhile, Plantation (-1.11%) declined the most. The IPO debutant INSPACE closed at RM0.255 compared to its IPO price of RM0.250.
Top 3 Active stocks:
TOPGLOV (7113): RM0.760 (+4.0 sen)
ZETRIX (0138): RM0.870 (+0.5 sen)
TANCO (2429): RM1.66 (+1.0 sen)
Top 3 Gainer stocks:
HLIND (3301): RM19.16 (+96.0 sen)
PETDAG (5681): RM21.06 (+50.0 sen)
IOIPG (5249): RM4.48 (+33.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM102.60 (-150.0 sen)
UTDPLT (2089): RM30.80 (-24.0 sen)
SDG (5285): RM6.06 (-14.0 sen)
Volume: 3.31 bn (100-bar avg vol: 3.02 bn)
Value: RM3.00 bn (100-bar avg val: RM3.09 bn)
Market Breadth: ⬆️451 ⬇️709
Crude Palm Oil: RM4,541 (-RM8, -0.18%)
Dow Futures: 49,834 pts (+134 pts)
**Source: M+ Global, Bloomberg **
M+ Global Market Update – 11May26
Wall Street Continues To Be Led By AI Strength
US: As the Nasdaq hits a record high following a positive surprise in non-farm payrolls, we anticipate that Wall Street maintaining risk-on mode within the tech sector. Meanwhile, after a heavy sell-off in Oracle due to AI capex concerns, we favour the recovery in Oracle’s share price; supported by (i) a record US$553bn remaining performance obligations (RPO) backlog, (ii) 84% YoY revenue growth in Oracle Cloud Infrastructure for 3QFY26, and (iii) its "Stargate" partnership with OpenAI to build massive AI training superclusters. Lastly, traders may position within the intelligent solar tracker provider Nextpower Inc following its expansion into the Middle East and transition into AI software, which will drive margins higher.
MY: As Wall Street ended last week higher, we believe the FBM KLCI will start the week on a stronger footing. Following the recent hantavirus outbreak, we believe trading interest may favour glove counters, at least in the near term. As the market re-rates property developers based on their ability to monetise land for the AI infrastructure boom, developers with data centre and industrial exposure, such as SIMEPROP and ECOWLD are anticipated to see increasing buying interest. Also, we favour EG as it has broken above the MA200 and is expected to benefit from the ramping up of 1.6T optical transmitter production.
Stocks to watch:
Gloves: *HARTA*, *KOSSAN*, TOPGLOV
Utility: *RANHILL*, SLVEST
Construction: *CBHB*, SUNCON
Technology: *VITROX*
Healthcare: *KPJ*
Building Material: MSC
Property: IOIPG
**Source: M+ Global**
Wall Street Continues To Be Led By AI Strength
US: As the Nasdaq hits a record high following a positive surprise in non-farm payrolls, we anticipate that Wall Street maintaining risk-on mode within the tech sector. Meanwhile, after a heavy sell-off in Oracle due to AI capex concerns, we favour the recovery in Oracle’s share price; supported by (i) a record US$553bn remaining performance obligations (RPO) backlog, (ii) 84% YoY revenue growth in Oracle Cloud Infrastructure for 3QFY26, and (iii) its "Stargate" partnership with OpenAI to build massive AI training superclusters. Lastly, traders may position within the intelligent solar tracker provider Nextpower Inc following its expansion into the Middle East and transition into AI software, which will drive margins higher.
MY: As Wall Street ended last week higher, we believe the FBM KLCI will start the week on a stronger footing. Following the recent hantavirus outbreak, we believe trading interest may favour glove counters, at least in the near term. As the market re-rates property developers based on their ability to monetise land for the AI infrastructure boom, developers with data centre and industrial exposure, such as SIMEPROP and ECOWLD are anticipated to see increasing buying interest. Also, we favour EG as it has broken above the MA200 and is expected to benefit from the ramping up of 1.6T optical transmitter production.
Stocks to watch:
Gloves: *HARTA*, *KOSSAN*, TOPGLOV
Utility: *RANHILL*, SLVEST
Construction: *CBHB*, SUNCON
Technology: *VITROX*
Healthcare: *KPJ*
Building Material: MSC
Property: IOIPG
**Source: M+ Global**
👍2
M+ Morning Market Buzz - 11May26
Dow Jones: 49,609.16 pts (+12.19pts, +0.02%)
⬆️ Resistance: 51200
⬇️ Support: 48000
FBM KLCI: 1,748.06 pts (-10.79pts, -0.61%)
⬆️ Resistance: 1810
⬇️ Support: 1700
HSI Index: 26,393.71 pts (-232.57pts, -0.87%)
⬆️ Resistance: 27300
⬇️ Support: 25200
Crude Palm Oil: RM4,505 (-RM36, -0.79%)
⬆️ Resistance: 4810
⬇️ Support: 4410
Brent Oil: $101.29 (+$2.64, +2.61%)
⬆️ Resistance: 117.70
⬇️ Support: 94.20
Gold: $4,715.25 (-$27.33, -0.58%)
⬆️ Resistance: 4870
⬇️ Support: 4420
Source: Bloomberg, M+ Global
Dow Jones: 49,609.16 pts (+12.19pts, +0.02%)
⬆️ Resistance: 51200
⬇️ Support: 48000
FBM KLCI: 1,748.06 pts (-10.79pts, -0.61%)
⬆️ Resistance: 1810
⬇️ Support: 1700
HSI Index: 26,393.71 pts (-232.57pts, -0.87%)
⬆️ Resistance: 27300
⬇️ Support: 25200
Crude Palm Oil: RM4,505 (-RM36, -0.79%)
⬆️ Resistance: 4810
⬇️ Support: 4410
Brent Oil: $101.29 (+$2.64, +2.61%)
⬆️ Resistance: 117.70
⬇️ Support: 94.20
Gold: $4,715.25 (-$27.33, -0.58%)
⬆️ Resistance: 4870
⬇️ Support: 4420
Source: Bloomberg, M+ Global
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