Good Afternoon All,
After attending AEON Credit Service (M) Berhad’s 1QFYE27 results briefing, here are our quick take for investors:
📈 Investment Highlights
📌 Strong opening to FYE27 with core PAT expanding 20.5% YoY to RM93.4m, backed by a 7.9% top-line growth to RM647.6m driven by stronger loan and financing growth.
📌 Gross Financing Receivables grew 9.8% YoY from RM14.6bn to RM16.1bn, led by double-digit expansions in the Payment Business (+14.1% YoY) and Personal Financing (+10.8% YoY).
📌 Premium segments gaining traction, with Superbike transaction volumes surging 48.7% YoY during the Hari Raya period
📌 Cost optimization via digitalization, as the Cost-to-Income Ratio (CIR, excluding impairment losses) improved to 26.7% (vs. 27.8% in 1QFYE26), aided by stringent cost management and automated AI Voice Bots that now handle 10% of low-risk D0 collection calls.
📌 Healthy and stable asset quality with the Non-Performing Loan (NPL) ratio well-contained at 2.60% (down from 2.61% in 4QFYE26) and a Loan Loss Coverage ratio of 195% providing comfortable buffers.
📌 New monetization and recovery horizons, with management exploring bad debt sales in FYE27 (targeting proceeds of RM20-40m) and gearing up to launch the 1st phase of its AEON360 Ecosystem Customer Development Platform (CDP) in July 2026.
💡 M+ Global View
📌 We like AEON Credit’s integration into the massive AEON retail ecosystem via AEON360 and its data-sharing initiatives as its competitive advantage, providing a low-cost customer acquisition funnel. While near-term bottom-line growth is partially tempered by its 50% share of losses from AEON Bank, it’s part of the gestation cost for a digital banking entity tracking cleanly toward a Year 5 breakeven target.
📌 The deployment of cost-saving infrastructure like the Data & AI Centre of Excellence launched in June 2026 will continue to insulate operating margins and slashes personnel overhead costs or problems.
📌 In short, some of AEON Credit catalysts include (i) higher financing receivables and transaction volume leading to stronger income growth, (ii) better operational efficiencies from 24/7 AI-driven collection bots and establishment of data and AI centre of excellence, and (iii) immediate catalysts from upcoming ecosystem data-monetization like AEON360 and bad debt sales.
M+ Global Research Team
10Jul26
After attending AEON Credit Service (M) Berhad’s 1QFYE27 results briefing, here are our quick take for investors:
📈 Investment Highlights
📌 Strong opening to FYE27 with core PAT expanding 20.5% YoY to RM93.4m, backed by a 7.9% top-line growth to RM647.6m driven by stronger loan and financing growth.
📌 Gross Financing Receivables grew 9.8% YoY from RM14.6bn to RM16.1bn, led by double-digit expansions in the Payment Business (+14.1% YoY) and Personal Financing (+10.8% YoY).
📌 Premium segments gaining traction, with Superbike transaction volumes surging 48.7% YoY during the Hari Raya period
📌 Cost optimization via digitalization, as the Cost-to-Income Ratio (CIR, excluding impairment losses) improved to 26.7% (vs. 27.8% in 1QFYE26), aided by stringent cost management and automated AI Voice Bots that now handle 10% of low-risk D0 collection calls.
📌 Healthy and stable asset quality with the Non-Performing Loan (NPL) ratio well-contained at 2.60% (down from 2.61% in 4QFYE26) and a Loan Loss Coverage ratio of 195% providing comfortable buffers.
📌 New monetization and recovery horizons, with management exploring bad debt sales in FYE27 (targeting proceeds of RM20-40m) and gearing up to launch the 1st phase of its AEON360 Ecosystem Customer Development Platform (CDP) in July 2026.
💡 M+ Global View
📌 We like AEON Credit’s integration into the massive AEON retail ecosystem via AEON360 and its data-sharing initiatives as its competitive advantage, providing a low-cost customer acquisition funnel. While near-term bottom-line growth is partially tempered by its 50% share of losses from AEON Bank, it’s part of the gestation cost for a digital banking entity tracking cleanly toward a Year 5 breakeven target.
📌 The deployment of cost-saving infrastructure like the Data & AI Centre of Excellence launched in June 2026 will continue to insulate operating margins and slashes personnel overhead costs or problems.
📌 In short, some of AEON Credit catalysts include (i) higher financing receivables and transaction volume leading to stronger income growth, (ii) better operational efficiencies from 24/7 AI-driven collection bots and establishment of data and AI centre of excellence, and (iii) immediate catalysts from upcoming ecosystem data-monetization like AEON360 and bad debt sales.
M+ Global Research Team
10Jul26
M+ Global Market Wrap - 10Jul26
FBM KLCI: 1,691.49 pts (+13.85pts, +0.83%)
The local bourse traded on a positive note today as investors looked past the continued uncertainty surrounding U.S.-Iran ceasefire talks. Market breadth remained positive, with 648 gainers outpacing 444 losers. The FBM KLCI was lifted by SUNWAY (+17.0 sen) and PMETAL (+14.0 sen). Sector-wise, Plantation (+1.38%) outperformed, led by IOICORP (+15.0 sen) and SDG (+8.0 sen), while Energy (-0.66%) was the biggest laggard.
Top 3 Active stocks:
TANCO (2429): RM0.195 (+0.5 sen)
ZETRIX (0138): RM0.750 (+2.5 sen)
NATGATE (0270): RM0.880 (+7.5 sen)
Top 3 Gainer stocks:
F&N (3689): RM29.70 (+78.0 sen)
NESTLE (4707): RM91.80 (+50.0 sen)
DKLS (7528): RM1.83 (+41.0 sen)
Top 3 Loser stocks:
ALLIANZ (1163): RM20.84 (-28.0 sen)
MPI (3867): RM46.00 (-26.0 sen)
VITROX (0097): RM7.39 (-15.0 sen)
Volume: 2.85 bn (100-bar avg vol: 3.28 bn)
Value: RM2.25 bn (100-bar avg val: RM3.26 bn)
Market Breadth: ⬆️648 ⬇️444
Crude Palm Oil: RM4,594 (-RM76, -1.65%)
Dow Futures: 52,829 pts (+68 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,691.49 pts (+13.85pts, +0.83%)
The local bourse traded on a positive note today as investors looked past the continued uncertainty surrounding U.S.-Iran ceasefire talks. Market breadth remained positive, with 648 gainers outpacing 444 losers. The FBM KLCI was lifted by SUNWAY (+17.0 sen) and PMETAL (+14.0 sen). Sector-wise, Plantation (+1.38%) outperformed, led by IOICORP (+15.0 sen) and SDG (+8.0 sen), while Energy (-0.66%) was the biggest laggard.
Top 3 Active stocks:
TANCO (2429): RM0.195 (+0.5 sen)
ZETRIX (0138): RM0.750 (+2.5 sen)
NATGATE (0270): RM0.880 (+7.5 sen)
Top 3 Gainer stocks:
F&N (3689): RM29.70 (+78.0 sen)
NESTLE (4707): RM91.80 (+50.0 sen)
DKLS (7528): RM1.83 (+41.0 sen)
Top 3 Loser stocks:
ALLIANZ (1163): RM20.84 (-28.0 sen)
MPI (3867): RM46.00 (-26.0 sen)
VITROX (0097): RM7.39 (-15.0 sen)
Volume: 2.85 bn (100-bar avg vol: 3.28 bn)
Value: RM2.25 bn (100-bar avg val: RM3.26 bn)
Market Breadth: ⬆️648 ⬇️444
Crude Palm Oil: RM4,594 (-RM76, -1.65%)
Dow Futures: 52,829 pts (+68 pts)
**Source: M+ Global, Bloomberg **
M+ Morning Market Buzz - 13Jul26
Dow Jones: 52,637.01 pts (+149.60pts, +0.29%)
⬆️ Resistance: 54400
⬇️ Support: 51100
FBM KLCI: 1,691.49 pts (+13.85pts, +0.83%)
⬆️ Resistance: 1740
⬇️ Support: 1650
HSI Index: 24,175.12 pts (+144.94pts, +0.60%)
⬆️ Resistance: 25000
⬇️ Support: 22800
Crude Palm Oil: RM4,513 (-RM81, -1.76%)
⬆️ Resistance: 4730
⬇️ Support: 4410
Brent Oil: $76.01 (+$2.44, +3.21%)
⬆️ Resistance: 82.30
⬇️ Support: 69.60
Gold: $4,119.93 (-$48.48, -1.18%)
⬆️ Resistance: 4290
⬇️ Support: 3950
Source: Bloomberg, M+ Global
Dow Jones: 52,637.01 pts (+149.60pts, +0.29%)
⬆️ Resistance: 54400
⬇️ Support: 51100
FBM KLCI: 1,691.49 pts (+13.85pts, +0.83%)
⬆️ Resistance: 1740
⬇️ Support: 1650
HSI Index: 24,175.12 pts (+144.94pts, +0.60%)
⬆️ Resistance: 25000
⬇️ Support: 22800
Crude Palm Oil: RM4,513 (-RM81, -1.76%)
⬆️ Resistance: 4730
⬇️ Support: 4410
Brent Oil: $76.01 (+$2.44, +3.21%)
⬆️ Resistance: 82.30
⬇️ Support: 69.60
Gold: $4,119.93 (-$48.48, -1.18%)
⬆️ Resistance: 4290
⬇️ Support: 3950
Source: Bloomberg, M+ Global
👍2
M+ Global Market Update – 13Jul26
Hormuz Reopening Ignites Market Rally
US: Despite last week's missile strikes in the Middle East, the U.S. Central Command (CENTCOM) confirmed that the Strait of Hormuz remains fully open and maritime shipping traffic continues to flow smoothly. Thus, we expect the global equity markets to decisively pivot back into a "risk-on" mode, where this shift should create significant upside opportunities across the broader Technology sector, which continues to be the primary beneficiary of the structural AI supercycle. Moreover, market sentiment surrounding pure-play memory chipmakers, such as Micron, Western Digital and SanDisk, will be substantially bolstered by SK Hynix’s record-breaking, multi-billion-dollar Nasdaq debut last week.
MY: Closer to home, we expect positive sentiment to spill over following confirmation that the Strait of Hormuz remains open. We expect the Energy sector to soften as Brent crude prices pull back, prompting funds to shift toward domestic growth stories. We favour AGX Group Berhad (AGX) for its 2.2-sen special dividend (~5.2% yield) ahead of Wednesday's ex-date, backed by an aerospace logistics monopoly that effortlessly passes on surging freight tariffs. Meanwhile, Mi Technovation Berhad (MI) remains a resilient tactical buy, with its upcoming SGX Mainboard spin-off acting as an independent corporate re-rating catalyst.
Stocks to watch:
Technology: FRONTKN, *MCLEAN*, NATGATE, *SCICOM*, *VSTECS*
Consumer: *LHI*, *LWSABAH*
Construction: *SUNCON*, UUE
Property: SCIENTX
Plantation: WTK
**Source: M+ Global**
Hormuz Reopening Ignites Market Rally
US: Despite last week's missile strikes in the Middle East, the U.S. Central Command (CENTCOM) confirmed that the Strait of Hormuz remains fully open and maritime shipping traffic continues to flow smoothly. Thus, we expect the global equity markets to decisively pivot back into a "risk-on" mode, where this shift should create significant upside opportunities across the broader Technology sector, which continues to be the primary beneficiary of the structural AI supercycle. Moreover, market sentiment surrounding pure-play memory chipmakers, such as Micron, Western Digital and SanDisk, will be substantially bolstered by SK Hynix’s record-breaking, multi-billion-dollar Nasdaq debut last week.
MY: Closer to home, we expect positive sentiment to spill over following confirmation that the Strait of Hormuz remains open. We expect the Energy sector to soften as Brent crude prices pull back, prompting funds to shift toward domestic growth stories. We favour AGX Group Berhad (AGX) for its 2.2-sen special dividend (~5.2% yield) ahead of Wednesday's ex-date, backed by an aerospace logistics monopoly that effortlessly passes on surging freight tariffs. Meanwhile, Mi Technovation Berhad (MI) remains a resilient tactical buy, with its upcoming SGX Mainboard spin-off acting as an independent corporate re-rating catalyst.
Stocks to watch:
Technology: FRONTKN, *MCLEAN*, NATGATE, *SCICOM*, *VSTECS*
Consumer: *LHI*, *LWSABAH*
Construction: *SUNCON*, UUE
Property: SCIENTX
Plantation: WTK
**Source: M+ Global**
👍5
M+ Global Market Wrap - 13Jul26
FBM KLCI: 1,698.44 pts (+6.95pts, +0.41%)
Despite the renewed uncertainty in the US-Iran tensions, the local bourse advanced today as a spike in crude palm oil prices sparked gains in plantation heavyweights stocks. However, overall market breadth remained negative, with 654 losers outpacing 440 gainers. The FBM KLCI was buoyed by SDG (+21.0 sen) and PMETAL (+15.0 sen). Sector-wise, the Plantation index (+2.01%) outperformed, led by SDG (+21.0 sen) and IOICORP (+9.0 sen), while Technology (-1.77%) lagged the most, mirroring global chip sector weakness.
Top 3 Active stocks:
TANCO (2429): RM0.240 (+4.5 sen)
ZETRIX (0138): RM0.765 (+1.5 sen)
VS (6963): RM0.210 (+1.5 sen)
Top 3 Gainer stocks:
UTDPLT (2089): RM35.02 (+76.0 sen)
KLK (2445): RM21.88 (+28.0 sen)
SDG (5285): RM6.45 (+21.0 sen)
Top 3 Loser stocks:
MPI (3867): RM44.30 (-170.0 sen)
F&N (3689): RM28.94 (-76.0 sen)
PETDAG (5681): RM19.22 (-34.0 sen)
Volume: 3.10 bn (100-bar avg vol: 3.29 bn)
Value: RM2.24 bn (100-bar avg val: RM3.25 bn)
Market Breadth: ⬆️440 ⬇️654
Crude Palm Oil: RM4,513 (+RM9, +0.20%)
Dow Futures: 52,955 pts (+49 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,698.44 pts (+6.95pts, +0.41%)
Despite the renewed uncertainty in the US-Iran tensions, the local bourse advanced today as a spike in crude palm oil prices sparked gains in plantation heavyweights stocks. However, overall market breadth remained negative, with 654 losers outpacing 440 gainers. The FBM KLCI was buoyed by SDG (+21.0 sen) and PMETAL (+15.0 sen). Sector-wise, the Plantation index (+2.01%) outperformed, led by SDG (+21.0 sen) and IOICORP (+9.0 sen), while Technology (-1.77%) lagged the most, mirroring global chip sector weakness.
Top 3 Active stocks:
TANCO (2429): RM0.240 (+4.5 sen)
ZETRIX (0138): RM0.765 (+1.5 sen)
VS (6963): RM0.210 (+1.5 sen)
Top 3 Gainer stocks:
UTDPLT (2089): RM35.02 (+76.0 sen)
KLK (2445): RM21.88 (+28.0 sen)
SDG (5285): RM6.45 (+21.0 sen)
Top 3 Loser stocks:
MPI (3867): RM44.30 (-170.0 sen)
F&N (3689): RM28.94 (-76.0 sen)
PETDAG (5681): RM19.22 (-34.0 sen)
Volume: 3.10 bn (100-bar avg vol: 3.29 bn)
Value: RM2.24 bn (100-bar avg val: RM3.25 bn)
Market Breadth: ⬆️440 ⬇️654
Crude Palm Oil: RM4,513 (+RM9, +0.20%)
Dow Futures: 52,955 pts (+49 pts)
**Source: M+ Global, Bloomberg **
👍2
M+ Market Buzz - 14Jul26
Dow Jones: 52,498.64 pts (-138.37pts, -0.26%)
⬆️ Resistance: 54400
⬇️ Support: 51100
FBM KLCI: 1,698.44 pts (+6.95pts, +0.41%)
⬆️ Resistance: 1740
⬇️ Support: 1650
HSI Index: 24,213.72 pts (+38.60pts, +0.16%)
⬆️ Resistance: 25000
⬇️ Support: 23000
Crude Palm Oil: RM4,533 (+RM10, +0.22%)
⬆️ Resistance: 4730
⬇️ Support: 4410
Brent Oil: $83.30 (+$7.29, +9.59%)
⬆️ Resistance: 85.60
⬇️ Support: 70.60
Gold: $4,002.39 (+$0.46, +0.01%)
⬆️ Resistance: 4270
⬇️ Support: 3910
Source: Bloomberg, M+ Global
Dow Jones: 52,498.64 pts (-138.37pts, -0.26%)
⬆️ Resistance: 54400
⬇️ Support: 51100
FBM KLCI: 1,698.44 pts (+6.95pts, +0.41%)
⬆️ Resistance: 1740
⬇️ Support: 1650
HSI Index: 24,213.72 pts (+38.60pts, +0.16%)
⬆️ Resistance: 25000
⬇️ Support: 23000
Crude Palm Oil: RM4,533 (+RM10, +0.22%)
⬆️ Resistance: 4730
⬇️ Support: 4410
Brent Oil: $83.30 (+$7.29, +9.59%)
⬆️ Resistance: 85.60
⬇️ Support: 70.60
Gold: $4,002.39 (+$0.46, +0.01%)
⬆️ Resistance: 4270
⬇️ Support: 3910
Source: Bloomberg, M+ Global
👍3👏1
M+ Global Market Update – 14Jul26
Local Bourse Shrugs Off Global Shocks
US: Given the shifting geopolitical dynamics, we expect Wall Street to lean into selective energy anchors as broader equities and US Treasuries decline following President Trump’s declaration to reinstate the blockade of Iranian ships in the Strait of Hormuz. While this escalation raises the risk of energy-driven inflation, we still believe the market could stay calmer than it was in February, highlighting growing geopolitical desensitisation rather than systemic panic. In view of the spike in Brent oil, we think investors may find a footing in Chevron (CVX) and ExxonMobil (XOM); both possess decent upstream fundamentals and are flashing strong technical breakouts as prime beneficiaries of defensive institutional rotation.
MY: Despite volatility across global markets, we expect the FBM KLCI to remain resilient following the conclusion of the Johor state election, as fund flows potentially shift towards high-alpha domestic growth stories. RAMSSOL’s recent headlines have been positive, as it unlocked a major catalyst via its AI platform partnership with Wofeng Global to compound its robust earnings recovery and regional expansion, while EDELTEQ presents a healthy entry point for a tech turnaround, where resilient double-digit top-line growth provides a sturdy fundamental cushion for a swift technical rebound.
Stocks to watch:
O&G: *DAYANG*, *PCHEM*, WASCO
Consumer: 99SMART, *ECOSHOP*
Plantation: JPG, *WTK*
Financial: *CIMB*, PBBANK
Utility: *GENERGY*
Transportation: *WPRTS*
Property: UEMS
**Source: M+ Global**
Local Bourse Shrugs Off Global Shocks
US: Given the shifting geopolitical dynamics, we expect Wall Street to lean into selective energy anchors as broader equities and US Treasuries decline following President Trump’s declaration to reinstate the blockade of Iranian ships in the Strait of Hormuz. While this escalation raises the risk of energy-driven inflation, we still believe the market could stay calmer than it was in February, highlighting growing geopolitical desensitisation rather than systemic panic. In view of the spike in Brent oil, we think investors may find a footing in Chevron (CVX) and ExxonMobil (XOM); both possess decent upstream fundamentals and are flashing strong technical breakouts as prime beneficiaries of defensive institutional rotation.
MY: Despite volatility across global markets, we expect the FBM KLCI to remain resilient following the conclusion of the Johor state election, as fund flows potentially shift towards high-alpha domestic growth stories. RAMSSOL’s recent headlines have been positive, as it unlocked a major catalyst via its AI platform partnership with Wofeng Global to compound its robust earnings recovery and regional expansion, while EDELTEQ presents a healthy entry point for a tech turnaround, where resilient double-digit top-line growth provides a sturdy fundamental cushion for a swift technical rebound.
Stocks to watch:
O&G: *DAYANG*, *PCHEM*, WASCO
Consumer: 99SMART, *ECOSHOP*
Plantation: JPG, *WTK*
Financial: *CIMB*, PBBANK
Utility: *GENERGY*
Transportation: *WPRTS*
Property: UEMS
**Source: M+ Global**
M+ Global Market Wrap - 14Jul26
FBM KLCI: 1,719.94 pts (+21.50pts, +1.27%)
The local bourse surged today as robust buying interest was observed within banking and commodity heavyweights, as buyers brushed off overnight weakness on Wall Street following the escalating US-Iran tension. Market breadth was negative with 549 losers outpacing 538 gainers. Despite this, the FBM KLCI was buoyed by PCHEM (+44.0 sen) and PMETAL (+34.0 sen). Sector wise, Industrial Products (+2.72%) outperformed, led by PCHEM (+44.0 sen) and PMETAL (+34.0 sen), while Telecommunications (-0.93%) lagged the most.
Top 3 Active stocks:
TANCO (2429): RM0.315 (+7.5 sen)
VELESTO (5243): RM0.270 (-1.5 sen)
HHRG (0175): RM0.150 (+3.5 sen)
Top 3 Gainer stocks:
PCHEM (5183): RM4.79 (+44.0 sen)
PETGAS (6033): RM17.88 (+42.0 sen)
HLBANK (5819): RM22.24 (+36.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM90.50 (-122.0 sen)
UTDPLT (2089): RM34.54 (-48.0 sen)
ALLIANZ (1163): RM20.64 (-32.0 sen)
Volume: 3.53 bn (100-bar avg vol: 3.30 bn)
Value: RM2.76 bn (100-bar avg val: RM3.25 bn)
Market Breadth: ⬆️538 ⬇️549
Crude Palm Oil: RM4,533 (+RM53, +1.17%)
Dow Futures: 52,592 pts (-172 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,719.94 pts (+21.50pts, +1.27%)
The local bourse surged today as robust buying interest was observed within banking and commodity heavyweights, as buyers brushed off overnight weakness on Wall Street following the escalating US-Iran tension. Market breadth was negative with 549 losers outpacing 538 gainers. Despite this, the FBM KLCI was buoyed by PCHEM (+44.0 sen) and PMETAL (+34.0 sen). Sector wise, Industrial Products (+2.72%) outperformed, led by PCHEM (+44.0 sen) and PMETAL (+34.0 sen), while Telecommunications (-0.93%) lagged the most.
Top 3 Active stocks:
TANCO (2429): RM0.315 (+7.5 sen)
VELESTO (5243): RM0.270 (-1.5 sen)
HHRG (0175): RM0.150 (+3.5 sen)
Top 3 Gainer stocks:
PCHEM (5183): RM4.79 (+44.0 sen)
PETGAS (6033): RM17.88 (+42.0 sen)
HLBANK (5819): RM22.24 (+36.0 sen)
Top 3 Loser stocks:
NESTLE (4707): RM90.50 (-122.0 sen)
UTDPLT (2089): RM34.54 (-48.0 sen)
ALLIANZ (1163): RM20.64 (-32.0 sen)
Volume: 3.53 bn (100-bar avg vol: 3.30 bn)
Value: RM2.76 bn (100-bar avg val: RM3.25 bn)
Market Breadth: ⬆️538 ⬇️549
Crude Palm Oil: RM4,533 (+RM53, +1.17%)
Dow Futures: 52,592 pts (-172 pts)
**Source: M+ Global, Bloomberg **
M+ Market Buzz - 15Jul26
Dow Jones: 52,508.27 pts (+9.63pts, +0.02%)
⬆️ Resistance: 54000
⬇️ Support: 51100
FBM KLCI: 1,719.94 pts (+21.50pts, +1.27%)
⬆️ Resistance: 1760
⬇️ Support: 1650
HSI Index: 24,340.73 pts (+127.01pts, +0.52%)
⬆️ Resistance: 25000
⬇️ Support: 23100
Crude Palm Oil: RM4,573 (-RM13, -0.28%)
⬆️ Resistance: 4730
⬇️ Support: 4410
Brent Oil: $84.73 (+$1.43, +1.72%)
⬆️ Resistance: 89.40
⬇️ Support: 73.80
Gold: $4,052.85 (-$0.86, -0.02%)
⬆️ Resistance: 4230
⬇️ Support: 3910
Source: Bloomberg, M+Global
Dow Jones: 52,508.27 pts (+9.63pts, +0.02%)
⬆️ Resistance: 54000
⬇️ Support: 51100
FBM KLCI: 1,719.94 pts (+21.50pts, +1.27%)
⬆️ Resistance: 1760
⬇️ Support: 1650
HSI Index: 24,340.73 pts (+127.01pts, +0.52%)
⬆️ Resistance: 25000
⬇️ Support: 23100
Crude Palm Oil: RM4,573 (-RM13, -0.28%)
⬆️ Resistance: 4730
⬇️ Support: 4410
Brent Oil: $84.73 (+$1.43, +1.72%)
⬆️ Resistance: 89.40
⬇️ Support: 73.80
Gold: $4,052.85 (-$0.86, -0.02%)
⬆️ Resistance: 4230
⬇️ Support: 3910
Source: Bloomberg, M+Global
👍2
M+ Global Market Update – 15Jul26
Cooling US CPI to Spark Global Risk-On Rotation
US: Wall Street could be positioned for a growth-led extension as a softer-than-expected CPI report triggered a sharp retreat in US Treasury yields, mitigating Fed tightening anxieties. With headline inflation cooling to 3.5% alongside oil prices hovering around USD80–90 per barrel, institutional flows rotated aggressively back into mega-cap tech and AI hardware leaders. We favour Alphabet Inc (GOOGL) and Dell Technologies (DELL); both are poised to benefit from corporate capital expenditure pivoting towards AI infrastructure over legacy IT software.
MY: Mirroring this global risk-on momentum, the FBM KLCI is poised for a buoyant session, with the overnight Nasdaq chip surge expected to ignite a swift tactical rally across local technology counters. The explicit US shift towards AI hardware directly bodes well for outsourced semiconductor assembly and test (OSAT) leaders such as INARI and engineering support proxies such as FRONTKN. Furthermore, this broader relief, coupled with the conclusion of the Johor state election, provides a strong macro tailwind for financial heavyweights, allowing CIMB and MAYBANK to cleanly extend their recent moving average breakouts on the back of sustained institutional inflows.
Stocks to watch:
Technology: CORAZA, *MCLEAN*, *NATGATE*
Building Material: CMSB, *MCEMENT*
Utility: GENERGY, *RANHILL*
Plantation: *THPLANT*
Consumer: *BAUTO*
Construction: GDB
**Source: M+ Global**
Cooling US CPI to Spark Global Risk-On Rotation
US: Wall Street could be positioned for a growth-led extension as a softer-than-expected CPI report triggered a sharp retreat in US Treasury yields, mitigating Fed tightening anxieties. With headline inflation cooling to 3.5% alongside oil prices hovering around USD80–90 per barrel, institutional flows rotated aggressively back into mega-cap tech and AI hardware leaders. We favour Alphabet Inc (GOOGL) and Dell Technologies (DELL); both are poised to benefit from corporate capital expenditure pivoting towards AI infrastructure over legacy IT software.
MY: Mirroring this global risk-on momentum, the FBM KLCI is poised for a buoyant session, with the overnight Nasdaq chip surge expected to ignite a swift tactical rally across local technology counters. The explicit US shift towards AI hardware directly bodes well for outsourced semiconductor assembly and test (OSAT) leaders such as INARI and engineering support proxies such as FRONTKN. Furthermore, this broader relief, coupled with the conclusion of the Johor state election, provides a strong macro tailwind for financial heavyweights, allowing CIMB and MAYBANK to cleanly extend their recent moving average breakouts on the back of sustained institutional inflows.
Stocks to watch:
Technology: CORAZA, *MCLEAN*, *NATGATE*
Building Material: CMSB, *MCEMENT*
Utility: GENERGY, *RANHILL*
Plantation: *THPLANT*
Consumer: *BAUTO*
Construction: GDB
**Source: M+ Global**
👍4
M+ Global Market Wrap - 15Jul26
FBM KLCI: 1,713.76 pts (-6.18pts, -0.36%)
Following renewed US strikes against Iran, the reinstatement of a naval blockade near the Strait of Hormuz, and the declared end of the US-Iran ceasefire, the local bourse traded cautiously. Despite the tension, market breadth remained positive with 590 gainers outpacing 475 losers. The FBM KLCI was dragged down primarily by PMETAL (-17.0 sen) and PCHEM (-21.0 sen), while Industrial Products (-0.93%) lagged the most. On the other hand, the Technology sector (+2.04%) outperformed, led by VITROX (+21.0 sen) and MPI (+134.0 sen) on strong global AI chip demand and local data center initiatives. Meanwhile, IPO debutant ENEST closed its first day at RM0.105, down from its initial IPO price of RM0.13.
Top 3 Active stocks:
TANCO (2429): RM0.315 (UNCH)
VS (6963): RM0.220 (+1.0 sen)
HHRG (0175): RM0.165 (+1.5 sen)
Top 3 Gainer stocks:
NESTLE (4707): RM92.00 (+150.0 sen)
MPI (3867): RM45.74 (+134.0 sen)
KLUANG (2453): RM6.45 (+35.0 sen)
Top 3 Loser stocks:
BKAWAN (1899): RM21.32 (-38.0 sen)
LPI (8621): RM15.00 (-38.0 sen)
PETGAS (6033): RM17.62 (-26.0 sen)
Volume: 4.08 bn (100-bar avg vol: 3.31 bn)
Value: RM2.84 bn (100-bar avg val: RM3.25 bn)
Market Breadth: ⬆️590 ⬇️475
Crude Palm Oil: RM4,573 (-RM19, -0.42%)
Dow Futures: 52,877 pts (+86 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,713.76 pts (-6.18pts, -0.36%)
Following renewed US strikes against Iran, the reinstatement of a naval blockade near the Strait of Hormuz, and the declared end of the US-Iran ceasefire, the local bourse traded cautiously. Despite the tension, market breadth remained positive with 590 gainers outpacing 475 losers. The FBM KLCI was dragged down primarily by PMETAL (-17.0 sen) and PCHEM (-21.0 sen), while Industrial Products (-0.93%) lagged the most. On the other hand, the Technology sector (+2.04%) outperformed, led by VITROX (+21.0 sen) and MPI (+134.0 sen) on strong global AI chip demand and local data center initiatives. Meanwhile, IPO debutant ENEST closed its first day at RM0.105, down from its initial IPO price of RM0.13.
Top 3 Active stocks:
TANCO (2429): RM0.315 (UNCH)
VS (6963): RM0.220 (+1.0 sen)
HHRG (0175): RM0.165 (+1.5 sen)
Top 3 Gainer stocks:
NESTLE (4707): RM92.00 (+150.0 sen)
MPI (3867): RM45.74 (+134.0 sen)
KLUANG (2453): RM6.45 (+35.0 sen)
Top 3 Loser stocks:
BKAWAN (1899): RM21.32 (-38.0 sen)
LPI (8621): RM15.00 (-38.0 sen)
PETGAS (6033): RM17.62 (-26.0 sen)
Volume: 4.08 bn (100-bar avg vol: 3.31 bn)
Value: RM2.84 bn (100-bar avg val: RM3.25 bn)
Market Breadth: ⬆️590 ⬇️475
Crude Palm Oil: RM4,573 (-RM19, -0.42%)
Dow Futures: 52,877 pts (+86 pts)
**Source: M+ Global, Bloomberg **
Good evening all,
Here is our update on EG's latest contract win.
Newsbreak
📌 EG Industries Berhad announced that its wholly-owned unit, Genetronic (Malaysia) Sdn Bhd, has entered into a Letter of Intent (LOI) with a US-based customer, Company M, for a deal worth approximately US$100.0m (RM407.0m). Under the collaboration, EG will manufacture and sell advanced networking switches utilizing next-generation Co-Packaged Optics (CPO) technology. The project is scheduled to progress over the mid-to-long term, with earnings contributions expected to flow into the group's FY27 and FY28 earnings.
M+ Global View
📌 We view this contract win positively, though it remains neutral on our immediate earnings forecasts as the US$100.0m win falls well within our original FY27 and FY28 core estimations. Coming closely on the heels of its massive RM949.0m contract win in May for 800G optical modules, this new deal firmly cements EG's position as a key beneficiary of the global AI data center boom and hyperscale cloud applications.
📌 Refining our earnings recognition timeline, we adjust the flow of the massive RM949.0m contract secured in May. Instead of full recognition in FY26, we only recognize 2 months of earnings (RM9.49m) in FY26, while the remaining 10 months (RM47.45m) shift into FY27. Combined with our baseline core earnings forecast of RM123.75m, this pushes our total FY27 net profit forecast to RM171.20m (up from the baseline of RM123.75m).
📌 Hence, our net profit forecasts are updated to RM110.94m (from RM158.4m) for FY26 and RM171.20m (from RM123.75m) for FY27 to reflect the updated schedule of the RM949.0m deal.
📌 Under a conservative earnings assumption of PAT at RM171.20m for FY27, we see the stock trading toward a TP range of RM2.56-RM2.74, supported by a PE range of 14x-15x.
📌 Meanwhile, in our previous report, we have assigned EG a higher P/E of 16.8x, the stock could potentially reach RM3.07.
Research Team, M+ Global
15 Jul 2026
Here is our update on EG's latest contract win.
Newsbreak
📌 EG Industries Berhad announced that its wholly-owned unit, Genetronic (Malaysia) Sdn Bhd, has entered into a Letter of Intent (LOI) with a US-based customer, Company M, for a deal worth approximately US$100.0m (RM407.0m). Under the collaboration, EG will manufacture and sell advanced networking switches utilizing next-generation Co-Packaged Optics (CPO) technology. The project is scheduled to progress over the mid-to-long term, with earnings contributions expected to flow into the group's FY27 and FY28 earnings.
M+ Global View
📌 We view this contract win positively, though it remains neutral on our immediate earnings forecasts as the US$100.0m win falls well within our original FY27 and FY28 core estimations. Coming closely on the heels of its massive RM949.0m contract win in May for 800G optical modules, this new deal firmly cements EG's position as a key beneficiary of the global AI data center boom and hyperscale cloud applications.
📌 Refining our earnings recognition timeline, we adjust the flow of the massive RM949.0m contract secured in May. Instead of full recognition in FY26, we only recognize 2 months of earnings (RM9.49m) in FY26, while the remaining 10 months (RM47.45m) shift into FY27. Combined with our baseline core earnings forecast of RM123.75m, this pushes our total FY27 net profit forecast to RM171.20m (up from the baseline of RM123.75m).
📌 Hence, our net profit forecasts are updated to RM110.94m (from RM158.4m) for FY26 and RM171.20m (from RM123.75m) for FY27 to reflect the updated schedule of the RM949.0m deal.
📌 Under a conservative earnings assumption of PAT at RM171.20m for FY27, we see the stock trading toward a TP range of RM2.56-RM2.74, supported by a PE range of 14x-15x.
📌 Meanwhile, in our previous report, we have assigned EG a higher P/E of 16.8x, the stock could potentially reach RM3.07.
Research Team, M+ Global
15 Jul 2026
🥰2
M+ Market Buzz - 16Jul26
Dow Jones: 52,658.64 pts (+150.37pts, +0.29%)
⬆️ Resistance: 54000
⬇️ Support: 51100
FBM KLCI: 1,713.76 pts (-6.18pts, -0.36%)
⬆️ Resistance: 1760
⬇️ Support: 1650
HSI Index: 24,681.10 pts (+340.37pts, +1.40%)
⬆️ Resistance: 25300
⬇️ Support: 23500
Crude Palm Oil: RM4,601 (-RM17, -0.37%)
⬆️ Resistance: 4730
⬇️ Support: 4410
Brent Oil: $84.95 (+$0.22, +0.26%)
⬆️ Resistance: 89.40
⬇️ Support: 73.80
Gold: $4,060.55 (-$1.71, -0.04%)
⬆️ Resistance: 4230
⬇️ Support: 3910
Source: Bloomberg, M+Global
Dow Jones: 52,658.64 pts (+150.37pts, +0.29%)
⬆️ Resistance: 54000
⬇️ Support: 51100
FBM KLCI: 1,713.76 pts (-6.18pts, -0.36%)
⬆️ Resistance: 1760
⬇️ Support: 1650
HSI Index: 24,681.10 pts (+340.37pts, +1.40%)
⬆️ Resistance: 25300
⬇️ Support: 23500
Crude Palm Oil: RM4,601 (-RM17, -0.37%)
⬆️ Resistance: 4730
⬇️ Support: 4410
Brent Oil: $84.95 (+$0.22, +0.26%)
⬆️ Resistance: 89.40
⬇️ Support: 73.80
Gold: $4,060.55 (-$1.71, -0.04%)
⬆️ Resistance: 4230
⬇️ Support: 3910
Source: Bloomberg, M+Global
👍2😁1
M+ Global Market Update – 16Jul26
AI Supply Chain in Focus Ahead of TSMC Earnings
US: Wall Street could maintain its constructive tone as moderating producer inflation reinforced the recent easing of price pressures, prompting investors to further pare expectations of Federal Reserve rate hikes and supporting broader risk appetite. Gains were underpinned by continued strength across the Magnificent Seven, highlighting resilient demand for quality growth names despite lingering geopolitical uncertainties. Attention now turns to TSMC's quarterly earnings later today, which are expected to provide the next key read-through on AI-driven semiconductor demand and capital expenditure. We favour NVIDIA (NVDA) and Broadcom (AVGO), as a constructive outlook from the world's largest contract chipmaker could reinforce confidence across the AI infrastructure and semiconductor value chain.
MY: The FBM KLCI is expected to trade firmer amid improving global risk sentiment, with technology counters likely to attract selective buying ahead of TSMC's earnings later today. We favour VITROX and DUFU, as both have successfully reclaimed their 10-day and 20-day SMAs, signalling improving near-term momentum. A constructive update from TSMC could reinforce this bullish technical setup and drive further accumulation in semiconductor-related names. Meanwhile, EG could see heightened trading opportunities after being awarded USD100m worth of contracts.
Stocks to watch:
Consumer: *99SMART*, *BAUTO*, *LWSABAH*, *ORIENT*, SPRITZER
Technology: *DNEX*, *MCLEAN*, PENTA, THMY
Solar: *PEKAT*
Construction: PWRWELL
**Source: M+ Global**
AI Supply Chain in Focus Ahead of TSMC Earnings
US: Wall Street could maintain its constructive tone as moderating producer inflation reinforced the recent easing of price pressures, prompting investors to further pare expectations of Federal Reserve rate hikes and supporting broader risk appetite. Gains were underpinned by continued strength across the Magnificent Seven, highlighting resilient demand for quality growth names despite lingering geopolitical uncertainties. Attention now turns to TSMC's quarterly earnings later today, which are expected to provide the next key read-through on AI-driven semiconductor demand and capital expenditure. We favour NVIDIA (NVDA) and Broadcom (AVGO), as a constructive outlook from the world's largest contract chipmaker could reinforce confidence across the AI infrastructure and semiconductor value chain.
MY: The FBM KLCI is expected to trade firmer amid improving global risk sentiment, with technology counters likely to attract selective buying ahead of TSMC's earnings later today. We favour VITROX and DUFU, as both have successfully reclaimed their 10-day and 20-day SMAs, signalling improving near-term momentum. A constructive update from TSMC could reinforce this bullish technical setup and drive further accumulation in semiconductor-related names. Meanwhile, EG could see heightened trading opportunities after being awarded USD100m worth of contracts.
Stocks to watch:
Consumer: *99SMART*, *BAUTO*, *LWSABAH*, *ORIENT*, SPRITZER
Technology: *DNEX*, *MCLEAN*, PENTA, THMY
Solar: *PEKAT*
Construction: PWRWELL
**Source: M+ Global**
M+ Global Market Wrap - 16Jul26
FBM KLCI: 1,722.19 pts (+8.43pts, +0.49%)
Despite renewed concerns over US-Iran tensions, the local bourse displayed resilience today, supported by the financial sector led by PBBANK (+15.0 sen) and MAYBANK (+8.0 sen). Market breadth was positive with 577 gainers outpacing 550 losers. Sector wise, Property (+1.12%) outperformed, led by IOIPG (+12.0 sen) and SIMEPROP (+2.0 sen), while Telecommunications (-0.50%) lagged the most.
Top 3 Active stocks:
TANCO (2429): RM0.320 (+0.5 sen)
NATGATE (0270): RM1.17 (+20.0 sen)
VS (6963): RM0.235 (+1.5 sen)
Top 3 Gainer stocks:
NESTLE (4707): RM93.00 (+100.0 sen)
UTDPLT (2089): RM35.00 (+30.0 sen)
CHB (0291): RM1.90 (+24.0 sen)
Top 3 Loser stocks:
MPI (3867): RM45.28 (-46.0 sen)
UMSINT (5340): RM8.03 (-28.0 sen)
HLIND (3301): RM18.42 (-18.0 sen)
Volume: 3.68 bn (100-bar avg vol: 3.33 bn)
Value: RM2.80 bn (100-bar avg val: RM3.25 bn)
Market Breadth: ⬆️572 ⬇️550
Crude Palm Oil: RM4,601 (+RM8, +0.17%)
Dow Futures: 52,887 pts (-13 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,722.19 pts (+8.43pts, +0.49%)
Despite renewed concerns over US-Iran tensions, the local bourse displayed resilience today, supported by the financial sector led by PBBANK (+15.0 sen) and MAYBANK (+8.0 sen). Market breadth was positive with 577 gainers outpacing 550 losers. Sector wise, Property (+1.12%) outperformed, led by IOIPG (+12.0 sen) and SIMEPROP (+2.0 sen), while Telecommunications (-0.50%) lagged the most.
Top 3 Active stocks:
TANCO (2429): RM0.320 (+0.5 sen)
NATGATE (0270): RM1.17 (+20.0 sen)
VS (6963): RM0.235 (+1.5 sen)
Top 3 Gainer stocks:
NESTLE (4707): RM93.00 (+100.0 sen)
UTDPLT (2089): RM35.00 (+30.0 sen)
CHB (0291): RM1.90 (+24.0 sen)
Top 3 Loser stocks:
MPI (3867): RM45.28 (-46.0 sen)
UMSINT (5340): RM8.03 (-28.0 sen)
HLIND (3301): RM18.42 (-18.0 sen)
Volume: 3.68 bn (100-bar avg vol: 3.33 bn)
Value: RM2.80 bn (100-bar avg val: RM3.25 bn)
Market Breadth: ⬆️572 ⬇️550
Crude Palm Oil: RM4,601 (+RM8, +0.17%)
Dow Futures: 52,887 pts (-13 pts)
**Source: M+ Global, Bloomberg **
M+ Market Buzz - 17Jul26
Dow Jones: 52,552.97 pts (-105.67pts, -0.20%)
⬆️ Resistance: 54000
⬇️ Support: 51100
FBM KLCI: 1,722.19 pts (+8.43pts, +0.49%)
⬆️ Resistance: 1770
⬇️ Support: 1650
HSI Index: 25,008.60 pts (+327.50pts, +1.33%)
⬆️ Resistance: 25800
⬇️ Support: 23500
Crude Palm Oil: RM4,606 (-RM16, -0.35%)
⬆️ Resistance: 4710
⬇️ Support: 4410
Brent Oil: $84.23 (-$0.72, -0.85%)
⬆️ Resistance: 89.40
⬇️ Support: 73.80
Gold: $3,976.50 (+$1.98, +0.05%)
⬆️ Resistance: 4220
⬇️ Support: 3890
Source: Bloomberg, M+Global
Dow Jones: 52,552.97 pts (-105.67pts, -0.20%)
⬆️ Resistance: 54000
⬇️ Support: 51100
FBM KLCI: 1,722.19 pts (+8.43pts, +0.49%)
⬆️ Resistance: 1770
⬇️ Support: 1650
HSI Index: 25,008.60 pts (+327.50pts, +1.33%)
⬆️ Resistance: 25800
⬇️ Support: 23500
Crude Palm Oil: RM4,606 (-RM16, -0.35%)
⬆️ Resistance: 4710
⬇️ Support: 4410
Brent Oil: $84.23 (-$0.72, -0.85%)
⬆️ Resistance: 89.40
⬇️ Support: 73.80
Gold: $3,976.50 (+$1.98, +0.05%)
⬆️ Resistance: 4220
⬇️ Support: 3890
Source: Bloomberg, M+Global
👍2
M+ Global Market Update – 17Jul26
LSS6 Spurs Renewables as Tech Sentiment Softens
US: Wall Street is expected to remain selective following a weaker closing as profit-taking emerged within semiconductor stocks despite TSMC's upbeat earnings and guidance. Nevertheless, easing inflationary pressures and a less hawkish Federal Reserve outlook should continue to support broader risk appetite, though with the tension escalating after the strike in the Middle East, we should expect the upside to be limited. We favour Netflix (NFLX) ahead of its quarterly earnings, with investors looking for continued momentum in advertising revenue, pricing power and user engagement, alongside GE Vernova (GEV), which remains well positioned to benefit from sustained investment in grid modernisation and power infrastructure to support AI-driven electricity demand.
MY: The FBM KLCI is expected to trade slightly softer in view of the overnight pullback in US semiconductor stocks, with immediate selling pressure concentrated in the local Technology sector. However, we anticipate that any downside risks could be cushioned by widespread optimism surrounding the official launch of the Large Scale Solar 6 (LSS6) programme. Moving forward, we expect tactical buying interest to rotate towards Renewable Energy and Energy Storage plays; counters such as SLVEST, SAMAIDEN, BMGREEN, and PEKAT are poised to emerge as primary beneficiaries given their established EPCC capabilities and strong exposure to utility-scale solar and BESS opportunities.
Stocks to watch:
Technology: D&O, FPGROUP, *GENETEC*
Utility: GASMSIA, *KJTS*, RANHILL
Consumer: *99SMART*, KOPI
Solar: PEKAT, *SAMAIDEN*
Property: *IOIPG*
Chemical: *TMK*
Construction: GAMUDA
**Source: M+ Global**
LSS6 Spurs Renewables as Tech Sentiment Softens
US: Wall Street is expected to remain selective following a weaker closing as profit-taking emerged within semiconductor stocks despite TSMC's upbeat earnings and guidance. Nevertheless, easing inflationary pressures and a less hawkish Federal Reserve outlook should continue to support broader risk appetite, though with the tension escalating after the strike in the Middle East, we should expect the upside to be limited. We favour Netflix (NFLX) ahead of its quarterly earnings, with investors looking for continued momentum in advertising revenue, pricing power and user engagement, alongside GE Vernova (GEV), which remains well positioned to benefit from sustained investment in grid modernisation and power infrastructure to support AI-driven electricity demand.
MY: The FBM KLCI is expected to trade slightly softer in view of the overnight pullback in US semiconductor stocks, with immediate selling pressure concentrated in the local Technology sector. However, we anticipate that any downside risks could be cushioned by widespread optimism surrounding the official launch of the Large Scale Solar 6 (LSS6) programme. Moving forward, we expect tactical buying interest to rotate towards Renewable Energy and Energy Storage plays; counters such as SLVEST, SAMAIDEN, BMGREEN, and PEKAT are poised to emerge as primary beneficiaries given their established EPCC capabilities and strong exposure to utility-scale solar and BESS opportunities.
Stocks to watch:
Technology: D&O, FPGROUP, *GENETEC*
Utility: GASMSIA, *KJTS*, RANHILL
Consumer: *99SMART*, KOPI
Solar: PEKAT, *SAMAIDEN*
Property: *IOIPG*
Chemical: *TMK*
Construction: GAMUDA
**Source: M+ Global**
👏2
M+ Global Market Wrap - 17Jul26
FBM KLCI: 1,731.45 pts (+9.26pts, +0.54%)
Despite escalating concerns over US-Iran conditions and a global tech sell-off, the local bourse traded on a positive tone with optimism over robust domestic economic data and foreign fund inflows into banking counters. Market breadth was negative with 691 losers outpacing 413 gainers. However, the FBM KLCI was largely propelled by an outperforming Financial Services (+1.11%) sector, led by MAYBANK (+16.0 sen) and CIMB (+12.0 sen), while Technology (-2.86%) lagged the most.
Top 3 Active stocks:
TANCO (2429): RM0.335 (+1.5 sen)
NATGATE (0270): RM1.09 (-8.0 sen)
VS (6963): RM0.230 (-0.5 sen)
Top 3 Gainer stocks:
NESTLE (4707): RM93.50 (+50.0 sen)
HLBANK (5819): RM22.44 (+42.0 sen)
HLIND (3301): RM18.64 (+22.0 sen)
Top 3 Loser stocks:
MPI (3867): RM43.20 (-208.0 sen)
UTDPLT (2089): RM34.60 (-40.0 sen)
VITROX (0097): RM7.28 (-38.0 sen)
Volume: 3.45 bn (100-bar avg vol: 3.34 bn)
Value: RM3.05 bn (100-bar avg val: RM3.25 bn)
Market Breadth: ⬆️413 ⬇️691
Crude Palm Oil: RM4,606 (-RM12, -0.26%)
Dow Futures: 52,395 pts (-391 pts)
**Source: M+ Global, Bloomberg **
FBM KLCI: 1,731.45 pts (+9.26pts, +0.54%)
Despite escalating concerns over US-Iran conditions and a global tech sell-off, the local bourse traded on a positive tone with optimism over robust domestic economic data and foreign fund inflows into banking counters. Market breadth was negative with 691 losers outpacing 413 gainers. However, the FBM KLCI was largely propelled by an outperforming Financial Services (+1.11%) sector, led by MAYBANK (+16.0 sen) and CIMB (+12.0 sen), while Technology (-2.86%) lagged the most.
Top 3 Active stocks:
TANCO (2429): RM0.335 (+1.5 sen)
NATGATE (0270): RM1.09 (-8.0 sen)
VS (6963): RM0.230 (-0.5 sen)
Top 3 Gainer stocks:
NESTLE (4707): RM93.50 (+50.0 sen)
HLBANK (5819): RM22.44 (+42.0 sen)
HLIND (3301): RM18.64 (+22.0 sen)
Top 3 Loser stocks:
MPI (3867): RM43.20 (-208.0 sen)
UTDPLT (2089): RM34.60 (-40.0 sen)
VITROX (0097): RM7.28 (-38.0 sen)
Volume: 3.45 bn (100-bar avg vol: 3.34 bn)
Value: RM3.05 bn (100-bar avg val: RM3.25 bn)
Market Breadth: ⬆️413 ⬇️691
Crude Palm Oil: RM4,606 (-RM12, -0.26%)
Dow Futures: 52,395 pts (-391 pts)
**Source: M+ Global, Bloomberg **
M+ Global Market Update – 20Jul26
Oil Price Surged As US-Iran Conflict Intensified
US: In view of the intensifying US–Iran conflict with heavy drone and missile strikes, we expect Wall Street to kickstart the week in a risk-off mode. However, we believe the spike in crude oil prices should bode well for energy-related counters, including ExxonMobil (XOM) and Cheniere Energy (LNG). Meanwhile, despite the broader sell-down on the Nasdaq, we continue to favour NetApp (NTAP) following its four-year enterprise agreement with Google, whereby Google will embed NTAP's data storage platforms into Google Distributed Cloud air-gapped environments, while Google’s temporary delay in the rollout of Gemini 3.5 Pro may act as a buy-on-the-dip opportunity for Alphabet (GOOGL), which has fallen to its EMA120.
MY: Tracking Wall Street’s negative closing last Friday, we expect the FBM KLCI to kickstart the week on a softer note, particularly in the Technology sector. Nevertheless, we continue to favour solar stocks following the launch of LSS6, which is expected to benefit companies such as SLVEST, PEKAT, and SAMAIDEN. Meanwhile, with the increase in Brent crude toward USD88 per barrel, sentiment is expected to bode well for chemical companies, including PCHEM and TMK. Lastly, as PM Anwar recently mentioned that the government is considering higher STR and SARA aids, we believe buying interest will be sustained for 99SMART.
Stocks to watch:
Consumer: *99SMART*, ECOSHOP, *KOPI*
Construction: *GAMUDA*, UUE
Utility: GASMSIA, *KJTS*
Chemical: *PCHEM*
Solar: *PEKAT*
Technology: *LGMS*
Building Material: MCEMENT
**Source: M+ Global**
Oil Price Surged As US-Iran Conflict Intensified
US: In view of the intensifying US–Iran conflict with heavy drone and missile strikes, we expect Wall Street to kickstart the week in a risk-off mode. However, we believe the spike in crude oil prices should bode well for energy-related counters, including ExxonMobil (XOM) and Cheniere Energy (LNG). Meanwhile, despite the broader sell-down on the Nasdaq, we continue to favour NetApp (NTAP) following its four-year enterprise agreement with Google, whereby Google will embed NTAP's data storage platforms into Google Distributed Cloud air-gapped environments, while Google’s temporary delay in the rollout of Gemini 3.5 Pro may act as a buy-on-the-dip opportunity for Alphabet (GOOGL), which has fallen to its EMA120.
MY: Tracking Wall Street’s negative closing last Friday, we expect the FBM KLCI to kickstart the week on a softer note, particularly in the Technology sector. Nevertheless, we continue to favour solar stocks following the launch of LSS6, which is expected to benefit companies such as SLVEST, PEKAT, and SAMAIDEN. Meanwhile, with the increase in Brent crude toward USD88 per barrel, sentiment is expected to bode well for chemical companies, including PCHEM and TMK. Lastly, as PM Anwar recently mentioned that the government is considering higher STR and SARA aids, we believe buying interest will be sustained for 99SMART.
Stocks to watch:
Consumer: *99SMART*, ECOSHOP, *KOPI*
Construction: *GAMUDA*, UUE
Utility: GASMSIA, *KJTS*
Chemical: *PCHEM*
Solar: *PEKAT*
Technology: *LGMS*
Building Material: MCEMENT
**Source: M+ Global**
M+ Market Buzz - 20Jul26
Dow Jones: 52,146.42 pts (-406.55pts, -0.77%)
⬆️ Resistance: 54000
⬇️ Support: 51000
FBM KLCI: 1,731.45 pts (+9.26pts, +0.54%)
⬆️ Resistance: 1780
⬇️ Support: 1660
HSI Index: 24,562.24 pts (-446.36pts, -1.78%)
⬆️ Resistance: 25800
⬇️ Support: 23500
Crude Palm Oil: RM4,597 (-RM9, -0.20%)
⬆️ Resistance: 4710
⬇️ Support: 4430
Brent Oil: $88.10 (+$2.69, +3.05%)
⬆️ Resistance: 90.20
⬇️ Support: 75.80
Gold: $4,017.39 (-$29.83, -0.74%)
⬆️ Resistance: 4190
⬇️ Support: 3890
Source: Bloomberg, M+Global
Dow Jones: 52,146.42 pts (-406.55pts, -0.77%)
⬆️ Resistance: 54000
⬇️ Support: 51000
FBM KLCI: 1,731.45 pts (+9.26pts, +0.54%)
⬆️ Resistance: 1780
⬇️ Support: 1660
HSI Index: 24,562.24 pts (-446.36pts, -1.78%)
⬆️ Resistance: 25800
⬇️ Support: 23500
Crude Palm Oil: RM4,597 (-RM9, -0.20%)
⬆️ Resistance: 4710
⬇️ Support: 4430
Brent Oil: $88.10 (+$2.69, +3.05%)
⬆️ Resistance: 90.20
⬇️ Support: 75.80
Gold: $4,017.39 (-$29.83, -0.74%)
⬆️ Resistance: 4190
⬇️ Support: 3890
Source: Bloomberg, M+Global