Sime Darby, 99 Speed Mart, UOA Development, CTOS Digital, Supermax, MSM Malaysia, Bintulu Port, RCE Capital, Kawan Food, Innoprise Plantations, Master Tec, HeiTech Padu, Nestcon
https://theedgemalaysia.com/node/745676

Bursa Malaysia Midday Recap: Red Tide Sweeps Local Bourse

The FBM KLCI opened lower following the US President’s decision to move forward with tariffs on Canada and Mexico. Losses in CIMB and TENAGA further dragged the index. Market sentiment remained weak, with all indices trading in the red. Technology emerged as the main laggard, extending its 11-day losing streak, while healthcare was weighed down by glove stocks. Looking ahead, corporate earnings will be the key focus for local investors this week.

Despite the market weakness, trading opportunities may arise in GENETEC (Estimated Resistance: MYR1.49; Stop Loss: MYR1.16), VELESTO (Estimated Resistance: MYR0.225; Stop Loss: MYR0.165), and JPG (Estimated Resistance: MYR1.47; Stop Loss: MYR1.15), as highlighted in today’s Traders’ Almanac. For the full report, stock ideas and market flows, access Discover Tab on Maybank Trade MY app.

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#Middayrecap

M+ Market Wrap - 25Feb25

FBM KLCI: 1,568.03 pts (-16.22pts, -1.02%)
The FBMKLCI (-1.02%) closed lower after losses in Banking and Utilities heavyweights dampened sentiment locally, while global peers also declined due to fears of a return of President Trump’s trade war and curbs on Chinese products. Market breadth was negative with losers outpacing gainers by 901-to-217 stocks. On the broader market, the Transportation & Logistics (+0.79%) sector outperformed, led by gains in MISC (-6.0 sen) and HEXTECH (+8.0 sen), while the rest ended in the red.

Top 3 Active stocks:
TWL (7079): RM0.025 (+0.5 sen)
INGENIEU (5178): RM0.045 (-0.5 sen)
MYEG (0138): RM0.975 (-3.5 sen)

Volume: 3.14 bn (100-bar avg vol: 2.92 bn)
Value: RM2.65 bn (100-bar avg val: RM2.54 bn)
Market Breadth: ⬆️217 ⬇️901
Crude palm oil: RM4,564 (+RM5)
Dow Futures: 43,533 pts (-2 pts)

**Source: Bloomberg, M+**

26-February-2025

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M+ Morning Market Buzz - 26Feb25

Dow Jones: 43,621.16 pts (+159.95pts, +0.37%)
⬆️ Resistance: 45600
⬇️ Support: 42500

FBM KLCI: 1,568.03 pts (-16.22pts, -1.02%)
⬆️ Resistance: 1630
⬇️ Support: 1540

HSI Index: 23,034.02 pts (-307.59pts, -1.32%)
⬆️ Resistance: 24200
⬇️ Support: 22000

Crude Palm Oil: RM4,565 (+RM5, +0.11%)
⬆️ Resistance: 4820
⬇️ Support: 4420

Brent Oil: $74.78 (-$1.56, -2.10%)
⬆️ Resistance: 78.70
⬇️ Support: 71.30

Gold: $2,914.98 (-$0.22, -0.01%)
⬆️ Resistance: 3020
⬇️ Support: 2840

Source: Bloomberg, M+

M+ Market Update – 26Feb25
Awaiting Nvidia’s Results

The local bourse closed lower as losses in Banking and Utilities heavyweights dampened the sentiment locally. Wall Street ended mostly lower after weaker consumer confidence, following a weakening Services PMI and Walmart's conservative outlook. We believe the decline in confidence stems from elevated inflation, worsened by Trump’s tariffs threats on trading partners, suggesting a slower easing cycle ahead. In the commodities market, Brent Crude lost nearly 2.5% on fears of slower energy demand and an elevated stockpile outlook. Meanwhile, gold retreated below USD2,920, while CPO traded around RM4,570.

Sector Focus: Despite the weaker trading sentiment, we see opportunities to accumulate ITMAX after the company reported robust earnings in the latest quarter. Also, its development in Johor and new ventures in Penang should bode well for long term growth. Meanwhile, we believe Frontken’s record quarterly earnings may provide stability towards the Technology sector, after the recent selloff following the Deepseek incident in late 2024. Similarly, we expect positive opportunities in the Consumer and Renewable Energy segments following stronger earnings from Leong Hup and Pekat.

Stocks to watch:

Technology: HTPADU, *ITMAX*
Utility: *PEKAT*, *SCGBHD*
Construction: *SUNCON*
Chemical: *TMK*
Consumer: KOPI
REIT: PAVREIT
Property: EXSIMHB

Source: M+

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M+ Market Wrap - 26Feb25

FBM KLCI: 1,588.71 pts (+20.68pts, +1.32%)
The FBMKLCI (+1.32%) rebounded as gains in Banking heavyweights boosted sentiment locally. This uptick in buying interest was driven by Maybank's (+24.0 sen) strong earnings report, which showed higher net interest income and insurance earnings, likely fueling further support for the sector. Market breadth was positive with gainers outpacing losers by 534-to-471 stocks. On the broader market, Financial (+1.73%) outperformed mostly led by Banking heavyweights, while Construction (-0.33%) declined the most.

Top 3 Active stocks:
INGENIEU (5178): RM0.040 (-0.5 sen)
SFPTECH (0251): RM0.320 (-2.5 sen)
MYEG (0138): RM0.955 (-2.5 sen)

Volume: 2.82 bn (100-bar avg vol: 2.92 bn)
Value: RM2.48 bn (100-bar avg val: RM2.54 bn)
Market Breadth: ⬆️534 ⬇️471
Crude palm oil: RM4,568 (+RM3)
Dow Futures: 43,791 pts (+101 pts)

**Source: Bloomberg, M+**

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M+ Morning Market Buzz - 27Feb25

Dow Jones: 43,433.12 pts (-188.04pts, -0.43%)
⬆️ Resistance: 45500
⬇️ Support: 42500

FBM KLCI: 1,588.71 pts (+20.68pts, +1.32%)
⬆️ Resistance: 1630
⬇️ Support: 1540

HSI Index: 23,787.93 pts (+753.91pts, +3.27%)
⬆️ Resistance: 24500
⬇️ Support: 22000

Crude Palm Oil: RM4,611 (-RM45, -0.98%)
⬆️ Resistance: 4820
⬇️ Support: 4440

Brent Oil: $73.02 (-$0.28, -0.38%)
⬆️ Resistance: 78.70
⬇️ Support: 71.00

Gold: $2,914.98 (+$1.44, +0.05%)
⬆️ Resistance: 3020
⬇️ Support: 2840

Source: Bloomberg, M+

M+ Market Update – 27Feb25
Nvidia’s Earnings Exceeded Expectations

The local bourse closed higher as gains in banking heavyweights lifted sentiment locally, driven by strong banking earnings supported by higher net interest margin and steady loan growth. However, Wall Street remained within a tight range ahead of Nvidia's earnings report. Although Nvidia’s results came in above expectations, the post-market trading is volatile, fluctuating between the positive and negative territory. Thus, we believe positive sentiment surrounding the AI theme could be limited. In the commodities market, Brent Crude retreated further towards USD74 on ongoing fears of weakening demand. Meanwhile, Gold traded flat at USD2,916 while CPO closed lower towards RM4,566.

Sector Focus: While sentiment may be subdued, we expect the oversold conditions, coupled with Nvidia’s earnings beat, to support a rebound to the Technology sector locally with ITMAX looking favourable due to its recent earnings. Meanwhile, we believe SUNWAY’s record high revenue in FY24 could spur bargain hunting in the Property and Construction sector, as well as among companies linked to the data center supply chain and the JSSEZ action plan. For conservative traders, we believe Banking and REITs will remain in focus, given their steady earnings growth and dividend yield appeal.

Stocks to watch:

Utility: *PEKAT*, SCGBHD, SLVEST
Financial: *MAYBANK*, OSK
Healthcare: *KPJ*
Logistics: *WPRTS*
Consumer: *LHI*
Technology: ITMAX
REIT: IGBREIT

Source: M+

27-February-2025

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*Trading Stocks today:*
 
For *Trendspotter*, please click on this link: <https://tinyurl.com/2rk2p2pt > to view the report.
 
Or please logon to your account on http://www.cgsi.com.my/and click on <Research> Tab.
 
*Malaysia*:
*BM GreenTech (0168)* (RM1.85): Technical Buy
Targets: RM1.93, RM2.00, RM2.12
Stop: RM1.67
 
*Bina Puri Holdings (5932)* (RM0.34): Technical Buy
Targets: RM0.365, RM0.38
Stop: RM0.315
 
 
*Fundamental Report(s):*
 
*Econpile Holdings Bhd* - A slower recovery in earnings (Maintain Add with a lower TP of RM0.46) https://tinyurl.com/2e35vd67
 
*HSS Engineers* - Strong 4Q driven by Baghdad metro; key is first milestone payment (Maintain Add with a higher TP of RM1.50) https://tinyurl.com/yae49ah2
 
*Public Bank Bhd* - Maiden contribution from LPI Capital (Maintain Add with a higher TP of RM5.81) https://tinyurl.com/3cncr43b
 
*Sunway Bhd* - Strong 4Q24; all eyes still on SHG’s IPO (Maintain Add with a higher TP of RM5.80) https://tinyurl.com/jcnzr6tu
 
*Affin Bank Berhad* - Expecting LLP to normalise in FY25F (Maintain Reduce with a TP of RM2.76) https://tinyurl.com/259m5vu7
 
*Axiata Group* - 4Q24: operations improved; CNP a miss (Maintain Add with a TP of RM3.67) https://tinyurl.com/yu6bxtbe
 
*Hibiscus Petroleum Bhd* - Positive operating outlook for 2HFY25F (Maintain Add with a TP of RM2.81)https://tinyurl.com/2hh9ps9j
 
*Nestle (Malaysia)* - Light at the end of the tunnel? (Maintain Reduce with a TP of RM78.00) https://tinyurl.com/mxp8hx4k
 
*Sime Darby Property Berhad* - FY24 earnings in line with expectations (Maintain Add with a TP of RM1.94)https://tinyurl.com/4ec5tyj3
 
 
Join CGS International Securities Malaysia's Official TelegramChannel https://t.me/cgsi_my
 
*27th Feb 2025*
 
Disclaimers: This distribution is by CGS International Securities Malaysia Sdn. Bhd. (“CGS MY”) in Malaysia only. The views are our own as of this date and subject to change. No further distribution is allowed without our prior written consent. CGS MY, its related corporations, affiliates and business partners make no recommendation, offer or invitation to transact in any securities, futures contracts or other instruments. Please make your independent evaluation, consider your own investment objectives and financial situation and consult your own professional advisers before participating in any transaction.

*Corporate news*
 
Armani Group and *Bank Islam Malaysia Bhd* have signed a MOU on 25 Feb to offer homebuyers of Armani's developments end-financing, starting with the Residensi Armani Kg Baru 1 project in Kuala Lumpur. (The Edge Malaysia)
 
Selangor will sign a MOU with Khazanah Nasional Bhd and *Malaysia Airports Holdings Bhd* or MAHB for the development of the Selangor Aero Park. (The Edge Malaysia)
 
*Axis REIT* is selling a warehouse property in Petaling Jaya, called The Annex, for RM24.2m. Axis REIT's trustee, RHB Trustees Bhd, entered into a sale and purchase agreement to sell the property to Basic Eight (M) Sdn Bhd. The disposal is expected to generate a net gain of RM9m, which Axis REIT plans to fully distribute the sum. This will translate into an additional income distribution of 0.44 sen per unit, according to the industrial property-focused trust’s statement. (The Edge Malaysia)
 
*Axiata Group Bhd* said it is in talks with a potential new shareholder for its financial technology (fintech) arm Boost Holdings Sdn Bhd. The deal is still pending regulatory approval, and Axiata is not able to disclose the name of the new investor, group CEO and MD Vivek Sood said at an earnings briefing on Wednesday. (The Edge Malaysia)
 
*Malayan Banking Bhd* said the removal of CFO Khalijah Ismail had to be announced immediately due to the market-sensitive nature of the information. Without providing any new details on the move, Maybank president and group CEODatuk Khairussaleh Ramli reiterated on Wednesday that Khalijah left following an inquiry over non-compliance with internal requirements and processes. (The Edge Malaysia)
 
*Mah Sing Group Bhd* has completed the construction of M Arisa residential project in Sentul. According to the developer in a statement on Wednesday, M Arisa is its first completed project for the year and has achieved a Quality Assessment System in Construction (QLASSIC) score of 84% and a five-star rating for the Safety and Health Assessment in Construction (SHASSIC). (The Edge Malaysia)
 
*Hong Leong Bank Bhd* is confident that the introduction of artificial intelligence (AI) will further contain operational costs, guiding that its cost-income ratio (CIR) will come in lower than initial expectations. (The Edge Malaysia)
 
*Eco World Development Group Bhd* is looking to grow its recurring income base from around 20% to 30% of its total revenue for the next three to five years, said its executive director, president and CEO Datuk Chang Khim Wah. (The Edge Malaysia)
 
Australia-based property developer Exal Group, through its subsidiary Exal Malaysia Sdn Bhd, has signed a MOU with *Solarvest Holdings Bhd* to install a rooftop solar photovoltaic (PV) system and electric vehicle (EV) charging infrastructure at its SÓL Estate development and future property development projects, and GreenRE Sdn Bhd, a green building certification body, to leverage GreenRE’s expertise to get its properties green-certified. (The Edge Malaysia)
 
*Sapura Energy Bhd* has secured multiple contracts with a combined value of approximately RM3.2bn, including optional periods granted in some contracts. The contracts, awarded to its drilling arm Sapura Drilling, span across key clients and regions, according to the group’s media release on Wednesday. Among the new wins, Sapura Drilling secured two contracts from PTTEP Energy Development Ltd for the deployment of its tender assist drilling rigs (TADR) Sapura T-17 and Sapura T-18. (The Edge Malaysia)
 
Despite lower revenue, *Kelington Group Bhd*’s net profit in the fourth quarter grew 3.9% y-o-y, thanks to a more favourable project mix. “Kelington is leveraging the semiconductor industry’s upcycle by shifting its focus from general contracting to ultra-high purity (UHP) projects, which although smaller in contract size, yield higher profitability,” Kelington said. (The Edge Malaysia)
 
*FGV Holdings Bhd* expects its oleochemical segment to see improved sales volume this year as raw material costs stabilise, said group CEO Fakhrunniam Othman. (The Edge Malaysia)