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M+ Morning Market Buzz - 13Jun25 Dow Jones: 42,967.62 pts (+101.85pts, +0.24%) ⬆ Resistance: 44000 ⬇ Support: 41800 FBM KLCI: 1,526.62 pts (+2.78pts, +0.18%) ⬆ Resistance: 1570 ⬇ Support: 1490 HSI Index: 24,035.38 pts (-331.56pts, -1.36%) ⬆ Resistance: 25000 ⬇ Support: 23300 Crude Palm Oil: RM3,839 (+RM10, +0.26%) ⬆ Resistance: 4040 ⬇ Support: 3740 Brent Oil: $69.36 (+$3.96, +5.71%) ⬆ Resistance: 72.30 ⬇ Support: 63.60 Gold: $3,385.92 (+$25.00, +0.74%) ⬆ Resistance: 3470 ⬇ Support: 3230 Source: Bloomberg, M+

M+ Market Update – 13Jun25 Market Expected To Trade Higher US: With recent progress toward the de-escalation of US-China trade tensions, risk appetite improved as Wall Street edged higher, while bond yields declined following slower-than-anticipated PPI data. Despite the ongoing positive developments in the trade talks, we believe the market may adopt a wait-and-see approach, focusing on the 90-day tariff pause and the Fed’s next move. Thus, we expect the US equities to trade within a range in the near term. In the commodities market, both Brent Crude and Gold traded relatively higher at USD69/bbl and USD3,384 while CPO prices ended flat along RM3,849/MT. MY: Tracking Wall Street’s upbeat overnight performance, the KLCI could trade on a positive tone. We expect the overall positive developments within the US-China traded discussion to support the buying interest within the Technology sector, with key focus on selected upward trending companies such as KGB, VITROX and FRONTKN. Meanwhile, we opine the overall NETR initiatives and green energy efforts will provide a boost to the solar-related industry, especially in rooftop solar panel installations over the coming years. For a defensive play, we favour SUNREIT given its quality asset portfolio as well as its stable DPU growth. Stocks to watch: Technology: *FRONTKN*, KGB, *VITROX* Consumer: KOPI, *MFLOUR* Property: *CRESNDO* Logistics: *WPRTS* Finance: *RHBBANK* Utility: SLVEST Plantation: INNO Source: M+

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M+ Market Update – 12Jun25 Investors May Focus On O&G Amid Oil Price Surge US: Wall Street closed lower following core CPI data and as investors awaited further details on US-China developments. Inflation was slower than expected, suggesting corporations may be relying on existing inventories and slowly adjusting prices for now. While trade talks are expected to yield favourable outcomes, the market remain cautious, awaiting the 90-day tariff pause and monitoring inflation and jobs data to gauge the Fed’s next move. We believe US equities will trade range-bound in the near term. In the commodities market, Brent oil and Gold prices breakout towards USD69/bbl and USD3,365/oz respectively, while CPO prices retreated to RM3,841/MT. MY: Mirroring Wall Street’s negative performance, the KLCI may trade on a softer tone. However, we remain positive on the Construction sector, especially SUNCON, following its recent RM1.16bn project win, which boost its outstanding order book at ~RM7.90bn (a cover ratio of >2x FY24 revenue). Traders may also focus on the O&G sector amid rising crude oil price due to escalating geopolitical tension between US-Iran. Aside from healthy dividend payouts, we favour SUNREITs for its active asset acquisition activities and defensive characteristics in weathering economic uncertainties. Stocks to watch: Utility: GASMSIA, *MNHLDG*, SCGBHD Construction: *INTA*, SUNCON Technology: *KGB*, *NE* Solar: *PEKAT* O&G: *DAYANG* Finance: OSK Source: M+

M+ Morning Market Buzz - 12Jun25 Dow Jones: 42,865.77 pts (-1.10pts, -0.00%) ⬆️ Resistance: 44000 ⬇️ Support: 41400 FBM KLCI: 1,523.84 pts (+6.89pts, +0.45%) ⬆️ Resistance: 1570 ⬇️ Support: 1480 HSI Index: 24,366.94 pts (+204.07pts, +0.84%) ⬆️ Resistance: 25000 ⬇️ Support: 23300 Crude Palm Oil: RM3,839 (+RM2, +0.05%) ⬆️ Resistance: 4040 ⬇️ Support: 3740 Brent Oil: $69.77 (+$2.90, +4.34%) ⬆️ Resistance: 72.30 ⬇️ Support: 63.40 Gold: $3,355.12 (+$11.33, +0.15%) ⬆️ Resistance: 3480 ⬇️ Support: 3230 Source: Bloomberg, M+

M+ Market Update – 10Jun25 All Eyes On The US-China Trade Discussions US: Wall Street is expected to focus on the US-China trade talks, which have driven modest gains in equities as officials hinted at progress ahead of Tuesday’s resumed negotiations. Key focus would be on resolving issues related to chip and rare materials exports, coupled with the recent potential overhaul in CHIPS act, which may serve as a key catalyst for major chip players like Nvidia and AMD. This week, traders will closely monitor US inflation to understand the impact of Trump’s trade policies. In the commodities market, Brent crude broke out above its EMA60 at USD67/bbl. Gold and CPO traded flat along USD3,324 and RM3,919, respectively. MY: Given the Wall Street’s mixed performance, we expect the local bourse to trade with a softer tone. Attention may shift to fundamentally strong companies as investors seek buying opportunities. We favour INTA, supported by its strong ties to major developers like GAMUDA. Meanwhile, as the market factors a rate-cut environment, REITs could attract interest due to their healthy yields of over ~4%. We believe SUNREIT presents a decent opportunity, in view of the recent breakout and its uptrend intact share price movements. Stocks to watch: Utility: BMGREEN, *GASMSIA*, *SCGBHD* Finance: ABMB, *AMBANK* Construction: INTA, *SUNCON* Consumer: *KOPI*, LHI REIT: SUNREIT Source: M+

M+ Morning Market Buzz - 10Jun25 Dow Jones: 42,761.76 pts (-1.11pts, -0.00%) ⬆️ Resistance: 43800 ⬇️ Support: 41400 FBM KLCI: 1,519.41 pts (+2.62pts, +0.17%) ⬆️ Resistance: 1560 ⬇️ Support: 1470 HSI Index: 24,181.43 pts (+388.89pts, +1.63%) ⬆️ Resistance: 24700 ⬇️ Support: 22900 Crude Palm Oil: RM3,925 (-RM6, -0.15%) ⬆️ Resistance: 4060 ⬇️ Support: 3810 Brent Oil: $67.04 (+$0.57, +0.86%) ⬆️ Resistance: 68.60 ⬇️ Support: 63.00 Gold: $3,326.19 (-$2.84, -0.09%) ⬆️ Resistance: 3480 ⬇️ Support: 3230 Source: Bloomberg, M+

M+ Market Update – 09Jun25 Market Poised For A Positive Session US: Wall Street gained momentum last week as stronger-than-expected US jobs data offset concerns over slower economic growth. Meanwhile, with the US-China talks expected in London, the market may extend its positive tone. On a side note, the strained Trump-Elon relationship could dampen near term sentiment on Tesla, but the anticipation of the Trump administration’s overhaul of the CHIPS Act may serve as a catalyst for major players like NVIDIA and AMD. In the commodities market, Brent Crude rebounded near USD66/bbl, while both Gold and CPO retreated to USD3,316/oz and RM3,917/MT, respectively. MY: With the KLCI rebounded from 1,500 last week and undemanding valuations at ~14x (Long term average: 17x), the local bourse is poised to open higher, tracking Wall Street’s gains. Meanwhile, (i) rising power demand from data centres, (ii) government initiatives like NETR and (iii) TNB’s CapEx expansion could boost MNHLDG and KJTS. We remain positive on REITs, supported SUNREIT’s breakout and the sector’s healthy yields of over ~4%. Lastly, we favour construction players such as INTA, given its strong ties to major developers like Gamuda, backed active land banking. Stocks to watch: Construction: *INTA*, KERJAYA, SUNCON REIT: *IGBREIT*, SUNREIT Plantation: *INNO* Utility: *SCGBHD* Property: CRESNDO Logistics: *WPRTS* Source: M+

M+ Morning Market Buzz - 9Jun25 Dow Jones: 42,762.87 pts (+443.13pts, +1.05%) ⬆️ Resistance: 43800 ⬇️ Support: 41100 FBM KLCI: 1,516.79 pts (-1.33pts, -0.09%) ⬆️ Resistance: 1560 ⬇️ Support: 1470 HSI Index: 23,792.54 pts (-114.43pts, -0.48%) ⬆️ Resistance: 24500 ⬇️ Support: 22300 Crude Palm Oil: RM3,917 (+RM14, +0.36%) ⬆️ Resistance: 4060 ⬇️ Support: 3810 Brent Oil: $66.47 (+$1.13, +1.73%) ⬆️ Resistance: 68.10 ⬇️ Support: 61.80 Gold: $3,310.42 (-$42.23, -1.26%) ⬆️ Resistance: 3480 ⬇️ Support: 3230 Source: Bloomberg, M+

M+ Market Update – 03Jun25 Trade Tensions Spur Defensive Positioning US: Semiconductor-related stocks maintained its momentum, led by chipmaker Nvidia Corp, which rallied over 1.5%. CoreWeave and Applied Digital surged 8% and 48.5%, respectively after Applied Digital announced a 250MW AI data center lease with CoreWeave. Meanwhile, US steel and aluminium shares surged after President Trump’s additional 25% tariff hike on steel and aluminium imports, which we believe will put more pressure on the Greenback. In the commodities market, Brent Crude rebounded to USD65/bbl, while Gold surged towards USD3,389/oz. CPO prices retreated towards RM3,878/MT. MY: While last week saw moderate progress in de-escalating trade tensions, President Trump’s additional 25% tariff hike on steel and aluminium imports has reignited uncertainty. Given prolonged trade tensions, we see expect investors to adopt a defensive stance, favouring Consumer heavyweights like ECOSHOP and 99SMART, which have built self-reinforcing moat through convenience and competitive pricing. Also, with major developers pursuing land banking, we believe INTA stands to benefit significantly due to its high exposure to firms like Gamuda, Sime Darby and many more. Stocks to watch: O&G: *DELEUM*, GASMSIA Construction: CHB, *KERJAYA* REIT: *IGBREIT*, SUNREIT Technology: *ADB*, SCICOM Utility: *PWRWELL* Finance: CIMB Shipping and Logistics: WPRTS Source: M+

M+ Morning Market Buzz - 3Jun25 Dow Jones: 42,305.48 pts (+35.41pts, +0.08%) ⬆️ Resistance: 43300 ⬇️ Support: 41000 FBM KLCI: 1,508.35 pts (-10.63pts, -0.70%) ⬆️ Resistance: 1570 ⬇️ Support: 1480 HSI Index: 23,157.97 pts (-131.80pts, -0.57%) ⬆️ Resistance: 24100 ⬇️ Support: 22300 Crude Palm Oil: RM3,878 (-RM54, -1.37%) ⬆️ Resistance: 4050 ⬇️ Support: 3730 Brent Oil: $62.78 (+$2.29, +3.65%) ⬆️ Resistance: 67.50 ⬇️ Support: 61.80 Gold: $3,381.59 (+$0.02, +0.00%) ⬆️ Resistance: 3460 ⬇️ Support: 3190 Source: Bloomberg, M+

M+ Market Update – 30May25 Federal Court’s Decision Rekindles Trade Fears US: Wall Street advanced after Nvidia announced stronger-than-expected Q1 earnings, with an EPS of USD0.96, surpassing forecasts of USD0.93. While this helped offset fresh uncertainty stemming from a US Court of International Trade ruling that President Trump exceeded his authority in imposing sweeping tariffs on major US trading partners, the US Court of Appeals in Washington temporarily blocked the lower court’s decision on Thursday. At the time of writing, Wall Street futures turned negative. In the commodities market, Brent oil trended lower at USD64, while gold traded sideways around USD3300 range. CPO prices traded higher above RM3,900/MT. MY: According to MITI, ASEAN could generate an additional USD300bn in green revenues and unlock up to USD1.5tn in value by 2030 through green investments and regional collaboration in power grids, carbon markets and clean energy incentives. With rising adoption of green energy and stronger cross-border efforts, we believe local solar players stand to benefit. Despite the construction sector’s steep selloff, we view this as temporary profit taking, as the sector remains supported by data centre investments and major infrastructure developments, particularly Johor and Sarawak. Lastly, we initiated coverage on Inta Bina (M+ Fair Value: RM0.74). Stocks to watch: O&G: *DAYANG*, DELEUM Consumer: *FFB*, L&PBHD Utility: *KJTS*, *PWRWELL* Building Material: *SCGBHD* Construction: KERJAYA Technology: WENTEL Telco: TIMECOM REIT: SUNREIT Source: M+

M+ Morning Market Buzz - 30May25 Dow Jones: 42,215.73 pts (+117.03pts, +0.28%) ⬆️ Resistance: 43300 ⬇️ Support: 40600 FBM KLCI: 1,518.98 pts (-4.50pts, -0.30%) ⬆️ Resistance: 1570 ⬇️ Support: 1490 HSI Index: 23,573.38 pts (+315.07pts, +1.35%) ⬆️ Resistance: 24300 ⬇️ Support: 22800 Crude Palm Oil: RM3,932 (-RM29, -0.74%) ⬆️ Resistance: 4050 ⬇️ Support: 3700 Brent Oil: $64.15 (-$0.75, -1.16%) ⬆️ Resistance: 67.50 ⬇️ Support: 62.10 Gold: $3,317.94 (-$2.59, -0.08%) ⬆️ Resistance: 3440 ⬇️ Support: 3190 Source: Bloomberg, M+

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