Magni-Tech’s Q1-FYR2027 revenue fell 15.6% y/y to RM318.6 million, while PAT dropped 17.5% to RM29.4 million. Basic EPS of 6.78 sen makes up only 24% of our FY27F EPS of 28 sen, a slight miss against our own estimate given the seasonally stronger quarters ahead are needed to close the gap. Garment revenue, which drove 93% of the top line, fell 17.3% on lower sales orders, though packaging revenue rose 16.8% on stronger demand. The bottom line was cushioned by a net forex gain of RM3.37 million versus a RM2.28 million loss a year ago, alongside higher interest income of RM4.60 million and dividend income of RM2.36 million. Profit from operations fell a steeper 24.4% to RM31.6 million, underscoring the extent of the garment volume decline before other income items.

Debt free balance sheet with cash pile growing

Magni-Tech remains debt free, with cash and cash equivalents rising to RM553.1 million from RM477.3 million at FYR2026 year end. Operating cash flow strengthened sharply to RM77.7 million from RM45.3 million a year earlier, helped by a RM24.5 million drawdown in inventories and a RM21.5 million reduction in receivables as working capital unwound. Net cash from investing activities turned positive at RM67.2 million, largely from the withdrawal of RM85.4 million in fixed deposits. The group paid RM8.7 million in dividends during the quarter and continues to carry no borrowings or debt securities on its balance sheet.

Cautious outlook as tariffs and land deal loom

Management maintains a cautious outlook for FYR2027, citing the ongoing US trade war, Iran-Middle East tensions lifting oil prices, intensifying inflation and weaker consumer spending as headwinds to garment demand. Post quarter end, wholly owned subsidiary Magni Land completed a RM133.3 million freehold land acquisition on 4 August 2026, alongside a related RM126.4 million debt-to-equity conversion in the subsidiary on 26 August 2026. These moves signal a meaningful capital allocation shift toward property, and we will watch for clarity on the intended use of the land and its impact on future returns on capital before turning more constructive on near term growth.

Cut intrinsic value to RM2.00, stock undervalued

We cut our intrinsic value for Magni-Tech to RM2.00 from RM2.10, based on 7.5x FY27F PE, representing the stock’s short term historical average trading valuation, following the Q1 miss against our own estimate. Against the current share price of RM1.64, this implies a 22% upside to intrinsic value, placing the stock in undervalued territory under our five tier framework. The market appears to be pricing in the weaker garment order book and near term earnings softness, but the group’s debt free balance sheet and RM553.1 million cash pile provide a buffer that we believe is not fully reflected at current levels.

Customer concentration and FX swings remain key risks

Magni-Tech’s garment segment is heavily reliant on a small number of major sportswear customers, leaving revenue exposed to any pullback in orders from these accounts, as seen in the 17.3% y/y decline this quarter. The group’s export driven, USD denominated sales expose earnings to foreign exchange swings, evident in the RM5.9 million swing in net forex gains that flattered this quarter’s PBT. The newly acquired RM133.3 million land parcel introduces execution and capital deployment risk if returns fail to match the group’s core manufacturing margins. Escalating US tariff policy and softer global consumer spending also pose direct downside risk to garment order volumes into FYR2027.

Banco Santander is showing a healthy long term uptrend but is currently pausing after a sharp rally into August, giving back some gains as price cools off from the recent high near 14.86. The stock remains above its 50 day, 150 day and 200 day moving averages, with the 200 day at 12.41 and 150 day at 12.74 confirming the broader structure is still bullish. However, price has slipped slightly below the 20 day moving average at 14.58, suggesting near term momentum is softening. RSI at 50.68 is neutral, neither overbought nor oversold, while MACD at 0.15 against signal 0.20 with a negative histogram of negative 0.05 points to fading short term momentum. Stochastic near 9.06 is deep in oversold territory, which often precedes a bounce if buyers step back in. Immediate support sits at 14.08 near the 50 day moving average, with stronger support at 12.74 if the pullback deepens. On the upside, resistance is at 14.86, the recent swing high, followed by the psychological 15.00 level. A close above 14.86 would reopen the uptrend, while a break below 14.08 risks a deeper correction.

Alphabet: Neutral

Alphabet is in a corrective phase after topping out near 400 in May, with price now consolidating just below its key moving averages. The stock closed at 333.78, sitting fractionally under the 200 day moving average at 334.22, while the 20 day, 50 day and 150 day averages at 342.60, 346.79 and 340.18 are all stacked above price, reflecting a bearish short to medium term structure despite the strong long term uptrend still visible on the chart. RSI at 41.85 shows momentum has weakened without yet reaching oversold extremes, while MACD at negative 3.70 against signal negative 2.86 with a negative histogram of negative 0.83 confirms downside momentum is still in control. Stochastic at negative 53.06 versus negative 44.97 is deeply oversold, raising the odds of a near term relief bounce. Immediate support is at 334, the 200 day moving average, with a break below risking a slide toward 310 to 300. On the upside, resistance is clustered at 340 to 347 where the 150 and 50 day averages converge, and a reclaim of that zone would be needed to restore bullish structure, with further resistance near 365.

IOICORP: Bullish

IOI Corporation Berhad is displaying a powerful uptrend with a sharp acceleration since July, pushing the stock to a fresh high of RM4.86 before closing at RM4.79. Price is trading well above all major moving averages, with the 20 day at RM4.61, 50 day at RM4.49, 150 day at RM4.25 and 200 day at RM4.20, all in clean bullish alignment that confirms strong medium and long term momentum. RSI at 64.79 shows healthy bullish strength without yet flagging overbought risk, giving room for further upside. MACD at 0.0853 against signal 0.0706 with a positive histogram of 0.0147 confirms momentum remains constructive, though the pace of expansion has slowed slightly from the initial breakout thrust. Stochastic at 44.05 versus 36.80 has pulled back from overbought extremes, suggesting a brief cooling off within the broader uptrend rather than a trend reversal. Immediate support is at RM4.61, the 20 day moving average, with stronger support at RM4.49 near the 50 day average. A break below RM4.49 could trigger a deeper pullback toward RM4.25. On the upside, resistance sits at the recent high of RM4.86, and a breakout above that level could extend the rally toward RM5.00.

Republic Services Inc is showing a constructive setup as it breaks out of a broad range that has persisted for most of the year, with price now trading above all major moving averages after a tight consolidation between the 20 day, 50 day, 150 day and 200 day lines near USD214 to USD216. This convergence of moving averages reflects a period of equilibrium that appears to be resolving to the upside as the stock pushes back toward USD223. RSI at 57.11 indicates moderate bullish momentum with plenty of room before overbought conditions. MACD is positive with the line at 1.81 above the signal at 1.28 and a rising histogram of 0.53, suggesting momentum is building. Stochastic momentum at 42.19 with the signal at 39.25 is still in the lower half of its range, leaving room for further upside before becoming stretched. Immediate support is found at USD216.14, aligning with the clustered moving averages, with stronger support below at USD214.62. A breakdown under USD214 would risk a retest toward USD210. On the upside, resistance sits at the recent swing high of USD224.09, and a clean break above that level could open the path toward the March high near USD230.

AMZN: Neutral

Amazon.com Inc is showing a choppy and indecisive technical structure after failing to sustain the sharp rally that peaked near USD275 in August. The stock has pulled back and is now trading below its 20 day moving average at USD264.55, though it remains above the 50 day moving average at USD252.41 and the 150 day at USD241.00, which keeps the broader intermediate trend intact. RSI at 46.33 reflects neutral to slightly weak momentum, sitting below the midline and confirming the loss of upward thrust. MACD has turned negative with the line at 1.09 crossing below its signal at 2.55, and the histogram at negative 1.45 points to strengthening bearish momentum in the short term. Stochastic momentum at negative 29.60 with the signal at negative 35.19 shows the stock is approaching oversold territory, which could set up a bounce if buyers step back in. Immediate resistance is located at USD264.55, followed by the more significant August swing high near USD275. Support is seen at USD252.41 near the 50 day moving average, with a break below that level exposing USD241.00 as the next line of defense.

IJM: Slightly Bullish

IJM Corporation Berhad is displaying a strong technical breakout structure after emerging from a prolonged basing pattern between February and July, with the stock rallying sharply from the July low near RM2.25 to a recent high of RM2.86. Price is trading comfortably above all major moving averages, with the 20 day moving average at RM2.7290 providing the first layer of dynamic support, followed by the 50 day at RM2.4988 and 150 day at RM2.4238. The moving average alignment is constructive and confirms strengthening medium term momentum. RSI at 66.41 shows healthy bullish momentum without being extended into overbought extremes. MACD remains positive at 0.1029 against its signal line of 0.1024, though the flattening histogram suggests momentum is pausing after the sharp advance. The stock is currently consolidating just under the RM2.86 to RM2.88 resistance zone, which marks the recent swing high. A decisive break above this level could open the path toward RM3.00. Immediate support sits at RM2.73, with stronger support at RM2.50. A breakdown below RM2.50 would risk a deeper retracement toward RM2.42.

Malaysia’s Big Four Banks: Scale, Digitalisation and Regional Diversification in Focus

Malaysia’s banking sector remains anchored by four dominant Bursa-listed lenders: Malayan Banking Berhad (Maybank), Public Bank Berhad, CIMB Group Holdings and RHB Bank Berhad, which together account for the bu…

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Bursa Malaysia staged a broad-based rally in August 2026, with the FBM KLCI pushing through the 1,750 level as index heavyweights, led by the YTL group of companies, ignited a wave of momentum buying. Sentiment was buoyed by a Wall Street-driven risk rally, easing US Treasury yields, and continued optimism around AI and data centre-linked capital spending across Johor’s industrial corridor. Construction, utilities and semiconductor counters were the standout performers, while participation broadened into property and soft commodities as investors chased earnings momentum into the August reporting season.

1. YTL Power International +38%
YTL Power, a regional power generator pivoting into data centre infrastructure, surged after unveiling a tie-up with JLand Group for a gigawatt-scale data centre campus at Sedenak Tech Park, Johor. Continued EPF buying and a Wall Street-led rally lifted the counter further.

2. YTL Corporation +28%
YTL Corporation, the diversified conglomerate parent of YTL Power, rode the same AI data centre narrative as its utility arm, with investors rotating into the group ahead of infrastructure buildout in Johor. Index fund buying and heavyweight momentum in YTL-linked counters added to the rally.

3. Ranhill Utilities +26%
Ranhill Utilities, the Johor water and power group behind Ranhill SAJ, extended gains on rising water demand tied to the Johor-Singapore Special Economic Zone data centre boom. A blended water tariff hike and resilient quarterly margins reinforced the bullish earnings outlook.

4. Sime Darby +23%
Sime Darby, the diversified automotive and industrial equipment conglomerate, rallied into its 27 August results on strong dealership volumes and undemanding valuations near 7x trailing earnings. A near 6% dividend yield drew value investors back into the stock.

5. Kerjaya Prospek Group +17%
Kerjaya Prospek, a premium high-rise construction contractor, gained as its order book swelled past RM5.27 billion on a string of fresh wins, including jobs tied to data centre and industrial developments. Replenishment already exceeded its full-year target with months to spare.

6. Inari Amertron +17%
Inari Amertron, Malaysia’s largest outsourced semiconductor assembly and test provider, benefited from a broader OSAT upcycle as RF content recovery and emerging photonics demand lifted sentiment ahead of its 27 August results. Renewed Nasdaq chip strength also lifted local peers.

7. ViTrox Corporation +17%
ViTrox, a machine vision and semiconductor test equipment maker, tracked the region wide chip sector rally as AI driven capital expenditure among foundries and OSAT players lifted demand expectations for its inspection systems. Improved order visibility supported renewed institutional buying.

8. Mah Sing Group +17%
Mah Sing, a leading residential property developer with a glove manufacturing arm, climbed on steady new property sales momentum and optimism over its launch pipeline. A resilient dividend yield and undemanding valuation added to its appeal amid a property sector re-rating.

9. Guan Chong +17%
Guan Chong, the world’s largest cocoa processor by grinding capacity, gained as elevated global cocoa bean prices continued to support cocoa butter and powder margins. Investors positioned for another strong quarter as tight global cocoa supply kept processing spreads favourable.

10. Kelington Group +16%
Kelington Group, a specialist in ultra high purity gas and chemical delivery systems for semiconductor fabs, rose on continued capex expansion across regional wafer fabrication plants. Its exposure to Malaysia’s semiconductor infrastructure buildout underpinned investor optimism.

OSK Holdings Berhad is displaying a strong and well established uptrend, with price trading at MYR2.07 comfortably above all major moving averages including the 20 day at MYR2.05, 50 day at MYR1.99, 150 day at MYR1.83 and 200 day at MYR1.75. The stacking order of these averages is clean and bullish, confirming sustained medium term strength since the breakout from the March consolidation phase. RSI at 59.3 remains in healthy bullish territory without stretching into overbought conditions, giving room for further upside. MACD at 0.0199 versus signal 0.0256 shows momentum cooling slightly with a negative histogram, suggesting the recent rally is pausing rather than reversing. The stochastic reading near negative 30 also points to a short term pullback or sideways digestion after the strong August advance. Immediate support sits at MYR2.05 near the 20 day average, with stronger support at MYR1.99 at the 50 day line. A break below MYR1.99 risks a deeper retracement toward MYR1.83. On the upside, resistance is seen at MYR2.10 to MYR2.15, the recent swing high zone, and a clean break above MYR2.15 could open the path toward MYR2.30.

Singapore Exchange: Bullish

Singapore Exchange Limited is exhibiting a powerful and well structured long term uptrend, with price at SGD25.50 sitting just below its all time high after a strong multi month advance from the SGD17 base. The moving average alignment is textbook bullish, with the 20 day at SGD24.97, 50 day at SGD24.39, 150 day at SGD21.57 and 200 day at SGD20.44 all stacked in ascending order, confirming robust trend integrity across all timeframes. RSI at 62.4 reflects healthy bullish momentum without being overextended, leaving room for continuation. MACD remains positive at 0.37 against a signal line of 0.35, though the histogram is thin, suggesting momentum is steady but not accelerating sharply. The stochastic reading near 46 to 48 shows the stock is in a neutral zone after cooling from overbought levels in July, consistent with orderly consolidation rather than distribution. Immediate support is found at SGD24.97 at the 20 day average, with firmer support at SGD24.39 near the 50 day line. A break below SGD24.39 could see a pullback toward SGD23.00. On the upside, resistance sits at the recent high near SGD25.59, and a decisive break above this level could open the path toward SGD27.00.

The FBMKLCI is showing a gradual recovery within a broader sideways to bullish structure, trading above the 200 day moving average at 1,697.51 but sitting just below the 20 day at 1,734.28, reflecting a market still consolidating after choppy price action since February. The index closed at 1,741.72, down from the intraday high of 1,752.81, with the 50 day at 1,710.94 and 150 day at 1,714.16 converging closely, a sign the trend is stabilizing after months of range bound trading between 1,650 and 1,760. RSI at 58.88 points to constructive but not overheated momentum, while MACD at 7.49 versus signal 7.69 with a slightly negative histogram of negative 0.20 suggests momentum is flattening near the zero line, a typical pause before the next directional move. Stochastic near 16.18 to 35.91 shows room for further upside before overbought conditions emerge. Immediate resistance sits at 1,752, the recent swing high, followed by stronger resistance at 1,760 to 1,770. A breakout above 1,770 could open the path toward 1,800. Support is at 1,734 near the 20 day average, with firmer support at 1,711 at the 50 day line. A break below 1,711 risks a retest of 1,690.

Economic/corporate earnings that will influence market in the upcoming week.

Bursa Malaysia's direction this week hinges squarely on two back to back events rather than fresh Jackson Hole commentary, which is now behind markets. BNM's Monetary Policy Committee meets on Thursday, September 3, 2026, while the US August employment report is scheduled for release on Friday, September 4, 2026, and both will shape sentiment heading into the September 15 to 16 FOMC decision. BNM is widely expected to hold the OPR steady, with July's cooler 1.8 percent inflation print and the second quarter GDP acceleration to 6.0 percent giving policymakers little urgency to shift, though the tone of the statement on 2027 growth risks will be closely parsed. On the US side, the ISM Manufacturing PMI opens the week on Monday, followed by ADP employment data and the ISM Services PMI midweek, then Thursday's jobless claims ahead of Friday's payrolls headline, with traders looking for confirmation that a September rate cut remains on track following Fed Chair Kevin Warsh's Jackson Hole remarks last week. A soft payrolls print would reinforce dovish Fed pricing and could lift regional risk appetite, while a hot print risks reviving yield pressure and ringgit softness. Domestically, a still heavy second quarter Bursa earnings cycle across banking, technology and plantation counters continues to drive stock specific moves, with the index likely tracking the net pull of the BNM decision, the US jobs data, and local corporate results.

The S&P 500 continues to display a healthy long term uptrend, trading well above all major moving averages with the 20 day at 7,701, 50 day at 7,558, 150 day at 7,207 and 200 day at 7,114, confirming a constructive bullish alignment across timeframes. The index closed at 7,711.76, slightly below the intraday high of 7,741.27, re…

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FY26 Net Profit Beats Consensus on Record Core Profit and PPA Gain

EG Industries closed FY2026 with revenue of RM1.43 billion, up 31.3% year on year, and core profit of RM102.4 million, up 24.4%, both records. Net profit attributable to shareholders came in at RM128 million, comfortably ahead of…

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Earnings in line, cost discipline drives 1H net profit up 7.1%

RHB Bank posted 1H FY2026 net profit of RM1.66 billion, up 7.1% YoY from RM1.55 billion, equivalent to 48% of our full year FY26 consensus estimate of RM3.48 billion, which we deem in line with expectations given the seasonally stronger second half typical of the group. Total income rose to RM4.36 billion as net fund based income grew 5.3% YoY to RM3.14 billion on 7.0% loan growth and lower funding cost, while non-fund based income held steady at RM1.22 billion as fee income offset softer treasury contribution. Cost growth was contained at 2.6%, improving CIR to 46.8% from 47.3%, while ECL fell 12.7% YoY to RM170 million on better loan quality. 2Q net profit was roughly flat YoY at RM807 million.

Balance sheet remains robust with healthy capital buffers

Capital position stayed strong with CET-1 at 14.8% and TCR at 17.1% as at 30 June 2026, providing ample buffer against external shocks. Total assets rose to RM379 billion from RM358 billion in December 2025, with shareholders equity steady at RM34 billion and net assets per share of RM7.81. Gross loans grew an annualised 6.1% to RM258 billion, led by Singapore at 16.4%, while customer deposits grew 12.4% to RM268 billion with CASA ratio at 27.6%. Group GIL ratio stood at 1.47%, with domestic GIL at 1.27% comfortably below the industry average of 1.43%, and loan loss coverage remained solid at 115.4% with LCR at 138.3%.

RHB PAY rollout and regional growth underpin PROGRESS27 targets

Management attributed the quarter to disciplined execution of PROGRESS27, anchored on cost optimisation, asset quality and innovation. The launch of RHB PAY, Malaysia’s first bank owned unified payment gateway, is expected to deepen merchant partnerships and drive up to RM500 million in incremental CASA growth by year end. Regional momentum remains a bright spot, with Group International Business pre-tax profit up 62.0% YoY and Singapore loans growing 16.4%, while Islamic financing’s share of domestic financing rose to 47.1% from 46.4%. RHB Economics forecasts Malaysia GDP growth of 5.4% in 2026 on domestic demand and E&E expansion, though trade policy and geopolitical developments remain watch items over the next 6 to 12 months.

Intrinsic value raised to RM8.80 on premium price to book

We raise our intrinsic value to RM8.80 from RM8.45, based on an ascribed 1.12x price to book multiple, a premium to the stock’s short term average valuation of 1.01x, reflecting the improved ROE trajectory and resilient asset quality delivered this quarter. The premium multiple assigned is supported by the group’s above industry asset quality metrics and the CASA accretion potential from RHB PAY, though further re-rating would likely require sustained NIM stability or faster non-fund income growth.

Segment divergence and external risks cloud otherwise solid print

Group Corporate and Business Banking pre-tax profit fell 3.3% YoY despite loan growth, suggesting margin or provisioning pressure worth monitoring into 2H. Group Insurance pre-tax profit dropped sharply by 42.6% YoY, a segment specific risk that could recur if claims experience or investment income stays soft. NIM at 1.86% leaves limited room to absorb renewed deposit competition as CASA led growth strategies across Malaysian banks intensify. Regional exposure via Singapore and Group International Business, while a growth driver, also exposes the group to trade policy shifts and geopolitical volatility flagged in management’s own commentary. Execution risk on RHB PAY’s RM500 million CASA target by year end is a further swing factor.

CIMB Delivers Resilient 2Q26 on Record Low Asset Quality

2Q26 Net Profit Rises 1.2% QoQ, In Line With Consensus
CIMB posted 2Q26 net profit of RM1.94 billion, up 1.2% QoQ from RM1.92 billion in 1Q26, with 1H26 net profit of RM3.85 billion tracking 48% of the full year consensus forecast of RM8.08 billion, within expectation. Annualised ROE improved 20bps QoQ to 11.2% while EPS came in at 17.9 sen. Total income grew 2.8% QoQ to RM5.56 billion, led by a 6.0% QoQ jump in non-interest income to RM1.83 billion on higher franchise fees and client sales momentum, while net interest income rose 1.3% QoQ to RM3.73 billion on 2.2% asset growth despite moderate NIM contraction. The print reaffirms broad based momentum across consumer, commercial and wholesale banking, with constant currency loan growth of 1.1% underpinning the topline expansion.

Asset Quality At Record Low, Capital Buffers Remain Robust
Balance sheet metrics stayed healthy in 2Q26. Gross impaired loan ratio hit an all time low of 1.6% as at June 2026, reflecting broadly stable asset quality across the Group’s ASEAN footprint. Common Equity Tier 1 ratio stood at a robust 14.0%, providing ample buffer to absorb macro headwinds and fund future growth. On a constant currency basis, total deposits grew 2.5% QoQ, comfortably funding loan growth of 1.1% and asset growth of 2.2%. Operating expenses declined 1.6% QoQ, driving a 200bps improvement in cost to income ratio to 45.2%, underscoring continued cost discipline even as CIMB keeps investing in technology, data and AI capabilities.

Forward30 Momentum Intact, NIM Pressure Set To Ease
Management guided that NIM pressure should progressively ease into 2H26, supported by loan repricing in Indonesia and continued growth in lower cost deposits across key markets. CIMB is doubling down on its Forward30 strategy, capturing structural ASEAN shifts in AI and data centres, wealth, and cross border trade via the JS SEZ, ASEAN Financial Passport and a new ASEAN Corporate Hub in Singapore. TNG Group profit more than doubled year on year in 1H26, reinforcing the digital platform’s contribution. Disciplined capital allocation continues, evidenced by the exit from CIMB Thailand’s auto business, alongside commitment to the Group’s multi year capital return plan.

Intrinsic Value Raised To RM8.15, Fairly Valued
We raise our intrinsic value to RM8.15 from RM8.05, derived from a target price to book ratio of 1.25x applied to FY26F book value per share, a premium to the stock’s short term average PB valuation of 1.13x that reflects CIMB’s improving ROE trajectory and record low asset quality. The 19.65 sen first interim dividend, based on a 55% payout ratio, adds further support to total shareholder return. This P/BV framework remains our preferred lens for regional banks under coverage given ROE convergence across ASEAN peers.

Risks: NIM Trajectory, Indonesia Exposure, Digital Execution
Key risks include a slower than expected NIM recovery should Indonesian loan repricing or deposit cost management underperform guidance. CIMB Niaga and CIMB Thai exposures leave the Group sensitive to rupiah and baht volatility as well as region specific credit cycles. Continued heavy investment in technology, data and AI capabilities could pressure cost to income ratio if efficiency gains lag spending. Execution risk also sits with integrating TNG Group’s digital proposition at scale and with the pace of tokenised asset initiatives such as the RM1.68 billion sukuk issuance, where regulatory or adoption setbacks could delay Forward30 monetisation targets.

Oracle Corporation is showing early signs of stabilization after a prolonged and volatile downtrend that saw the stock fall from above 300 to a low near 150. The price structure remains bearish on a longer term basis since the stock is trading well below the 150 day and 200 day moving averages at 160.83 and 171.11, both of which continue to slope downward and reflect lingering distribution pressure. However, near term momentum is improving, with price now reclaiming the 20 day and 50 day moving averages at 145.93 and 142.20, and this reclaim has acted as fresh dynamic support around the 142 to 146 zone. RSI at 57.25 shows healthy bullish momentum without being overbought, while MACD has turned positive at 1.67 with a rising histogram, signaling improving short term strength. Stochastic is neutral and trending upward, still with room to run before overbought conditions. Immediate support is located at 145.00, followed by stronger support at 138.00 based on the prior swing low. A break below 138.00 would risk a retest of the 130.00 region. On the upside, resistance is seen at 160.00 near the declining 150 day average, with a break above that opening the path toward 172.00.

TD: Slightly Bullish

The Toronto-Dominion Bank is in a well-established long term uptrend, trading far above the 150 day and 200 day moving averages at 108.11 and 103.41, which confirms the broader bullish structure remains intact. However, the stock is currently consolidating just above the 20 day and 50 day moving averages, both clustered tightly around 120.50 to 120.60, after pulling back from the recent high near 125.00. This convergence of short term averages is acting as immediate dynamic support. RSI at 53.14 is neutral, showing the recent surge in momentum has cooled without turning bearish. MACD has slipped into negative territory at negative 0.28 with a fading histogram, and Stochastic at negative 20 is in oversold territory, suggesting the pullback may be nearing exhaustion. Immediate support sits at 120.50, with stronger support at 118.00 based on the recent swing low. A break below 118.00 risks a deeper retracement toward 115.00. Resistance is at 123.00, followed by the recent high near 125.00, a breakout above which would resume the primary uptrend.

Revenue Rises 8% But EPS Misses on Share Dilution

SKB Shutters delivered FY26 (year ended 30 June 2026) revenue of RM149.1 million, up 8% from RM137.7 million a year earlier, led by stronger shutters and doors segment sales. Profit before tax rose 19% to RM41.1 million, aided by improved production…

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Johnson & Johnson is displaying a healthy long term uptrend with a fully bullish moving average alignment, as the 20 day at USD263.04 sits above the 50 day at USD256.85, the 150 day at USD242.19 and the 200 day at USD233.09, confirming strong medium term momentum after the breakout past the prior swing high near USD273. Price recently pulled…

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H1FY26 Net Profit In Line With Consensus and FY26 Forecast

Maybank posted H1FY26 net profit attributable to shareholders of RM5.17 billion, down 0.9% year on year from RM5.22 billion, in line with consensus. The print also tracks 49% of our FY26 net profit forecast of RM10.52 billion, consistent with normal first half seasonality. Net interest income and…

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NVIDIA delivered Q2 FY27 revenue of $96.22 billion, up 106% year on year and above consensus of $92.16 billion, a beat of roughly 4.4%. Non-GAAP net income of $53.95 billion topped the $50.88 billion consensus estimate by about 6%, with non-GAAP diluted EPS of $2.22 versus the $2.09 Street estimat…

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2Q26 Profit Up 28% Y/Y But 1H26 Trails Consensus Pace
Southern Cable’s 2Q26 net profit rose 28.2% y/y to RM40.6m on revenue of RM527.6m, up 25.8%, driven by robust cable and wire demand from data centre and renewable energy build-out, national grid upgrades and construction activity. For 1H…

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Microsoft Corporation is showing a decisive trend reversal, having broken out of a prolonged six month decline and rebounded sharply from the sub USD350 lows to reclaim its prior distribution zone near USD490 to USD500. The stock is now trading firmly above all major moving averages, with the 20 day moving average at USD482.92 acting as the…

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1H26 Net Profit Up 2.0% but Trails Consensus Run-Rate, a Miss
Public Bank posted 1H26 pre-tax profit of RM4,708.4 million, up 1.3% year on year, with net profit attributable to equity holders rising 2.0% to RM3,576.3 million and basic EPS at 18.50 sen versus 18.15 sen. 2Q26 net profit alone gr…

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Eli Lilly and Company is in a strong intermediate uptrend, having broken out decisively from the multi month base built between March and June around USD1000 to USD1080. The stock closed at USD1246.93 and remains comfortably above all major moving averages, with the 20 day moving average at USD1200.57 acting as the nearest layer of dyn…

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SunCon posted Q2FY26 revenue of RM1,017.7 million, down 31.1% y-o-y against a high base from accelerated data centre progress in 2Q25, while profit before tax rose 7.1% y-o-y to RM131.3 million as margins improved to 12.9% from 8.3%. Construction PBT margin widened to 13.3% from 8.5% on a richer…

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