Asia Pacific University of Technology & Innovation (APU) recorded strong individual and institutional performances at the CMT Investment Challenge – Spring 2026, demonstrating how its Accounting and Finance students are gaining international exposure and applying classroom knowledge in a competitive, market-driven environment. 

The global challenge attracted 170 participants from 29 countries and 13 universities, generating 2,138 valid investment ideas. Against this international field, APU students distinguished themselves through disciplined trading, technical analysis and risk management. 

Financial Technology Students Make Their Mark 

Among APU’s standout performers were Tan Wen Jie and Leonardo Juwana, students from the Bachelor in Banking and Finance with a specialism in Financial Technology programme. 

Tan secured second place in the Individual – Single Most Profitable Trade category, achieving an impressive 65.52% return. 

Leonardo, meanwhile, earned third place in the Individual – Lowest Max Drawdown category, limiting his portfolio decline to just 1.74%, outperforming the S&P 500 benchmark of 2.44%. 

Their performance reflected two important dimensions of investment decision-making: identifying profitable opportunities while maintaining disciplined control over downside risk. 

The students were mentored by Dr Ahmad Danial Bin Zainudin, Senior Lecturer at APU’s School of Accounting and Finance (SoAF), with the participation coordinated by Dr Ng Hui Chen, Academic Leader and Senior Lecturer at SoAF. 

Competing with a Simulated US$100,000 Portfolio 

Organised by the CMT Association with the support of technical analysis software provider Optuma, the CMT Investment Challenge – Spring 2026 was conducted fully online from 30 March to 22 May 2026. 

Participants were each given a simulated US$100,000 portfolio and required to make investment decisions involving S&P 500 constituents and US exchange-traded funds (ETFs). 

Every trade had to be supported by a technical-analysis rationale incorporating the proposed entry level, target, stop-loss level and supporting chart. This required participants to go beyond simply selecting stocks, challenging them to justify their decisions systematically and manage the risks associated with each position. 

The Lowest Max Drawdown category placed particular emphasis on risk management. Maximum drawdown measures the largest decline from a portfolio’s peak value to its subsequent trough. A lower figure therefore indicates stronger downside-risk control and better capital preservation during periods of market fluctuation. 

APU Records Strong Institutional Results 

APU also performed strongly at the institutional level, securing placements across three categories.

The results are particularly significant given the scale and competitiveness of the challenge. Across the competition, only 22% of participants recorded a lower maximum drawdown than the S&P 500, while 80% outperformed the index on an absolute-return basis and only 2% surpassed it on a risk-adjusted-return basis. 

APU’s placements therefore highlight not only the students’ ability to generate investment returns, but also their attention to portfolio discipline and risk-adjusted decision-making. 

Building the Mindset for Real Markets 

Throughout the challenge, Dr Ahmad Danial focused on developing a disciplined investment mindset, encouraging students to support their trades with evidence, recognise potential weaknesses and manage risk effectively. 

“What impressed me most was how their thinking matured. They became less focused on simply getting the market direction right and more focused on making well-supported decisions, managing downside risk and adapting when the evidence changed. That is the mindset needed for sound investment decisions in real markets,” he said. 

Preparing Students Beyond the Classroom 

Reflecting on the achievement, Professor Dr Chong Lee Lee, Head of the School of Accounting and Finance, said the competition demonstrated the value of exposing students to international benchmarks before graduation. 

“The CMT Investment Challenge allowed our students to test their knowledge and decision-making in a competitive global environment. By applying technical analysis, portfolio management and risk discipline, they gained practical exposure to the demands and uncertainties of real-world investing,” she said. 

“Experiences such as this strengthen students’ analytical judgement, professional confidence and readiness for the evolving financial services industry. They also reinforce our commitment to developing graduates who can apply what they learn with competence and discipline,” Prof Chong added. 

For APU, the achievement reflects its broader commitment to equipping Accounting and Finance students with future-ready expertise, enabling them to graduate with both strong academic foundations and the confidence to apply their knowledge in internationally relevant settings.