Malaysia Market Review. The FBM KLCI ticked marginally higher (+0.3%), spurred by optimism over the tabling of Budget 2025 on last Friday. Similarly, the lower liners also finished higher, while the Technology sector (+1.4%) outperformed the mostly positive sectorial peers.
Global Markets Review. The US stock markets closed higher, driven by broader gains across technology stocks, particularly Netflix which saw a 11% jump in share price after the streaming giant topped Wall Street estimates for subscriber additions. The European stock markets also extended their gains, while Asia Pacific stock markets finished broadly higher following the release of stronger-than-expected China’s 3Q24 GDP data that expanded +4.6% yoy.
Market Outlook. We foresee the local bourse to turn sideways as investors digest Budget 2025. The surprise from the proposed 2% dividend tax on dividend income of RM100,000 may attribute to some negative impact the Malaysian equities today. The lower liners may also languish in the red with volatility taking the front seat. Meanwhile, investors will be keeping a close tab onto the preliminary reading of Malaysia’s 3Q24 GDP data later today. Sector wise, the construction sector will continue to thrive backed by several infrastructure projects under the RM86.0bn development expenditure allocated in Budget 2025. On the other hand, we opined that investors may take this opportunity to lock in recent gains in the plantation sector. This is due to anticipated margin pressure from rising minimum wages and export duties, while the positive effect of the higher windfall profit threshold is expected to be insignificant.
Disclaimer
The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.
Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.
Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.
| Stock | Last (RM) | Change (RM) | Volume |
|---|---|---|---|
| 0.170 | 0.000 | 116.00M | |
| 0.100 | 0.005 | 115.03M | |
| 0.055 | -0.005 | 107.79M | |
| 0.370 | -0.010 | 68.61M | |
| 0.130 | -0.030 | 68.16M | |
| 0.015 | 0.000 | 66.08M | |
| 0.345 | 0.015 | 42.11M | |
| 0.680 | 0.065 | 36.07M | |
| 0.200 | 0.005 | 28.16M | |
| 0.130 | 0.055 | 28.03M |
| Stock | Last (RM) | Change (RM) | Volume |
|---|---|---|---|
| 2.590 | 0.220 | 3.53M | |
| 31.400 | 0.180 | 0.70K | |
| 17.840 | 0.180 | 23.90K | |
| 23.280 | 0.160 | 24.30K | |
| 18.060 | 0.160 | 95.80K | |
| 1.160 | 0.150 | 2.02M | |
| 2.120 | 0.120 | 1.31M | |
| 3.680 | 0.110 | 781.30K | |
| 0.625 | 0.105 | 61.50K | |
| 0.600 | 0.100 | 10.00K |
| Stock | Last (RM) | Change (RM) | Volume |
|---|---|---|---|
| 103.200 | -0.800 | 12.50K | |
| 21.080 | -0.300 | 53.70K | |
| 4.160 | -0.180 | 5.73M | |
| 3.400 | -0.130 | 27.00K | |
| 1.490 | -0.120 | 3.58M | |
| 0.045 | -0.105 | 226.00K | |
| 26.320 | -0.100 | 63.00K | |
| 3.400 | -0.100 | 2.20K | |
| 0.535 | -0.090 | 69.00K | |
| 0.600 | -0.085 | 6.00K |
| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.292839 | 4.320724 |
| EUR | 4.669002 | 4.671453 |
| CNY | 0.604679 | 0.605028 |
| HKD | 0.552459 | 0.556091 |
| SGD | 3.270114 | 3.291722 |
Last Updated: Monday, October 21, 2024
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