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Mon, 10-Feb-2025 07:12 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI extended its rally for the fourth straight session, supported by broader optimism in global markets over the past couple of days. The benchmark index rose 0.4% to close at 1590.91, led by gains Hong Leong Industries, F&N and Inari. Similarly, lower liners advanced, with most sectors closing in positive territory. The top performing sectors were Technology (+2.7%), Construction (+1.8%) and Healthcare (+0.7%).

 

Global Markets Review: Wall Street closed lower on Friday as reacted to the threat of more possible tariffs from the Trump administration while digesting a jump in consumer expectations for inflation that overshadowed monthly jobs report. The Dow (-1.0%), S&P (-1.0%) and Nasdaq (-1.4%) all delivered negative performance. Meanwhile, Asian markets ended mixed as traders were reluctant to make significant moves ahead of the release of the US jobs report. Nikkei (-0.7%) and Kospi (-0.6%) saw negative movement, while the Shanghai Composite (+1.0%) and Hang Seng (+1.2%) saw more positive movement.

 

Market Outlook: Local bourse outlook may be a bit more cautious this week, with the balance of risk hinging squarely on US trade policy. With sentiment improving and foreign funds turned buying position for the first time since the start of the year, bargain hunting activities and rotational play will be in focus, providing some upside to an otherwise uncertain time. In Malaysia, data centre-related stocks could continue to gain interests following their earlier steep losses. We expect trading activities to be relatively muted today ahead of the mid-week festive break.

 

Sector focus. The Construction, Utilities and Property sectors may continue to attract bargain hunting, driven by increased optimism in data-centre related stocks. Meanwhile, the Plantation sector may also see buying interest, tracking the increase in CPO prices, which is supported by weaker output outlook due to adverse weather conditions in Malaysia and Indonesia. Ongoing volatility in global markets could lead to renewed interest in local banking stocks, given its status as a “safe haven” sector.

 

FBMKLCI Technical Outlook

Technical Commentary: The FBM KLCI inched higher as the key index looks to take a jab towards SMA50. Indicators remained positive with the MACD Line lingering above the Signal Line, while the RSI floats above 50. Immediate resistance is located at 1,600. Support is envisaged around 1,530.

 

Company News (source: various)

NPC Resources Bhd’s co-founder Datuk Loo Pang Kee has formally launched his bid to privatise the Sabah-based palm oil producer.

 

Zecon Bhd has been granted an electricity licence from the Sarawak state government to generate solar power to supply electricity under the Sarawak Electricity Ordinance at the Kota Petra Green Technology Park in Kuching.

 

SSF Home Group Bhd has entered into a deal to supply kitchen cabinets and furniture vouchers for a home ownership scheme offered by social enterprise company Rumah Ibu Sdn Bhd (RISB).

 

Theta Edge Bhd is raising up to RM46.01 million through the issuance of 35.39 million new shares at RM1.30 apiece to Threadstone Capital Sdn Bhd, a private limited company controlled by its non-independent non-executive director Zainal 'Abidin Abd Jalil.

 

EG Industries Bhd proposed a one-for-one bonus issue involving 692.9 million new shares.

 

Teladan Setia Group Bhd has cancelled its plan to purchase a piece of land in Melaka Tengah for RM48.54 million for a health and wellness centre and serviced apartments project.

 

YNH Property Bhd has clarified that its sale of AEON Mall Seri Manjung in Perak to Sunway Real Estate Investment Trust for RM138 million is subject to shareholders’ approval in an extraordinary general meeting (EGM) to be fixed later.

 

Perak Corp Bhd has proposed to undertake a mixed development project on 54.8 acres of land owned by the company in Hulu Kinta, Perak.

Sentiment: Positive
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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.207953 4.240384
EUR 4.900569 4.909007
CNY 0.592297 0.593304
HKD 0.541528 0.545709
SGD 3.238209 3.263373