Market Review & Outlook
Malaysia Market Review: The FBM KLCI (+1.2%) advance to lead the winners list across regional markets, driven by gains in more than two third of the key index components yesterday. The lower liners also advanced, while only the Telecommunication & Media (-0.5%), Plantation (-0.2%) and Transportation & Logistics (-0.03%) sectors underperformed.
Global Markets Review: Wall Street extended its pullback with all three major indices finished in the red on concerns that the widening trade war between US and rest of the world may dampen prospects of economic growth along with the higher PCE prices that rose 2.4% qoq – implying stickiness to inflation, while brushing off the stable Q4 2024 GDP data that rose 2.4% yoy. In Europe, markets also ended lower, dragged down by automotive makers. Meanwhile, Asian markets closed mixed with Chinese markets advanced, driven by technology and automotive stocks, shrugging off concerns over US automotive tariffs.
Market Outlook: The FBM KLCI managed to outperform and defied the weakness from Wall Street yesterday as the key index is poised to wrap up the week on a positive note ahead of the extended weekend Hari Raya festive break. After undertaking a strong positive stride yesterday and with the key index lingering at two-week high levels, we reckon mild profit taking activities could be on the table today, taking cue from the weakness on Wall Street and European markets overnight. As we draw the week close, we expect trading activities could turn out to be fairly muted as investors retreat to the sidelines ahead of the extended weekend break. Investors will be keeping a close watch onto US Michigan Consumer Sentiment data to be release later tonight.
Sector focus. The Energy sector remains in favour as Brent oil prices notched its fourth day winning run amid tightening supplies. The solid air travel demand which boosted air passenger traffic of 8.7m in Feb 2025 (+6.9% yoy) is positive towards travel and leisure-related stocks.
Technical Commentary: The FBM KLCI formed a bullish engulfing candle after recovering all its intraday losses to close at two-week high yesterday. Indicators turned positive with the MACD Line climbed above the Signal Line, while the RSI hooked above 50. Immediate resistance is located at 1,550. Support is envisaged around 1,500.
Company News (source: various)
Sapura Energy Bhd is confident that it is well-positioned to sustain its recovery momentum, given the group’s current RM8.5bil order book, the highest level achieved in the past few years.
HHRG Bhd has suspended the managing director, production manager and finance and human resource manager of its 51%-owned subsidiary, MG Furniture Sdn Bhd (MGF), to facilitate internal investigations.
Infrastructure and engineering company Jati Tinggi Group Bhd has secured a RM48.38 million contract from Tenaga Nasional Bhd to develop power supply links for a data centre in Johor.
Keyfield International Bhd is disposing of an 11-year-old four-point mooring accommodation workboat (AWB) for US$12.5 million (RM55.4 million) to Saraf Corp India Pte Ltd (SCIPL).
Former Malayan Banking Bhd group president and chief executive officer Tan Sri Abdul Farid Alias, currently an independent director of Bursa Malaysia Bhd, has been appointed as the non-executive chairman of the stock exchange operator by the Minister of Finance, effective May 1.
KPJ Healthcare Bhd has proposed to inject two hospital properties into Al-'Aqar Healthcare Real Estate Investment Trust (Al-Aqar REIT) for a combined consideration of RM241 million via a sale-and-leaseback arrangement.
A lawsuit has been filed by the former operator of KL Tower against Lim Seong Hai Capital Bhd's subsidiaries and the Malaysian government, challenging the award of the KL Tower concession to LSH Service Master Sdn Bhd.
Cypark Resources Bhd remained in the black for a second consecutive quarter thanks to one-off gains of RM30.09 million in provision reversal and compensation from a settlement with its Negeri Sembilan waste-to-energy plant’s main contractor.
Crescendo Corporation Bhd has reported a record-high earnings for the financial year ended Jan 31, 2025 (FY2025), thanks to data centre land sales in Iskandar Puteri.
Malakoff Corp Bhd said it has secured the second phase of its solar energy contract with sister company Northport (Malaysia) Bhd.
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Currency | Buy Rates (RM) | Sell Rates (RM) |
---|---|---|
USD | 4.420886 | 4.455517 |
EUR | 4.777422 | 4.786296 |
CNY | 0.609704 | 0.610870 |
HKD | 0.568233 | 0.572913 |
SGD | 3.295156 | 3.321155 |