Market Review & Outlook
Malaysia Market Review: The FBM KLCI (-1.4%) staged a pullback, snapping a three-day winning run with more than two third of the key index components closed lower as the key index slipped -3.9% mom in Mar 2025. The lower liners also retreated, while the Transportation & Logistics (+1.3%) sector was the sole gainer amongst the sectorial peers.
Global Markets Review: Wall Street ended mixed with the Dow slipping -0.03%, while both the S&P 500 and Nasdaq added 0.4% and 0.5% respectively after a choppy trading session, lifted by technology stocks while focus turns towards the prospects of interest rate cuts. Across Europe, markets finished higher after Eurozone inflation cooled to 2.2% in Mar 2025. Meanwhile, Asian markets ended mostly upbeat, recovering from prior session selloff.
Market Outlook: Expectedly, profit taking activities took hold on the local bourse after delivering three consecutive days of win as investors locked in recent gains ahead of the extended weekend Hari Raya festive break. We reckon the local bourse may attempt to defend the 1,500 psychological level over the interim. Sentiment is expected to remain jittery ahead of the reciprocal tariff implementation from US. The lower liners may brace for a consolidation spell amid the absence of fresh leads as certain investors are still reeling from the recent extended break. Economic wise, investors will be monitoring over Malaysia manufacturing data later today, while all eyes will glue towards US announcement of reciprocal tariff scheduled to be announced later tonight.
Sector focus. The Plantation sector is expected to gain ground amid the higher CPO prices. Meanwhile, the recovery in Nasdaq overnight may see effects spillover to stocks across Bursa Malaysia Technology sector today.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI formed a bearish candle to reverse most of its intraday losses. Indicators were mixed with the MACD Line hovered above the Signal Line, while the RSI is below 50. A consolidation may take place with trading range between 1,480-1,530. Immediate resistance is located at 1,550. Support is envisaged around 1,500.
Company News
MN Holdings Bhd - via its subsidiaries MN Power Transmission Sdn Bhd and Mutu Nusantara Sdn Bhd - has secured a RM137.8mil contract from Tenaga Nasional Bhd for the installation of a new transmission main intake (PMU) 275 kilovolt (kV) Kenyir Switching Station Gas Insulated Substation (GIS) in Terengganu.
Genting Bhd said the Nevada Gaming Commission has accepted the terms of a settlement in relation to a complaint against its Las Vegas resort.
MMAG Holdings Bhd announced that Datuk Farhash Wafa Salvador has emerged as its largest shareholder, after acquiring a 20% stake or 462 million shares earlier last week.
Lim Seong Hai Capital Bhd, which has been slapped with a lawsuit by the former operator of Kuala Lumpur Tower, said the claims against its subsidiaries are without merit and cannot be established.
Able Global Bhd said its executive chairman Ng Keng Hoe was charged with abetment of dishonest misappropriation on Tuesday.
Kerjaya Prospek Property Bhd has proposed a rights issue of shares and redeemable convertible unsecured loan stocks (RCULS) to raise up to RM147.18 million, mainly to fund property development projects and repay loans.
Yinson Holdings Bhd’s latest quarterly net profit halved to RM146 million from RM278 million a year earlier, mainly due to lower contribution from its engineering, procurement, construction, installation and commissioning (EPCIC) business.
GUH Holdings Bhd is acquiring 27.22ha of land in Semenyih for RM71.76 million from Rich Court Estate Sdn Bhd.
Dagang Nexchange Bhd said it is seeking a court order to set aside an arbitration ruling against its units, DNeX Semiconductor Sdn Bhd and SilTerra Malaysia Sdn Bhd, in a dispute between the two firms and China-based Tethystronics Technologies Company Ltd (TTCL).
Sarawak Cable Bhd said its external auditor has expressed a disclaimer of opinion on the Practice Note 17 (PN17) company’s audited financial statements for the financial period ended Nov 30, 2024 (FY2024), citing multiple material uncertainties that cast significant doubt on its ability to continue as a going concern.
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Currency | Buy Rates (RM) | Sell Rates (RM) |
---|---|---|
USD | 4.438795 | 4.472568 |
EUR | 4.812854 | 4.816325 |
CNY | 0.611771 | 0.612291 |
HKD | 0.570562 | 0.574463 |
SGD | 3.306949 | 3.329359 |