Market Review & Outlook
Malaysia Market Review: KLCI slipped into negative territory to end the week on a subdued note, weighed down by renewed concerns over US president Donald Trump’s proposed tariff hikes on China. Sector-wise, gains were led by Telecommunication and Media (+1.2%), Consumer (+1.2%), and REITs (+1.0%), while Energy (-1.7%) and Financial (-1.3%) were the main laggards.
Global Markets Review: Wall Street closed off the week with solid gains, marking its best weekly performance in months, partly due to a temporary tariff reprieve on some non-Chinese goods. Meanwhile, European markets closed lower, with the STOXX 600 falling 0.1% on last Friday and 1.8% for the week, marking its third consecutive weekly loss, reflecting continued uncertainty across both European and US markets. APAC markets traded mixed overnight following Wall Street’s earlier volatility, as Trump-era tariffs stoked a risk-off mood. Hang Seng Index (+1.1%) and CSI 300 (+0.4%) rebounded strongly, supported by domestic policy optimism and tariff reprieve sentiment. Elsewhere, Japan’s Nikkei was the worst performer, plunging -3.0% on Friday due to a strong Japanese Yen and global economic uncertainty, while the KOSPI slipped -0.5%, weighed down by the escalating U.S. and China trade war.
Market Outlook: The FBM KLCI is likely to stay subdue, weighed down by prolonged cautious sentiment across global markets. On a brighter note, volatility may have taken a mild breather as investors continue to digest and assess the impact on reciprocal tariffs. Looking ahead, investors will continue to monitor onto the progress on tariffs developments and potential negotiations. Meanwhile, any significant shifts in tariff policies could further heighten market volatility. Still, we believe the on-going release of corporate earnings from Wall Street will play a stronger influential role in shaping investor sentiment in weeks ahead. Investors will be keeping a close tab onto Japan’s industrial production data release later today.
Sector focus. Investors are advised to remain defensive, focusing on selective sectors such as REITs and Utilities, which offer attractive dividend yields and serve as defensive plays against market volatility.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI finished mildly lower after recovering most of its intraday losses on last Friday. Indicators remained negative with the MACD Line hovered below the Signal Line, while the RSI is below 50. Short-term consolidation may take precedence after a volatile week. Immediate resistance is located at 1,470. Support is envisaged around 1,400.
Company News
Tenaga Nasional Bhd had its RM291.6m tax judicial review hearing postponed from April 14 to June 30. The High Court extended the interim stay on all enforcement actions by the Inland Revenue Board until the leave application is resolved.
Paramount Corp Bhd is facing a lawsuit over its RM145m purchase of a luxury condo site in Taman U-Thant. The property's owner under receivership, Prismaworld Embassyview, wants to block the deal and is claiming RM313m in damages.
TXCD Bhd, a PN17-listed company, secured an RM85.5m subcontract from Vestland Resources for a construction project in Subang Jaya. The scope covers superstructure and infrastructure works for a tower block.
UUE Holdings Bhd won a S$8.39m (RM28.1m) subcontract in Singapore through its unit Konnection Engineering. The job, awarded by Weng Guan Technology, involves installing HDPE pipes for SP PowerAssets.
SkyWorld Development Bhd signed an MOU with landowner Dong Me Kong and Phu My to explore a joint residential project in Ho Chi Minh City, Vietnam.
LBS Bina Group Bhd declared a total FY2024 dividend of 4.7 sen per share, its highest since FY2017. This includes a 1 sen interim, 1.1 sen final, and 2.6 sen special dividend.
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Currency | Buy Rates (RM) | Sell Rates (RM) |
---|---|---|
USD | 4.397877 | 4.428426 |
EUR | 5.020163 | 5.029642 |
CNY | 0.602907 | 0.603502 |
HKD | 0.566843 | 0.571304 |
SGD | 3.340119 | 3.366686 |