Market Review & Outlook
Malaysia Market Review: The FBM KLCI finished on a flattish note as the key index was nudged into the positive territory in the eleventh trading hour, boosted by gains in telco heavyweights. The lower liners retreated, while only the Telecommunication & Media (+0.6%) and Utilities (+0.1%) sectors ended on a positive note.
Global Markets Review: Wall Street resumed trading on a volatile note as the Dow sank -2.5% after President Donald Trump voiced his dissent towards Federal Reserve Chair Jerome Powell and to call for an immediate cut in interest rates, while Conference Board Leading Economic Index for the US declined -0.7% in Mar 2025 followed by downward revision of US GDP growth forecast for 2025 to 1.6%. European stock markets remain closed in conjunction with the Easter Monday public holiday. Meanwhile, Asia stock markets finished on a mixed note with China markets outperformed after Chinese government kept benchmark lending rates steady for the sixth successive month and expects fresh government stimulus in 2QCY25 to cushion trade war impact.
Market Outlook: The local bourse started off the week on lacklustre manner as the key index was traded in a tight range after briefly re-tested the 1,500 psychological level. Trading activities were fairly muted amid the absence of fresh leads compounded with holidays in overseas markets on last Friday. With the on-going volatility on Wall Street, we reckon investors may lock in recent gains with the key index looks to hover below the 1,500 psychological level. Meanwhile, the on-going barrage of US corporate earnings releases will remain in focus in this and coming weeks.
Sector focus. We remain a bearish tone onto the Plantation sector with 3-months CPO futures remain under pressured by the rising output as well as firmer Ringgit against the Greenback. Amid the potential prevailing volatility, defensive natured sectors such as REIT, Utilities and Healthcare may garner trading interests.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI formed a hammer candle to recover most of its intraday losses as the key index inched up for the third straight session. Indicators fared slightly positive with the MACD Line hovered above the Signal Line, while the RSI ticked above 50. A potential consolidation may take cue. Immediate resistance is located at 1,520. Support is envisaged around 1,440.
Company News (source: various)
Chaya Mata Sarawak Bhd has clinched a RM550mil contract from the Sarawak state government to construct the Borneo Convention Centre Kuching II, in Kuching Sarawak.
Astino Bhd is acquiring 85,615 sq metre piece of land in Seberang Perai Selatan, Penang, for RM30.41mil.
WCE Holdings Bhd said its 80%-owned unit West Coast Expressway Sdn Bhd has received consent and approval from the Malaysian government to accept a RM1.15 billion term loan facility from Bank Pembangunan Malaysia Bhd.
Panasonic Manufacturing Malaysia Bhd announced that operations at its two manufacturing facilities in Shah Alam fully restarted on Sunday, following disruptions caused by the Putra Heights gas pipeline explosion on April 1.
CIMB Group Holdings Bhd has committed RM10 billion in financing facilities to support economic activity and cross-border investments within the Johor-Singapore Special Economic Zone.
KIP Real Estate Investment Trust reported a 51.9% increase in net property income (NPI) for the third quarter ended March 31, 2025 (3QFY2025), rising to RM27.48 million from RM18.09 million a year earlier.
Salcon Bhd said it is pushing to grow its existing healthcare and renewable energy (RE) segments, and is proposing to include the two into its principal activities.
HHRG Bhd has extended chief executive officer Fong Chee Khuen’s suspension by two more weeks until May 4, pending the outcome of an internal investigation over alleged misconduct.
GDB Holdings Bhd said it has secured a court enforcement order on its RM59.32 million adjudication award against KSK Land Sdn Bhd’s unit Damai City Sdn Bhd, over outstanding payments for construction work carried out on the 8 Conlay project.
Practice Note 17 (PN17) company Ho Hup Construction Co Bhd is seeking a court order to facilitate the restructure of its debt after defaulting on loan facilities last week.
Malaysia Marine and Heavy Engineering Holdings Bhd’s wholly-owned unit received a notice of arbitration from its subcontractor Haumea Offshore Sdn Bhd in relation to the Bokor Phase 3 redevelopment project in Sarawak.
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Currency | Buy Rates (RM) | Sell Rates (RM) |
---|---|---|
USD | 4.352538 | 4.386792 |
EUR | 5.042978 | 5.047979 |
CNY | 0.599099 | 0.599744 |
HKD | 0.561079 | 0.565009 |
SGD | 3.342280 | 3.365777 |