Malaysia Market Review: The FBM KLCI (+0.2%) extended its recovery for a third day, tracking the strong performance of its regional counterparts. The lower liners also inched higher mirroring gains in the main bourse. Sector-wise, the Technology sector (+4.5%) led the charge, while the Financial Services sector (-0.03%) was the sole laggard among the major sectors.
Global Markets Review: Wall Street's main indexes closed higher on last Friday, with megacap growth stocks such as Alphabet, Nvidia and Tesla leading a rebound in the technology-heavy Nasdaq. Similarly, both European markets and Asian equities closed higher as investors weighed the possibility of easing US-China trade tensions, following a more conciliatory tariff stance from the US.
Market Outlook: We expect a positive spillover from Wall Street to lift the local stock market today as the key index looks to extend its recovery streak. In our view, markets may have passed the peak of the tariff-driven volatility, suggesting a more optimistic tone ahead. Moving forward, investor focus will shift to a series of corporate earnings from major names like Apple and Microsoft, which are expected to act as key market catalysts. Meanwhile, lower liners may trade within a rangebound pattern, offering selective trading opportunities, as global market uncertainty could prompt traders to lock in recent gains through quick profit-taking. On the economic front, investor attention will turn to the upcoming release of US Q1 2025 GDP advance estimate and the house price index later this week.
Sector focus. We expect the Technology sector to continue drawing buying interest, supported by strong earnings prospects following gains in the Nasdaq. The Energy sector is expected to stay in the spotlight, on the back of oversupply concerns and weakening demand amid trade tensions between the world’s two largest economies.
Technical Commentary: The FBM KLCI formed another bullish candle as the key index drifted further from the 1,500 psychological level. Indicators remained positive with the MACD Line hovered above the Signal Line, while the RSI steadied above 50. Extended recovery may remain in place with the 1,500 level remain defended in recent days. Technically, the immediate resistance is located at 1,520. Support is envisaged around 1,470.
Company News (source: various)
Bina Puri Holdings Bhd’s shares dropped nearly 30% while its Warrant B fell over 61% on Friday, following a hacking incident which affected several clients from a small number of brokers' stock trading accounts.
To restore gas supply in areas affected by the Putra Heights’ blaze three weeks ago, Petronas Gas Bhd said it has resumed operations at the Puchong City Gate.
Sarawak Oil Palms Bhd's first quarter net profit jumped 43.17% year-on-year on improved fresh fruit bunches (FFB) production and higher selling prices of palm oil products.
Chin Teck Plantations Bhd said its second quarter net profit fell 15.6% from a year earlier, amid lower palm oil production and a foreign exchange loss.
CTOS Digital Bhd announced that its group chief executive officer (GCEO) Erick Hamburger will be stepping down in September, while it reported a 30.64% decline in net profit for the first quarter ended March 31, 2025 (1QFY2025).
UEM Edgenta Bhd has won contracts valued at S$220.48 million (RM735.23 million) from ALPS Pte Ltd to provide hospital support services in Singapore.
Taghill Holdings Bhd, formerly known as Siab Holdings Bhd, announced that it has secured a RM494 million construction contract in Bandar Sri Damansara, Selangor.
Catcha Digital Bhd is raising up to RM35.32 million through a renounceable rights issue and private placement to partially fund around RM111 million worth of acquisitions and strengthen its financial reserves.
Astro Malaysia Holdings Bhd said its subsidiaries, Astro Shaw Sdn Bhd (ASSB) and Measat Broadcast Network Systems Sdn Bhd (MBNS), have reached a settlement agreement with the Inland Revenue Board (IRB) over additional tax assessments issued between 2019 and 2023.
Iskandar Waterfront City Bhd has requested another six months from tycoon Tan Sri Lim Kang Hoo to deliberate its potential merger with Iskandar Waterfront Holdings Sdn Bhd (IWH).
Key Alliance Group Bhd's executive chairman Datuk Wira Farhash Wafa Salvador has emerged as a substantial shareholder in the loss-making company.
Disclaimer
The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.
Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.
Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.
Currency | Buy Rates (RM) | Sell Rates (RM) |
---|---|---|
USD | 4.214000 | 4.246402 |
EUR | 4.933065 | 4.941517 |
CNY | 0.592554 | 0.593580 |
HKD | 0.540322 | 0.544498 |
SGD | 3.273088 | 3.298512 |