Market Review & Outlook
Malaysia Market Review: The FBM KLCI rose 0.15% on last Friday, extending its rally on the back of improved broad market sentiment and sustained net foreign inflows. Lower liners also ended higher, with all sectors closing in the green, led by Technology (+3.57%) and Construction (+2.94%) sectors.
Global Markets Review: Wall Street advanced further on last Friday, buoyed by strong jobs data that pointed to a resilient US economy and optimism over potential progress in US-China trade talks. Similarly, Asian and European markets closed higher, lifted by hopes of a de-escalation in trade tensions between the US and China.
Market Outlook: We maintain a positive view on the local market today, underpinned by the persistent return of foreign fund inflows and improving market sentiment on expectations of a possible easing in US-China trade tensions, previously inflamed by Trump-era tariffs. However, we caution that vulnerabilities remain, especially ahead of a formal agreement between the US and China and greater clarity on Trump’s stance regarding reciprocal tariffs. Additionally, investors will be closely watching the upcoming FOMC statement later this week for insights into the Fed’s policy direction.
Sector focus. We continue to favour the Technology and Construction sectors, supported by the positive spillover from Wall Street and their status as key foreign interest areas on the local exchange. Meanwhile, the Oil & Gas sector may experience volatility amid the slump in international oil prices, stemming from OPEC+ production hike talks and developments from PM Anwar’s discussions with Sarawak to ease the Petronas-Petros dispute.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI inched marginally higher as the key index strengthened its position above the SMA50 level. Indicators remained positive with the MACD Line hovered above the Signal Line, while the RSI steadied above 50. The recovery trend remains intact as the key index looks to build onto recent gains. Technically, the immediate resistance is located at 1,550. Support is envisaged around 1,500.
Company News (source: various)
CIMB Bank Bhd will buy 16 properties that it is currently leasing from the Employees Provident Fund Board (EPF) for RM209.81 million, cash.
Sunway Real Estate Investment Trust, partially owned by Sunway Bhd, announced the sale of Sunway University and college campus to Sunway Education Group’s Sunway College (KL) Sdn Bhd for RM613 million in cash.
PLB Engineering Bhd is selling five parcels of land in Tasik Gelugor, Penang, to a property developer for RM48 million in cash.
Capital A Bhd said its auditors gave an unqualified report on its 2024 accounts, but raised doubts about its ability to keep operating due to uncertainty over the sale of its stakes in AirAsia Aviation Group and AirAsia Bhd.
Genting Malaysia Bhd is going to gain full control of loss-making Empire Resorts Inc in a US$41 million (RM177 million) deal from the Lim family's Kien Huat Realty III Ltd, by acquiring the remaining 51% stake in Genting Empire Resorts LLC (GERL) that it does not own.
Jentayu Sustainables Bhdsaid it has re-designated chairman Datuk Beroz Nikmal Mirdin as managing director effective immediately as part of a management restructuring exercise.
MN Holdings Bhd said its joint venture (JV) with Protech Builders Sdn Bhd has secured a sub-contract worth RM49.99 million for the mechanical, electrical and plumbing fit-out works of a data centre
Exsim Hospitality Bhd, previously known as Pan Malaysia Holdings Bhd, said it has won an interior fit-out works contract worth RM17.2 million.
Ramssol Group Bhd saw its net profit rise 40% to RM5.84 million for the first quarter ended March 31, 2025 (1QFY2025), from RM4.17 million a year ago.
Farm Price Holdings Bhd has proposed to undertake a bonus issue of up to 225 million warrants, on the basis of one warrant for every two shares held by shareholders.
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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 |