Market Review & Outlook
Malaysia Market Review: The FBM KLCI traded higher today, tracking positive regional performance after the Trump administration confirmed upcoming trade discussions with Chinese counterparts aimed at easing trade tensions. Lower liners also ended higher, with all sectors closing in the green, led by Construction (+2.31%) and Telecom (+1.73%).
Global Markets Review: Wall Street closed higher after a volatile session, as the Fed held interest rates unchanged and the Trump administration signalled a potential lift on AI diffusion restrictions. In contrast, European markets ended lower ahead of the FOMC statement, as investors shifted focus to corporate earnings and the Fed’s rate outlook. Meanwhile, Asian markets mostly closed higher, supported by optimism over US-China trade talks and China’s plans to cut interest rates.
Market Outlook: The potential lifting of AI diffusion rules is likely to boost sentiment on the local bourse today. However, the Fed’s cautious stance amid rising inflation risks and slower US growth prospects, coupled with Trump’s comments on maintaining tariffs on China until trade discussions progress, may temper investor optimism. Nonetheless, the local market stands to benefit from ongoing foreign fund inflows and the strengthening MYR.
Sector focus. We expect Technology and Construction sectors to attract buying interest today, as the potential lifting of AI diffusion restrictions could reignite interest of investors into local data center developments and broader tech infrastructure projects.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI formed a bullish candle to recouped all its previous two session of losses. Indicators remained positive with the MACD Line hovered above the Signal Line, while the RSI steadied above 50. Resumption of recovery is largely on track. Technically, the immediate resistance is located at 1,570. Support is envisaged around 1,520.
Company News
SD Guthrie Bhd, the world’s largest palm oil producer by acreage, saw its net profit more than double to RM567 million in the first quarter ended March 31, 2025 (1QFY2025), from RM211 million a year ago, driven by stronger performance at its upstream segment, which offset lower profits from the downstream segment.
Pharmaniaga Bhd’s net profit for 1QFY2025 increased 15.3% to RM29.58 million from RM25.65 million a year ago, thanks to higher sales and cost optimisation efforts.
I-Bhd's net profit more than doubled to RM9.96 million in 1QFY2025 from RM4.07 million a year ago, driven by higher contributions from its property development and property investment segments.
Capital A Bhd shareholders have given the green light to the company's regularisation plan following an EGM, in a bid to regularise its financial condition after being classified as a Practice Note 17 (PN17) company for over three years.
Sarawak Cable Bhd is planning to take legal action against the appointed liquidators of its unit, Leader Cable Industry Bhd (LCIB), alleging wilful negligence and misconduct in how LCIB's assets may be disposed of.
Kumpulan Jetson Bhd said its shareholders’ requisition dated April 23, 2025 to convene an extraordinary general meeting (EGM) will be put on hold, pending the outcome of a legal suit filed by three minority shareholders challenging the validity of the notice.
Pavilion Real Estate Investment Trust has received its unitholders’ approval to acquire two hospitality assets, namely Banyan Tree Kuala Lumpur (BTKL) and Pavilion Hotel Kuala Lumpur (PHKL), for RM480 million.
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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.
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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 |