Malaysia Market Review: The FBM KLCI (+0.07%) inched higher after recouping all its intraday losses as the key index ticked into the positive territory in the final trading hour yesterday. The lower liners also remained upbeat amid the positive market breadth. Meanwhile the Energy sector (+3.1%) led the mostly positive sectorial peers.
Global Markets Review: Once again, Wall Street closed mixed as the Dow (-0.2%) took another step back, but the S&P 500 (+0.1%) and Nasdaq (+0.6%) advanced with chipmakers such as Super Micro Computer and Advanced Micro Devices surged. European markets took a step back to snap a four-day winning run, while Asian markets finished mostly higher with investors continue to digest US-China trade negotiations.
Market Outlook: Equity markets continue to ride onto the easing trade tensions between the two global economic superpowers. Markets are now pricing in a better outlook as investors turn less bearish onto risky assets. Still, we believe much of the gains have been priced into the investors may turn their heads back towards fundamental prospects. For now, we expect the FBM KLCI may experience mild profit taking activities from the recent three-sessions of gains. Meanwhile, the lower liners may also brace for a potential pullback as investors could lock in recent gains and re-assess the current market dynamics. Economic wise, key focus will be directed towards US Producer Price Index and Retail Sales data later tonight.
Sector focus. We expect the Technology sector may attempt to march higher, taking cue from the positive developments on Nasdaq overnight. With crude oil prices staging a pullback amid the unexpected rise in US crude oil inventory levels, we expect the energy sector may experience profit taking activities.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI has formed a dragonfly doji to inch marginally higher as the key index is now a hair away from the SMA200 level. Indicators remained positive with the MACD Line hovered above the Signal Line, while the RSI steadied above 50. Resumption of recovery remains largely on track. Technically, the immediate resistance is located at 1,600. Support is envisaged around 1,530.
Company News
Vstecs Bhd, which saw its net profit rise 24% to RM17.7 mil in the first quarter ended March 31 (1Q25), is optimistic about sustaining this growth trajectory through the second quarter and the rest of the year.
MN Holdings Bhd’s wholly owned subsidiary, Mutu Nusantara Sdn Bhd, has secured a RM37.9mil contract from a customer providing civil engineering and electrical works.
Sunway Real Estate Investment Trust reported a 20.4% year-on-year increase in its net property income to RM157.19 million in the first quarter ended March 31, 2025 (1QFY2025), from RM130.54 million in the same quarter last year, thanks to contribution from asset acquisitions made in 2024.
Steel Hawk Bhd is confident of further growth after its first quarter net profit more than doubled year on year, driven by stronger revenue as it received new work orders from Petroliam Nasional Bhd (Petronas) from recently awarded contracts after its net profit for 1QFY2025 jumped to RM8.17 million from RM3.23 million in 1QFY2024, as revenue surged to RM52.48 million from RM19.74 million.
AwanBiru Technology Bhd has received the full and final RM201.45 million settlement from the government, ending a seven-year dispute over the cancelled RM3.5 billion National Immigration Control System (SKIN) project.
BCM Alliance Bhd is divesting its commercial laundry business to its former executive director Ho Kee Wee for RM18 million in cash.
Keyfield International Bhd and Indonesia's PT Elnusa Trans Samudera (ETSA) are exploring marine services opportunities in the region’s O&G sector.
MCE Holdings Bhd’s unit will partner with China’s Cheling Smart Mobility Technology and Wuhu Atech Automotive Electronics to support Chery Malaysia’s local production, focusing on automotive parts, technology transfer, and quality standards, with potential joint investments in tooling or facilities.
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| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.212873 | 4.242189 |
| EUR | 4.897826 | 4.902686 |
| CNY | 0.592887 | 0.593476 |
| HKD | 0.542019 | 0.545828 |
| SGD | 3.241283 | 3.264073 |