Market Review & Outlook
Malaysia Market Review: The FBM KLCI closed slightly higher, up 0.12%, showing modest strength despite recent volatility, in line with regional stock market performance. However, lower liners extended their pullback, reflecting cautious investor sentiment amid ongoing geopolitical tensions and global economic uncertainties. Sector wise, commodity-driven sectors led the gains, with Energy rising 1.54% and Plantation up 1.79%, while Healthcare (-1.94%) and Technology (-1.20%) were the largest decliners.
Global Markets Review: Wall Street rebounded overnight, with all three major indices closing in positive territory following the sharp selloff triggered by escalating Israel-Iran tensions earlier last week. The recovery was driven by investor optimism over a potential de-escalation of the Middle East conflict. European and Asian markets also advanced, reflecting a broad-based recovery in global equities.
Market Outlook: The outlook for the Malaysian market today is cautiously optimistic, supported by the positive close on Wall Street overnight and easing oil prices. However, volatility is expected to persist as investors navigate a complex mix of global and domestic factors. Market participants will closely monitor key global events, especially the FOMC meeting later today. While interest rates are widely expected to remain unchanged, attention will focus on whether the Fed signals future rate cuts amid softer U.S. inflation and signs of a cooling economy. Other important economic data, including U.S. jobs reports, are scheduled for later this week.
Sector focus. Investors are advised to maintain a defensive stance, favoring sectors such as REITs, banks, and utilities as volatility persists. The Energy sector may experience some profit-taking after two days of gains, following the recent easing of oil prices. Meanwhile, the Healthcare sector could face selling pressure due to reports of a 5% tax on glove manufacturing raw materials, which is expected to further pressure glove makers’ margins.
Technical Commentary: The FBM KLCI formed a hammer candle as the key index firmed up its position above the 1,500 psychological level yesterday. Indicators remained negative as MACD Line hovered below the Signal Line, while the RSI lingered below 50. Immediate resistance is located at 1,550, followed by 1,600. Support is envisaged around 1,500.
Company News (source: various)
CIMB Group Holdings Bhd has named former head of the Securities Commission Malaysia, Datuk Syed Zaid Albar, as its new group chairman, succeeding Tan Sri Mohd Nasir Ahmad, who is retiring on July 19.
Solarvest Holdings Bhd via a joint venture company, secured a 25-year power purchase agreement with the government of Brunei to invest in, build and operate a 30MWac solar photovoltaic power plant, which will be the largest such plant in Brunei upon its completion by end-2026.
Berjaya Land Bhd via its wholly-owned subsidiary Berjaya Greenland Invest A/S, has signed a memorandum of understanding with Sweden-based SIBS Sdn Bhd to deliver climate-resilient modular housing in Greenland with a gross development value of RM170 million.
Deleum Bhd through its indirect unit Deleum Oilfield Solutions (Thailand) Co Ltd, is buying Thailand-based MPC Future Co Ltd's oilfield service assets and business for RM60 million — through a combination of cash and share issuance in a subsidiary — to expand its portfolio and services offering in Thailand.
Poh Kong Holdings Bhd’s net profit for the third quarter ended April 30, 2025 came in almost unchanged at RM47.60 million compared to RM47.65 million a year ago, although revenue hit a record high of RM533.93 million as gold prices surged.
Sersol Bhd said on Monday that its executive director Datuk Mohamed Suffian Awang has reemerged as the company’s largest shareholder, after acquiring a 13.671% stake in the Johor-based industrial paint manufacturer.
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Currency | Buy Rates (RM) | Sell Rates (RM) |
---|---|---|
USD | 4.242627 | 4.276241 |
EUR | 4.884548 | 4.889422 |
CNY | 0.591951 | 0.592547 |
HKD | 0.540519 | 0.544318 |
SGD | 3.295527 | 3.318850 |