Market Review & Outlook
Malaysia Market Review: The FBM KLCI ended lower by -0.7%, mirroring the weak performance across regional markets. Similar to lower liners, closed lower as sentiments was weighed down by escalating geopolitical tensions and Fed hawkish tone. Sector-wise, only REIT (+0.06%) sector manage to closed in positive territory, while Industrial (-1.21%) and Consumer sector (-1.03%) being the largest decliners.
Global Markets Review: Wall Street was closed for Juneteenth National Independence Day, following a marginally lower session on Wednesday after the Federal Reserve kept interest rates unchanged. European shares declined sharply, with the key index falling 0.83% marking its lowest close in over a month, driven by escalating Middle East tensions and react to BOE kept interest unchanged while Similarly to Asian stock market sentiment weigh down by Middle East tensions and hawkish tone of Fed.
Market Outlook: The Malaysian market is expected to open cautiously lower today, tracking weaker regional and global cues amid persistent geopolitical tensions and mixed economic signals. US stock futures declined following the Fed’s more cautious policy stances and weighs onto possible US intervention into the week-old Israel-Iran war. Geopolitical risks, particularly the Middle East tensions remain unresolved, continue to weigh on investor sentiment and keep commodity prices volatile. For economic wise, we are keeping a close tab onto US PMI, Fed chairman speech, US GDP and PCE price index on next week for investors to monitor better clues of US’s economy health and monetary policy stances.
Sector focus. With market is expected to remain range-bound and volatile, defensive sectors such as REITs, banks, and utilities remains in focus until clearer catalysts emerge. Energy sector could be also continued to remains favoured by investors amid ongoing geopolitical tensions in the Middle East. While the Consumer and Industrial sector could be continued to weigh on the broad SST hike implementation.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI formed a bearish engulfing candle after erasing all its intraday gains as the key index approaches the 1,500 psychological level. 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)
MSM Malaysia Holdings Bhd expects the 5% sales and service tax (SST) on raw sugar to pressure input costs, which could in turn push up prices of refined sugar for industrial buyers.
The country’s second waste-to-energy (WTE) plant, costing RM660 million, will be built in Sungai Udang, Melaka, and is expected to be fully operational by 2029 implemented through a public-private partnership approach including Malakoff Corporation Bhd.
Astro Malaysia Holdings Bhd said it will continue to invest in expanding its content offerings in lower subscription tiers and lowering entry pricing for Astro and its over-the-top platform sooka to grow its customer base, as it reported a 20.8% drop in its first quarter earnings.
Cuckoo International (MAL) Bhd, which is set to be listed on the Main Market of Bursa Malaysia on June 24, said its net profit for the first quarter ended March 31, 2025 came in at RM27.86 million.
Oriental Kopi Holdings Bhd has entered into an agreement to acquire the premises it currently rents as its head office and warehousing facility in Puchong, Selangor, for RM23 million.
Bank Islam Malaysia Bhd has secured a summary judgement against financially distressed Ivory Properties Group Bhd over unpaid loans totalling RM17.76 million.
Petron Malaysia Refining & Marketing Bhd said it has been sued by its former transportation services provider over alleged negligent misrepresentation.
Deleum Bhd has secured a five-year contract from Hess Exploration and Production Malaysia BV for maintenance services and material supply of solar gas turbine generators in the North Malay Basin.
Advancecon Holdings Bhd said the group has issued a notice of adjudication to China Communications Construction (ECRL) Sdn Bhd (CCC) over a payment dispute relating to the East Coast Rail Link (ECRL) project.
CTOS Digital Bhd has entered into a strategic partnership with Infomina Bhd, one of only four authorised service providers for Suruhanjaya Syarikat Malaysia (SSM) data, to gain access to real-time corporate data.
Theta Edge Bhd is forming a joint venture company (JVCo) with Agmo Holdings Bhd to accelerate the commercialisation of artificial intelligence (AI), blockchain and platform-based services, with an initial emphasis on public sector transformation.
Flexidynamic has signed two share sale agreements to acquire a 100 per cent stake in Formtech Engineering (M) Sdn Bhd, a glove former manufacturer based in Nilai, Negri Sembilan.
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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 |