Market Review & Outlook
Malaysia Market Review: The FBM KLCI ended higher for a fourth consecutive session, rising 0.6% on Tuesday, driven by renewed interest from foreign investors and improving domestic macroeconomic indicators. Meanwhile, lower liners also closed higher, in line with the broader market. Sector-wise, the Property (+2.6%), Construction (+2.5%) and Utilities (+1.6%) sectors led the gainers, while the Healthcare (-0.4%) and Financial Services (-0.3%) sectors were the main laggards.
Global Markets Review: Wall Street closed mixed on Tuesday, with S&P 500 (-0.1%) and Nasdaq (-0.8%) closed lower, dragged by weakness in large-cap technology stocks. In contrast, the Dow climbed (+0.6%) as investors rotated out of technology stocks to kick off the second half of 2025. In Europe, shares ended slightly lower, with industrials and banks the biggest drags as investors weighed uncertainty over US trade deals with the July 9 tariff deadline fast approaching. Meanwhile, Asian markets closed mixed on Tuesday, as investors assessed the record gains on Wall Street and the impact of US President Donald Trump’s tariff policies as his 90-day tariff reprieve is set to expire next week. Japan’s Nikkei 225 fell 1.2%, while Korea’s Kospi index closed 0.6% higher. At China, Shanghai Composite closed 0.4% higher following stronger-than-expected PMI data.
Market Outlook: Market sentiment has improved in recent days, as reflected by increased trading volumes and broader market participation as well as signs on return of foreign funds. This upturn follows a de-escalation of tensions in the Middle East and the optimism from US-China trade truce. With the US-China trade truce announced well ahead of the 90-day tariff postponement deadline on 9 July, we expect bargain hunting and increased risk appetite to persist in the near term. This week, investors focus will turn to a slew of PMI releases and the closely watched US jobs report due on Thursday.
Sector focus. Amid rising investor risk appetite, we expect the Utilities and Construction sectors to remain attractive. In light of global trade uncertainties, we also favour domestically-focused blue-chip stocks.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI formed a bullish engulfing candle after recovering all its intraday losses to close at 4-week high yesterday. Indicators remained positive with the MACD Line hovered above the Signal Line, while the RSI floats above 50. Immediate resistance is located at 1,550, followed by 1,570. Support is envisaged around 1,500.
Company News (source: various)
Gamuda Bhd has signed an agreement with the Downie family to co-develop a portfolio of large-scale renewable energy projects in Central Tasmania, Australia.
Genting Bhd's 49%-owned unit SDIC Genting Meizhou Wan Electric Power Company Ltd has handed over a 786MW coal-fired power plant in Fujian, China, to the local government following the expiry of the 21.5-year power purchase agreement (PPA).
Yinson Holdings Bhd’s floating production, storage and offloading (FPSO) unit Yinson Bergenia Production BV has successfully placed US$1.168 billion (RM4.9 billion) in senior secured notes, marking the largest and longest-dated FPSO project bond ever.
Velesto Energy Bhd has secured a drilling contract valued at an estimated US$40 million (about RM188 million).
Avangaad Bhd has secured tugboat contracts from Northport (Malaysia) Bhd, with a combined contract value of RM66.8 million.
Lianson Fleet Group Bhd, formerly known as Icon Offshore Bhd, has proposed to dispose of a vessel to a Liberia-based firm for RM32.02 million in cash.
Kerjaya Prospek Group Bhd has announced two property moves — a RM112.8 million acquisition of land in Kuala Lumpur and the formation of a joint venture (JV) for a mixed-use development in Penang.
Avaland Bhd plans to acquire a 2.17-acre plot of land in Section 13, Petaling Jaya, to undertake a high-rise commercial development with an estimated gross development value of RM320 million.
Samaiden Group Bhd has proposed to acquire 185.57 hectares of land in Teluk Intan, Perak for RM45.5 million in cash, to develop a utility-scale solar farm.
Suria Capital Holdings Bhd said one of its directors has been charged with giving or offering a bribe to influence someone's actions in their job, under Section 16(a)(A) of the Malaysian Anti-Corruption Commission Act 2009.
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Currency | Buy Rates (RM) | Sell Rates (RM) |
---|---|---|
USD | 4.183060 | 4.216312 |
EUR | 4.958391 | 4.963526 |
CNY | 0.586424 | 0.587025 |
HKD | 0.533038 | 0.536820 |
SGD | 3.293088 | 3.316333 |