Opening Daily Highlight
Mixed
Momentum still fragile
Fri, 08-Aug-2025 07:50 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI rose 0.5%, extending gains for a second straight session, supported by buying interest in selected index heavyweights. The broader market was mixed, with lower liners showing a lack of clear direction. Sector wise, the Utilities sector (+0.6%) outperformed, driven by selective interest in defensive names amid the cautious trading tone.

 

Global Markets Review: US markets closed mixed yesterday as reciprocal tariffs took effect, dragging the Dow (-0.5%) and S&P 500 (-0.1%) lower, while the Nasdaq (+0.3%) outperformed on tech gains, underscoring sustained investor appetite for technology and AI leaders despite trade uncertainties. European markets advanced after the announcement that US President Donald Trump and Russian President Vladimir Putin are set to meet in the coming days, raising hopes for de-escalation and improved geopolitical stability in the region. Meanwhile, Asian equity markets rallied on the back of encouraging Chinese export data, which rose 7.2% in July, beating expectations of 5.4%.

 

Market Outlook: On the global stage, sentiment remains jittery as volatile sessions on Wall Street reflect lingering concerns over a potential economic slowdown and persistent tariff tensions. Back to the local bourse, the market is expected to mirror Wall Street’s overnight weakness, with profit-taking likely to resurface. Meanwhile, lower liners are expected to stay subdued amid weak trading sentiment. We continue to advocate investors to remain defensive and stay on the sidelines in light of ongoing global headwinds, while awaiting clearer market direction. Domestically, focus will be on the ongoing quarterly results season and Malaysia’s retail sales data due later today.

 

Sector focus. We anticipate gold related stocks will benefit from the increasing demand for safe-haven bullion as price strengthens above USD 3,300/oz. In contrast, bargain hunting may emerge in the Energy sector, supported by a rebound in crude oil prices. The anticipated implementation of US secondary sanctions on Russia later this week could further tighten global supply expectations and lend support to upstream O&G counters.

 

FBMKLCI Technical Outlook

 

Technical Commentary: The FBM KLCI extended its recovery phase, edging closer toward the SMA200 level as the key index extended its upward momentum. Indicators turned positive, with the MACD Line ending the day above the Signal Line, while the RSI floated above 50. Immediate resistance is located at 1,550, followed by 1,580. Support is envisaged around 1,511.

 

Company News (source: various)

SD Guthrie Bhd’s net profit grew 21.7% year-on-year (y-o-y) in the second quarter ended June 30, 2025 (2QFY2025) to RM505 million from RM415 million a year earlier, thanks to higher crude palm oil and palm kernel prices and output.

 

Mah Sing Group Bhd is buying the land upon which the Corus KLCC Hotel sits in Kuala Lumpur from Malayan United Industries Bhd for RM260 million. 

 

Sentral REIT’s net property income for 2QFY2025 slipped 2.5% y-o-y to RM36.97 million from RM37.91 million, mainly due to lower rental income from Menara Shell, coupled with accounting adjustments.

 

ITMAX System Bhd's 70%-owned subsidiary Selmax Sdn Bhd has secured a second intelligent parking contract in Selangor, this time to manage smart parking and enforcement for the Shah Alam City Council (MBSA).

 

Parkson Holdings Bhd’s 54.97%-owned Hong Kong Stock Exchange (HKEX)-listed unit, Parkson Retail Group Ltd (PRG), will end its long-standing retail tenancy at the China National Arts and Crafts Museum from Jan 1, 2026, following a lease termination agreement signed to cut losses and reduce financial strain.

 

Mayu Global Group Bhd and its subsidiaries Progerex Sdn Bhd and SMPC Industries Sdn Bhd have been approached by the Malaysian Anti-Corruption Commission as part of an ongoing investigation into alleged illegal smuggling of steel scrap materials. 

 

Ramssol Group Bhd has aborted its plan to dispose of a 40% stake in its wholly-owned subsidiary Rider Gate Sdn Bhd to Nasdaq-listed technology firm SAGTEC Global Ltd.

 

Annum Bhd is set to be delisted from the Main Market of Bursa Malaysia on August 12, after the renovation and agricultural-related product firm’s appeal for more time to submit its regularisation plan was dismissed by the bourse regulator.

 

Panda Eco System Bhd has signed an agreement with Chinese firm Tianjin Master Logistics Equipment Co Ltd to bring its automated warehousing and intelligent logistics technologies to Malaysia.

 

Atlan Holdings Bhd has appointed Kenanga Investment Bank Bhd’s former executive director and head of group equity business Datuk Lee Kok Khee as its new group CEO, effective immediately.

 

XOX Technology Bhd's executive chairman Chew Shin Yong has resigned from his position, effective immediately, citing “other work commitments”.

 

LYC Healthcare Bhd's external auditor Crowe Malaysia PLT has issued a disclaimer of opinion on the group’s audited financial statements for the financial year ended March 31, 2025 (FY2025).

Sentiment: Positive
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Market Mover
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EUR 4.946298 4.953651
CNY 0.592866 0.593738
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