Market Review & Outlook
Malaysia Market Review: The FBM KLCI advanced 0.5% last Friday, supported by buying interest in selected index heavyweights. The broader market performance was mixed, with weakness in lower liners. Sector wise, the Plantation sector (+1.1%) outperformed, while the Consumer sector (-0.6%) was the day’s worst performer.
Global Markets Review: The US markets closed higher on Friday, with the Dow (+0.5%) and S&P 500 (+0.8%) gaining, while the Nasdaq (+1.0%) notched a record high. The gains were led by the tech sector, buoyed by Apple’s rally after unveiling plans to invest about USD600bn in the US over four years. European markets also rose, led by banking stocks, as investors rotated into domestically focused names amid US tariff policy uncertainty. Sentiment was further supported by hopes of a potential Russia–Ukraine ceasefire, which eased geopolitical risk and brightened the regional outlook. Meanwhile, Asian equities were mixed. Nikkei 225 rallied after Japan’s trade envoy announced the US had agreed to resolve a tariff issue affecting Japanese exports, boosting sentiment toward exporters.
Market Outlook: The FBM KLCI continued its upward momentum, closing at 1,557.0, supported primarily by gains in the plantation sector amid firmer CPO prices and renewed government replanting incentives, as well as strength in banking stocks. Despite lingering caution among investors due to external headwinds such as US tariff developments and ongoing geopolitical risks, the local market demonstrated resilience. Notably, foreign net selling moderated over the week, signalling a potential shift in sentiment and providing some relief to the market. Looking ahead, investors will remain attentive to key external drivers, including upcoming US inflation rate on Tuesday, while domestically, corporate earnings announcements are expected to guide near-term direction.
Sector focus. The recent surge in gold prices, partly driven by new US tariffs on gold bars, may attract buying interests in gold-related counters. We also continue to see merit in selectively accumulating domestic-focused power ancillary and renewable energy players, which stand to benefit from structural growth drivers such as data centre expansion and the energy transition—trends we expect to remain resilient despite global trade uncertainties.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI extended its uptrend phase, edging closer toward the SMA200 level. Indicators remained positive, with the MACD Line ending the day above the Signal Line, while the RSI floated above 50. Immediate resistance is located at 1,570, followed by 1,580. Support is envisaged around 1,540.
Company News (source: various)
NexG Bhd, is buying a 32.6% stake and 414.3m warrants in Classita Holdings Bhd for RM76.8m, marking its entry into the property and construction sector.
Favelle Favco Bhd’s subsidiaries have secured six purchase orders worth RM77.6m to supply tower and offshore cranes, with four contracts are for offshore cranes, while the remaining two are for tower cranes to be delivered to various local and international clients.
Able Global Bhd’s executive chairman and substantial shareholder, Ng Keng Hoe, has been acquitted by the Shah Alam Sessions Court of abetment of dishonest misappropriation charges related to his private business.
Vestland Bhd’s subsidiary, Vestland Resources Sdn Bhd has secured a RM56.4m subcontract from Euro Saga Sdn Bhd, to build the Kelantan Palace project in Kota Bharu, with work starting Friday and targeted for completion by Aug 7, 2027.
PIE Industrial Bhd’s 2QFY2025 net profit fell 63.2% y-o-y to RM6.4m as revenue dipped 3.8% to RM231.0m, with no dividend declared. The company expects improved prospects for securing new orders from Vietnam and China after the US finalised a 19% tariff on imports from Malaysia.
Berjaya Assets Bhd has settled its suit over withdrawing from a 2016 deal to acquire the remaining 50% stake in Sarawak gaming firm Megaquest Sdn Bhd, with Tan Sri Vincent Tan agreeing to pay the full, undisclosed settlement sum.
Skywold Development Bhd, via its 70%-owned subsidiary Prefab Master (Penang) Sdn Bhd, is acquiring 26.4 acres of freehold land in Seberang Perai Tengah, Penang, for RM82.7m to build a factory for prefabricated and prefinished modular systems.
Sentoria Group Bhd’s 75%-owned subsidiary, Sentoria Langkawi Sdn Bhd has received a notice of termination from Affin Bank Bhd, demanding repayment of RM19.5m in outstanding dues from term loan facilities originally worth up to RM33.3 million.
Bina Puri Holdings Bhd, facing multiple winding-up petitions, has sought assistance from the Corporate Debt Restructuring Committee to mediate with its lenders as part of efforts to restore its financial position and address its liabilities.
Mieco Chipboard Bhd is expanding into the biomass fuel market through a five-year partnership with South Korea’s K-One Corporation to supply 160,000–200,000 metric tonnes of wood pellets annually, targeting markets in South Korea, Japan, and other agreed destinations.
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Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.
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Currency | Buy Rates (RM) | Sell Rates (RM) |
---|---|---|
USD | 4.202015 | 4.235318 |
EUR | 4.910409 | 4.915416 |
CNY | 0.591633 | 0.592086 |
HKD | 0.539313 | 0.543090 |
SGD | 3.271821 | 3.294958 |