Market Review & Outlook
Malaysia Market Review: The FBM KLCI (-0.13%) ended marginally softer yesterday, snapping its gains as profit-taking activities emerged in heavyweights. Broader market sentiment stayed guarded ahead of policy signals from the US Federal Reserve’s Jackson Hole Symposium later this week. Lower liners also closed in the red in line with the broader market. Sector-wise, industrials (+1.01%) topped the gains, while utilities (-1.21%) was the worst performer.
Global Markets Review: Wall Street ended lower on Wednesday, with the S&P 500 (-0.24%) falling for a fourth consecutive session and the Nasdaq (-0.67%) retreating for back-to-back losses, while the Dow edged marginally higher (+0.04%). The weakness was pressured by a broad decline in technology shares, as investors digested mixed retail earnings and the release of the Federal Reserve’s latest meeting minutes. Profit-taking in heavyweight tech and semiconductor names persisted, raising concerns over stretched valuations and the durability of the AI trade. In Europe, the STOXX 600 gained (+0.23%), marking its strongest finish in over five months, supported by gains in consumer and healthcare stocks. However, declines in technology and defence counters capped broader market upside, as investors turned cautious ahead of the upcoming Jackson Hole symposium. Asian markets ended mixed, with Japan’s Nikkei 225 (-1.51%) retreating after official data showed exports suffered their steepest drop in over four years, pressured by US tariffs. South Korea’s Kospi (-0.68%) also declined, while China’s Shanghai Composite (+1.04%) rose.
Market Outlook: Markets are likely to trade sideways with a defensive bias in the near term ahead of the Jackson Hole Symposium. Investors will focus on guidance from central bankers at Jackson Hole, where rate-cut expectations are being repriced, alongside ongoing geopolitical trade risks. Asian markets remain vulnerable to export-linked volatility, while Malaysia is likely to mirror this cautious stance, with selective opportunities in defensive and domestic-oriented sectors.
Sector focus. We maintain a constructive view on selective domestic power ancillary and renewable energy names, underpinned by structural growth drivers including accelerating data centre expansion and the ongoing energy transition. These themes are expected to remain resilient despite prevailing global trade headwinds.
FBMKLCI Technical Outlook
Technical Commentary: FBM KLCI pared previous sessions’ gains after failing to test the 1,600 resistance trendline. 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 1,600, followed by 1,640. Support is envisaged at around 1,550.
Company News (source: various)
SD Guthrie Bhd and Gamuda Bhd have signed an agreement to develop solar energy assets targeting up to 1.2 gigawatt of accumulated capacity.
CelcomDigi Bhd said its chief executive officer Datuk Idham Nawawi will leave at the end of August after deciding not to renew his contract over "personal reasons".
S P Setia Bhd’s net profit for the second quarter ended June 30, 2025 (2QFY2025) fell 66.2% year-on-year (y-o-y) to RM99.8 million from RM295.03 million in 2QFY2024, mainly due to lower contributions from land sales by RM407 million, as well as reduced revenue from projects in Australia and Vietnam following substantial handovers of completed developments in 2024.
Dialog Group Bhd’s net profit for the fourth quarter ended June 30, 2025 (4QFY25) rose 6.5% y-o-y to RM147.38 million from RM138.42 million in 4QFY24, driven by improved contributions from its JVs and associates, along with better performance in midstream and downstream operations.
Petron Malaysia Refining & Marketing Bhd’s 2QFY25 net profit more than tripled y-o-y to RM41 million from RM13 million in 2QFY24, due to continued optimisation of Port Dickson refinery.
Paramount Corp Bhd’s net profit for 2QFY25 dropped to RM21.77 million from RM24.23 million in 2QFY24, though revenue remained largely flat at RM232.54 million.
TSH Resources Bhd’s net profit for 2QFY2025 more than doubled y-o-y to RM49.23 million from RM20.63 million in 2QFY2024, on the back of higher palm product prices and the absence of a one-off depreciation adjustment booked a year ago.
Berjaya Assets Bhd’s net loss for 4QFY2025 narrowed to RM1.71 million from RM17.35 million in 4QFY2024 on accounting gains and revenue growth.
Apex Healthcare Bhd’s net profit for 2QFY25 fell 20.4% y-o-y to RM18.82 million from RM23.64 million in 2QFY24, dragged by losses from its 40%-owned associate Straits Apex Group Sdn Bhd.
JCY International Bhd fell into the red in the third quarter ended June 30, 2025 (3QFY2025) with a net loss of RM33.4 million, versus a net profit of RM9.89 million in 3QFY2024, as revenue dropped 33.23% y-o-y to RM110.39 million from RM165.32 million.
Cahya Mata Sarawak Bhd slipped into the red in 2QFY2025 with a net loss of RM11.32 million, compared with a net profit of RM33.37 million in 2QFY2024, due to foreign exchange losses.
Manulife Holdings Bhd’s net profit for 2QFY2025 more than doubled to RM43.14 million, from RM19.24 million in 2QFY2024, helped by better contributions from its life insurance business.
Solarvest Holdings Bhd’s net profit for the first quarter ended June 30, 2025 (1QFY2025) more than doubled to RM15.88 million from RM7.84 million in 1QFY2024, on the back of ongoing progress in its utility-scale solar projects under the Corporate Green Power Programme (CGPP).
AMMB Holdings Bhd aims to beat its RM2 billion net profit record made in FY25, despite lower net interest margins from the OPR cut, supported by cost control and a strong first quarter.
Eastern & Oriental Bhd has signed a deal to sell two adjoining freehold land parcels in London, covering 1.329 acres, to Varsity Capital 1 Propco Ltd for at least £75 million (RM427.8 million) and up to £90.54 million (RM515.8 million).
Lianson Fleet Group Bhd’s has entered into a memorandum of agreement to acquire a vessel, MV Moana BAQ, for US$13.25 million (RM55.95 million) cash.
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Currency | Buy Rates (RM) | Sell Rates (RM) |
---|---|---|
USD | 4.209019 | 4.241387 |
EUR | 4.930101 | 4.933938 |
CNY | 0.592333 | 0.592792 |
HKD | 0.540178 | 0.543866 |
SGD | 3.276713 | 3.298990 |