Opening Daily Highlight
Mixed
Cautious Sentiment Over Weak US Jobs Data
Mon, 08-Sep-2025 07:41 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI was little changed on Thursday, falling marginally by 0.02% to close at 1,578.2, following BNM’s decision to keep the OPR unchanged at 2.75% with a broadly neutral tone. Trading activity was subdued ahead of the long weekend, with market breadth negative as 545 decliners outpaced 392 advancers. Sector-wise, losses were led by Healthcare (-1.6%) and Energy (-0.8%), while Finance (+0.2%) and Telecommunications & Media (+0.1%) managed to eke out modest gains.

 

Global Markets Review: Wall Street closed lower on Friday, with the S&P 500 retreating from record highs (-0.32%), while the Dow (-0.48%) and Nasdaq (-0.03%) also slipped. Sentiment weakened after the U.S. nonfarm payrolls rose by only 22,000 in August, far short of expectations of 75,000, raising concerns over slowing economic momentum. Markets have now fully priced in a 25-bp Fed rate cut in September, with a larger 50-bp move also on the table. In Europe, stocks also declined as investors digested the softer U.S. labour market data alongside ongoing political uncertainty in France, where the prime minister will face a vote of confidence on Monday. Asian equities bucked the trend, with Japan’s Nikkei 225, Hong Kong’s Hang Seng Index, and China’s Shanghai Composite posting gains, lifted by expectations of steeper Fed rate cuts.

 

Market Outlook. We expect cautious sentiment to prevail in Malaysia’s FBM KLCI, mirroring the short-term volatility on Wall Street. Investor focus this week will be on the U.S. inflation print for August on Thursday, which could prove pivotal. A softer outcome may cement expectations of more aggressive Fed easing, while an upside surprise could revive stagflation concerns. Domestically, trading is likely to stay range-bound in the absence of fresh catalysts, though expectations of deeper Fed cuts may lend support to the ringgit and spur foreign inflows.

 

Sector focus. We remain positive on selective domestic construction, power ancillary, and renewable energy counters, with structural support from the rapid expansion of data centres and the ongoing energy transition. At the same time, we see further upside in Utilities and Renewable Energy, where reforms and supportive policy initiatives are set to drive steady growth in the power segment. These structural themes should offer resilience against global trade headwinds.   

 

FBMKLCI Technical Outlook

Technical Commentary: The FBM KLCI formed a bearish candle on Thursday, closing slightly lower than the previous day. Indicators turned mix, with the MACD Line ending the day below the Signal Line, while the RSI floated above 50. Immediate resistance is located at 1,610. Support is envisaged at around 1,550.

 

Company News (source: various)

Citaglobal Bhd and two other firms has emerged as the latest shortlisted bidder under the government’s new large-scale solar (LSS5+) tender for the development of a 200-megawatt (MW) floating solar photovoltaic plant at the Chereh Dam in Kuantan.         

 

JAKS Resources Bhd’s wholly-owned subsidiary JAKS Solar Power Holdings Sdn Bhd and China Power Engineering Consulting Group International Engineering Co Ltd (CPEEC) will develop two large-scale solar (LSS) plants in Terengganu. 

 

Property developer Eastern & Oriental Bhd has secured RM780 million in financing facilities from AmBank Group to fund the ongoing development of Phase 2 of Andaman Island.

 

WTK Holdings Bhd has proposed an all-cash deal to acquire plantation and palm oil mill businesses for a total of RM555 million from its major shareholder.

 

Pentamaster Corp Bhd has invested US$3 million (RM12.69 million) for a 14.29% stake in Ahead Optoelectronics (Malaysia) Sdn Bhd to expand into opto-electronics and silicon photonics — technologies that combine light and electronics to create faster, more powerful devices.

 

Axis Real Estate Investment Trust is acquiring an industrial property in Port Klang for RM50 million from Barry Callebaut Malaysia Sdn Bhd. 

 

Gamuda Bhd is partnering with Taylor's Education Group to redevelop a prime commercial site in SS15, Subang Jaya. 

 

DXN Holdings Bhd, a multi-level marketing company specialising in health and wellness products, is buying an apartment in Dubai's iconic Burj Khalifa for 6.4 million dhirhams (RM7.37 million) in cash. 

 

IOI Properties Group Bhd’s wholly-owned subsidiary Fortune Premiere Sdn Bhd has completed its seventh issuance of sukuk murabahah amounting to RM1 billion in nominal value under its existing multi-currency Islamic medium-term note programme of up to RM3 billion.

 

Ranhill Utilities Bhd has redesignated non-independent director Datuk Faiz Ishak as its chairman, filling the post that has been left vacant for a year since the resignation of founder Tan Sri Hamdan Mohamad in August 2024.

 

Khazanah Nasional Bhd has ceased to be a substantial shareholder of Farm Fresh Bhd after disposing of 65 million shares, trimming its stake in the Johor-based dairy producer from 6.49% to 3.02%. 

Sentiment: Negative
Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

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.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.214000 4.246402
EUR 4.933065 4.941517
CNY 0.592554 0.593580
HKD 0.540322 0.544498
SGD 3.273088 3.298512