Malaysia Market Review: The FBM KLCI staged a late turnaround to close 0.1% higher on Tuesday, as renewed buying in heavyweight consumer stocks helped offset earlier profit-taking activities. Market breadth was positive, with 520 gainers outpacing 434 losers. By sector, Consumer (+1.1%), Utilities (+1.0%), and Construction (+0.6%) led the gains, while Technology (-0.5%) and Telecommunication (-0.2%) were the main laggards
Global Markets Review: Wall Street extended its rally on Tuesday, with the Dow Jones (+0.4%), S&P 500 (+0.3%) and Nasdaq (+0.4%) all closing at fresh record highs. Investors largely looked past growth concerns, even as the Bureau of Labor Statistics reported that the U.S. economy had added 911,000 fewer jobs in the twelve months through March 2025 than previously estimated, reinforcing expectations of a more aggressive Fed easing cycle. In Europe, equities ended broadly steady despite political uncertainty in France. Asian markets ended mixed, with Japan’s Nikkei 225 (-0.4%) and China’s Shanghai Composite (-0.5%) retreating, while Hong Kong’s Hang Seng Index (+1.2%) and Singapore’s Straits Times Index advanced.
Market Outlook. In the near term, investors will be watching a slew of economic data, particularly this week’s PPI and CPI releases, which will be pivotal for the Fed’s policy decision next week. Futures currently price in a 25-bp rate cut, with a larger 50-bp move still on the table. Domestically, the FBM KLCI could track positive regional momentum, supported by easing global bond yields and expectations of Fed easing. While near-term volatility is likely, we expect healthy buying interest to provide underlying support for the local bourse.
Sector focus. We favour selective consumer, construction, technology and renewable energy counters, which stand to benefit from pre-Budget 2026 positioning ahead of the tabling on 10 October. The Budget is expected to build on the foundations of earlier MADANI initiative, while structural drivers such as data centre expansion and the energy transition should provide additional medium-term support. We also expect trading interest to flow towards oil & gas stocks with Brent oil prices inching upwards following Israel’s attack on Hamas leadership in Qatar. The escalation may draw firmer response from Arab nations, which could further heighten geopolitical tensions and lend support to oil prices.
Technical Commentary: The FBM KLCI edged out a slight gain on Tuesday’s trading session. Indicators remained 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)
Property developer SkyWorld Development Bhd has signed a pact to buy land in Ho Chi Minh City, Vietnam, for about RM136 million. The 2.33-acre site is earmarked for a high-rise residential tower integrated with commercial and service facilities.
Econpile Holdings Bhd clarified that funds received by its subsidiary, Econpile (M) Sdn Bhd (EMSB), mentioned in the money laundering charges against Maju Expressway owner Tan Sri Abu Sahid Mohamed, were for the embattled Maju Kuala Lumpur project.
The MACC will forfeit RM12 million belonging to Sapura Energy Bhd, now known as Vantris Energy Bhd, that was allegedly misused by an undisclosed party back in 2018.
Citaglobal Bhd will develop an industrial park project in Pahang on its own after exercising an option to acquire the land for RM90 million in cash and irredeemable convertible preference shares from its JV partner.
Classita Holdings Bhd, soon to be NexG Bina Bhd, is selling non-core assets, including part of its long-standing lingerie business, to fund property projects, aligning with new major shareholder NexG Bhd’s focus on property and construction.
DXN Holdings Bhd said its proposed acquisition of an apartment unit at the Burj Khalifa skyscraper in Dubai is part of the multi-level marketing company's sales motivation scheme aimed at rewarding top-performing distributors.
CIMB Group Holdings Bhd announced that its CEO of CIMB Singapore and CEO of growth markets Victor Lee Meng Teck has resigned, effective immediately, to pursue other opportunities.
Cahya Mata Sarawak Bhd said state utility firm Syarikat Sesco Bhd has reconnected electricity supply to its phosphate plant in Samalaju Industrial Park, more than two years after the facility was cut off following a dispute over a power purchase agreement.
Perak Transit Bhd, the developer and operator of public transport terminals, is looking for a new recurring revenue stream with the upcoming launch of its smart bus stop project.
Bina Puri Holdings Bhd has signed a pact with Hanil Electric Group Co Ltd, paving the way for the contractor to build the South Korean firm’s planned factory in Sarawak.
Scicom (MSC) Bhd has entered into a partnership with Telekom Malaysia Bhd to jointly develop AI-enabled customer engagement solutions and digital service delivery platforms.
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.
Currency | Buy Rates (RM) | Sell Rates (RM) |
---|---|---|
USD | 4.187100 | 4.218318 |
EUR | 4.943772 | 4.948857 |
CNY | 0.590357 | 0.590955 |
HKD | 0.537774 | 0.541554 |
SGD | 3.271928 | 3.294989 |