Malaysia Market Review: The FBM KLCI ended a three-day rally, slipping 0.5% to 1,582.85 on Thursday, weighed by ex-dividend adjustments in Maybank and profit-taking activity. Sector-wise, Technology (+1.6%) and REITs (+0.4%) led the gains, while Finance (-0.8%), Utilities (-0.5%) and Energy (-0.3%) were the main laggards.
Global Markets Review: Wall Street rallied on Thursday, with the Dow Jones (+1.4%), S&P 500 (+0.9%) and Nasdaq (+0.7%) all closing at fresh highs. Investors largely shrugged off the latest US CPI print, which showed inflation ticking up to +2.9% YoY in August (Jul: +2.7%), as expectations for a Fed rate cut next week remained intact. In Europe, equities advanced after the ECB left policy rates unchanged. Asian markets traded broadly higher, with Japan’s Nikkei 225 gaining 1.2%, China’s Shanghai Composite up 1.7%, and Singapore’s Straits Times Index rising 0.8%.
Market Outlook. With softer job data and only modest inflation gains, futures are fully pricing a 100% probability of a Fed rate cut at next week’s FOMC meeting. The key focus now shifts to the pace of easing beyond September. Mixed signals in recent US data might raise stagflation concerns, which could complicate the Fed’s policy path and add to market volatility. Domestically, we expect selective buying interest to return after Thursday’s pause, buoyed by Wall Street’s gains and pre-Budget 2026 positioning ahead of the tabling on 10 October. While the Fed easing cycle should support risk appetite, portfolio flows and liquidity, volatility is likely to remain elevated.
Sector focus. Technology is expected to stay in focus, lifted by the global AI-driven rally, with gains in US tech giants spilling over into regional tech sentiment. Gold-related counters should continue to draw support from Fed easing and safe-haven demand amid geopolitical and trade risks. Meanwhile, a firmer ringgit could benefit domestic-oriented sectors such as consumer staples, with upcoming Budget 2026 measures providing an added catalyst.
Technical Commentary: The FBM KLCI took a breather after closing lower in Thursday’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)
Gamuda Bhd said a consortium comprising its Singapore subsidiary and two other companies has submitted the highest bid of S$1.01 billion (about RM3.33 billion) in a tender for a mixed-use commercial and residential site in Singapore.
Power tool and industrial equipment maker Jasa Kita Bhd’s new main shareholders, Abd Azis Mohamad and his company Kintan Prima Sdn Bhd, have made an unconditional takeover offer at 38 sen per share for the remaining shares they don’t own.
The takeover offer for FACB Industries Incorporated Bhd at RM1.60 per share has been extended again to 5pm on Oct 10, from Sept 15.
Gas Malaysia Bhd said on Thursday it is planning to build two biomethane purification plants in Perak. Enproserve Group Bhd has been awarded a contract to build one of the purification plants in Air Kuning while privately-held MTC Orec Sdn Bhd will construct the other facility in Trong, according to a statement from Gas Malaysia.
Bermaz Auto Bhd reported an 88.21% drop in first-quarter profit and warned of a tough year ahead with competition from low-priced Chinese cars.
Convenience store operator MyNews Holdings Bhd expects its continued expansion to drive sustained growth for the group as it reported a more than doubling of its third-quarter net profit from a year ago, due to stronger sales and the opening of new stores.
Fire protection solutions provider Unique Fire Holdings Bhd, which recently transferred to the Main Market of Bursa Malaysia, is acquiring a land parcel measuring 4,926 square metres in Shah Alam for RM15.54 million, to support its expansion plans.
PT Resources Holdings Bhd said a fire had occurred at its coconut processing facility in Fuqing City, China on Monday (Sept 8). The incident did not cause any casualties or injuries to its staff, the frozen seafood producer said.
Classita Holdings Bhd, which is set to be renamed NexG Bina Bhd, clarified on Thursday that the proposed selling price for its 49% stake in its lingerie business is not fixed at RM34.1 million, contrary to earlier reports.
Al-Salam Real Estate Investment Trust has proposed the establishment of a sukuk programme worth up to RM3 billion in nominal value.
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Currency | Buy Rates (RM) | Sell Rates (RM) |
---|---|---|
USD | 4.205278 | 4.237675 |
EUR | 4.930003 | 4.933950 |
CNY | 0.592227 | 0.592702 |
HKD | 0.540051 | 0.543728 |
SGD | 3.273475 | 3.295837 |