Market Review & Outlook
Malaysia Market Review: The FBM KLCI eased for a second consecutive day on Friday, closing slightly lower (-0.04%). However, market breadth was broadly positive, with 575 gainers outpacing 483 losers. Sector-wise, Finance (-0.52%), Construction (-0.46%), Healthcare (-0.41%), Property (-0.40%) and Utilities (-0.39%) were the main drag, while Transportation (+1.75%), Technology (+0.89%) and Industrial Products (+0.85%) led gains. Foreigner investors were net buyers, while local institutions turned net sellers.
Global Markets Review: US equities ended higher on Friday, with the Dow (+0.37%), S&P 500 (+0.49%) and Nasdaq (+0.72%) all marking record closing highs for a second straight session. The small-cap Russell 2000, however, slipped 0.7%, giving back part of its recent gains after touching a new intraday high earlier in the session. Among movers, Apple rose 3.2% as its latest iPhone 17 went on global sale, while Tesla gained 2.2%. Overall, sentiment was buoyed by the Federal Reserve’s 25bps rate cut last week, which has helped sustain risk appetite. In Europe, major indices closed marginally lower, with the Stoxx 600 (-0.16%), UK’s FTSE 100 (-0.12%) and Germany’s DAX (-0.15%) all easing slightly. In Asia, Japan’s Nikkei 225 fell 0.57% after the Bank of Japan kept its policy rate unchanged at 0.5%.
Market Outlook. We maintain a constructive near-term stance on Malaysian equities, with sentiment likely to be shaped by a mix of domestic and external events. The local market is expected to trade positively today, tracking Wall Street’s strong close last Friday. On the local front, investors will be watching Malaysia’s August inflation data, due on 23 Sep, for potential monetary policy implications. Externally, attention will turn to Fed Chair Jerome Powell’s speech on 24 Sep, followed by US initial jobless claims on 25 Sep and core PCE inflation on 26 Sep, the key indicators for the US interest rate outlook. Looking ahead, focus will also build toward the tabling of Budget 2026 on 10 Oct, which may shape domestic policy expectations.
Sector focus. We believe the construction, consumer, and renewable energy sectors will be closely watched in the near term, supported by potential positive sentiment ahead of Budget 2026, which will be tabled on 10 Oct. Meanwhile, the healthcare sector may attract near-term interest after Sunway Healthcare Group officially filed its draft prospectus last Friday, which could lift sentiment toward healthcare names such as KPJ and IHH.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI formed another bearish candle to close above EMA9 level last Friday. Indicators remained mix, with the MACD Line ending the day below the Signal Line, while the RSI floated above 50. The next resistance is located at 1,630. Support is envisaged at around 1,570.
Company News (source: various)
Gamuda Bhd closed its financial year ended July 31, 2025 (FY2025) with a record net profit of RM1.003 billion, up 19% from RM912.13 million in FY2024.
Lianson Fleet Group Bhd, formerly Icon Offshore Bhd, is acquiring two South Korean-flagged Supramax bulk carriers from HMM Co Ltd for US$27.48 million (RM115.05 million).
The Employees Provident Fund (EPF) has emerged as a substantial shareholder in Johor-based bakery company SDS Group Bhd for the first time, after raising its stake to 5.11%.
Sime Darby Property Bhd is exploring more opportunities beyond its core property development, investment and management businesses, building on its recent move into data centres and continued expansion into commercial and industrial properties.
Pharmaniaga Bhd is acquiring a freehold factory and office building in Seberang Perai Selatan, Penang, for RM30 million to expand its logistics and distribution capacity in northern Peninsular Malaysia.
SC Estate Builder Bhd, via its unit SC Estate Energy, has entered a JV with Vanguard North to develop four parcels of land in Kedah into a RM663.36 million project.
EWI Capital Bhd, formerly known as Eco World International Bhd, recorded a total of RM170 million in sales and sales reserves for the 10 months ended Aug 31, 2025.
Solarvest Holdings Bhd said Bursa Malaysia has approved its request to suspend trading of its shares today (Sept 22), pending the release of a material announcement.
Practice Note 17 (PN17) company KNM Group Bhd has secured an interim order from the Court of Appeal restraining all existing and future legal actions against the group, pending disposal of its main appeal fixed for hearing in May next year.
Property developer Meridian Bhd, which has a market value of about RM5.9 million, has secured a RM40.5 million contract from Kejora Harta Bhd to build a government-backed civil servants’ housing project in Kuala Muda, Kedah.
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Currency | Buy Rates (RM) | Sell Rates (RM) |
---|---|---|
USD | 4.212894 | 4.246402 |
EUR | 4.925348 | 4.934954 |
CNY | 0.592662 | 0.593823 |
HKD | 0.542079 | 0.546393 |
SGD | 3.250847 | 3.276896 |