Market Review & Outlook
Malaysia Market Review: The FBM KLCI finished flat (-0.07%) on Thursday to close at 1,598.47, with the broader market’s focus shifting to smaller-cap stocks as the FBM Small Cap and FBM ACE rose 0.68% and 1.75%, respectively. Market breadth was positive, with 594 advancers and 471 decliners. Sector-wise, Energy (+1.45%), Construction (+0.81%) and Plantation (+0.56%) were the main gainers, while Technology (-0.59%) and Transportation & Logistics were the main decliners. On the fund flow, local institutions extended their buying streak, while foreign investors remained net sellers.
Global Markets Review: Following a series of all-time highs, the US equity markets dropped for a third straight session with the Dow Jones down 0.38% as both S&P 500 and Nasdaq declined 0.5% as a stronger-than-economic data dented hopes for deep Fed rate cuts. As a result, this pushed treasury yields higher and kept a lid on tech stocks. Japan’s Nikkei rose 0.27% as investors scooped up laggards, betting on potential for further market gains. Sumitomo Metal Mining surged 11%, the biggest percentage gainer on the Nikkei. In Europe, the Stoxx 600 ended down by about 0.7%, while the U.K.'s FTSE 100 and Germany’s DAX closed down by 0.39% and 0.56%, respectively, weighed down by concerns about Trump’s administration's trade policy, and uncertainty about the outlook for the Fed’s interest rates.
Market Outlook. We expect the FBM KLCI to remain cautious today, tracking Wall Street’s consecutive decline. Regionally, risk appetite is likely to stay subdued ahead of upcoming US economic data with core PCE inflation reading due later today for clues on the Fed’s policy direction. Domestically, the lead-up to Budget 2026 on 10 Oct is expected to drive local sectoral interest and shape sentiment in specific thematic plays.
Sector focus. Malaysian equities are likely to trade with a more cautious tone today, with weakness in US tech stocks potentially weighing on the local technology sector. Meanwhile, interest may continue to gravitate towards construction, consumer, and renewable energy counters, underpinned by expectations of positive sentiment ahead of Budget 2026.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI closed marginally lower, hugging the short-term moving average. 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)
Fraser & Neave Holdings Bhd has proposed to dispose of its 50% equity interest in Vacaron Company Sdn Bhd, the owner of a 5.15-hectare leasehold land in Section 13, Petaling Jaya that has been earmarked for a mixed-use development, for about RM180 million to focus on growing its dairy farm business.
Kelington Group Bhd has secured a RM108 million contract for the design and construction of a smart warehouse in Penang.
Yinson Holdings Bhd's net profit for the second quarter ended July 31, 2025 (2QFY2026) halved to RM101 million from RM203 million a year earlier, weighed down by lower contributions from its engineering, procurement, construction, installation and commissioning segment and higher costs.
Astro Malaysia Holdings Bhd’s net profit for 2QFY2026 fell 70% to RM16.39 million compared to RM54.71 million in the same quarter last year, as subscription and advertising revenue declined, while costs rose.
Hiap Teck Venture Bhd’s net profit for the fourth quarter ended July 31, 2025 (4QFY2025) fell 59% to RM19.7 million versus RM47.6 million a year earlier, weighed down by lower selling prices, reduced sales volume and weaker contributions from its joint venture.
SEG International Bhd, which operates SEGi University & Colleges, has proposed a bonus issue of up to 610.94 million warrants, on the basis of one warrant for every two shares held by shareholders.
The takeover offer by NuEnergy Holdings Bhd's largest shareholder, Agrobulk Holdings Sdn Bhd, for the remaining shares in the company has turned unconditional, after its stake climbed above 50%.
Trading in Ireka Corp Bhd will be suspended from Oct 3, after the construction firm’s appeal for more time to submit its regularisation plan was dismissed by Bursa Securities.
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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 |