Market Review & Outlook
Malaysia Market Review: The FBM KLCI (+0.19%) closed slightly higher as late buying in selected blue chips lifted the index to its intraday peak, although profit-taking persisted across several sectors. Market breadth was negative, with 405 gainers against 730 decliners, while the lower liners also weakened. Sector-wise, REIT (+0.77%) led the gains, while Property (-1.08%) and Utilities (-1.01%) were the top laggards.
Global Markets Review: Wall Street closed mixed, with the S&P 500 (+0.36%) and Nasdaq (+0.71%) posting gains, while the Dow Jones (-0.14%) ended lower. Optimism over major corporate developments, including AMD’s strategic partnership with Sam Altman’s OpenAI and Fifth Third Bancorp’s USD10.9bn acquisition of Comerica, lifted tech and banking stocks, as investors largely brushed off the ongoing US government shutdown and focused on potential Fed rate cuts. European markets ended mixed, with the STOXX 600 finishing flat, weighed down by France’s CAC 40 (-1.3%) following sharp declines in banking stocks amid political uncertainty. In Asia, markets were mixed. Japan’s Nikkei 225 surged 4.75%, supported by gains in tech and real estate stocks, while investor sentiment was also buoyed by the election of Sanae Takaichi as leader of the ruling Liberal Democratic Party. Meanwhile, Hong Kong’s Hang Seng fell 0.67% and China and South Korea markets were closed for holidays.
Market Outlook. The FBM KLCI is expected to trade sideways in the near term as investors turn cautious ahead of Budget 2026, with weak market breadth signalling continued profit-taking in the broader market. Nonetheless, expectations of US rate cuts and potential fiscal measures in the upcoming budget may lend support, with any pullbacks likely representing healthy consolidation. Globally, sentiment remains underpinned by optimism over US monetary easing, while the Budget 2026 announcement on 10 October serves as the key domestic catalyst.
Sector focus. We expect selective interest to persist in the construction, consumer, and renewable energy sectors, driven by positioning ahead of Budget 2026. We also maintain a positive view on gold-related stocks, supported by sustained demand for safe-haven assets amid ongoing global macroeconomic uncertainty.
FBMKLCI Technical Outlook
Technical Commentary:
The FBM KLCI closed flat yesterday, forming a hammer candle signalling fading selling pressure and potential base formation. Indicators remained positive, with the MACD Line trading above the Signal Line, while the RSI floated above 50. The next resistance is located at 1,660. Support is envisaged at around 1,600.
Company News (source: various)
CelcomDigi Bhd’s subsidiary CelcomDigi Mobile Sdn Bhd has received a notice of arbitration from IMMA Technology Sdn Bhd over a March 2022 services agreement, with IMMA seeking RM72.59 million in alleged loss of profit or alternatively RM28.28 million for wasted expenditure related to credit advance services.
Dagang NeXchange Bhd’s unit, OGPC Sdn Bhd has secured a one-year contract from Petronas Dagangan to maintain 50 Petronas stations in the Klang Valley from 1 July 2025, while another unit, Ping Petroleum, obtained approval for its field development and abandonment plan in the Greater Abu area.
Cheeding Holdings Bhd has secured a RM33.94 million contract from Tenaga Nasional Bhd to develop a power supply link for a data centre in Gelang Patah, Johor, with completion expected within 240 days from 2 October 2025.
Lion Industries Corp Bhd plans to revitalise its steel business by seeking strategic partners for its Amsteel Mills plants in Banting and Bukit Raja to enhance production processes, while affirming that steel remains its core business.
Citaglobal Bhd signed a two-year joint development deal with Keppel Decarb (Malaysia) to develop bio-CNG projects in Pahang, Kelantan and Terengganu, with its subsidiary Citaglobal Bioenergy handling biogas supply, facility construction and approvals.
Ta Win Holdings Bhd said its 2022 agreement to sell a substantial stake in Royce Pharma Manufacturing was mutually terminated after buyers Jelita Serbaneka Sdn Bhd and Poly Laboratories Sdn Bhd failed to secure financing for the purchase.
HHRG Bhd has proposed a bonus issue of up to 491.68 million warrants on the basis of two for every five shares held, to be issued at no cost to shareholders, with proceeds depending on future warrant exercises. Cfamillie Holdings, holds a 15.31% stake, followed by GH Consortium with 11.94%.
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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 |