Opening Daily Highlight
Global
Global AI Momentum Lifts Sentiment
Wed, 29-Oct-2025 07:50 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI closed lower by 0.3% to 1,613.56 pts as investors took profit after recent gains amid a region-wide downturn. Sector performance was broadly negative, with all sectors ending in the red except Construction (+0.7%), which saw mild buying interest in selected mid-cap names.

 

Global Markets Review: On Wall Street, the Dow Jones (+0.3%), S&P 500 (+0.2%), and Nasdaq (+0.8%) extended gains to new record highs, led by strength in technology stocks. NVIDIA jumped 5% after unveiling major AI supercomputer initiatives and securing an estimated USD500bn in upcoming AI chip orders at its GTC 2025 conference, fueling optimism across the tech sector. Microsoft (+2.8%) advanced on progress in its OpenAI partnership, while Apple briefly surpassed the USD4tn valuation on robust iPhone demand. In Europe, the STOXX Europe 600 slipped after three consecutive record closes as investors digested corporate earnings and awaited policy cues from the Federal Reserve and European Central Bank. Across Asia, sentiment turned cautious, with Japan’s Nikkei 225 (-0.6%), Shanghai Composite (-0.2%), Shenzhen (-0.4%), and Hang Seng (-0.3%) easing as investors locked in profits following recent rallies.

 

Market Outlook. The FBM KLCI is likely to trade firmer, tracking Wall Street’s strength led by Nvidia’s AI expansion plans and OpenAI’s restructuring with Microsoft, which reinforce optimism over the global AI and cloud-computing cycle. Investor attention will turn to the FOMC policy decision on 29 October, where a 25-basis-point rate cut is widely expected, and the Trump–Xi meeting on 31 October, where both leaders are set to review a preliminary US–China trade framework reached earlier this week. The ongoing NVIDIA GTC 2025 Conference will also remain in focus, with further announcements on AI supercomputers, sovereign AI partnerships, and data-centre technologies likely to sustain momentum in semiconductor and infrastructure themes. Upcoming US tech earnings from Meta, Microsoft, and Alphabet on 29 October, followed by Apple and Amazon on 30 October, will guide sentiment, with AI and data-centre spending expected to drive near-term interest in Malaysia’s construction, power ancillary, and utilities sectors.

 

Sector focus. We expect sentiment to remain constructive in the technology sector, mirroring overnight gains on Wall Street. We also maintain a positive outlook on the renewable energy and utilities sectors, supported by ongoing policy initiatives, improving regulatory clarity, and sustained investment momentum.

 

Company News (source: various)

Bursa Malaysia Securities Bhd has initiated legal action against MAA Group Bhd to prevent it from holding an extraordinary general meeting (EGM) on KNM Group Bhd’s proposed sale of Deutsche KNM GmbH, pending compliance with listing requirements.

 

Yinson Holdings Bhd announced that its subsidiary Yinson Renewables has received approval from New Zealand’s Overseas Investment Office for its renewable energy investments in the country.

 

Mah Sing Group Bhd is seeking new partners for its second data centre project after exclusive negotiations with Bridge Data Centres lapsed, marking its second unsuccessful collaboration with the same partner.

 

UEM Sunrise Bhd has appointed Shaharul Farez Hassan as managing director and CEO effective 17 November, filling a position vacant since February following Sufian Abdullah’s resignation.

 

UEM Edgenta Bhd has named Shaiful Zahrin Subhan as managing director and CEO effective 1 November, succeeding Syahrunizam Samsudin, who now leads Malakoff Corp Bhd.

 

Nestlé (Malaysia) Bhd reported a 34% y-o-y increase in 3QFY2025 net profit to RM114.0m, driven by higher sales and effective cost control. The group declared a 60 sen interim dividend payable on 10 December.

 

LPI Capital Bhd posted a 7.4% y-o-y decline in 3QFY2025 net profit to RM114.8m due to higher costs and weaker associate income, although revenue grew 9.9% to RM549.3m. No dividend was declared.

 

Oriental Interest Bhd recorded a 10.4% y-o-y increase in 4QFY2025 net profit to RM39.3m, supported by stronger property development and construction performance.

 

Alpha IVF Group Bhd registered a 6.3% rise in 1QFY2026 net profit to RM15.3m on higher sales and margins. Revenue climbed 21.2% to RM52.1m, and the group declared a 0.5 sen interim dividend.

 

Dufu Technology Corp Bhd returned to profitability in 3QFY2025 with a net profit of RM10.5m compared with a RM3.2m loss a year earlier, mainly due to lower foreign exchange losses. Revenue increased 8.3% to RM71.4m.

 

S P Setia Bhd proposed two Islamic note programmes comprising RM3.5bn sukuk wakalah and RM500.0m Islamic commercial paper to fund working capital, refinancing, and business expansion.

 

Kumpulan Kitacon Bhd secured an RM86.6m contract from Earth Pavilion Sdn Bhd to construct residential units at The Mines Resort City, Selangor. The 24-month project will commence on 1 November 2025.

 

Sunway Real Estate Investment Trust Bhd is divesting the Sunway Hotel Seberang Jaya in Penang to Sunway Bhd for RM60.0m, with proceeds to finance a new hotel above Sunway Carnival Mall.

 

PeterLabs Holdings Bhd has resolved disputes with substantial shareholders Datuk Loh Saw Foong and Datin Lin Ching Yein through a settlement agreement that covers all outstanding matters.

 

SkyGate Solutions Bhd is selling its factory in Penang to Danish medical device manufacturer Ambu AS for RM39.8m, with proceeds to be reinvested in high-growth projects.

Sentiment: Positive
Read more details in:

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.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.181481 4.210795
EUR 4.888655 4.893553
CNY 0.590894 0.591496
HKD 0.538181 0.541948
SGD 3.229273 3.252067