Market Review & Outlook
Malaysia Market Review: The FBM KLCI advanced 0.8% on Monday, supported by gains in banking heavyweights and firmer regional sentiment after last week’s subdued trading. In contrast, lower liners closed weaker amid profit-taking activities after recent gains. Sector-wise, the Finance (+1.0%) and Transportation & Logistics (+0.9%) indices led the gainers, while Technology (-1.8%) and Utilities (-0.4%) were the only laggards.
Global Markets Review: Wall Street ended mostly higher on Monday, led by gains in technology stocks following a series of major AI-related deal announcements. The S&P 500 (+0.2%) and Nasdaq (+0.5%) advanced, while the Dow Jones (-0.5%) lagged. Sentiment was boosted by reports that Amazon will provide cloud-computing services to OpenAI under a USD38bn agreement leveraging Nvidia’s GPUs, and that data-centre operator Iren signed a multi-year USD9.7bn deal with Microsoft for access to Nvidia GB300 GPUs. European equities also closed higher, led by auto sector gains as investors digested fresh earnings releases, while sentiment across Asia was upbeat with Japan’s Nikkei 225 (+2.1%), China’s Shanghai Composite (+0.6%), and Hong Kong’s Hang Seng Index (+1.0%) extending Wall Street’s momentum on Friday.
Market Outlook. Global risk sentiment has improved as markets entered November, with Wall Street extending October’s gains amid continued momentum in the AI trade and signs of easing US–China tensions. The positive tone across global markets is expected to spill over into regional trading, lending near-term support to risk appetite and export-oriented sectors. Investors will be monitoring more than 100 US corporate earnings releases this week, including AI-related names such as AMD and Supermicro, alongside the US Supreme Court hearing on 5 November regarding the legality of Trump-era tariffs. Against this backdrop, the FBM KLCI is expected to remain steady around the 1,620 level, as investors adopt a wait-and-see stance ahead of Bank Negara Malaysia’s OPR decision on 6 November.
Sector focus. We remain positive on selective construction, power ancillary, and renewable energy counters, supported by data centre expansion and the ongoing energy transition. In addition, we favour selective consumer stocks, particularly those within the consumer staples segment, backed by steady domestic consumption and resilient earnings visibility.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI posted a bullish marubozu candlestick, signalling strong buying interest and renewed upward momentum after recent consolidation. Indicators remain mixed, with the MACD Line still trading below the Signal Line, while the RSI stays above 50. The next resistance is located at 1,660. Support is envisaged at around 1,600.
Company News (source: various)
Capital A Bhd is considering establishing a Bahrain-based airline to operate narrowbody aircraft into key destinations in the Middle East, Central Asia, Africa and Europe.
Destini Bhd has until Nov 7 to submit its annual report for FY2025, or face trading suspension from Nov 10.
Genting Bhd said its takeover offer for Genting Malaysia Bhd has become unconditional after the group surpassed the 50% ownership threshold.
Ho Hup Construction Co Bhd said it has five days to issue its annual report for 2025 or face suspension of its shares on Nov 10.
Ireka Corp Bhd has roped in a China-based company in its efforts to exit its Practice Note 17 status. The company has signed a non-binding term sheet with Rongyao Investment Chengdu Co Ltd for its restructuring and recapitalisation exercise. Under the term sheet, Rongyao will inject cash, strategic assets and lead financial restructuring with Ireka’s creditors.
Lotte Chemical Titan Holding Bhd reported a smaller third quarter net loss, supported by stronger sales, lower depreciation charges from its Malaysian operations and a reduced share of losses from associate Lotte Chemical USA Corp.
Mah Sing Group Bhd is expanding its presence in Semenyih with the acquisition of a 275-acre freehold parcel adjacent to its existing 500-acre M Legasi township for RM273.5 million.
MMAG Holdings Bhd — in which two listed companies hold a more than 10% stake combined — has come out to say that it is not aware of possible explanations for the unusual market activity involving its stock after hitting limit-down on Monday, bringing the counter to its lowest in 19 months.
Zen Tech International Bhd plans to buy a 30% stake in shariah-compliant payment gateway provider Souqa Fintech Sdn Bhd have fallen through after the latter terminated an LOI, which initiated negotiations over a potential stake acquisition via a notice dated Oct 28.
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| Currency | Buy Rates (RM) | Sell Rates (RM) | 
|---|---|---|
| USD | 4.183586 | 4.216813 | 
| EUR | 4.833556 | 4.838403 | 
| CNY | 0.589126 | 0.589710 | 
| HKD | 0.538406 | 0.542179 | 
| SGD | 3.210782 | 3.233399 |