Market Review & Outlook
Malaysia Market Review: The FBM KLCI slipped 0.1% on Wednesday, tracking weakness across most regional peers as persistent selling in selected consumer counters weighed on sentiment. Lower liners ended mixed. Meanwhile, lower liners closed mixed. Sector-wise, Transportation & Logistics (+0.9%), Plantation (+0.3%) and Property (+0.2%) led the gainers, while Industrial Products (-0.6%), Energy (-0.6%) and Healthcare (-0.6%) were the main laggards.
Global Markets Review: Wall Street advanced on Wednesday, with the Dow (+0.5%), S&P 500 (+0.4%) and Nasdaq (+0.7%) closing higher as optimism grew that some of President Donald Trump’s tariffs could be rolled back following the Supreme Court’s tough questioning during its hearing on the legality of the measures. Sentiment was further supported by stronger-than-expected ADP payroll data, which showed private-sector job growth of 42,000 in October. European equities also ended higher, tracking gains on Wall Street. In Asia, markets were broadly weaker with Japan’s Nikkei 225 (-2.5%), Hong Kong’s Hang Seng Index (-0.1%) and South Korea’s KOSPI (-2.9%) declining on the worry about the sky-high valuations of AI and tech companies.
Market Outlook. Global sentiment remains cautious as stronger-than-expected US ADP payroll data reinforced the view that the labour market remains resilient, signalling a healthy economy but tempering expectations for near-term rate cuts. While this underpins the broader growth outlook, stretched valuations in AI and tech companies may cap further upside. The US Supreme Court’s review of President Trump’s tariffs remains in focus, with investors closely monitoring the proceedings, although a final decision may take several months to materialise. The cautious global tone is expected to spill over into the local market, with the FBM KLCI likely to trade steady around the 1,620-point level today as investors await Bank Negara Malaysia’s OPR decision. Investors will also look forward to the domestic corporate earnings season, which is expected to provide clearer guidance on earnings resilience and sectoral performance heading into year-end.
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 formed a neutral candlestick, suggesting indecision in the market. 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)
AWC Bhd said an arbitrator has ruled in the engineering services group's favour in a dispute over an unpaid sum for the supply of materials. The Asian International Arbitration Centre awarded RM2.16 million to AWC's subsidiary Trackwork & Supplies Sdn Bhd as the outstanding sum owed by Emrail Sdn Bhd, together with interest of 5% per annum from Sept 15, 2021 until full settlement. It also awarded costs of RM303,920 to Trackwork.
Destini Bhd has issued and submitted its annual report for the financial year ended June 30, 2025 (FY2025), ahead of the Nov 7 (Friday) deadline. The stock market operator then confirmed that there will be no suspension of trading for the company.
Jasa Kita Bhd which specialises in manufacturing power tools and industrial equipment, has designated Datuk Yasmin Mahmood as its executive chairman and her brother Datuk Seri Iskandar Mizal Mahmood as group managing director.
Kerjaya Prospek Group Bhd said it has secured an RM87.66 million contract to undertake building works for a commercial development project in Shah Alam. The contract was awarded by Eastern & Oriental Bhd.
Pimpinan Ehsan Bhd said its proposed regularisation plan involving its acquisition of renewable energy group reNIKOLA Holdings Sdn Bhd is currently under the attention and review of the Ministry of Energy Transition and Water Transformation before the ministry provides its official feedback.
SD Guthrie Bhd has appointed Mohd Haris Mohd Arshad as its new managing director, effective Jan 1, 2026, as part of a planned leadership transition. Separately, SD Guthrie also announced that its net profit rose 22% in the third quarter from a year earlier thanks largely to land sales and higher downstream sales.
YTL Power International Bhd has won its appeal against a capital gains tax assessment on its A$1.03 billion (RM2.80 billion) disposal of transmission system operator, ElectraNet Pty Ltd, back in 2022.
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| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.173625 | 4.206753 |
| EUR | 4.807241 | 4.816602 |
| CNY | 0.587202 | 0.587795 |
| HKD | 0.536758 | 0.541036 |
| SGD | 3.193514 | 3.219080 |