Malaysia Market Review: The FBM KLCI (+0.0%) edged marginally higher after a tightly range-bound session on Thursday. Market breadth remains weak, with 501 gainers against 528 losers. Sector wise, Industrial Products (+0.5%), Transport (+0.3%) and Consumer (+0.2%) led gains while Telecommunications (-0.8%) and Technology (-0.6%) were the weakest performers. Foreign investors were net buyers for a fourth consecutive day, reflecting improving risk appetite.
Global Markets Review: Wall Street retreated on Thursday, with the Nasdaq sliding 2.3% as investors continued to rotate out of technology stocks amid valuation concerns. Sentiment was further weighed by doubts over a December Fed rate cut, after the US government shutdown ended when President Donald Trump signed a funding bill into law. The reopening could also allow delayed economic data to return, potentially revealing further weakness in the labour market and broader economy. Markets are now pricing only a 50-50 chance of a cut next month, down sharply from about 95% a month ago following a wave of hawkish Fed commentary on Wednesday. The broader market followed suit, with both the Dow and S&P 500 falling 1.7%. European equities also ended lower, with the STOXX 600 down 0.6%. Asian markets, however, bucked the trend, with the SZSE Component up 1.8%, KOSPI up 0.5%, and Nikkei 225 gaining 0.4%.
Market Outlook. Malaysian equities are expected to trade in a cautiously constructive manner over the near term, supported by steady domestic fundamentals but tempered by growing external volatility. While the FBM KLCI has shown resilience, the softer performance across the broader market suggests investors remain selective ahead of the upcoming 3Q GDP release and the start of the local earnings season. Renewed strength in foreign inflows alongside improving labour-market conditions and manageable inflation should continue to anchor downside risks. Globally, sentiment has turned more fragile. Wall Street’s pullback, led by a sharp rotation out of major technology and AI names, signals rising investor unease over stretched valuations. Uncertainty over the Fed’s policy path amplified by softer US labour indicators and unease around delayed economic data following the end of government shutdown adds another layer of caution.
Sector focus. We continue to hold a positive view on selective construction, power ancillary, and renewable energy stocks, underpinned by data centre growth and the ongoing shift toward cleaner energy. Additionally, we prefer select consumer names, especially within the staples segment, supported by stable domestic consumption and strong earnings visibility.
Technical Commentary: The FBM KLCI ended Thursday’s trading session flat after a day of directionless trading. Indicators remained positive, with the MACD Line trading above 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)
The closing date for the voluntary takeover offer by Genting Bhd for Genting Malaysia has been extended to 5pm, Dec 1, from Nov 24.
Telecommunications network provider OCK Group Bhd is acquiring Edotco Group’s telecom tower operations in Laos and will start building 30 new tower sites there.
Citaglobal Bhd has bagged a RM628 million contract from Jabatan Bekalan Air Malaysia for a raw water and flood mitigation project in Selangor.
Pharmaniaga Bhd's net profit fell 92.8% in the third quarter ended Sept 30, 2025 (3QFY2025), due to higher transport costs for delivering new products to East Malaysia via air and sea.
Duopharma Biotech Bhd reported a 44.7% surge in net profit to RM22.57 million for the third quarter ended Sept 30, 2025, while quarterly revenue increased 6.6% to RM222.48 million.
Carlsberg Brewery Malaysia Bhd is anticipating that the recently announced excise duty increase may soften consumer demand in the short term and potentially lead to a rise in illicit alcohol consumption.
Dutch Lady Milk Industries Bhd reported an 86.1% jump in net profit to RM32.06 million for the third quarter ended Sept 30, 2025, while its revenue climbed 5.4% to RM374.52 million.
S P Setia Bhd’s third quarter net profit fell 32% due to lower property development earnings, including a RM234 million drop in land sales and weaker earnings from Australian projects after substantial handovers last year.
GuocoLand (Malaysia) Bhd’s first quarter net profit more than doubled to RM6.1 million on stronger contributions from its property and hotel divisions.
Hume Cement Industries Bhd reported a 29.1% increase in net profit for its first financial quarter, driven by lower input and production costs alongside stronger cement sales volume.
Mi Technovation Bhd posted record net profit for the third quarter, driven by higher sales of semiconductor equipment and material, as well as lower foreign exchange losses.
Samaiden Group Bhd, which builds solar and other renewable energy power plants, reported an 85.6% jump in net profit for its first financial quarter, bolstered by construction progress on utility-scale solar projects
Keyfield International Bhd flagged continued low vessel utilisation rate over the coming quarters due to the monsoon season in the South China Sea.
AWC Bhd has secured an interim agreement from the Ministry of Works to provide facilities management services for federal government buildings in the southern and Sarawak zones for an additional year, with a total contract value of RM63.7 million.
REV Media Group Sdn Bhd, the digital media subsidiary of Media Prima Bhd, has completed the full acquisition of The Vocket Sdn Bhd, bringing the Malay-language lifestyle and culture platform fully under its umbrella.
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| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.111095 | 4.143895 |
| EUR | 4.789157 | 4.798654 |
| CNY | 0.581054 | 0.581649 |
| HKD | 0.528955 | 0.533187 |
| SGD | 3.160793 | 3.186131 |