Market Review & Outlook
Malaysia Market Review: The FBM KLCI inched up 0.11% on Monday, supported by selective buying in heavyweights, while the FBM ACE led broader gains with a 0.63% rise. Despite the mild rebound, overall sentiment stayed weak as losers outnumbered gainers 601 to 485. Construction (+1.06%), Energy (+0.71%) and Property (+0.54%) were the top-performing sectors, while Healthcare (-0.63%), REIT (-0.47%) and Technology (-0.38%) lagged. Foreign investors turned net buyers, contrasting with continued net selling by retailers and local institutions.
Global Markets Review: Wall Street fell for a third consecutive session on Monday, with the Dow (-1.18%), S&P 500 (-0.92%) and Nasdaq (-0.84%) retreating as confidence in near-term Fed rate cuts continued to fade. Caution also prevailed ahead of Nvidia’s earnings on Wednesday and the delayed September jobs report due Thursday. European markets mirrored the US weakness, pressured by growing skepticism over the sustainability of the AI-driven rally and concerns that the Fed may keep rates higher for longer. Asian markets were mostly lower as well, with the Hang Seng down 0.71% and the Shanghai Composite slipping 0.46% amid renewed warnings from China on external risks and restructuring challenges. Japan’s Nikkei, however, inched up 0.10% on reports that the government is considering a stimulus package of exceeding JPY17 trillion.
Market Outlook. Malaysian equities are likely to remain range-bound as external uncertainties—particularly from the US—continue to weigh on sentiment. With year-end approaching, local funds may turn more defensive, supporting large caps while keeping pressure on mid- and small-cap counters. Investors are also awaiting a clearer read on the labour market, with the long-delayed September jobs report now scheduled for release on Thursday, 20 November. The data will draw heightened scrutiny as recent caution from Fed officials clouds expectations for a rate move next month. Other key events this week include ADP Employment Change, Nvidia’s 3Q25 results, US FOMC minutes and initial jobless claims. Domestically, attention will centre on trade balance, inflation data and a steady stream of corporate earnings.
Sector focus. We favour domestic-oriented and defensive sectors such as consumer, power-related, and renewable energy plays, which offer more resilient earnings backed by government initiatives supporting the clean energy transition and growing data centre development. Major heavyweight sectors like financials may also see renewed interest as investors adopt a more risk-averse posture heading into year-end.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI ended last trading session higher, though a gravestone doji signalled waning buying strength. 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)
Public Bank Bhd’s net profit fell 3.65% year-on-year to RM1.84 billion for the third quarter ended Sept 30, 2025 (3QFY2025) from RM1.91 billion on lower interest-based income after the 25-basis-point cut in the overnight policy rate during the quarter.
99 Speed Mart Retail Holdings Bhd's net profit for 3QFY2025 was RM160.65 million, a 50% increase when compared to RM 107.16 million last year.
CelcomDigi Bhd's net profit fell 22% to RM341.23 million in 3QFY2025 from RM436.98 million a year earlier, amid higher costs and increased provisions.
MNRB Holdings Bhd's net profit rose 21.1% to RM112.27 million for the second quarter ended Sept 30, 2025 (2QFY2026) from RM92.74 million a year earlier, lifted mainly by stronger investment returns.
SAM Engineering & Equipment (M) Bhd’s net profit dropped 55.53% year-on-year to RM11.07 million in 2QFY2026 from RM24.9 million, as both its equipment and aerospace segments were dragged down by the unfavourable exchange impact due to the weakening of the US dollar against the ringgit.
TH Plantations Bhd’s net profit for 3QFY2025 rose 46.7% to RM31.6 million from RM21.55 million a year earlier, supported by higher average selling prices and lower unrealised foreign exchange losses.
PTT Synergy Group Bhd has proposed a private placement of up to 43.22 million new shares to raise as much as RM56.2 million, mainly to fund working capital for its construction and property development projects.
Infomina Bhd has secured a RM66.13 million contract from the Home Ministry for the provision of technology infrastructure operations, maintenance and support services to the National Registration Department (JPN).
AWC Bhd has secured a contract worth S$4.65 million (RM14.75 million) to design, build and operate a pneumatic waste conveyance system for Singapore’s Housing & Development Board (HDB).
AirAsia X Bhd, which recently launched flights to Istanbul, is planning to establish more long-haul routes to Europe sometime next year, its CEO Benyamin Ismail told Reuters on Monday.
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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.
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| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.133826 | 4.166633 |
| EUR | 4.811981 | 4.816870 |
| CNY | 0.583469 | 0.584053 |
| HKD | 0.531997 | 0.535726 |
| SGD | 3.176644 | 3.198993 |