Opening Daily Highlight
Mixed
Caution Prevails as US Job Data Clouds Sentiment
Fri, 21-Nov-2025 08:02 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI slipped 0.24% to 1,619.96 amid late-session profit-taking in selected heavyweights, though overall market breadth was positive with 694 gainers outpacing 452 losers. Technology (+2.11%), Healthcare (+1.06%) and Property (+0.83%) led sector gains, while Transportation & Logistics (-0.57%) and Telecommunications & Media (-0.47%) lagged. On the flows front, foreign investors and retailers trimmed positions, while local institutions emerged as net buyers.

 

Global Markets Review: Overnight, US equities tumbled as the Dow (-0.34%), S&P 500 (-1.56%) and Nasdaq (-2.15%) all declined, following a sharp midday reversal triggered by the long-delayed September jobs report. The BLS showed the US economy added 119,000 jobs during the month, well above the expected gain of 51,000. Although the unemployment rate rose to 4.4% in Sep, this was due to labour force participation rising faster than gains in employment. Fed minutes from the October meeting highlighted “strongly differing views” among policymakers, with market odds still leaning toward the Fed holding rates steady rather than cutting amid mixed signals from the labour market. In Europe, the STOXX 600 closed 0.4% higher after trimming earlier gains of up to 1.2% following hawkish Fed commentary. Japan’s Nikkei jumped 2.65%, supported by strong earnings from Nvidia that eased concerns about an AI bubble.

 

Market Outlook. Malaysian equities may remain cautious following the pull-back in the US market. The US economy added more jobs than expected in September, but the rise in the unemployment rate and downward revisions to prior months present an ambiguous picture for Fed officials still weighing whether further interest-rate cuts are needed to support the labour market. Following the release of the data, market odds of a 0.25% rate cut at the Fed’s December meeting rose to about 39% from 20%. Investors will also keep an eye on the US’s third-quarter GDP data due on 26 November, which may influence global sentiment. Domestically, Malaysia’s inflation print today and ongoing corporate earnings will be key focal points.

 

Sector focus. We continue to favour domestic-focused and defensive sectors such as consumer, power-related, and renewable energy names, which offer resilient earnings supported by government-driven clean energy initiatives and the accelerating development of data centres. Major heavyweight sectors, including financials and plantation, may also see renewed interest as investors adopt a more risk-averse stance heading into year-end.

 

FBMKLCI Technical Outlook

Technical Commentary: The FBM KLCI ended last trading session lower, suggesting short-term profit taking. Indicators were mixed, with the MACD Line trading below the Signal Line, and the RSI trading above 50. The next resistance is located at 1,660. Support is envisaged at around 1,600.

 

Company News (source: various)

Press Metal Aluminium Holdings Bhd’s net profit rose 40% year-on-year (y-o-y) to RM563.3 million for the three months ended Sept 30, 2025 (3QFY2025), from RM402.3 million, due to higher volume and prices, as well as lower material costs. 

 

Sime Darby Property Bhd’s net profit rose 31.2% y-o-y to RM168.23 million for 3QFY2025 from RM128.26 million, boosted by stronger sales and cost efficiency in its property development business. Separately, the group said it is well-positioned to take on more debt to fund its income-generating industrial and data centre projects.

 

Affin Bank Bhd's earnings slipped marginally to RM144.99 million for 3QFY2025, from RM145.82 million a year ago, as decreased net income and higher impairment loss allowances more than offset lower expenses.

 

KLCCP Stapled Group posted marginal rise of 1.26% in net profit to RM209.13 million for the three months ended Sept 30, 2025 (3QFY2025), from RM206.53 million a year earlier, supported by a higher contribution from its management services segment.

 

Shareholders of Sunway Construction Group Bhd are set for a cash windfall as the group declared its maiden special dividend of 23 sen per share — payable on Jan 8, 2026 — since its listing.

 

Hap Seng Consolidated Bhd’s net profit fell 22% y-o-y to RM151.11 million in 3QFY2025, from RM193.11 million on the back of lower contributions from its property and plantation divisions.

 

Gas Malaysia Bhd's net profit fell 18% y-o-y to RM95.08 million in 3QFY2025, RM115.99 million due to lower volume of natural gas sold and average natural gas profit margin.

 

Velesto Energy Bhd’s net profit rose 17% to RM50.16 million in 3QFY2025, from RM42.93 million a year ago, as higher rig utilisation and lower accounting charges offset a decline in revenue.

 

Malaysian Pacific Industries Bhd‘s net profit surge 76.1% y-o-y RM53.05 million in the first quarter ended Sept 30, 2025 (1QFY2026), against RM30.13 million, driven by improved profit margins and higher sales.

 

Sports Toto Bhd’s net profit almost halved to RM22.1 million for 1QFY2026, down 46.5% from RM41.34 million a year earlier, as weaker results from its numbers forecast business offset higher group revenue.

 

Buoyed by the gold rally, Tomei Consolidated Bhd saw its net profit leap three times to RM22.51 million for 3QFY2025, compared with RM6.98 million in the same quarter a year ago.

 

Oil and gas (O&G) services provider Deleum Bhd’s net profit decline 11.9% y-o-y to RM22.09 million in 3QFY2025 from RM25.07 million, mainly due to reduced contributions from its power and machinery (P&M) segment, and higher operating expenses.

 

Solarvest Holdings Bhd has secured a RM320 million engineering, procurement, construction and commissioning (EPCC) contract to construct a 99.99MWac photovoltaic plant in Kampar, Perak, under the Large Scale Solar 5 (LSS5) programme.

Sentiment: Neutral
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Market Mover
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USD 4.144070 4.176994
EUR 4.790696 4.800157
CNY 0.584163 0.584752
HKD 0.532153 0.536404
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