Opening Daily Highlight
Mixed
Cautious Trading Amid Mixed Global Signals
Mon, 24-Nov-2025 07:55 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI slipped 0.15% to 1,617.57 amid amid choppy sentiment and ongoing global uncertainties, with market breadth turning negative as 396 gainers were outweighed by 816 losers. Transportation & Logistics (+0.30%) and REITs (+0.26%) led sector gains, while Technology (-2.47%) and Healthcare (-1.18%) dragged. As for fund flows, foreign investors were net sellers, offset by net buying from domestic institutional and retail participants.

 

Global Markets Review: Wall Street closed higher, with the Dow (+1.08%), S&P 500 (+0.98%) and Nasdaq (+0.88%) rebounding following rising expectations of a December Fed rate cut, which offset concerns over lofty tech valuations. Solid earnings from AI and chip leaders such as Nvidia helped cushion overall sentiment, while benchmark Treasury yields fell and the dollar remained mixed. The third-quarter earnings season nears completion, with 83% of S&P 500 companies beating estimates. In Europe, stocks ended lower, with the STOXX 600 slipping 0.33% and the FTSEurofirst 300 fell 0.32%, pressured by concerns about lofty tech valuations and a pullback in defense shares amid signs of progress toward ending Russia’s war in Ukraine. Most Asian equities closed in the red on Friday, with Japan’s Nikkei down 2.40% as chip shares came under pressure following overnight selloff in US tech stocks.

 

Market Outlook. Malaysian equities are likely to stay cautious in the near term amid mixed global cues, with investors awaiting clearer signals on US monetary policy ahead of the potential December Fed rate cut. Attention will turn to the upcoming US retail sales and Conference Board Consumer Confidence readings on 25 November, which will offer further insight into consumer health in the world’s largest economy. US PPI released on the same day will also be closely watched as easing upstream inflation would strengthen the case for Fed easing. Meanwhile, US 3Q GDP data due on 26 November may influence broader risk sentiment. Locally, ongoing corporate earnings releases will remain a key driver of investor positioning.

 

Sector focus. We maintain a positive outlook on selective construction, power ancillary, and renewable energy stocks, supported by the expansion of data centres and the ongoing transition toward cleaner energy. In addition, we favour select consumer staples names, underpinned by steady domestic consumption and solid earnings visibility.

 

FBMKLCI Technical Outlook

Technical Commentary: The FBM KLCI slipped marginally, forming a doji candle, reflecting market indecision as the index hovered around its short-term moving averages. 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)

Malayan Banking Bhd's 3Q net profit rose 3% y-o-y to RM2.62 billion, supported by higher interest and non-interest income, while its net interest margin improved slightly q-o-q but remained marginally lower y-o-y. No dividend was declared for the quarter.

 

KPJ Healthcare Bhd’s 3QFY2025 net profit rose 9.2% y-o-y to RM93.91 million on higher patient visits and expanded bed capacity, with revenue hitting a record RM1.12 billion. It declared a 1.23 sen dividend, bringing total payout for the year to 4.23 sen.

 

Bintulu Port Holdings Bhd’s 3QFY2025 net profit increased over 15% y-o-y to RM32.2 million on higher revenue and lower operating expenses. It declared a four sen dividend, raising total FY2025 dividends to 10 sen.

 

Master Tec Group Bhd’s 3QFY2025 net profit jumped 43.9% y-o-y to RM8.59 million, driven by strong demand for low-voltage power cables. Revenue rose 32.2% y-o-y to RM115.83 million, with no dividend declared.

 

AuMas Resources Bhd’s 4QFY2025 net profit more than doubled to RM25.41 million as gold production recovered after earlier operational disruptions. Revenue surged 58.4% y-o-y to RM98.5 million on higher gold and silver output.

 

SkyWorld Development Bhd’s 2QFY2026 net profit fell to RM7.93 million from RM14.53 million a year earlier due to the gestation phase after completing major projects. Revenue dropped 30.3% y-o-y to RM86.68 million, and it declared a lower 0.22 sen dividend.

 

Suria Capital Holdings Bhd’s 3QFY2025 net profit rose nearly 20% y-o-y to RM20.33 million, supported by higher revenue recognition from its property development segment. It declared an interim dividend of 1.50 sen per share.

 

Sarawak Plantation Bhd posted a flat 3QFY2025 net profit of RM31.12 million as lower CPO and kernel sales volumes offset higher selling prices. It named Iswandi Ayub as CEO effective Jan 1, 2026, and declared a 15 sen dividend.

 

Mah Sing Group Bhd is expanding its Setapak presence with the proposed RM44.5 million acquisition of 2.79 acres of leasehold land in Sri Rampai. The group said the site is within a strong, established residential catchment.

 

Tan Chong Motor Holdings Bhd’s 3QFY2025 net loss narrowed by a third to RM60.25 million on higher revenue and lower forex losses. The improvement was partly offset by higher impairment losses on receivables.

 

Insights Analytics Bhd’s water technology unit secured an RM11.46 million subcontract to design, build and operate a performance-based water supply project in Nibong Tada, Sarawak. Works begin Nov 24 with operations extending 60 months after completion in May 2026.

 

Land & General Bhd posted a six-fold jump in 2QFY2026 net profit to RM14.07 million, driven by stronger property and education segment contributions and JV results. The group reported significantly higher profitability y-o-y.

 

PETRONAS Chemicals Group Bhd narrowed its 3QFY2025 net loss to RM289 million from RM789 million a year earlier as the ringgit strengthened. It cautioned that oversupply and weak demand continue to pressure margins.

Sentiment: Negative
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