Opening Daily Highlight
Mixed
Global Markets Lifted by Fed Hopes
Thu, 27-Nov-2025 08:04 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI climbed 0.79% to 1,624.50, buoyed by sustained buying in heavyweight counters and optimism over a potential US interest rate cut. Market breadth was negative, with 610 losers outpacing 518 gainers. Sector-wise, Telecommunications & Media (+1.07%), Finance (+0.98%), and Property (+0.80%) led the gains, while Technology (-1.57%), Energy (-0.66%), and Plantation (-0.40%) underperformed.

 

Global Markets Review: Wall Street extended its four-day rally, with the Dow (+0.67%), S&P 500 (+0.69%) and Nasdaq (+0.82%) closing higher, led by a nearly 7% jump in Dell Technologies following its quarterly results and outlook. Gains were supported by ongoing expectations of a Fed rate cut in December, while economic data showed weekly initial jobless claims fell 6,000 to a seasonally adjusted 216,000 for the week ended November 22, below estimates and the lowest since April. European stocks closed higher, with the Stoxx 600 gaining 1.09%, supported by rising expectations of a Fed rate cut and optimism over a possible new Fed chair who may favour lower rates. UK markets were volatile ahead of the Autumn Budget, while the early release of the OBR’s forecasts drove swings in gilts and bank stocks, though major lenders ultimately finished in positive territory. Asian markets advanced on optimism of a US Fed rate cut, while Japan’s Nikkei (+1.85%) was further supported by corporate gains, including SoftBank (+5.1%) after Ampere became its wholly owned subsidiary.

 

Market Outlook. Malaysian equities are expected to remain range-bound in the near term as investors digest mixed global signals. In the US, labour indicators have softened, while durable goods orders rose 0.5% in September, suggesting continued investment in business equipment that may support underlying growth. The Fed’s Beige Book, due Wednesday, will offer a region-by-region assessment of economic conditions, while the September PCE Price Index on 5 December will provide further clarity on the inflation trajectory. Expectations for a 25-basis-point Fed rate cut have surged to 85% from 30% a week ago, following weaker-than-expected delayed readings on retail sales and producer inflation. Domestically, ongoing corporate earnings will remain the key driver of market sentiment.

 

Sector focus. We maintain a positive view on select construction, power ancillary, and renewable energy stocks, driven by expanding data centre demand and the transition to cleaner energy. Additionally, we favour certain consumer staples, supported by stable domestic consumption.

 

FBMKLCI Technical Outlook

 

Technical Commentary: The FBM KLCI ticked higher, printing a bullish candle with a mild lower shadow. Indicators turned mixed, with the MACD Line trading below the Signal Line, while the RSI trading above 50. The next resistance is located at 1,660. Support is envisaged at around 1,600.

Company News (source: various)

IHH Healthcare Bhd’s 3QFY25 net profit rose 15.4% YoY to RM616m, supported by stronger day care contributions and cost management in Malaysia and India; revenue grew 16.4% to RM6.57bn following the Fortis acquisition.

 

PETRONAS Gas Bhd’s 3QFY25 net profit fell 10% YoY to RM444.2m due to lower margins from reduced product prices and tariff adjustments; revenue slipped 2.3% to RM1.62bn, with a third interim dividend of 18 sen/share declared.

 

PETRONAS Dagangan Bhd’s 3QFY25 net profit dropped 16.1% YoY to RM281.3m, dragged by weaker fuel price trends and lower diesel demand despite steady sales; revenue fell 2% to RM9.53bn, and a 24 sen/share interim dividend was declared.

 

Sunway Bhd’s 3QFY25 net profit declined 10.1% YoY to RM338.1m on higher operating and tax expenses, although revenue rose 26.4% to RM2.57bn; 9MFY25 net profit was slightly down 2.1% at RM801.6m despite revenue jumping 49.1% to RM7.49bn.

 

IOI Corp Bhd’s 1QFY26 net profit fell 48% YoY to RM369.4m due to the absence of last year’s RM365.9m forex gain, while revenue rose 14.2% to RM3.05bn; underlying PBT (excluding non-underlying items) increased 41.7% to RM508.8m.

 

Kuala Lumpur Kepong Bhd’s 4QFY25 net profit surged 14-fold to RM96m on stronger plantation and property results, despite RM123.7m non-cash losses from UK chemicals investment; revenue rose 11% to RM6.3bn, and a final dividend of 40 sen/share was declared.

 

AMMB Holdings Bhd’s 2QFY26 net profit rose 6.8% YoY to RM534.6m on higher net interest and non-interest income, with interim dividend increased to 12.5 sen/share from 10.3 sen.

 

Time dotCom Bhd’s 3QFY25 net profit nearly doubled to RM106.2m on higher revenue from data, cloud, and other services and lower currency losses; a special dividend of 21.64 sen/share (RM400.1 m) will be paid on Dec 22.

 

UOA Development Bhd’s 3QFY25 net profit more than doubled to RM115.6m, driven by higher progress billings while expenses remained steady; revenue grew 54% to RM217.3m, new property sales reached RM564.6m, and unbilled sales stood at RM794.9m.

 

Farm Fresh Bhd’s 2QFY26 net profit rose 40% YoY to RM36.7m on stronger domestic and overseas sales; revenue increased 18.4% to RM294.9m, supported by new product launches and a RM1.9m one-off gain from disposal of Australian farm assets.

 

UEM Edgenta Bhd posted a 3QFY25 net loss of RM94.1m following RM96.4m in one-off impairments of goodwill, non-current assets, and long-outstanding receivables; revenue declined 2.8% to RM770.8m due to lower contributions from infrastructure services and healthcare solutions.

Sentiment: Positive
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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.116196 4.147085
EUR 4.779011 4.786244
CNY 0.583313 0.583620
HKD 0.529202 0.533225
SGD 3.170028 3.194008