Market Review & Outlook
Malaysia Market Review: The FBM KLCI ended a two-day rally, slipping 0.48% to 1,622.84 on Wednesday, weighed by profit-taking activities following recent gains in heavyweight stocks. Despite the pullback in selected heavyweights, market breadth was positive, with 591 gainers outpacing 519 losers. Most sectors ended in the red, led by Consumer (-0.95%), Telecommunications & Media (-0.76%) and REIT (-0.72%). Meanwhile, Healthcare (+1.61%) and Technology (+1.58%) were the top gainers.
Global Markets Review: Wall Street closed higher overnight, with the Dow (+0.86%), S&P 500 (+0.30%) and Nasdaq (+0.17%) extending gains. The ADP jobs report showed private payrolls unexpectedly declining by 32,000 in November (consensus: +40,000), reinforcing expectations of a 25-bp Fed cut next week. In Europe, the Stoxx 600 edged up 0.10%, in tandem with steady global markets. Asian markets ended mixed, with Japan’s Nikkei 225 up 1.14% on gains in technology shares and Korea’s KOSPI rising 1.04% following better-than-expected 3Q25 GDP growth of 1.8% YoY. However, Hong Kong’s Hang Seng Index (-1.28%) and China’s Shanghai Composite (-0.51%) retreated.
Market Outlook. As year-end approaches, domestic funds may rotate towards defensive counters for stability, which would favour large caps while weighing on mid- and small-caps. Window-dressing activity should continue to provide near-term support for the FBM KLCI. Externally, market expectations of the Fed’s easing cycle going into 2026 will keep global sentiment positive, with foreign inflows into emerging markets providing further tailwinds to the domestic market. Investor focus will remain on upcoming September Core PCE and US labour data, as well as the Fed’s rate decision next week.
Sector focus. The expectation of a US easing cycle and a steady OPR outlook should provide support to the ringgit, which in turn would benefit domestic-oriented consumer staples. We also maintain a constructive view on construction, power-ancillary and renewable-energy plays, underpinned by a stable economic outlook, sustained data-centre demand and the ongoing shift toward cleaner energy.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI pared early session gains to close lower, however it managed to maintain its upward momentum above all major moving averages. Indicators remain 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)
Energy services firm Wasco Bhd has secured a contract for the fabrication and assembly of modules, which it expects to bring in revenue between US$150 million (RM619.4 million) and US$200 million (RM825.8 million).
Gabungan AQRS Bhd has entered into an agreement with the owner of a 7.92-acre site in Bangi to jointly undertake a commercial and residential project with a potential gross development value of up to RM600.47 million.
DXN Holdings Bhd, a direct-selling company specialising in consumer health and wellness products, is considering investing 100 million Brazilian reals (RM77 million) to build an industrial plant in Brazil.
Advancecon Holdings Bhd has secured a second favourable adjudication decision in its payment dispute with China Communications Construction (ECRL) Sdn Bhd (CCC) over works carried out for the East Coast Rail Link (ECRL) project.
Bina Puri Holdings Bhd’s has received its sixth winding-up petition this year, after the Inland Revenue Board filed action against its wholly-owned unit BPI (WM) Sdn Bhd for allegedly failing to pay outstanding taxes.
SumiSaujana Group Bhd has secured a three-year supply contract to provide specialty chemicals used in activating catalysts for cleaner fuel production at Pengerang, Johor.
Palm kernel expeller manufacturer Muar Ban Lee Group Bhd has acquired two parcels of industrial land together with existing buildings in Muar, Johor, for a total consideration of RM9.5 million.
Tafi Industries Bhd has announced the disposal of its furniture factory land in Muar to Bripanel Industries Sdn Bhd, a wholly-owned subsidiary of Dominant Enterprise Bhd, for RM23.5 million.
Magni-Tech Industries Bhd reported a 24% increase in net profit for its latest quarter, thanks to a rise in sales orders and higher forex gains.
Sapura Resources Bhd reported a net loss of RM801,000 for its third quarter ended Oct 31, 2025 (3QFY2026) compared with a net profit of RM3.14 million a year earlier, due to the absence of one-off gains.
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| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.105718 | 4.139582 |
| EUR | 4.795482 | 4.806286 |
| CNY | 0.583656 | 0.584395 |
| HKD | 0.527377 | 0.531733 |
| SGD | 3.169746 | 3.195951 |