Market Review & Outlook
Malaysia Market Review: The FBM KLCI was stable on Thursday, slightly down 0.11% to close at 1,621.07. Selling pressure in selected utilities heavyweights was partly offset by gains in telecommunications counter. Overall sentiment remained muted as 541 gainers slightly outpaced 526 losers. Sector-wise, losses were led by REIT (-1.35%), Utilities (-0.94%) and Transportation & Logistics (-0.53%), while Energy (+1.08%), Telecommunications & Media (+0.40%) and Technology (+0.35%) were the top gainers.
Global Markets Review: Wall Street closed mixed overnight, with the Dow declining 0.07% while the S&P 500 (+0.11%) and Nasdaq (+0.22%) eked out modest gains. Despite jobless claims unexpectedly falling to a three-year low of 191,000 for the week ended 29 November, markets continue to price in an 87% probability of a 25-bp cut at next week’s FOMC meeting, according to CME FedWatch. In Europe, the Stoxx 600 rose 0.45%, supported by automaker and industrial counters. Asian markets ended mixed, with Japan’s Nikkei 225 climbing 2.33% on gains in industrial and technology shares, while China’s Shanghai Composite edged 0.06% lower.
Market Outlook. The year-end window-dressing activity may shift investor focus toward defensive large-cap counters, providing near-term support for the FBM KLCI. On the global front, attention turns to the September Core PCE release on Friday and next week’s FOMC meeting for further clues on the Fed’s rate trajectory heading into 2026. Prevailing expectations of a Fed easing cycle should help sustain foreign inflows into emerging markets, offering additional support to the domestic market. Nonetheless, any shift in expectations surrounding the Fed’s policy path could lead to intermittent volatility.
Sector focus. Key financial heavyweights, particularly banking names, may see support from year-end window-dressing activity as investors adopt a more defensive stance. Further out, expectations of a US easing cycle and a steady OPR outlook should lend strength to the ringgit, favouring domestic-oriented sectors such as consumer staples and REITs. We also maintain a constructive view on construction, power-ancillary and renewable-energy plays, backed by a stable economic outlook, sustained data-centre demand and the ongoing transition toward cleaner energy.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI retraced from its strong start of the session to finish weaker, logging another day of decline. 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)
DRB-Hicom Bhd has revised the purchase price for its proposed acquisition of the Malaysian business of aerospace manufacturer Spirit AeroSystems to US$110.62 million (RM455.5 billion), from US$109.8 million previously.
APB Resources Bhd's wholly-owned subsidiary has filed a claim with an arbitral tribunal against BASF PETRONAS Chemicals Sdn Bhd for alleged unpaid contract sums and payment for additional works.
Pharmaniaga Bhd has announced the acquisition of an industrial facility in Kota Kinabalu for RM26 million as part of its ongoing plan to strengthen its logistics and distribution capacity.
Al-Aqar Healthcare Real Estate Investment Trust (Al-Aqar REIT) is expected to record a disposal loss from its planned divestment of non-performing property in Bukit Mertajam, Penang, for RM12 million — below both its market value and original investment cost.
Paragon Globe Bhd‘s wholly-owned unit, PGB Landmark Sdn Bhd, plans to sell a parcel of freehold land in Tanjung Kupang, Johor, for RM64.47 million to GSP Automotive Malaysia Sdn Bhd.
Haily Group Bhd has secured a RM42.85 million contract to construct 187 terraced houses and a substation in Kulai, Johor.
VS Industry Bhd is back in the black in 1QFY2026, as seasonally stronger sales and the reversal of impairment losses on trade receivables lifted it from a net loss position during the previous quarter.
Major shareholders of Jentayu Sustainables Bhd have rejected the company’s proposal to acquire a 100% interest in Jentayu Solar Sdn Bhd, a company owned by its managing director Datuk Beroz Nikmal Mirdin's investment vehicle, at its EGM on Thursday.
Destini Bhd has appointed former MRT Corp chief executive officer Datuk Seri Dr Shahril Mokhtar as executive director and added two new independent directors to its board.
Property developer and hospitality group Mulpha International Bhd announced that its CEO Gregory David Shaw has retired.
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| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.097077 | 4.130856 |
| EUR | 4.800240 | 4.806405 |
| CNY | 0.581645 | 0.582383 |
| HKD | 0.526592 | 0.530422 |
| SGD | 3.164464 | 3.187623 |