Opening Daily Highlight
Mixed
Cautious Global Tone Ahead of FOMC
Tue, 09-Dec-2025 07:55 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI extended its decline, slipping 0.23% to close at 1,612.78. Sentiment remained cautious as investors awaited the upcoming FOMC meeting and weighed the potential interest rate hike by the Bank of Japan. Market breadth was negative, with 738 losers outpacing 336 gainers. Most sectors ended in the red, led by Transportation & Logistics (-1.00%). Meanwhile, REIT (+0.47%) was the top gainer.

 

Global Markets Review: Wall Street closed lower on Monday, with the Dow (-0.45%), S&P 500 
(-0.35%) and Nasdaq (-0.14%) registering a marginal decline, as sentiment remained capped by the continued rise in the 10-year US Treasury yield. The benchmark yield has climbed this month despite growing expectations of an imminent rate cut, as investors assessed the inflation trajectory and its implications for the Fed’s easing cycle. In Europe, the Stoxx 600 was broadly unchanged (-0.07%), as investors stayed in wait-and-see mode ahead of the Fed’s policy decision this week. In Asia, Japan’s Nikkei 225 edged up 0.18% even as concerns over a potential BOJ rate hike later this month lingered. Meanwhile, China’s Shanghai Composite rose 0.54%, supported by upbeat trade data and renewed policy assurances from top policymakers to stabilise economic growth.

 

Market Outlook. Markets have largely priced in a 25-bp Fed rate cut at this week’s FOMC, though near-term volatility may persist as investors await clarity on the Fed’s 2026 policy trajectory. Still, expectations of an easing cycle and year-end window-dressing flows should continue to provide near-term support to the FBM KLCI. Meanwhile, regional cues remain mixed, with BOJ tightening risks and China’s policy support shaping Asia sentiment. 

 

Sector focus. We remain constructive on construction, power-ancillary and renewable-energy plays, underpinned by a firm macro backdrop, sustained data-centre demand and the ongoing energy transition. Selective interest is also expected in rate-sensitive and export-oriented names amid expectations of a US easing cycle.

 

FBMKLCI Technical Outlook

Technical Commentary: The FBM KLCI extended its pullback, forming a hanging man candlestick, which suggests upside hesitation. Indicators remain negative, with the MACD line trading below the signal line, while the RSI stays below 50. The next resistance is located at 1,660, while support is envisaged around 1,600.   

 

Company News (source: various)

Apex Healthcare Bhd's minority shareholders should accept the takeover offer by a consortium led by its major shareholder, said its independent adviser. 

 

Capital A Bhd has obtained the High Court's approval for its proposed RM2.74 billion capital reduction, paving the way for the distribution of AirAsia X Bhd shares to the company’s entitled shareholders.

 

MISC Bhd has secured a contract from PETRONAS Carigali Brunei Ltd to lease, operate and maintain a floating production unit for a natural gas project in Brunei.

 

Ramssol Group Bhd, via its wholly owned subsidiary Rider Gate Sdn Bhd, has been appointed by the Ministry of Transport (MOT) as the Road Transport Department’s (JPJ) authorised collection agent for motor vehicle ownership transfers, motor vehicle licence renewals and traffic summons payments.

 

JAG Capital Holdings Bhd, controlled by Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani, has raised its stake in MyNews Holdings Bhd.

 

Tanco Holdings Bhd has named CCCC Dredging Southeast Asia Sdn Bhd (CDSA) — a unit of China Communications Construction Company (CCCC) — as the proposed contractor for the Sea Port Component of its Smart AI Container Port (Midport) in Port Dickson, Negeri Sembilan.

 

SMRT Holdings Bhd is acquiring 1.69 million shares, representing a 37.5% stake in Singapore-based Novus Technologies Pte Ltd (NTPL) for S$7.09 million (RM22.48 million) to expand its IT and digital solutions portfolio. 

 

Perak Transit Bhd has proposed to establish a RM1.5 billion sukuk wakalah programme to fund its capital expenditure, working capital and other shariah-compliant corporate purposes.

 

LB Aluminium Bhd's net profit nearly tripled to RM22.03 million for its second quarter ended Oct 31, 2025 (2QFY2026), from RM7.64 million a year earlier, lifted by stronger earnings contributions from both its aluminium and property segments.

Sentiment: Negative
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