Market Review & Outlook
Malaysia Market Review: The FBM KLCI closed 0.20% lower, dragged by profit-taking in heavyweights such as IHH and PMETAL as investors stayed cautious ahead of the Federal Reserve’s interest rate decision. Market breadth, however, was positive with 522 gainers versus 467 decliners. Sector performance was mixed, with healthcare (-1.41%) leading the decliners, while Technology (+1.19%) emerged as the top gainer.
Global Markets Review: Wall Street closed higher on Wednesday, with the Dow (+1.05%), S&P 500 (+0.67%) and Nasdaq (+0.33%) advancing after the Federal Reserve delivered a 25-bp rate cut in its final policy decision of the year. Sentiment was further supported by the Fed’s positive assessment of US economic growth. In Europe, the STOXX 600 edged up 0.14%, as investors parsed a slate of corporate announcements while maintaining a measured stance ahead of the Fed decision. In Asia, Japan’s Nikkei 225 inched down 0.10%, while South Korea’s KOSPI fell 0.21%. Meanwhile, China’s Shanghai Composite slipped 0.23%, as investors digested the latest China inflation data, which reinforced concerns over subdued price pressures.
Market Outlook. The Fed’s 25-bp rate cut and Chair Powell’s reassurance on the inflation and growth outlook provide a supportive near-term backdrop for risk assets, although investors will likely stay selective as markets assess the Fed’s easing path going into 2026. Locally, sentiment should stay measured amid ongoing profit-taking in index heavyweights, even as positive market breadth and Technology sector leadership point to range-bound trading for the FBM KLCI in the near term.
Sector focus.We remain constructive on selective power-ancillary and renewable energy counters, supported by structural tailwinds from the ongoing energy transition. These secular themes are expected to remain resilient despite prevailing global trade headwinds.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI slipped into negative territory as it printed a neutral candlestick, hinting at a brief cooling in market momentum. 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)
Gamuda Bhd posted a 5% rise in net profit for the first quarter ended Oct 31, 2025 (1QFY2026), boosted by stronger contributions from domestic construction projects and property developments in Vietnam.
Astro Malaysia’s 3QFY2026 net profit fell to RM9.19 million from RM46.94 million a year earlier, dragged by higher financing and operating costs, plus unrealised forex losses on unhedged lease liabilities.
Eco World Development Group Bhd is raising its sales target to RM4 billion for the new financial year after reporting record earnings.
Sunsuria Bhd is raising its stake in KL City Gateway (KLCG), the developer of the Kampung Sungai Baru redevelopment, to 61% by acquiring an additional 41% for RM21.46 million.
MyNews Holdings Bhd said its public shareholding spread has dipped to 24.925%, falling 0.075% short of the required 25%, following a stake increase by its second-largest shareholder, JAG Capital Sdn Bhd.
Ipoh-based ICT provider SNS Network Technology Bhd posted a largely flat 3QFY2026 net profit of RM10.09 million versus RM10.2 million a year earlier, as higher selling, distribution and administrative expenses were offset by a RM6.85 million impairment reversal.
Bermaz Auto Bhd posted a 57% drop in 2QFY2026 net profit to RM17.2 million from RM40.3 million a year earlier, citing lower sales of certain Mazda and Kia models, and stiff competition from low-priced Chinese-made vehicles.
Cheeding Holdings Bhd has secured a RM13.5 million contract from Tenaga Nasional Bhd for extension works at the Genting Sempah substation.
Chin Hin Group Bhd has sold a 6.83% stake in its subsidiary Signature International Bhd for RM59.99 million, netting a disposal gain of RM34.18 million.
BMS Holdings Bhd managing director Ang Kwee Peng and executive director Lee Kok Chuan boosted their shareholdings in the company, a day after its dismal ACE Market debut.
Disclaimer
The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.
Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.
Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.
| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.095157 | 4.126734 |
| EUR | 4.808018 | 4.811741 |
| CNY | 0.582345 | 0.582796 |
| HKD | 0.526309 | 0.529879 |
| SGD | 3.164796 | 3.186440 |