Malaysia Market Review: The FBM KLCI started the week on a positive note, rising 0.2% on Monday to close at 1,681. Late buying interest in selected heavyweights lifted the broader market, with TENAGA leading gains amid year-end window dressing activity. Sector performance was mixed, with REIT (+0.7%), Construction (+0.3%) and Plantation (+0.3%) posting gains, while Property (-0.6%) and Healthcare (-0.6%) were the main laggards.
Global Markets Review: Wall Street closed lower on Monday, dragged by a sell-off in technology stocks. The Dow and S&P 500 fell 0.5% and 0.4% respectively, extending last Friday’s decline after hitting record highs last week, while the tech-heavy Nasdaq slipped 0.5%. Among major tech names, Oracle (-1.3%), Nvidia (-1.2%) and Meta Platforms (-0.7%) declined as risk sentiment softened. In Europe, the STOXX 600 edged up 0.1%, with gains in consumer stocks largely offset by a pullback in defence stocks, as investors monitored developments surrounding Ukraine peace talks over the weekend. Asian markets were mixed, with the Hang Seng (-0.7%) and Japan’s Nikkei 225 (-0.4%) closing lower, while Korea’s KOSPI rose 2.2%.
Market Outlook. We expect the FBM KLCI to extend its “Santa Claus rally” with a mild upward bias today as equities enter the final trading days of the year. Year-end institutional rebalancing should continue to favour heavyweight and domestically driven names, providing support for the broader market. That said, lower liners may face some pressure amid thin liquidity during this holiday-shortened week. Globally, while there are no major economic releases, attention will turn to the release of the FOMC minutes on Wednesday for further clarity on the Fed’s policy outlook. Prevailing expectations of a Fed easing cycle should support sentiment heading into 2026.
Sector focus. We remain positive on selective power-ancillary and renewable energy names, underpinned by long-term energy transition trends that support earnings resilience and ongoing investor rotation amid prolonged global trade uncertainty. While near-term volatility in the global technology sector may persist, the underlying AI theme remains intact heading into next year, which should continue to benefit selected local technology and AI-related stocks.
Technical Commentary: FBMKLCI extended its uptrend, staging a bullish continuation move despite yesterday’s shooting-star formation. Indicators remained positive, with the MACD line trading above the signal line and the RSI remaining above 50. The next resistance is located at 1,700, while support is envisaged around 1,640.
Company News (source: various)
Kim Loong Resources Bhd’s net profit for the third quarter ended Oct 31, 2025 (3QFY2026) slipped 12.2% to RM43.88 million from RM49.96 million a year earlier, dragged by higher repair and maintenance costs at its palm milling operations.
Crescendo Corporation Bhd’s net profit for 3QFY2026 fell 31% to RM70.3 million compared to RM101.3 million a year earlier on the absence of one-off gains from data-centre-linked land sales at the Nusa Cemerlang Industrial Park recognised in 3QFY2025.
Infomina Bhd has secured a contract to provide software support services to Siam Commercial Bank Public Company Ltd for US$33.84 million (RM137.1 million).
Perdana Petroleum Bhd has secured two work order awards from PETRONAS Carigali Sdn Bhd for the provision of two anchor handling tug and supply vessels.
AwanBiru Technology Bhd has secured two contracts worth RM16.42 million from the Ministry of Higher Education to provide Google artificial intelligence tools to public universities.
Silver Ridge Holdings Bhd has accepted two subcontracts worth a total of RM10.86 million.
Powerwell Holdings Bhd is acquiring 49% stakes in a Kuching-based switchboard maker and seller, Tenaga Kenari Sdn Bhd (TKSB) and Tenaga Kenari Marketing Sdn Bhd (TKMSB), for RM16.66 million cash to grow in East Malaysia.
Hume Cement Industries Bhd has appointed William Tan Kok Siang as its group managing director, effective Jan 1.
Shin Yang Group Bhd has promoted its chief operating officer Richard Ling Peng Ling to chief executive officer (CEO), effective Jan 1.
Lembaga Tabung Haji has emerged as a substantial shareholder in automotive light-emitting diode (LED) maker D&O Green Technologies Bhd, after it bought two million shares, equivalent to a 0.16% stake, on Dec 26.
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| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.043919 | 4.078329 |
| EUR | 4.778652 | 4.785910 |
| CNY | 0.579618 | 0.580498 |
| HKD | 0.520471 | 0.524418 |
| SGD | 3.147680 | 3.171552 |