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KLCI Edges Higher on Late Buying Momentum
Thu, 08-Jan-2026 07:53 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI advanced 0.27% to close at 1,676.83 on Wednesday, supported by a late rebound on buying interest in selected blue-chip stocks. However, market breadth turned negative, with 513 gainers falling short of 564 decliners. On a sectoral basis, Plantation (+1.29%), Construction (+0.87%) and Consumer (+0.40%) outperformed, while Healthcare (-0.26%), Property (-0.24%) and Telecommunications & Media (-0.20%) were the main laggards.

 

Global Markets Review: Wall Street closed mixed overnight, with the Dow (-0.94%) and S&P 500 (-0.34%) declining, while Nasdaq (+0.16%) registered modest gains. Investors weighed weaker-than-expected US JOLTS job openings ahead of Friday’s nonfarm payrolls report, alongside news of a proposed deal to send Venezuelan crude oil to the US. In Europe, the Stoxx 600 (-0.05%) and FTSE 100 (-0.74%) edged lower, as logistics lagged despite gains in defence and industrials. Asian markets were mixed, with the Nikkei 225 (-1.06%) and Hang Seng (-0.94%) sliding, while the Kospi (+0.57%) was supported by Hyundai Motors (+13.8%) following its announcement to deploy humanoid robots at US factories. 

 

Market Outlook. We expect the FBM KLCI to trade cautiously as investors continue to monitor global geopolitical developments, including US plans to control Venezuelan oil exports and renewed rhetoric of US interest in Greenland. In addition, buying interest in selected counters may be supported by continued optimism in global technology sector. Meanwhile, following the weaker-than-expected ADP and JOLTS jobs prints, investors will focus on Friday’s nonfarm payrolls for clues on the Fed’s rate-cut trajectory.

 

Sector focus. We maintain a positive view on power-ancillary and renewable energy stocks, supported by stable demand and long-term energy transition initiatives. Consumer staples remain defensive, backed by resilient domestic consumption and government financial aid set to begin as early as 9 Jan 2026. We are also constructive on technology stocks, driven by continued global demand for AI-related solutions and digitalisation trends.

 

FBMKLCI Technical Outlook

 

Technical Commentary: The FBM KLCI recovered from early dips to end the session higher. 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)

Vantris Energy Bhd secured two offshore transportation and installation work orders from PETRONAS Carigali worth RM1.4 billion for the Sepat and Belud South projects, with completion expected by 2029 and 2027, respectively.

 

Tien Wah Press Holdings Bhd’s JV with Lum Chang is entering the data centre business in Petaling Jaya, with LCTWP providing land and core-shell construction while MyTelehaus handles approvals, fit-out, and operations under a 30-year lease.

 

LGMS Bhd obtained regulatory approval to transfer its listing from the ACE Market to the Main Market.

 

Hibiscus Petroleum Bhd’s Teal West field in the UK saw 2P reserves rise 32% to 4.5 million barrels, with subsea installations starting in early 2Q2026 and first oil targeted by mid-2026.

 

Paragon Union Bhd formed a JV with Japan’s Asahi Seiren to establish Paragon Asahi Seiren Sdn Bhd, targeting the recycled aluminium market in Southeast Asia, with Paragon holding 60%.

 

Oriental Interest Bhd is acquiring 68.12 acres in Bukit Raja for RM80.77 million via its 70%-owned unit Myra Land Sdn Bhd to expand its Selangor landbank.

 

Sentiment: Positive
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Market Mover
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EUR 4.740271 4.749917
CNY 0.581709 0.582305
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