Opening Daily Highlight
Mixed
Risk Appetite Remains Intact
Tue, 13-Jan-2026 07:51 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI advanced 0.53% to close near a seven-year high of 1695.44, tracking positive US and regional markets as risk appetite improved. Market breadth was positive, with 641 advancers outpacing 467 decliners. Sector-wise, Property (+2.14%), Plantation (+2.00%) and Finance (+0.72%) outperformed, while Healthcare (-0.66%), Telecommunications & Media (-0.56%) and Technology (-0.43%) were the main laggards.

 

Global Markets. Wall Street closed higher on Monday, with the Dow (+0.17%) and S&P 500 (+0.16%) closing at a fresh record high, while the Nasdaq (+0.26%) advanced. Sentiment remained firmed as investors largely shrugged off news of a US Justice Department investigation into Federal Reserve Chair Jerome Powell. European equities mirrored the positive global tone, with the STOXX 600 (+0.21%) and FTSE 100 (+0.16%) closing firmer. Asian equities ended mostly higher, with the Nikkei 225 (+1.61%), Hang Seng Index (+1.44%) and KOSPI (+0.84%) posting gains. In contrast, Thailand’s SET (-0.95%) retreated, pressured by a sell-off in hospital stocks.

 

Market Outlook. Malaysian equities are expected to remain range-bound, tracking movements in US markets as investors continue to assess the Fed’s policy path. Political and geopolitical headlines, including renewed tariff threats on countries trading with Iran and concerns over Fed independence, have injected near-term volatility. Nonetheless, equity markets remain primarily driven by macro fundamentals, namely resilient growth and ample liquidity. With the upcoming earnings season and potential tariff-related legal developments on the horizon, volatility may stay elevated, though the overall market tone remains supportive.

 

Sector focus. We remain positive on selected power-ancillary and renewable energy counters, supported by consistent demand visibility and long-term energy transition trends. We also favour selective consumer staples, underpinned by resilient domestic consumption and government cash assistance. Meanwhile, oil & gas counters may experience near-term volatility, tracking global oil price movements amid heightened geopolitical risks and persistent tensions in Iran.

 

FBMKLCI Technical Outlook

Technical Commentary: The FBM KLCI extended its uptrend momentum after closing above all major moving averages. Indicators turned positive, with the MACD line trading above the signal line while the RSI remained above 50. The next resistance is located at 1,700, while support is envisaged around 1,640.     

 

Company News (source: various)

Sunway Bhd plans to acquire rival company IJM Corp Bhd in a cash-and-share deal worth over RM11 billion. Under the terms of the proposed deal, each 1,000 shares of IJM Corp entitles its holder to RM315 in cash and 501 Sunway shares worth RM2,835.

 

HE Group Bhd has secured a RM12.6 million contract to undertake power distribution system works for a Malaysia-based electronic products manufacturer. 

 

AwanBiru Technology Bhd has secured a second extension of its cloud framework agreement (CFA 1.0) with the government, under which it manages and delivers Google Cloud services to the government.

 

Telekom Malaysia Bhd said its joint venture with Nxera has secured a multi-year electricity supply for a planned data centre campus in Iskandar Puteri, Johor. The agreement with Tenaga Nasional Bhd provides 280MW for the data centre targeted for the first phase of commercial operations in 2026.

 

IGB Bhd's associates have disposed of UK-based assets, including the St Giles Hotel London, for a total of £220 million (RM1.2 billion).

 

Vantris Energy Bhd, formerly known as Sapura Energy Bhd, is disposing of its entire 40% equity interest in L&T-Sapura Shipping Pvt Ltd for a total consideration of about US$30.5 million (RM123.5 million), as part of its ongoing portfolio rationalisation to focus on core assets following the group’s financial restructuring.

 

Lianson Fleet Group Bhd has disposed of another anchor-handling tug and supply vessel for a cash consideration of US$10 million (RM40.65 million) to a buyer based in the United Arab Emirates.

 

JAKS Resources Bhd has agreed to sell its 100% stake in JAKS Solar Nibong Tebal (JSNT) to Sunview Group Bhd unit, Sunview Asset Management Sdn Bhd, for RM15 million in cash plus up to RM40 million owed by JSNT.

 

Favelle Favco Bhd is acquiring French crane manufacturer Seram Industries SAS for between €7.5 million and €10 million (RM35.6 million and RM47.5 million), cash. Seram is known for its patented hydraulic balancing crane system which reduces energy consumption and delivers efficient lifting solutions for the global recycling and industrial waste management sector.

 

For MyTech Group Bhd executive chairman Tan Sri Cheng Joo Teik’s 30 sen a share conditional takeover offer of shares he doesn’t own in the company, the independent adviser has deemed it ‘not fair and not reasonable’, and advised minority shareholders to reject the offer.

Sentiment: Positive
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