Opening Daily Highlight
Mixed
Tech-Led Risk Rebound
Fri, 16-Jan-2026 07:56 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI closed 0.25% higher to register a fifth straight day of gains, hovering above the 1,700 level. Performance was led by financial and utilities heavyweights, as investors remained selectively risk-on despite ongoing geopolitical overhangs. Nonetheless, market breadth was negative, with 501 advancers against 583 decliners. Sector-wise, Technology (+1.91%), Transportation & Logistics (+1.11%) and Finance (+1.07%) outperformed, while Healthcare (-0.99%) and Plantation (-0.93%) were the main laggards.

 

Global Markets. Wall Street rebounded overnight, with the Dow (+0.60%), S&P 500 (+0.26%) and Nasdaq (+0.25%) closing higher. Chip stocks led gains after Taiwan Semiconductor delivered another record quarter and flagged a sharp step-up in 2026 capex (USD52–56bn), reinforcing confidence in the AI investment cycle. TSMC jumped (+4.44%), lifting the broader semiconductor complex, including SMH (+2.11%) and Nvidia (+2.10%). Financials also outperformed on solid earnings, with Goldman Sachs (+4.63%) and Morgan Stanley (+5.78%) hitting fresh 52-week highs. European equities edged higher, with the STOXX 600 (+0.49%) and FTSE 100 (+0.54%) tracking the region’s chip-stock surge. Asian equities ended mixed, with the Nikkei 225 (-0.42%), and Hang Seng Index (-0.28%) edging lower, while the KOSPI (+1.58%) posted gains. 

 

Market Outlook. We expect the FBM KLCI to trade positively today, underpinned by improved global risk sentiment following a tech-led rebound on Wall Street. Comments from President Trump indicating that military action against Iran was not imminent helped ease near-term geopolitical risks, prompting a reversal in safe-haven positioning. Domestically, continued foreign inflows and the ongoing rotation into Asia should provide support for large-cap defensives and earnings-visible names, particularly financials, utilities and selected technology counters.

 

Sector focus. We favour domestic-oriented and defensive sectors such as consumer, power related, and renewable energy plays, which offer more resilient earnings backed by government initiatives supporting the clean energy transition and growing data centre development.

 

FBMKLCI Technical Outlook

Technical Commentary: The FBM KLCI ended higher at an intraday high, extending its rally for the fifth straight session. Indicators remained positive, with the MACD line trading above the signal line while the RSI remained above 50. The next resistance is located at 1,750, while support is envisaged around 1,685.     

 

Company News (source: various)

NexG Bhd said its external auditor has resigned after noting that the company’s board composition had changed significantly since its appointment just four months ago.

 

Kerjaya Prospek Group Bhd, which targets RM2 billion in order book replenishment for 2026, said its subsidiary Kerjaya Prospek (M) Sdn Bhd has secured its first contract for 2026 worth RM201.25 million from Greencove Sdn Bhd for a mixed development in Damansara Damai. 

 

ES Sunlogy Bhd said it has clinched a RM22.3 million subcontract to undertake electrical works for a high-rise serviced apartment development in Batu Kawan, Penang.

 

SkyGate Solutions Bhd is buying a Penang-based property investment company linked to its major shareholder for RM75.9 million in cash and shares.

 

Construction outfit SC Estate Builder Bhd has formalised an agreement to acquire a 25% interest in a non-operational hotel in Alor Setar for RM18.79 million from chairman Loh Boon Ginn’s mother in its push into property investment.

 

Infomina Bhd has reported a 2.6% rise in quarterly net profit and plans to distribute nearly all of its earnings as dividend.

 

Chin Hin Group Property Bhd has cancelled the RM74 million sale of its commercial vehicle and bodyworks businesses after the buyer failed to secure financing, delaying the group’s plan to fully focus on property development.

 

Vestland Bhd said it will not proceed with three Selangor affordable housing projects worth a total of up to RM550.69 million secured in 2022 from Splendid Forte Development Sdn Bhd.

 

Automotive light-emitting diode maker D&O Green Technologies Bhd has decided to shelve its plan to set up a new plant and will instead repay borrowings and boost the efficiency of its existing plants.

 

Pestec International Bhd has appointed Datuk Adam Yee Hee Hoon as president of the power grid and rail network engineering group, effective Thursday.

Sentiment: Positive
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