Opening Daily Highlight
Local
KLCI Firms on Global Tailwinds
Thu, 22-Jan-2026 11:17 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI advanced 0.40% on Wednesday, tracking strength from regional peers as foreign investors turned net buyers. Market breadth turned positive, with 614 advances outpacing 422 decliners, while lower liners mirrored the performance. Sector wise, Technology (+1.46%), Industrial Products (+1.03%) and Property (+0.86%) led gains, while Construction (-1.27%), Plantation (-0.40%) and Transportation & Logistics (-0.19%) were the main laggards.

 

Global Markets. Wall Street rebounded after President Trump dialled back tariff threats related to Greenland, boosting global risk sentiment. The Dow rose 1.21%, while the Nasdaq and S&P 500 gained 1.18% and 1.16%, respectively. Trump said a framework for a future Greenland deal had been formed and ruled out the use of force, easing geopolitical concerns. In the US, Fed independence remained in focus after Supreme Court Justice Brett Kavanaugh expressed scepticism that removing Fed Governor Lisa Cook would undermine the central bank’s autonomy. European markets were mixed, with the STOXX 600 edging down 0.02% while the FTSE 100 rose 0.11%, after EU lawmakers paused approval of the EU–US trade deal over sovereignty concerns. Asian equities closed broadly higher, supported by improved global risk appetite, led by gains in Thailand’s SET (+1.63%), Shenzhen Composite (+0.70%) and South Korea’s KOSPI (+0.49%).

 

Market Outlook. We expect the local bourse to trade with a constructive bias today, supported by improving global risk sentiment and steady domestic fundamentals. Investors will focus on Bank Negara Malaysia’s policy decision, where rates are widely expected to remain unchanged, providing near-term stability for equities. Externally, attention will turn to key US data releases, including final Q3 GDP growth, initial jobless claims and the Federal Reserve’s preferred core PCE inflation measure, which could offer further clarity on the Fed’s policy path. While data surprises may drive short-term volatility, sustained foreign interest and selective buying in earnings-visible large caps should continue to underpin the local market. 

 

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 rising data centre development.

 

FBMKLCI Technical Outlook

 

Technical Commentary: The FBM KLCI closed higher with a bullish marubozu candlestick after three consecutive sessions of losses, suggesting renewed buying interest. 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 

Sunway Bhd said it is proceeding with its takeover offer for IJM Corp Bhd, which is currently involved in an ongoing probe by the Malaysian Anti-Corruption Commission.

 

Meanwhile, IJM Corp Bhd said access to less than 10 of company bank accounts have been restricted by the MACC, and the move has no impact on the group’s day-to-day business operations.

 

Oil and gas services and equipment (OGSE) firm Carimin Petroleum Bhd has acquired a 19.5% stake in vessel builder Sealink International Bhd at above market price for RM39.98 million, making it the largest shareholder in the offshore marine services group. 

 

SMRT Holdings Bhd said only its one-off deployment revenue may face a potential slowdown amid rising competition, while existing long-term managed services contracts with Tenaga Nasional Bhd (TNB) remain unaffected and continue to be the group’s largest revenue contributor.

 

Binastra Corporation Bhd has secured a RM742.9 million contract for the main building works of a high-rise development in Johor Bahru.

 

Reneuco Bhd said Tenaga Nasional Bhd has terminated the power purchase agreement (PPA) between the two companies, with the Practice Note 17 company liable to pay a delay penalty of RM45 million to the national electricity utility.

 

Sabah-based port operator Suria Capital Holdings Bhd has appointed former Kota Belud Member of Parliament (MP) Datuk Seri Abdul Rahman Dahlan as its new independent and non-executive chairman, effective Wednesday (Jan 21).

 

Elridge Energy Holdings Bhd is expanding its regional biomass fuel footprint by securing a one-year biomass fuel supply agreement with Thailand-based Berkana Power Company Ltd.

 

KIP Real Estate Investment Trust net property income (NPI) rose 49.9% in the second quarter from a year earlier, bolstered by new assets.

 

Pantech Global Bhd reported a flat net profit for its third quarter as an uptick in revenue was offset by rising operating expenses.
 

Sentiment: Positive
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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.031003 4.062281
EUR 4.731470 4.739970
CNY 0.581107 0.581571
HKD 0.516925 0.520950
SGD 3.139226 3.163884