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Wed, 28-Jan-2026 07:53 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI extended its rally on Tuesday, rising 1.56% to close at a fresh multi-year high of 1,771.25, underpinned by sustained foreign buying and broad-based strength in blue-chip stocks. Most sectors closed higher, led by Finance (+2.44%) and Industrial Products (+1.49%), while only Transportation & Logistics (-0.95%) and REITs (-0.78%) ended in the red.

 

Global Markets. Wall Street closed mixed overnight, with the Nasdaq (+0.91%) and S&P 500 (+0.41%) rising on strength in technology stocks ahead of key megacap earnings and the Federal Reserve’s policy decision, while the Dow (-0.83%) was weighed down by a sharp sell-off in UnitedHealth following weaker-than-expected Medicare rate guidance. In Europe, the STOXX 600 advanced 0.58%, led by gains in bank stocks. Asian markets were broadly higher, led by South Korea where equities hit fresh record highs despite renewed tariff threats from US President Trump. The Nikkei 225 advanced 0.85%, supported by strength in technology stocks as the yen pared earlier gains.     

 

Market Outlook. Market sentiment has strengthened in recent sessions, supported by sustained foreign inflows, improving market breadth and firmer blue-chip performance, lifting the FBM KLCI to fresh multi-year highs. This resilience has persisted despite ongoing geopolitical uncertainties, as the firmer ringgit, which has strengthened to a seven-year high of around USD/MYR 3.95, continues to support domestic risk appetite. In the near term, we expect market momentum to be maintained, although investors may remain cautious ahead of the US Federal Reserve’s policy decision and guidance on the timing of potential rate cuts. Attention will also turn to a heavy slate of Big Tech earnings, including results from Microsoft, Meta and Tesla on 28 January, followed by Apple on 29 January, which could shape broader market sentiment and risk appetite.

 

Sector focus.With macro conditions and risk appetite improving, domestically focused blue-chip stocks in the consumer and construction sectors are likely to remain in focus. We also favour utilities and renewable energy, supported by the ongoing clean energy transition.

Sentiment: Positive
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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.933829 3.961479
EUR 4.698393 4.703614
CNY 0.567464 0.568085
HKD 0.503784 0.507349
SGD 3.099708 3.121871