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Fri, 30-Jan-2026 07:56 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI extended its pullback on Thursday, falling 1.46% to close at 1,730.89, as profit-taking intensified following the strong rally earlier in the week. Most sectors ended lower, although REITs (+0.51%) and Property (+0.30%) bucked the broader weakness to close higher. 

 

Global Markets. US equities closed mixed on Thursday, as technology stocks came under pressure following megacap earnings that renewed concerns over the pace and returns of AI-related spending. The Nasdaq declined 0.72%, dragged by a sharp sell-off in Microsoft, while the S&P 500 eased 0.13%. In contrast, the Dow Jones edged marginally higher, supported by gains in non-technology stocks. In Europe, the STOXX Europe 600 declined 0.23% amid weakness in select large-cap names following mixed earnings. Asian markets were mixed. South Korea’s Kospi rose 0.98% to a fresh record high of 5,221.25, marking its third consecutive gain, led by chipmakers and financial stocks. Hong Kong’s Hang Seng Index advanced 0.51% after briefly breaching the 28,000 level, supported by Chinese property developers and commodity-related names. Mainland China was mixed, with the Shanghai Composite edging up 0.16% on selective buying, while Japan’s Nikkei was largely flat as gains in technology stocks were offset by a stronger yen.

 

Market Outlook. We expect the FBM KLCI to trade on a more cautious and consolidative note following recent profit-taking after the strong rally earlier in the week. Near-term sentiment has softened as investors adopt a wait-and-see stance after the Federal Reserve kept interest rates unchanged, with Chair Jerome Powell signalling that policy remains “in a good place” for now. The persistence of elevated gold prices, which continue to trade near record highs, alongside a softer US dollar, suggests ongoing demand for defensive positioning amid geopolitical risks and uncertainty surrounding the global outlook. Coupled with the pullback in US equities following megacap earnings, market sentiment is likely to remain cautious in the absence of fresh positive catalysts.

 

Sector focus.We continue to like MYR-denominated Consumer Products and Services, supported by a firmer ringgit. Meanwhile, higher silver and copper prices may pose incremental cost pressure on sectors with high exposure to these inputs.

FBMKLCI Technical Outlook

Technical Commentary: The FBM KLCI formed another bearish candle and pulled back towards 1,725 level. 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)

Bursa Malaysia Bhd reported an 11.7% YoY decline in 4QFY25 net profit to RM60.8m amid softer trading activity and higher expenses, despite a slight increase in revenue. A final dividend of 14 sen was declared, payable on Feb 27. For FY25, net profit declined 19.3% to RM250.2m. Management outlined its 2026 KPIs, including a higher ROE target of 27–30%, non-trading revenue growth of over 10% and a RM28bn IPO market capitalisation target, while reaffirming that lower free-float approvals for large IPOs do not pose concerns with MSCI.

 

KLCCP Stapled Group declared a record FY25 dividend of 47 sen per stapled security after delivering all-time high earnings. 4QFY25 net profit surged 55.3% YoY to RM669.3m, largely driven by fair value gains on investment properties, while full-year net profit rose 26% to RM1.28bn. Revenue growth was supported by stable retail performance at Suria KLCC and higher management services income.

 

Sunway Real Estate Investment Trust recorded a marginal YoY decline in 4QFY25 NPI to RM165.0m due to higher operating expenses, despite revenue rising 3.1%. A final DPU of 4.82 sen was declared, lifting FY25 DPU to a record 14.48 sen.

 

Pavilion Real Estate Investment Trust posted an 11.1% YoY increase in 4QFY25 NPI to RM149.8m, supported by rental contributions from newly acquired hotels and stronger performance at Pavilion Bukit Jalil. A final DPU of 5.03 sen was proposed, bringing FY25 DPU to 10 sen.

 

UUE Holdings Bhd slipped into a net loss of RM6.2m in 3QFY26 due to a one-off RM12.6m ESOS expense. Excluding the one-off, adjusted profit stood at RM8.5m, weighed by higher administrative costs and weaker margins from Singapore operations, despite revenue rising 30.4% YoY.

 

CTOS Digital Bhd recorded a 38% YoY jump in 4QFY25 net profit to RM44.6m, mainly driven by a RM17.9m one-off disposal gain. Revenue rose 14.5%, while a fourth interim dividend of 0.86 sen was declared. The group plans to accelerate investments in AI and advanced analytics.

 

Tasco Bhd posted a 29.0% YoY decline in 3QFY26 net profit to RM10.1m amid lower revenue, mainly due to weaker contributions from its international business solutions segment.

 

Sentoria Group Bhd said its stalled 204-acre Morib development will be taken over by Masteron Sdn Bhd for RM5.25m following the group’s inability to complete the project, with most proceeds used to settle creditor obligations.

 

Econpile Holdings Bhd secured a RM24m sub-contract for piling and substructure works on an 18-storey apartment project in Gombak, which is expected to contribute positively from FY26 onwards.

 

MCE Holdings Bhd won RM37.9m worth of contracts from Proton to supply electronics and mechatronics components, with production scheduled to begin in FY27 over an 84-month period.

Sentiment: Negative
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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