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FBM KLCI Rises Amid Mixed Global Cues
Tue, 03-Feb-2026 07:44 am
by Research Team • Apex Research

Market Review & Outlook

Malaysia Market Review: The FBM KLCI advanced 0.58% on Friday, driven by gains in banking stocks despite cautious broader market sentiment and mixed regional cues. Meanwhile, lower liners closed mixed. Sector wise, gains were led by Finance (+1.77%) and Telecommunications & Media (+1.68%), while Construction (-1.39%) and Utilities (-0.78%) were the main laggards. 

 

Global Markets. Wall Street closed higher on Monday, with the Dow (+1.05%), S&P 500 (+0.54) and Nasdaq (+0.56%) advancing as it shook off AI trade worries while earnings flooded in, despite lingering Federal Reserve uncertainty. In Europe, equities also closed higher as the sell-off in spot gold continued. Asian markets, however, ended in the red. Japan’s Nikkei 225 fell 1.25% as losses in technology and resource stocks outweighed early gains from a weaker yen. China’s Shanghai Composite declined 2.48% following disappointing manufacturing data and signs of deteriorating fiscal revenue growth, while Hong Kong’s Hang Seng slid 2.23%, dragged by technology stocks.

 

Market Outlook. Global markets were mixed as investors continued to assess US macro data and ongoing earnings releases, with the Institute for Supply Management’s manufacturing index showing that US factory activity expanded for the first time in a year in January. Against this external backdrop, the FBM KLCI is expected to trade range-bound in the near term, as investors remain selective amid mixed regional cues. Buying interest is likely to centre on high-yield and earnings-visible names, particularly within the banking sector, while selective consumer plays may see interest on expectations of improving domestic demand. However, upside may be capped by cautious foreign positioning and lingering global market volatility.

 

Sector focus.We favour the consumer sector, supported by ringgit strength that should ease imported cost pressures, alongside a tourism rebound under Visit Malaysia 2026 that is expected to lift domestic spending. Meanwhile, the banking sector remains attractive for its stable earnings visibility and resilient dividend yields.

 

FBMKLCI Technical Outlook

Technical Commentary: The FBM KLCI paused a two-day decline to end the last trading session above major moving averages. 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)

Carlo Rino Group Bhd has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia. 

 

GDB Holdings Bhd has secured two road construction contracts in Sarawak worth a combined RM121.4 million. 

 

Hartanah Kenyalang Bhd has secured its largest contract to date worth some RM275 million to build a prison in Sibu.

 

Harvest Miracle Capital Bhd is selling its plantation unit, Gemumi Multi Plantation Sdn Bhd, for RM51.6 million to Ree Fong Agriculture Sdn Bhd. 

 

Malakoff Corporation Bhd said the Energy Commission has given the nod for its three gas power plants with an aggregate capacity of 2,082MW to continue operations until Dec 31, 2029. 

 

MISC Bhd said a consortium comprising the company and Kawasaki Kisen Kaisha, Ltd has secured a 10-year time charter for a newbuild 12,000-cubic-metre liquefied carbon dioxide (LCO2) carrier. 

 

MTAG Group Bhd has proposed to acquire a parcel of 7.54-hectare vacant land in Johor Bahru for RM53.58 million in cash from Grand Focus Sdn Bhd to boost its manufacturing capabilities and production capacity. 

 

Pekat Group Bhd’s unit has secured a 21-year power purchase agreement from an industrial energy off-taker to develop a 25 megawatt solar photovoltaic (PV) facility with a 40MWh battery energy storage system (BESS) in Pahang, with the project valued at about RM239 million. 

 

SDS Group Bhd is buying a 14.3-hectare land in Johor Bahru for RM101.7 million from Kempas Green Development Sdn Bhd, a firm majority-owned by Toh Thim Leong, to build a new manufacturing facility. 

 

Steel Hawk Bhd's unit has secured RM41.34 million sub-contracts involving electrical infrastructure works for Tenaga Nasional Bhd. 

 

Westports Holdings Bhd’s net profit for the fourth quarter ended Dec 31, 2025 (4QFY2025) rose 6.4% to RM273.11 million as container revenue growth offset an increase in operating expenses. 

Sentiment: Neutral
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