Opening Daily Highlight
Local
Cautious Sentiment Persists
Mon, 29-Jun-2026 07:17 am
by Research Team • Apex Research

Malaysian Market Review. The FBM KLCI edged 0.24% higher to 1,667.74 on Friday, ending the week on a subdued note even as the index outperformed a broadly weaker regional market. Market breadth, however, stayed negative, with 345 advancers against 720 decliners, reflecting cautious investor sentiment. Sector-wise, Financial Sector (+0.33%), Plantation Sector (+0.39%) and Utilities were the only gainers, while Technology (-3.53%) and Property (-1.57%) were the main laggards. 

Global Markets: U.S. equities ended little changed on Friday, with the Dow Jones Industrial Average (-0.09%), S&P 500 (-0.05%) and Nasdaq Composite (-0.24%) all hovering near flatline, as a sharp sell-off in semiconductors, led by ON semiconductor, Western Digital, and Micron, was largely offset by strength in software and healthcare names such as ServiceNow, Salesforce, Eli Lilly and Moderna. The chip weakness carried into Asia, where losses were sharpest in the heavily semiconductor-weighted markets of South Korea’s KOSPI (-5.81%) and Japan’s Nikkei 225 (-4.15%), while Hong Kong’s Hang Seng Index (-1.76%) and Indonesia’s JCI (-1.72%) also closed lower. European equities likewise retreated, with the STOXX Europe 600 (-0.68%) and FTSE 100 (-0.21%) ending in the red (CNBC).

Market Outlook. Market sentiment is likely to remain cautious in the near term as investors digest the global sell-off in semiconductor and chip-equipment names. While the rotation out of AI hardware could keep technology-related counters volatile, structural demand for AI and data center investments is expected to remain intact. Attention now turns to a heavy U.S. data week, including the ISM manufacturing print and non-farm payrolls, which will shape expectations for the Federal Reserve’s policy path; with price pressures still elevated, the Fed is expected to maintain a cautious stance on interest rates. Domestically, Malaysia’s growing role as a regional AI infrastructure hub, resilient investment activity and Bank Negara Malaysia’s measures to support the ringgit should continue to underpin sentiment, although resumed fund outflows and political uncertainty ahead of the general election may cap near-term upside.

Sector focus. Financial Services could remain resilient, with major banks among the firmer performers on Friday despite near-term political uncertainties. Technology, the weakest sector on Friday, is likely to stay under pressure as the global semiconductor sell-off filters through to Bursa-listed chip and EMS names. The transportation & logistics sector could see benefit from easing fuel costs if crude oil prices remain subdued, with Aviation counters set to benefit most. While Energy-related counters may continue to face selling pressure amid weaker oil prices.
 

Technical Commentary: Despite the mild-rebound on Friday, the FBM KLCI remains below its double top pattern. In addition, the index remains below its key short-term moving averages, with the 9-, 20- and 120-day EMAs clustered at 1,683-1,694 and the 200-day SMA at 1674, keeping near-term momentum to the downside. Immediate resistance is seen at the 1,680 neckline, followed by the 1,683-1,694 moving average cluster. The cautious tone continues to reflect broader concerns surrounding the upcoming election cycle.

Company News 
Rohas Tecnic Bhd said that the MACC has revoked all seizure orders imposed on the bank accounts of its subsidiary, HG Power Transmission Sdn Bhd (HGPT), and the personal bank accounts of the unit’s current and former officers as of June 26. (The Edge)

Pentamaster Bhd said that UK-based Ocado Group plc has permanently dropped its 2024 patent infringement suit against the group and its units. The dispute originated from allegations by Ocado that the company had infringed on its patents relating to warehouse automation and robotics. (The Edge)

Bermaz Auto Bhd and Chongqing China Automobile have agreed to mutually terminate their agreement to distribute Deepal-branded electric vehicles in Malaysia after failing to finalise the commercial terms. (The Edge)

Silver Ridge Holdings Bhd's has announced the resignation of three board members including group managing director Datuk Khoo Yik Chou effective Friday (June 26) as part of the telecommunication infrastructure installer’s succession planning and leadership transition. (The Edge)

GIIB Holdings Bhd has signed an MOU to explore a potential equity investment in traditional Chinese medicine distributor Tricrest Foodie Trading Sdn Bhd. With GIIB expecting to finalize a definitive agreement within 90 days. (The Edge)

Vestland Bhd has won a construction contract worth RM135 million from Golden Armani Sdn Bhd involving superstructure works for one block of nine-storey factory and related facilities in Bukit Raja. (The Edge)

Econpile Holdings Bhd has bagged a RM48.8 million piling contract for a 74-storey serviced apartment project at Jalan Pavilion. The project is slated for completed within 16 months, with site operations commencing on July 7 and targeted completion in November 2027. (The Edge)

Axis Real Estate Investment Trust is acquiring a Selangor distribution centre from City-Link Express for RM128 million in a sales-and-leaseback agreement. With City-Link remaining the sole tenant under a new 15-year lease. (The Edge)

AYS Ventures Bhd plans to sell its controlling stake of 74% in Singapore-based Steelaris Pte Ltd in a deal valued at S$6.3 million (RM19.91 million) to CosmoSteel Holdings Pte Ltd, which would give CosmoSteel a 90% stake in Steelaris upon completion. (The Edge)

Jentayu Sustainables Bhd has announced its exit from the healthcare business, selling its hospital operations for RM1.75 million to focus on its core renewable energy business. (The Edge)

Systech Bhd is proposing to change its name to WTS Capital Bhd and undertake a RM40 million share capital reduction exercise. (The Edge)

PJBumi Bhd proposed a one-for-five share split to improve trading liquidity and broaden its investor base by lowering the trading price of its shares. (The Edge)

At Industronics Bhd’s AGM, shareholders have rejected three of nine ordinary resolutions tabled. The rejected resolutions include proposals to approve directors’ fees, the re-election of independent non-executive director Chow Yun Cheung, and the proposed payment of RM439,000 in director fees. (The Edge)

United Malacca Bhd’s net profit for 4QFY26 was largely flat at RM23.17 million, as increased revenue from its Malaysian and Indonesian operations was offset by impairment charges and a higher effective tax rate. Full-year net profit surged 50% to RM144.68 million driven by solid revenue growth across Malaysia and Indonesia, despite flat fourth-quarter earnings. (The Edge)

Insights Analytics Bhd has reported a net profit of RM41.47 million on revenue of RM172.57 million for the financial year ended April 30, 2026. This is the Sarawak-based technology company's first full-year results since its listing on the ACE Market. (The Edge)
 

Sentiment: Neutral
Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.070801 4.103424
EUR 4.659480 4.664320
CNY 0.600600 0.601225
HKD 0.519305 0.522959
SGD 3.148058 3.170285