Malaysian Market Review. The FBM KLCI rose 13.85 points, or 0.83%, to close at 1,691.49 on Friday, up from Thursday's 1,677.64, boosted by a rebound in financial stocks and gains across regional markets, as Bank Negara Malaysia decided to hold the OPR at 2.75%, a second consecutive session of net foreign buying, and easing geopolitical concerns as oil prices stabilised amid continued US-Iran technical negotiations. Market breadth remained positive, with 661 advancers outpacing 432 decliners. Sector-wise, Plantation (+1.38%) posted the biggest gains, followed by Construction (+1.30%) and Property (+1.22%), while Energy (-0.66%) led the decliners, followed by Technology (-0.15%).
Global Markets: The Dow Jones Industrial Average added +0.29%, to 52,637.01, the S&P 500 rose +0.42% to 7,575.39, and the Nasdaq Composite rose +0.29% to 26,281.61, as Nvidia rose about +4% and Meta jumped about +6%, marking its best week since early 2024 after Bank of America maintained its buy rating and cited reports of an improving AI cost structure. These moves followed Thursday's rally, which was driven by cooling oil prices amid signs of potential U.S.-Iran negotiations, despite Trump's earlier statement that their ceasefire was over. Meanwhile, Europe STOXX 600 bounced back, closing +0.04% higher. In Asia, Japan's Nikkei 225 rose +1.2% and South Korea's KOSPI added +2.52% in choppy trade, while Hong Kong's Hang Seng rose +0.6%(CNBC).
Market Outlook. Wall Street closed the week at fresh highs on Nvidia and Meta's strength, while Asian markets extended their rebound as investors grew more comfortable shrugging off the latest US-Iran tensions, with easing oil prices signalling confidence that the standoff will stay contained rather than disrupt Hormuz shipping. For the KLCI, Friday's close above the 1,674 neckline, backed by a second straight day of net foreign buying, shows local sentiment catching up with the firmer external backdrop, aided by the Johor election now being behind us. Still, breadth remains mixed and the rally continues to be narrowly led, suggesting investors should remain cautious despite the improving external backdrop.
Sector focus. Resilient CPO prices could keep Plantation stocks in the spotlight, while lower aluminium prices may work in favour of Construction and Property counters. On the other hand, Energy-related stocks could face pressure amid the drop in crude oil prices.
Technical Commentary: The rebound above the 9-day and 20-day moving averages suggests that near-term sentiment has improved, although the FBM KLCI index remains below key resistance levels. While the immediate downside risk has moderated, the Double Top pattern remains valid unless the KLCI breaks decisively above 1,695. As long as the index is able to break above 1,695, further recovery towards 1,700 and 1,720 is likely. However, a break below the 1,674-neckline support would reaffirm the bearish setup and could trigger a decline towards 1,660.
Company News
Talam Transform Bhd shareholders rejected all 14 resolutions tabled at Friday's extraordinary general meeting (EGM) to remove its current board and appoint a fresh line-up, thwarting an attempt by a group of minority shareholders to seize management control. (The Edge)
Lim Seong Hai Capital Bhd is planning a mixed development with an estimated gross development value of RM1.91 billion in Subang Jaya after sealing an agreement to buy and develop 17.4 acres of land from Railway Assets Corporation (RAC) for RM197.9 million. (The Edge)
Malaysia's private healthcare overhaul is expected to benefit KPJ Healthcare Bhd the most in the near term, with Maybank Investment Bank saying in a research note that the hospital operator is well positioned to capture increased patient volumes from the rollout of MediAsas. (The Edge)
CelcomDigi Bhd has appointed former MISC Bhd chief executive officer Datuk Yee Yang Chien as its new independent and non-executive director. (The Edge)
Lianson Fleet Group Bhd is acquiring two Ultramax-class bulk carriers for US$52.32 million (RM213.2 million) in cash. (The Edge)
GFM Services Bhd has secured contracts worth RM148.2 million for maintenance works tied to the upcoming plant turnaround at the Pengerang Integrated Complex in Johor. (The Edge)
Advancecon Holdings Bhd has secured a RM121.66 million subcontract to undertake construction and related earthworks for an off-river storage facility for a water supply scheme development in Port Dickson, Negeri Sembilan. (The Edge)
Evergreen Max Cash Capital Bhd plans to transfer its listing to the Main Market from ACE Market as it has fulfilled requirements for the transfer, including the profit requirements and healthy financial position. (The Edge)
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| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.055899 | 4.084367 |
| EUR | 4.648401 | 4.653222 |
| CNY | 0.600003 | 0.600626 |
| HKD | 0.517371 | 0.521010 |
| SGD | 3.141076 | 3.163219 |