Opening Daily Highlight
Local
Wall Street Hits Record, KLCI Inches Along
Tue, 04-Aug-2026 07:17 am
by Research Team • Apex Research

Malaysian Market Review. The FBM KLCI rose 0.05% to 1,725.73 on Monday, as late buying in selected large-cap stocks offset broader profit-taking amid lingering geopolitical uncertainty. Despite the gains, market breadth was negative, as losers outpaced gainers 609 to 490. Industrial Products & Services (-0.76%), Energy (-0.24%) lagged, while Financial Services (+0.54%) and Plantation (+0.18%) led the sectoral gains.

Global Markets: U.S. equities rallied sharply on Monday, with the Dow Jones surging (+1.32%) to a record closing high of 53,178.41, the S&P 500 gaining (+1.48%) to 7,600.50 and the Nasdaq Composite jumping (+2.13%) to 25,913.90, as easing U.S.-Iran tensions and a stronger-than expected ISM Manufacturing PMI of 55.6 lifted sentiment. Oil prices tumbled more than 5% after President Trump called off planned strikes on Iran in favour of renewed diplomatic talks, while Big Tech and AI-linked chip names led the advance. In Europe, the STOXX Europe 600 added (+0.45%) to a record close at 652.09 points, buoyed by falling sovereign yields and a rebound in banking and insurance stocks. Across Asia, markets diverged sharply, with Japan’s Nikkei 225 slipping (- 0.94%) to 63,754.90 and South Korea’s Kospi tumbling more than 5% to 6,257.45, giving back much of Friday’s record rebound as investors reassessed the durability of the AI-driven rally in memory chip stocks (CNBC).

Market Outlook. We expect the FBM KLCI to trade with a positive bias today, supported by Wall Street's strong rally, improving global risk sentiment and the sharp decline in crude oil prices, which tumbled more than 5% following the easing of U.S.-Iran tensions. Investors will continue to monitor geopolitical developments, while attention is gradually shifting towards Wednesday's FOMC minutes and Friday's U.S. non-farm payrolls for further policy and economic signals. Overall, we expect improving external sentiment to underpin buying interest, although stock selection is likely to remain driven by the ongoing earnings season.

Sector focus. We expect the Technology sector to remain volatile this week amid mixed regional semiconductor performance, while Energy and transport-related counters may benefit from lower crude oil prices following the easing of U.S.-Iran tensions. Financial Services could continue to draw support from improving market sentiment.

FBMKLCI Technical Outlook

Technical Commentary: The FBM KLCI closed at 1,725.73 on Monday, holding steady above its EMA9, EMA20, EMA120 and SMA200, indicating that the near-term bullish momentum remains intact despite the narrower gains. The index continues to edge towards the 1,735 resistance level, with a decisive breakout above this level likely to reinforce buying interest and open the door to the 1,760–1,770 resistance zone. On the downside, 1,700 remains the immediate support, followed by 1,680 should profit-taking emerge.

Company News

Malayan Banking Bhd is acquiring the remaining 30.95% stake in Etiqa's holding company, Maybank Ageas Holdings Bhd, from Belgian insurer Ageas SA for RM4.83 billion, giving Malaysia's largest lender full ownership of its insurance and takaful business. (The Edge)

Sunway Construction Group Bhd has secured an engineering contract worth RM1.02 billion for a data centre project in Johor. (The Edge)

Press Metal Aluminium Holdings Bhd said it is buying its controlling shareholders’, the Koon family, 35.6% stake in listed associate PMB Technology Bhd for RM464.95 million in cash. (The Edge)

Bintulu Port Holdings Bhd has appointed former Petroliam Nasional Bhd (PETRONAS) executive Anuar Ismail, 57, as its new group CEO, effective Aug 17, 2026. (The Edge)

Pestec International Bhd said its external auditor in the audited financial statements of Pestec for the financial year ended March 31, 2026 (FY2026), particularly on RM50.31 million in contract assets. (The Edge)

Nestcon Bhd has secured a RM74.52 million contract to build an affordable apartment project in Kwasa Damansara township in Sungai Buloh, Selangor. (The Edge)

AMS Advanced Material Bhd has secured the necessary licences to commence its aluminium scrap business. The approvals allow it to begin collecting, processing and selling aluminium scrap materials through its wholly owned subsidiary, AMS Ecogreen Sdn Bhd, it said (The Edge)

LYC Healthcare Bhd faces a trading suspension from Aug 10 if it fails to submit its overdue annual report for the financial year ended March 31, 2026 (FY2026), by this Friday (Aug 7). (The Edge)

Aldrich Resources Bhd said its indirect wholly owned subsidiary, Proficient Premium Sdn Bhd (PPSB), has obtained approval from the Housing and Local Government Ministry to conduct online money lending business. (The Edge)

MMM Group Bhd plans to appeal against Bursa Securities’ decision to reject its proposed regularisation plan to exit Practice Note 17 (PN17) status for financially distressed companies. (The Edge)

Khee San Bhd said all of the company's outstanding debt to creditors has been settled, following the completion of its regularisation plan earlier this year. (The Edge)

 

Sentiment: Positive
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 4.075074 4.107717
EUR 4.687639 4.692403
CNY 0.605303 0.605923
HKD 0.519707 0.523362
SGD 3.161063 3.183454