Malaysian Market Review. The FBM KLCI rose 0.37% to close at 1,715.13, as Bank Negara Malaysia's widely expected decision to hold the OPR steady at 2.75% for a seventh consecutive meeting removed a near-term overhang, with positive carry-over from Wall Street's overnight rally also supporting sentiment. Market breadth turned positive, with advancers leading decliners 625 to 497. Construction (+3.06%) and Healthcare (+1.08%) led sectoral gains while Telecommunications & Media (-1.10%) and REIT (-0.90%) lagged.
Global Markets: Wall Street surged on Thursday, with the Dow up 1.18% to 53,686.11, the S&P 500 gaining 1.06% to 7,747.71, and the Nasdaq rising 1.40% to 26,584.06, their best session since early August. Fed Governor Christopher Waller's dovish signal that he could support keeping rates steady in September reduced the odds of a rate hike to 50%, from 63%, while Nvidia's USD$12.9b Hugging Face acquisition lifted tech sentiment further. European markets followed through, with the STOXX Europe 600 up 0.49% to 649.10 on firm eurozone business activity data. Asian markets were mixed on Thursday, with the Shanghai Composite little changed at +0.02%, the Hang Seng down 0.39%, and the Nikkei 225 off 0.17%, even as easing Fed rate expectations offered some support. (CNBC).
Market Outlook. Risk appetite improved sharply on Thursday as Fed Governor Waller's dovish tilt and Nvidia's Hugging Face acquisition drove Wall Street to its best session in a month, even as Iran's retaliatory strikes on US allies in Jordan, UAE and Kuwait kept oil above $95 a barrel. Investors will now turn to Friday's US non-farm payrolls, the week's key data point, for further clarity on the Fed's September decision. Barring a fresh flare-up in the Middle East, we expect the FBM KLCI to extend its rebound into Friday, with the improved global risk tone and this week's steady OPR decision providing a supportive backdrop even as earnings season continues to drive individual stock performance.
Sector focus. Technology bears watching into Friday after Nvidia's $12.9 billion Hugging Face deal lifted global chip sentiment. Energy remains in focus with Brent still above $95 a barrel on the Gulf escalation. Construction bears watching for further follow-through as AI and data centre investments continue to drive demand for infrastructure and related construction works. Meanwhile, we believe the recent sell-off in banking stocks may have been overdone and warrants closer monitoring.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI extended its rebound for a second straight session to close at 1,715.13 on Thursday, though it again fell short of the 1,720-1,730 resistance zone flagged in our previous note, with yesterday’s high of 1,716.23 still well below that ceiling, keeping the broader downward channel intact. A decisive break above 1,720-1,730 would be needed to challenge the more significant 1,750-1,760 resistance, while a slide back below 1,700 would reopen the path towards 1,685. The two-day bounce looks to be gaining some traction, though we still view it as a relief rally until 1,720-1,730 is convincingly cleared.
Company News
Zetrix AI Bhd has not set the issue price for new shares that will make up most of the RM130 million payment for its planned purchase of a 50% stake in MyEG Ventures Inc, citing recent volatility in its share price. (The Edge)
Farm Fresh Bhd plans to raise up to RM200 million via private placement to fund capital expenditure and meet a shareholder buyout obligation at its ice‑cream unit Inside Scoop. (The Edge)
Techna‑X Bhd is disposing of its 50% stake in Hong Kong‑based HK Aerospace Beidou New Energy Technology Co Ltd (HKAB), a loss‑making super battery and capacitor maker, for RM45 million cash to support its restaurant expansion funding. (The Edge)
Alam Maritim Resources Bhd has appointed Datuk Aloysius Albert Michael as senior strategic adviser effective Sept 3. (The Edge)
PRG Holdings Bhd has been placed under interim judicial management by the Kuala Lumpur High Court following a boardroom dispute and debt conflict with its largest shareholder, Datuk Ng Yan Cheng (The Edge)
Niche Capital Emas Holdings Bhd said its joint partner Greensnow Consolidated Bhd (GCB) has secured an interim manufacturing licence from the Ministry of Investment, Trade and Industry (Miti). (The Edge)
Sersol Bhd has named Datuk Faizal Abdullah as independent and non‑executive chairman, part of a board refresh following several director exits. (The Edge)
Salutica Bhd announced the resignation of its principal officers as the Lim family exited the board and ceased to be substantial shareholders on Sept 3. (The Edge)
Media Chinese International Ltd plans to sell its Canadian property for C$6.85 million (RM19.88 million) after ending media operations there. (The Edge)
Globetronic Technology Bhd said its non‑executive chairman Ta Shun Dher has become a substantial shareholder after acquiring 8.91 million shares, equal to a 1.14% stake, on Sept 1. (The Edge)
Orgabio Holdings Bhd plans to buy a freehold industrial property in Semenyih, Selangor for RM11.26 million cash. (The Edge)
Magni‑Tech Industries Bhd reported a 17% drop in 1QFY2027 net profit to RM29.4 million from RM35.6 million a year earlier, mainly due to weaker garment contributions. Revenue fell 15.6% year‑on‑year to RM318.6 million from RM377.6 million. (The Edge)
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| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.026714 | 4.058098 |
| EUR | 4.686569 | 4.694914 |
| CNY | 0.601184 | 0.601664 |
| HKD | 0.513452 | 0.517453 |
| SGD | 3.173308 | 3.198167 |