Previous Day Highlights

22 January 2025 FBM KLCI closed higher due to sustained buying interest. The benchmark index was up 0.52% or 8.12 pts to close at 1,580.46. Majority of sectors were positive with construction (+2.0%), technology (+1.5%), and industrial products & services (+1.5%), leading the gains; while losers were seen in REIT (0.0%), and plantation (0.1%). Market breadth was positive with 665 gainers against 372 losers. Total volume stood at 3.43bn shares valued at RM2.63bn.

Major regional indices trended mixed. HSI gained 0.91%, to end at 20,106.55. SHCOMP dropped 0.05%, to close at 3,242.62. Nikkei 225 was up 0.32%, to finish at 39,027.98. STI slid 0.33%, to close at 3,795.37

Wall Street was higher with hopes for measured US trade policy. The DJIA was up 1.24%, to end at 44,025.81. Nasdaq surged 0.64%, to close at 19,756.78. S&P500 increased 0.88%, to finish at 6,049.23.

News For The Day

Keyfield completes installation of solar PV system

Keyfield International has completed its first solar photovoltaic (PV) system onboard its largest vessel, Keyfield Wisdom. The group said that the Keyfield Wisdom, a 500-men accommodation work barge, has been certified by the Malaysia Book of Records for hosting the most solar panels with battery storage on an offshore vessel. – The Edge Market

Alpha IVF 2QFY5/25 net profit up 24%

Alpha IVF Group’s 2QFY5/25 net profit increased 23.6% YoY to RM15.1m thanks to higher sales revenue from foreign patients. Indonesian patients are Alpha IVF’s largest clientele, contributing about 34.9% to its total revenue while patients from China contributed 25.2%. Beyond China, Alpha IVF further expanded in the Southeast Asia region with the establishment of a full-fledged IVF centre in the Philippines and a first satellite clinic in Indonesia, tapping into these rapidly growing markets. – The Edge Market

MNRB's 3QFY3/25 net profit rises 37%

MNRB Holdings’ 3QFY3/25 net profit rises 37% YoY to RM115.9m amid group’s insurance service earnings. MNRB did not declare any dividend for the quarter. The group maintained a cautiously optimistic outlook for its FY3/25 financial performance. - The Edge Market

UOA REIT's 4QFY24 rental income rises 8.5%

UOA Real Estate Investment Trust posted a 8.55% increase in net rental income for 4QFY24 on improved occupancy. UOA REIT attributed the higher gross rental income to an improved occupancy rate. Its portfolio’s occupancy rate was not disclosed in the filing. UOA REIT declared a final income distribution per unit of 3.24sen. - The Edge Market

KTI Landmark explores affordable housing project in KK

KTI Landmark is exploring a potential affordable housing project in Kota Kinabalu, Sabah, to be jointly developed with a state government agency. The project comprises developing 5,000 units of houses atop 57.25 hectares of land in Sepanggar district and the total estimated construction value of the project will be finalised upon the signing of the joint venture agreement. - The Edge Market

Pansar bags RM478m highway construction job

Pansar has secured a RM478m highway construction job from the Sarawak Public Works Department via invited tender. It is worth noting that the contract value exceeds Pansar’s current market capitalisation of RM291.4m. - The Edge Market

Our Thoughts

Wall Street surged as traders are betting that Trump will be less harsh on his tariff policies than initially feared as sentiment was further buoyed some solid corporate earnings growth. Meanwhile, the US 10-year yield eased to 4.574%. Over in Hong Kong, the HSI closed positively to above the 20,000 level as Trump’s delayed his tariff move but threatened to more tariffs if Beijing fails to agree on the TikTok proposal whereby 50% would be given to a US company. Back home, the FBM KLCI managed to end higher at the 1,580 mark but remains way off this year’s opening at around 1,630 underscoring that the local bourse is a good value proposition. In addition to this, Trump’s delayed tariff move may offer some optimism to regional markets hence expect prevailing bargain hunting activities to continue and expect the index to hover within the 1,580-1,595 range today.

Source: Rakuten Research - 22 Jan 2025

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