Previous Day Highlights

7 February 2025 FBM KLCI closed higher aligning with regional markets’ gains. The benchmark index was up 0.68% or 10.66 pts to close at 1,585.17. Majority of sectors were positive with transportation (+1.2%), construction (+0.8%), and industrial products & services (+0.8%), leading the gains; while losers were seen in REIT (-0.2%), and consumer (-0.1%). Market breadth was positive with 489 gainers against 388 losers. Total volume stood at 2.93bn shares valued at RM2.11bn.

Major regional indices trended positively. HSI gained 1.43%, to end at 20,891.62. SHCOMP increased 1.27%, to close at 3,270.66. Nikkei 225 was up 0.61%, to finish at 39,066.53. STI rose 0.37%, to close at 3,829.37.

Wall Street closed mixed as investors are waiting for data ahead of the January jobs report. The DJIA dropped 0.28%, to end at 44,747.63. Nasdaq rose 0.51%, to close at 19,791.99. S&P500 rose 0.36%, to finish at 6,083.57.

News For The Day

IHH’s unit seeks up to RM5.7bn in compensation

IHH Healthcare's unit NTK seeks up to RM5.7bn in compensation from Daiichi Sankyo over its blocked 2018 open offer for Fortis Healthcare. Initially claiming RM653m, NTK revised the amount based on a consultant's report. The dispute stems from Daiichi's legal battle with Fortis’ founders over concealed Ranbaxy investigations. – The Edge Market

Bank Islam to set up JV

Bank Islam is investing RM9m in a JV with Reldyn Tech to launch Finodyn, a Shariah-compliant digital finance platform. Bank Islam holds 40%, while Reldyn owns 60%. The venture will develop financial solutions, consulting, and support services, aiming to accelerate Islamic digital finance growth in three strategic phases. - The Edge Market

BAT Malaysia 4QFY24 profit up 3.4%

BAT Malaysia’s 4QFY24 net profit rose 3.38% YoY to RM49m on higher sales but was offset by increased tax expenses. Full-year net profit fell 5.96% to RM183.1m despite slight revenue growth. BAT Malaysia declared a fourth interim dividend of 15sen per share. The group aims to strengthen its premium brand portfolio while supporting enforcement against the tobacco black market. - The Edge Market

Lotte Chemical Titan reports RM1.2bn net loss

Lotte Chemical Titan’s FY24 revenue fell 3% to RM7.4bn, with net loss widening to RM1.2bn due to impairments and higher finance costs. The company expects continued market volatility due to fluctuating oil prices and oversupply concerns. Despite challenges, its Indonesian ethylene project remains on track, and cost management remains a key priority. – The Star

Notion VTec to acquire RM29.6m land

Notion VTEC plans to acquire 4.04 hectares of freehold land in Klang for RM29.6m to expand its extrusion plant. The purchase, funded through internal funds and bank borrowings, will support future growth, with potential industrial development or sale of excess land. - The Star

Bina Puri seeks to restructure debt

Bina Puri is restructuring its USD7.6m loan with Exim Bank after a winding-up petition. The loan's interest rate surged from 4% to 11%, prompting negotiations. Exim Bank has agreed in principle to finalise restructuring by February-end. - The Edge Market

Our Thoughts

Wall Street ended on a mixed note as traders weighed the latest batch of corporate earnings which was also a mixed bag. Focus is now centred on company specifics while largely ignoring the tariffs scenario at the moment. Meanwhile, the US 10-year yield inched higher at 4.436%. In Hong Kong, despite the financial whirlwind amid the US/China trade tension, the HSI seems to be able to navigate the uncertainties nicely so far by maintaining above the 20,000 level and closing in on the 21,000 mark. Meanwhile, investors are positive that more policy measures are expected from Beijing soon. On the home front, the FBM KLCI conducted a late mini rally to fly past the 1,580 level possibly due to the return of foreign funds. If this persists, we are confident that the index will re-test the 1,600 thresholds anytime soon. As such, we anticipate the index to hover within the 1,580-1,590 range today.

Source: Rakuten Research -

To sign up for an account : http://bit.ly/40BNqKI

[Youtube Tutorial] Account Opening & Enable Foreign Equity: http://bit.ly/3I5Jzxo