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KUALA LUMPUR, Sept 30 (Bernama) -- Bursa Malaysia pared earlier gains in the session to close flat on Tuesday, as investors adopted a cautious stance ahead of domestic policy announcements and on worries over a US government shutdown, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) tilted up 0.93 0f-a-point, or 0.06 per cent, to 1,611.88, up from Monday’s close of 1,610.95. The benchmark index opened 0.87 of a point higher at 1,611.82 and moved between 1,608.69 and 1,619.11 throughout the trading session. The market breadth was almost equally balanced, with decliners marginally outnumbering gainers 557 to 549. A total of 503 counters were unchanged, 1,006 untraded, and 81 suspended. Turnover narrowed to 3.47 billion units valued at RM3.16 billion, from 3.77 billion units worth RM2.47 billion on Monday. Research firm IPPFA Sdn Bhd director and country economist Mohd Sedek Jant...

Tariff Shock Pushes Firm Into the Red Electronics manufacturing services provider  VS Industry Bhd (KL:VS)  slipped into a net loss of  RM33 million in 4QFY2025 , compared with a net profit of  RM126.6 million  a year earlier. Revenue tumbled  29% y-o-y to RM858.8 million  from RM1.21 billion, as US reciprocal tariffs triggered sharper-than-expected adjustments from customers. Additional Headwinds Beyond weaker sales, the group’s results were weighed down by: Cost-down pressures  from customers Start-up losses  at its Philippines operations Impairments  on trade receivables and plant & equipment No dividend was declared for the quarter. For the full FY2025,  net profit plunged 85% y-o-y to RM36.7 million , while revenue fell nearly  11% to RM3.79 billion  from RM4.25 billion. Outlook: Challenging but Improving VS Industry expects operating conditions to remain  challenging , with performance tied to consumer senti...

Cautious Gains Across Asia Asian shares moved higher on Tuesday while gold climbed to another record, as investors weighed the growing risk of a US government shutdown that could delay key economic data. The  MSCI Asia-Pacific ex-Japan index  rose 0.5%, putting it on track for a  5.6% monthly gain — its best in a year . Japan’s  Nikkei slipped 0.3% , extending a three-day decline, while traders looked ahead to political developments at home. China’s  PMI remained in contraction  at 49.8 in September, signaling continued weakness in manufacturing, though slightly better than August’s 49.4 reading. Shutdown Clouds Fed Outlook US Vice President  JD Vance  warned that the government appeared “headed to a shutdown” as talks between President Donald Trump and Democratic leaders stalled. A closure would halt the release of this week’s crucial employment report, leaving only partial indicators such as the  JOLTS job openings data  due later Tues...

First-of-Its-Kind Integration with GrabPay SINGAPORE (Sept 30): Cryptocurrency exchange  OKX  has rolled out a new service that allows its customers to pay with  stablecoins  at merchants on Grab’s payment platform,  GrabPay , marking a first for the city-state. The service, called  OKX Pay , lets users make payments in  USDC or USDT , which are then automatically converted into  StraitsX’s XSGD  — a Singapore dollar-backed stablecoin. Merchants ultimately receive the amount in  Singapore dollars , ensuring a seamless experience on their end. Growing Stablecoin Adoption in Singapore The move underscores Singapore’s growing role as a hub for  digital asset innovation  and signals increasing mainstream acceptance of blockchain-based payments. Stablecoins, pegged to fiat currencies, are gaining traction globally for their  low transaction costs  and  fast settlement speeds . Earlier this year,  Metro department...

Nvidia Leads Year-to-Date, Tesla Surges in September Nvidia ($NVDA) remains the top performer among the Magnificent 7 this year, while Tesla ($TSLA) delivered a remarkable  32% rally in September . With both stocks facing pivotal catalysts in the coming months, investors are weighing which name offers the stronger case into year-end. Nvidia: AI and Data Center Momentum Key Catalysts Ahead Oct 6: OpenAI DevDay  – Potential updates on model launches and inference costs could directly impact Nvidia’s AI ecosystem. Oct 13: Oracle AI World  – Focus on second-tier cloud and AI infrastructure partnerships. Oct 16: TSMC Q3 Earnings  – Market attention on CoWoS packaging capacity and N2 process ramp. Oct 28: Nvidia GTC Keynote (DC20)  – CEO Jensen Huang expected to update on GPU platforms, networking and public sector demand. Nov 19: Q3 FY26 Earnings  – Focus on  data center revenue , GB200 shipments, and gross margins. Technical Setup Nvidia recently broke abo...

Balancing Fiscal Prudence and Rakyat-Centric Support With  Budget 2026  set for tabling on  10 October , economists at  RHB Research  expect the government to strike a careful balance between fiscal consolidation and growth-friendly reforms. The fiscal deficit is projected to narrow to  3.5% in 2026  and  3.2% in 2027 , underpinned by an estimated  RM89 billion in development spending  — the first year of the  13th Malaysia Plan (13MP) . “Budget 2026 represents the last major opportunity for the unity government to implement meaningful reforms before political considerations ahead of GE16 dominate in 2027,” RHB noted. Reform Momentum Building, But Challenges Remain Key measures rolled out in 2025 — including the  expanded Sales & Service Tax (SST)  and the start of  RON95 subsidy rationalisation  — are expected to be refined further to exclude higher-income groups. Savings from subsidy rationalisation are lik...

  Policy Pause Amid Uncertain Outlook The Reserve Bank of Australia (RBA) on Tuesday kept its cash rate unchanged at  3.60% , aligning with market expectations. The central bank noted that recent data suggests  third-quarter inflation may run hotter than forecast , highlighting lingering uncertainty in the economic outlook. Governor  Michele Bullock  emphasized the RBA’s data-dependent approach, saying the board will reassess in November with a fuller picture of inflation, labour market trends, and updated forecasts. “That could mean a couple more reductions. It might not. I don’t know at this point and we will look at all this again in November,” she told reporters. Market Reaction and Rate Expectations The more cautious tone dampened hopes for near-term rate cuts. The  Australian dollar strengthened 0.4% to US$0.66 , while three-year bond futures slipped, reflecting diminished easing bets. Swaps now price in just a  36% probability of a November cut ...

  Stable Outlook Backed by Strong Capital Buffers RAM Ratings has reaffirmed its  stable outlook  on Malaysia’s insurance and takaful industry, citing robust capital positions that provide resilience against market volatility. While persistent medical cost inflation and competitive pricing pressures weigh on earnings, the sector’s solid buffers are expected to help players withstand external uncertainties. “Growth in life/family takaful and non-life segments will likely slow in 2025 amid affordability concerns and lingering cost-of-living pressures. Still, capital buffers are sufficient to absorb potential shocks,” said  Sophia Lee , Senior Vice President of Financial Institution Ratings at RAM. Longer-term fundamentals are expected to strengthen as  Bank Negara Malaysia’s risk-based capital reforms , slated for 2027 or later, enhance system resilience. Several insurers have already begun managing capital needs ahead of the reforms. Growth Moderation Across Life...

  Fresh Optimism Returns to IPO Market After nearly two months of subdued activity, Malaysia’s IPO market regained momentum in September with the debuts of  JS Solar (JSSOLAR, 0369.MY)  and  Express Powerr (XPB, 0370.MY) . Both stocks delivered strong first-day gains —  29%  and  12.5% , respectively — sparking hopes of a broader IPO rally on Bursa Malaysia. Icents Group Doubles Since Listing Among the eight companies listed in Q3,  Icents Group (ICENTS, 0366.MY)  emerged as the quarter’s standout performer. Specializing in cleanroom solutions, the stock delivered the  highest debut-day returns  and has since more than  doubled in value , making it the best-performing IPO of the quarter. Kopi’s Expansion Story The strong performance of new listings mirrors earlier IPO success stories, most notably  Kopi (KOPI, 0338.MY) . The F&B operator has surged from  RM0.80 in August to RM1.41 , supported by rapid outlet expan...

  Fresh Tariff Wave Announced US President Donald Trump announced new duties on imported wood and furniture, citing national security concerns. Effective  Oct 14 , tariffs will be set at  10% on timber and lumber  and  25% on kitchen cabinets, bathroom vanities, and upholstered furniture . The duties fall under  Section 232 of the Trade Act of 1974 , the same mechanism used for steel and aluminum tariffs. Higher Duties in 2026 The proclamation warns of steeper rates from  Jan 1, 2026 , with tariffs on upholstered wooden products rising to  30% , and kitchen cabinets and vanities surging to  50%  for countries without tariff-reduction agreements with the US. National Security Justification Trump argued that heavy reliance on imports threatens the domestic wood industry, which is critical to  defense infrastructure and supply chains . Wood products are used in housing, storage, transportation of munitions, and even in  missile de...

Trade Momentum Strengthens Malaysia-China bilateral trade reached  US$131.84 billion (RM555.8 billion)  in the first eight months of 2025, underscoring robust momentum as both nations enter the “Golden 50 Years” of diplomatic relations. China has remained Malaysia’s largest trading partner for  16 consecutive years , accounting for  RM484.12 billion  in total trade in 2024, or 16.8% of Malaysia’s global trade. Tourism Rebounds Tourist arrivals from China surged to a historic  2.78 million visitors in the first seven months of 2025 , reflecting deepening people-to-people exchanges and recovery in travel flows. High-Level Visits Elevate Ties China’s Ambassador to Malaysia, Ouyang Yujing, highlighted that  state visits by Chinese President Xi Jinping and Premier Li Qiang , alongside Malaysian Prime Minister Anwar Ibrahim’s visits to China this year, have boosted momentum. Both nations agreed in April to  build a high-level strategic community with a ...

KUALA LUMPUR, Sept 29 (Bernama)  -- Bursa Malaysia closed marginally higher on Monday, in tandem with the positive performance of regional peers, said an analyst.               At 5 pm, the FBM KLCI added 1.90 points to end at 1,610.95, compared with last Friday’s close. The benchmark index opened 0.70 of a point higher at 1,609.75, and moved between 1,606.76 and 1,613.53 throughout the day. The market breadth was, however, negative with decliners outnumbering gainers 645 to 459, while 487 counters were unchanged, bursa09292025.jpg 1,057 untraded, and 124 suspended. Turnover narrowed to 3.77 billion units worth RM2.47 billion, from 4.16 billion units worth RM3.17 billion on Friday.

 Aluminium Prices Hit One-Year High Maybank Investment Bank (Maybank IB) remains positive on  Press Metal Aluminium Holdings Bhd (PMETAL)  as aluminium prices climb to their highest in a year amid tight global supply. Prices on the London Metal Exchange (LME) rose to  US$2,737 per tonne in September , already exceeding Maybank’s year-end forecast of  US$2,550 per tonne . The research house highlighted that inventories remain near multi-decade lows, while sanctions on Russia and China’s 45 million tonne production cap continue to squeeze supply. High energy costs have also led to smelter shutdowns in some regions, adding to the deficit risk. U.S. Dollar Weakness a Key Earnings Headwind While a weaker greenback could support aluminium demand globally, Maybank IB cautioned that it poses a downside risk for Press Metal’s earnings. This is because the company  earns revenue in U.S. dollars but reports in ringgit . Maybank estimates that a  5% depreciation o...

 U.S. Government Funding Standoff Asian equities mostly gained on Monday while the U.S. dollar eased, as investors weighed the risk of a U.S. government shutdown. President Donald Trump is set to meet Congressional leaders later in the day in a last-minute bid to extend government funding. Without an agreement, a shutdown would begin Wednesday — coinciding with the start of  new tariffs on heavy trucks, patented drugs, and other goods . A prolonged closure could complicate the Federal Reserve’s policy decisions, as official economic data releases such as payrolls would be delayed. “If the shutdown lasts beyond the Fed meeting, the Fed will rely on private data,” Bank of America wrote, adding this could slightly reduce the chances of an October rate cut. Fed Outlook and Economic Impact Markets currently price a  90% chance of a Fed cut in October , and a  65% probability of another in December . Analysts estimate that each week of shutdown could shave just 0.1 percent...

 Consensus Estimates Revenue:  $10.71B expected (vs. $12.61B a year ago) EPS:  $0.12 expected (vs. $0.99 a year ago) Nike has a history of  beating EPS estimates in 7 straight quarters , but stock reactions have been negative — it has  traded lower after 8 of its last 9 earnings reports . Expert Views Jay Woods (Freedom Capital): Stock is down  66% from 2021 highs . “Things aren’t looking good” — inventories and tariff risks weigh. Suggests waiting for a breakdown near  $52  before buying. Tom Nikic (Needham): Maintains  Buy , cuts PT to  $66  (from $75). Says Street’s FY26 expectations are  too high  given tariff pressures. Notes turnaround will take time despite leadership changes. Lorraine Hutchinson (BofA Securities): Maintains  Buy , PT  $80 . Believes Q4 could mark  peak pressure  on sales/margins. Highlights strong  Spring ’26 innovation pipeline  and opportunities in wholesale. Other A...

Modest Earnings Uptick Expected Top Glove Corp Bhd (KL:TOPGLOV), the world’s largest rubber glove maker, is likely to post  only slight quarter-on-quarter earnings improvement  in its fiscal 4QFY2025, according to Phillip Capital. Projected net profit:  RM22–23 million, versus RM21.5 million in 3QFY2025. This would mark a turnaround from the  net loss of RM50.5 million  in 4QFY2024. The improvement is underpinned by higher utilisation rates, with the company running at  74% capacity  on stronger US orders. Headwinds: Prices and Currency Pressure Despite better volume, Phillip Capital warned that: Softer average selling prices (ASPs)  and A  stronger ringgit against the US dollar will weigh on margins. The research house has  cut its target price by 12 sen to 59 sen , citing persistent structural challenges that cap earnings recovery. Competitive Pressures Intensify Global oversupply continues to plague the glove sector, with: Chinese riv...

Debt Restructuring Brings in Major Banks Three of Malaysia’s largest banks —  Maybank, CIMB, and RHB  — have emerged as substantial shareholders in  Vantris Energy Bhd . The development follows the issuance of new shares and securities under a  debt restructuring scheme involving Sapura TMC Sdn Bhd , a wholly owned subsidiary of Vantris Energy. Maybank: Largest Stakeholder at Over 20% New allotment:  462.45 million new ordinary shares and 498.48 million RCUIDS (redeemable convertible unsecured Islamic debt securities). Direct holding:  421.67 million shares ( 18.48% ). Indirect holding:  40.78 million shares ( 1.79% ). Combined stake:   20.27% , making Maybank the largest substantial shareholder under Section 136 of the Companies Act. RHB: Indirect Stake via Islamic Arm New allotment:  164.56 million shares at RM0.80 each + 177.39 million RCUIDS. Holding entity:  RHB Islamic Bank Bhd. Effective stake:   7.21%  in Vantris Energy...

Market Resilience Meets Fresh Caution U.S. equities have staged one of their strongest rallies since the 1950s, adding nearly  US$15 trillion in market value since April . The S&P 500 has surged  33% , notched  28 record highs in 2025 , and is on track for its best September in more than a decade. But momentum is showing early signs of fatigue. The benchmark slipped for three straight sessions last week — its longest losing streak in a month — before eking out a rebound Friday. Since the Fed’s rate cut on Sept. 17, the S&P 500 is up less than 1%, with weakness spreading beyond Big Tech to consumer, healthcare, and materials stocks. Tariffs, Data, and the Fed in Focus President  Donald Trump’s new tariffs  on imported trucks, drugs, and furniture add another layer of uncertainty just as  Q3 earnings season  begins Oct. 14 with JPMorgan Chase. Markets are already pricing in  8% earnings growth  for the quarter — levels seen only twice i...

 U.S. Budget Standoff Adds to Market Jitters Asian markets opened cautiously on Monday as investors weighed the risk of a potential  U.S. government shutdown . Without a funding deal, federal agencies could close from Wednesday — the same day new tariffs on  heavy trucks, pharmaceuticals, and furnishings  take effect. President Donald Trump is set to meet Congressional leaders later today to discuss extending funding. A prolonged shutdown could delay the release of key economic data, including September’s payrolls report, leaving the  Federal Reserve (Fed)  with limited visibility ahead of its October 29 meeting. Implications for Fed Policy Bank of America analysts noted that if the shutdown drags on, the Fed may need to rely on  private data sources  when setting policy. While the immediate economic hit is estimated at only  0.1 percentage point of GDP per week , longer disruptions or permanent federal layoffs could dent consumer confidence ...

GlobalFoundries and Intel Lead Gains U.S. chipmakers surged Friday after reports that the Trump administration is preparing a new policy to  force domestic production to match imports . GlobalFoundries (GFS):  +8.4% Intel (INTC):  +4.4% Both companies have significant U.S. manufacturing capacity, positioning them to benefit from the proposed rules. The Proposal: A 1:1 Ratio for Chips According to the  Wall Street Journal , the administration wants U.S. semiconductor firms to produce  the same number of chips domestically as customers import from abroad . Companies unable to match imports with U.S. output would face  tariffs . The policy is seen as an  extension of Trump’s earlier plan  to impose 100% tariffs on foreign-made chips, with exemptions for firms building in the U.S. Firms would have a grace period to meet quotas while new fabs ramp up. National Security at the Core The White House argues the U.S. must reduce reliance on  foreign su...

Shutdown Deadline Approaches Asian shares opened cautiously on Monday as investors weighed the risk of a potential  U.S. government shutdown . Without a funding deal, the shutdown could begin  Wednesday , coinciding with the rollout of new U.S. tariffs on  heavy trucks, pharmaceuticals, and other products . President Donald Trump is set to meet congressional leaders later Monday in an effort to secure an extension. Analysts warn that a prolonged closure would delay critical economic data releases — including the September  payrolls report  — leaving the  Federal Reserve (Fed)  with less visibility ahead of its  Oct 29 meeting . Fed Implications Bank of America (BofA)  analysts noted that if the shutdown extends beyond October, the Fed would have to rely more on private-sector data. Markets currently price in a  90% chance of a Fed rate cut in October  and a  65% probability of another in December . Economic growth impact is est...