KUALA LUMPUR, Jan 23 (Bernama) -- Bursa Malaysia’s benchmark index recouped earlier losses to settle higher, maintaining a more than six-year high, buoyed by continued buying interest in technology stocks, while the strengthening of the ringgit against the US dollar further lifted investor sentiment. At 2.27 pm today, the local currency strengthened to 3.9992 versus the greenback, its strongest level in more than seven years. It was last seen at this level on June 18, 2018, at 3.9960/9990. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.85 points or 0.17 per cent to 1,719.99 from yesterday’s close of 1,717.14. The index surpassed its previous peak of 1,719.00 recorded on Feb 26, 2019. The barometer index opened 1.30 points lower at 1,715.84 and moved between an intraday low of 1,711.89 in early trade and a high of 1,723.41 in late afternoon before slipping slightly toward the close. However, market breadth was negative with decl...
Quick Market Summary
Global risk sentiment weakened sharply as fears of a renewed US–Europe trade war linked to Greenland triggered heavy selling across equities, spilling over into Asian and Malaysian markets.
Wall Street: Trade War Fears Spark Broad Sell-Off
US equities slumped after President Donald Trump threatened fresh tariffs on European countries opposing his Greenland bid.
Dow Jones: -1.8% to 48,488.59
S&P 500: -2.1% to 6,796.86
Nasdaq Composite: -2.4% to 22,954.32
Big Tech names were among the hardest hit, reflecting concerns over retaliatory tariffs and global supply-chain risks.
Key takeaway: Markets are repricing geopolitical risk as trade tensions resurface.
Bursa Malaysia: Broad-Based Selling
The FTSE Bursa Malaysia KLCI Index ended the session firmly lower as cautious sentiment dominated regional trading.
KLCI: 1,699.06 (-0.77%)
Market breadth: 786 decliners vs 296 gainers
Turnover: 2.86bn shares worth RM2.86bn
All sector indices closed in negative territory, reflecting broad-based risk-off positioning.
Top Gainer: MRDIY +1.75%
Top Loser: QL Resources -2.90%
USD/MYR: RM4.0545 (flat)
Macro Watch: Export Growth Seen Cooling
Despite a record 2025 export performance (exports up 6.5% to RM1.61 trillion), economists expect export momentum to slow in 2026, citing:
Renewed US tariff risks
Elevated geopolitical uncertainty
High base effects
Fading front-loading activity
On the positive side, the IMF upgraded Malaysia’s GDP growth outlook:
2025: 4.6%
2026–2027: 4.3%
Key takeaway: Domestic growth remains resilient, but external risks are rising.
Stock Focus: Maybank Unveils ROAR30 Strategy
Malayan Banking Bhd launched its new ROAR30 five-year plan, setting ambitious profitability and transformation targets.
ROAR30 Highlights
ROE target: 13–14% by 2030 (from ~11.5%)
NOII growth: +9% over five years
NOII ratio: 39% target (from 35%)
Technology investment: RM10bn over five years
Key takeaway: Maybank is pivoting toward higher fee income and tech-driven efficiency.
Stocks to Watch
Malayan Banking Bhd – ROAR30 plan targets higher ROE, stronger NOII and RM10bn tech investment.
KKB Engineering Bhd – Secured RM80m worth of steel pipe and structural supply contracts.
ICT Zone Asia Bhd – Won RM17.29m ICT hardware leasing order for a government project.
Reservoir Link Energy Bhd – Appointed panel contractor for Roc Oil Sarawak until 2029.
Mitrajaya Holdings Bhd – Contract value from NEXTDC Malaysia raised to RM844.66m.
Investor Takeaway
Global geopolitics are back in focus, driving short-term volatility
Malaysia’s macro outlook remains stable, but export risks loom
Banking sector themes now centre on ROE uplift, fee income and digital investment
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