Malaysia Morning Wrap | Mr DIY's Q3 profit up 11.9%; Sunway REIT's Q3 property income up 25.3%

Moomoo News MY joined discussion · Nov 10 18:32

Key Takeaways:

• Wall Street Rallies as U.S. Government Shutdown Nears End

• Fed's Miran Advocates for 50 Basis Point Rate Cut in December

• FBM KLCI Gains on Improved Economic Outlook and US Shutdown Progress

• Stocks to watch: MRDIY, SUNREIT, etc.

🇺🇸Wall Street Summary

$S&P 500 Index (.SPX.US)$ 6,832.43 (+1.54%)

$Dow Jones Industrial Average (.DJI.US)$ 47368.63 (+0.81%)

$Nasdaq Composite Index (.IXIC.US)$ 23,527.17 (+2.27%)

U.S. stock markets rebounded on Monday, with technology stocks leading the charge. The $Nasdaq Composite Index (.IXIC.US)$ surged 2.27% or 522.64 points, closing at 23,537.17, as tech giants like $Palantir (PLTR.US)$, $NVIDIA (NVDA.US)$, $Alphabet-C (GOOG.US)$, and $Tesla (TSLA.US)$ recovered from last week's losses. The broader $S&P 500 Index (.SPX.US)$ gained 1.54% or 103.63 points to end at 6,832.43, while the $Dow Jones Industrial Average (.DJI.US)$ rose 0.81% or 381.53 points to 47,368.63.

U.S. stocks rebounded Monday as progress towards ending the 41-day government shutdown boosted investor sentiment. A key procedural vote passed in the Senate with 61 votes, including support from eight Democrats, signaling a potential resolution to the budget impasse.

The breakthrough came after Democrats compromised on healthcare subsidies, while Republicans agreed to future votes on extending these subsidies and reversing certain Trump-era policies. While final procedural steps remain, the government is expected to reopen within days, contributing to a risk-on mood across Wall Street.

Federal Reserve Governor Stephan Miran, known for his dovish stance, reinforced market optimism by reiterating his support for a significant interest rate cut at the Fed's December meeting. During a CNBC TV appearance, Miran stated that a 50 basis point reduction would be appropriate, barring new information, while emphasizing that a minimum 25 basis point cut should be considered.

🇲🇾Bursa Market Insight

$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ 1627.38 (+0.51%)

Top Gainer: $AXIATA (6888.MY)$ RM2.700 (+3.85%)

Top Loser: $YTL (4677.MY)$ RM2.490 (-2.73%)

USD/MYR: $USD/MYR (USDMYR.FX)$ 4.1619 (+0.05%)

The Malaysian stock market closed higher on Monday, with the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ rising 8.25 points or 0.51% to 1,627.38. This uptick was driven by a combination of positive domestic and global factors. Locally, investor confidence was boosted by signs of a resilient labor market and a firming ringgit. Globally, Asian equities rallied on news of progress towards ending the US government shutdown, with the US Senate passing the first stage of a deal late Sunday night.

Malaysia's stock market performance strengthened on the back of positive economic indicators, according to Mohd Sedek Jantan, an investment strategist. The latest labour force data from the Department of Statistics Malaysia (DOSM) demonstrated robust domestic fundamentals, signaling a sustained recovery in household demand.

This, coupled with the ringgit's appreciation and stable macroeconomic indicators, has bolstered investor sentiment. Sedek highlighted the interplay between domestic strength and improving global macro signals, suggesting that Malaysia's equity market is well-positioned for continued upward momentum into the final quarter of 2025.

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Malaysia Morning Wrap | Mr DIY's Q3 profit up 11.9%; Sunway REIT's Q3 property income up 25.3%

🔔Stocks to Watch

$MRDIY (5296.MY)$'s Q3 net profit rose 11.9% to RM136.12 million, driven by improved margins and revenue from new store openings.

$SUNREIT (5176.MY)$'s Q3 net property income increased 25.3% to RM180.9 million, boosted by contributions from new retail and industrial assets.

$GENTING (3182.MY)$ has issued RM900 million in one-year medium-term notes at 4.8% interest to partially finance its takeover of Genting Malaysia Bhd shares.

$IHH (5225.MY)$'s mandatory takeover offers for additional stakes in Fortis Healthcare and Malar Hospitals received negligible responses.

$SDG (5285.MY)$ issued Malaysia's largest sustainability-linked sukuk of RM2.1 billion, comprising 10-year and 15-year tranches at 3.8% and 3.97% respectively.

$HUPSENG (5024.MY)$ reported a 10.4% drop in Q3 net profit to RM15.47 million, citing challenging operating conditions.

$MAHSING (8583.MY)$'s subsidiary purchased 2.83 acres in George Town for RM51.8 million, planning a RM528 million mixed-use project.

$AYS (5021.MY)$' subsidiary invested RM31.15 million to increase its stake in 3HA Capital to 14.9%, maintaining proportionate ownership with other consortium members.

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Source: Dow Jones Newswires, Bursa Malaysia, The Malaysian Reserve, The Star, The Edge.

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