Malaysia Morning Wrap | NexG Secures RM732.7 Million Next-Generation MyKad Supply Contract
Good morning mooers! Here are things you need to know about today's market:
The Dow Jones Industrial Average and the S&P 500 Index Both Hit New Record Closing Highs on Friday
FBM KLCI Edged Lower on Friday as Investors Booked Profits
Budget 2026 to Take Centre Stage as Dewan Rakyat Convenes on Oct 6
Stocks to watch: NEXG, IHH, etc.
- Moomoo News MY
Wall Street Summary
$S&P 500 Index (.SPX.US)$ 6,715.79（+0.01%)
$Dow Jones Industrial Average (.DJI.US)$ 46,758.28 (+0.51%)
$Nasdaq Composite Index (.IXIC.US)$ 22,780.51 (-0.28%)
The Dow-30 and S&P 500 set new closing records yet again Friday, although the Nasdaq Composite eased as Wall Street mostly ignored the U.S. government shutdown for a third straight day.
The $Dow Jones Industrial Average (.DJI.US)$ rose 238.56 points (0.5%) to a best-ever 46,834.11 finish, while the $S&P 500 Index (.SPX.US)$ inched up 0.44 ticks (0.01%) to eke out a record 6,715.79 ending.
Both indexes had set record closing highs just one day earlier, as had the $Nasdaq Composite Index (.IXIC.US)$ . All three market indicators also set all-time intraday highs earlier in Friday's session.
At 12:01 a.m. on Wednesday, the government suspended all non-essential services as it entered a new fiscal year without an official budget, which left officials without the legal authority to fund many operations.
Before the deadline, the Democrats and President Donald Trump's Republican Party were unable to reach an agreement on either a one-year budget or a temporary measure to keep the government running while negotiations continued.
On Friday, the U.S. Senate rejected both Democratic and Republican proposals to end the shutdown. These plans were identical to earlier versions that lawmakers had already dismissed.
Bursa Market Insight
Bursa Malaysia saw a slight dip on Friday, as investors took profits following its recent robust performance, according to an analyst. On Friday at 5 p.m., the FTSE Bursa Malaysia KLCI (FBM KLCI) closed at 1,635.06, down 2.74 points, or 0.16 per cent, from Thursday’s close of 1,637.80.
Mohd Sedek Jantan, the director of investment strategy and country economist at IPPFA Sdn Bhd, warned that a prolonged shutdown of the US federal government could generate uncertainty in global markets, which might subsequently spill over into Malaysia’s futures market.
Furthermore, he noted that domestic focus would shift to the tabling of Budget 2026 on October 10. Investors are anticipated to remain selective and adopt a cautious stance in anticipation of the fiscal announcements that will set the tone for market sentiment through the end of the year.
The 2026 Budget will be presented by Prime Minister Datuk Seri Anwar Ibrahim during the Third Meeting of the Fourth Session of the 15th Parliament. The Dewan Rakyat will be in session for 35 days, starting from Monday, October 6, and ending on December 4.
According to the official Parliament website, Anwar, who also serves as the finance minister, is scheduled to present the 2026 Supply Bill at 4pm on October 10. The 2026 Budget speech will be broadcast live on major television networks and can also be viewed on various online platforms, including the Malaysian Parliament's YouTube channel.
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Stocks to Watch
$IHH (5225.MY)$ has obtained approval from India’s stock exchange regulator to proceed with its mandatory open offer for a 26% stake in both Fortis Healthcare Ltd and Malar Hospitals Ltd, a move that was first proposed seven years ago.
$MAXIS (6012.MY)$ has accepted a spectrum assignment offer from the Malaysian Communications and Multimedia Commission (MCMC) for a total of RM400 million. The telecommunications group will receive a 2X10MHz block of 2100MHz spectrum. The payment structure includes an upfront payment of RM100 million and cumulative annual payments totaling RM300 million over the entire assignment period.
$NEXG (5216.MY)$ has won a six-year contract valued at RM732.72 million from the Ministry of Home Affairs to supply Malaysia's national identity cards, including MyKad and MyTentera.
$MALAKOF (5264.MY)$’s 70%-owned subsidiary, Malakoff Evergreen Sdn Bhd (MEVSB), has entered into a 30-year power purchase agreement (PPA) with state utility firm Syarikat SESCO Bhd. Under the agreement, MEVSB will develop and operate a 100MWac solar photovoltaic plant in Bintulu, Sarawak.
$SLVEST (0215.MY)$ and $PMETAL (8869.MY)$ are set to collaborate on the development of a 100MWac solar photovoltaic (PV) plant in Mukah, Sarawak. The project is estimated to cost RM380 million.
$MBSB (1171.MY)$ has pledged RM1.3 billion to support the expansion of Weststar Aviation Services Sdn Bhd (WASSB), the aviation division of The Weststar Group, through a landmark syndicated Islamic financing facility.
$KNM (7164.MY)$ has announced its intention to exit Practice Note 17 status. However, the company has failed to demonstrate its ability to grow and sustain its business. Additionally, its proposed plan does not fully address the issues that led to KNM’s financial difficulties. As a result of this decision, trading of KNM shares will be suspended starting on October 13.
$PLYTEC (0289.MY)$ has decided to abandon its plan to move its listing to the Main Market of Bursa Malaysia. This decision was reached after a thorough and careful evaluation of the company's current financial and operational status, as well as the strategic timing of the proposed transfer.
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Source: Dow Jones Newswires, Bursa Malaysia, The Malaysian Reserve, The Star, The Edge.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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