Malaysia Morning Wrap | Ringgit May Hit 3.93 vs USD by Mid-2026; Pekat Unit Wins RM113.3 Million Order
Key Takeaways:
• US Stocks Open 2026 Mixed in Light Post-Holiday Trading
• Bursa Malaysia Dips on Profit-Taking in 2026 Debut
• MARC Ratings Forecasts Ringgit to Hit 3.93 by Mid-2026
• Stocks to watch: Chin Hin, Enra, etc.
• Bursa Malaysia Dips on Profit-Taking in 2026 Debut
• MARC Ratings Forecasts Ringgit to Hit 3.93 by Mid-2026
• Stocks to watch: Chin Hin, Enra, etc.
🇺🇸Wall Street Summary
$S&P 500 Index (.SPX.US)$ 6,858.47(+0.19%)
$Dow Jones Industrial Average (.DJI.US)$ 48,382.39 (+0.66%)
$Nasdaq Composite Index (.IXIC.US)$ 23,235.63 (-0.03%)
US stocks began 2026 with mixed results on last Friday in thin post-holiday trading. The $Dow Jones Industrial Average (.DJI.US)$ closed at 48,382, while the $S&P 500 Index (.SPX.US)$ finished at 6,858. The $Nasdaq Composite Index (.IXIC.US)$ slipped slightly, down 0.03% to 23,236.
Tech stocks showed diverging fortunes—gains in $SanDisk (SNDK.US)$, $Micron Technology (MU.US)$ and $CoreWeave (CRWV.US)$ were offset by weakness in $Palantir (PLTR.US)$, $Salesforce (CRM.US)$ and $Tesla (TSLA.US)$. Trading volume was light as markets resumed after Thursday's New Year's closure, with minimal corporate or economic data to drive sentiment.
Wall Street is attempting to build on 2025's strong performance, which saw the S&P 500 deliver an above-average 16.4% annual return.
🇲🇾Bursa Market Insight
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ 1669.760 (-0.62%)
Top Gainer: $QL (7084.MY)$ RM3.95 (+4.22%)
Top Loser: $SIME (4197.MY)$ RM2.05 (-4.65%)
USD/MYR: $USD/MYR (USDMYR.FX)$ 4.0630 (+0.22%)
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ 1669.760 (-0.62%)
Top Gainer: $QL (7084.MY)$ RM3.95 (+4.22%)
Top Loser: $SIME (4197.MY)$ RM2.05 (-4.65%)
USD/MYR: $USD/MYR (USDMYR.FX)$ 4.0630 (+0.22%)
Bursa Malaysia kicked off 2026 trading on a weaker note, with the FBM KLCI falling 10.35 points (0.62%) to close at 1,669.76 on Friday. The benchmark index opened at 1,675.20 and hit an intraday low of 1,666.17 amid profit-taking following the recent rally.
Market sentiment was negative, with 592 decliners outnumbering 447 gainers, while trading activity remained subdued despite positive performance across most regional markets.
MARC Ratings projects the ringgit could strengthen to 3.93 against the US dollar by mid-2026, its strongest level in eight years, driven by expectations of at least two US Federal Reserve rate cuts. The forecast is supported by narrowing yield differentials, Asean trade initiatives boosting exports, and improving domestic fundamentals.
Malaysian Government Securities yields are expected to consolidate within 3.35%-3.40%, while portfolio inflows should remain steady amid a stronger ringgit, low inflation, and a fiscal deficit projected to narrow from 3.8% to 3.5% of GDP. Malaysia's semiconductor role continues to attract foreign investment interest.
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🔔Stocks to Watch
$CHINHIN (5273.MY)$ signed a memorandum of understanding with EC Excel Wire Holdings Sdn Bhd on Jan 2, 2026, to establish a strategic alliance targeting mutual benefits and operational synergies.
$ENRA (8613.MY)$'s subsidiary, Hamptons Homes Sdn Bhd, entered into two joint venture agreements with Entire Role Sdn Bhd to develop double-storey medium-cost terrace houses on 2.2 hectares in Kulai, Johor.
$GOHUB (0311.MY)$ plans to raise up to RM21.2mn through a private placement of shares representing 10% of its enlarged share base to fund four new projects.
Teguh Sedaya Sdn Bhd acquired an additional 8.5% stake in $OMESTI (9008.MY)$, increasing its total shareholding to 22.6% and becoming the company's largest shareholder.
$PEKAT (0233.MY)$'s 60%-owned subsidiary, EPE Switchgear (M) Sdn Bhd, secured a RM113.3 million order to supply medium-voltage power distribution equipment.
💡Buy or Sell?
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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104421452 : Exporters are in a tough spot, especially those who receive US dollars.
PCLye4448 : fantastic
PCLye4448 : exporters raw materials also have import components... so it might not be as bad as they want to portray all the time
Slay2dudes : ok
103648189曹 : Very good.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")