
Late selling pressure drags Bursa Malaysia into the red
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) lost 2.46 points to 1,516.95 from Monday's close of 1,519.41.
The benchmark index opened 0.30 of-a-point higher at 1,519.71 this morning, and subsequently moved between 1,516.23 and 1,522.43 throughout the day.
On the local bourse, decliners beat gainers 441 to 437, while 533 counters were unchanged, 958 untraded and 11 suspended.
Turnover expanded to 2.72 billion units worth RM2.09 billion compared with yesterday's 2.61 billion units worth RM1.84 billion.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI closed lower today, however, despite the late-session pullback, sectoral leadership remained consistent, with consumer, telecommunications, and plantation counters continuing to provide relative strength.
'The weakness in the broader index was largely attributed to cautious investor positioning ahead of further developments in the ongoing US-China trade negotiations, now entering their second day.
'While initial commentary from both sides has been constructive, market participants are taking a wait-and-see approach, with risk appetite tempered by uncertainty over the outcome and timeline of any potential tariff relief,' he told Bernama.
Commenting on market activity, Mohd Sedek noted that local institutional flows remained supportive, but were insufficient to offset profit-taking toward the close.
'Foreign investors continued to reduce exposure, marking the 15th consecutive day of net outflows, although with signs of moderation in selling intensity,' he added.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng, meantime, said that the brokerage firm maintained its weekly FBM KLCI target at the 1,500 to 1,530 range while the market awaits fresh drivers.
'We advise investors to explore opportunities in domestically driven sectors like utilities, real estate, and financials, which are often more resilient to trade shocks,' he added.
Among the heavyweights, Maybank shed two sen to RM9.66, Tenaga Nasional and CIMB lost four sen each to RM14.24 and RM6.85, respectively, while Public Bank was unchanged at RM4.26.
The top losers in the broader market were led by Nestle, which slid 74 sen to RM75.0, followed by Ayer Holdings which trimmed 40 sen to RM7.20, Allianz erased 28 sen to RM19.12, and Dutch Lady dipped 20 sen to RM29.50.
Among the most active stocks, MYEG was half-a-sen better at 95.0 sen, NexG eased one sen to 36 sen, Tanco lost 2.5 sen to 96.5 sen, while Harvest Miracle and Main Market debutant Paradigm REIT were flat at 18 sen and RM1.0, respectively.
Meanwhile, 99 Speed Mart Retail Holdings Bhd, in an amended filing with Bursa Malaysia, clarified that the Employees Provident Fund (EPF) had acquired six million shares in the minimart chain operator on June 4 and not 421.79 million shares or a 5.02 per cent stake as previously disclosed on Monday.
The retirement fund emerged as a substantial shareholder in 99 Speed Mart after acquiring an additional 0.07 per cent stake in the company, which raised the former's stake in 99 Speed Mart to 5.02 per cent, beyond the 5.0 per cent threshold required to be deemed a substantial shareholder.
At closing today, 99 Speed Mart share price rose 4.29 per cent or 9.0 sen to RM2.19 with 11.67 million shares traded.
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Malaysian Reserve
15 minutes ago
- Malaysian Reserve
High‑Growth Oncology Market Projected For US$900bn in Revenue Despite Policy Headwinds
USA News Group News CommentaryIssued on behalf of Oncolytics Biotech Inc. VANCOUVER, BC, July 23, 2025 /CNW/ — USA News Group News Commentary – Cancer diagnoses are climbing fastest among younger women, sparking alarm that looming cuts to U.S. research budgets could stall progress in prevention and treatment. Adding to the strain, federal and state regulators are re‑examining mRNA vaccines, creating a cloud of uncertainty over future cancer‑funding priorities. Yet even amid this policy turbulence, a new wave of oncology innovators is lining up near‑term milestones that could reshape the landscape—led by Oncolytics Biotech Inc. (NASDAQ: ONCY) (TSX: ONC), Cue Biopharma, Inc. (NASDAQ: CUE), Verastem, Inc. (NASDAQ: VSTM), Allogene Therapeutics, Inc. (NASDAQ: ALLO), and Perspective Therapeutics, Inc. (NYSE-American: CATX). While regulatory red tape tightens, surging diagnoses of colorectal and other GI cancers in young people demand quicker innovation in oncology. Forecasts suggest worldwide cancer‑drug revenues could blow past US$900 billion by 2034. Within that, next‑gen therapies built on precision techniques are slated to reach US$175.2 billion, advancing at a brisk 7.35% annual clip. Oncolytics Biotech Inc. (NASDAQ: ONCY) (TSX: ONC) recently held a well‑attended key opinion leader (KOL) webinar where pancreatic and gastrointestinal cancer specialists dissected pelareorep's clinical history, its biomarker data package, and where the oncolytic virus could slot into evolving chemotherapy and immunotherapy regimens. 'I want to thank our esteemed panel of oncologists for their meaningful contributions to our KOL event,' said Jared Kelly, CEO of Oncolytics. 'Their insights underscore a critical and timely message: pelareorep is a compelling immunotherapy platform that is well situated for combination strategies and a highly differentiated asset for pharma partners looking to expand or establish leadership in GI oncology. We are committed to moving forward aggressively toward registrational development while engaging with partners who share our vision of transforming outcomes in these difficult-to-treat cancers.' The panel revisited survival gains in metastatic pancreatic ductal adenocarcinoma (mPDAC), reviewed translational evidence of 'cold‑to‑hot' tumor conversion, and outlined next steps for a registration-enabling study. Management said feedback from the discussion would inform both upcoming trial designs and partnering talks now underway. The event came on the heels of Oncolytics having rolled out an expanded translational‑data review that tightened the scientific case for pelareorep, an intravenously delivered oncolytic reovirus. Renewed analyses from the GOBLET gastrointestinal cancer study and the AWARE‑1 breast cancer study confirmed that the virus replicates inside tumors, switches on interferon signaling in the immune system, and draws tumor‑infiltrating lymphocytes into the tumor microenvironment. 'This robust data set, amassed from several studies in cancers that have historically resisted immunotherapeutic approaches, provides definitive validation of pelareorep's immune-mediated mechanism of action,' said Dr. Thomas Heineman, Chief Medical Officer of Oncolytics. 'We observed tumor biopsy-confirmed virus replication, immune cell activation, and the recruitment of cytotoxic T cells into the TME – all consistent with the durable responses observed in patients with metastatic PDAC and HR+/HER2- breast cancer who were treated with pelareorep.' Investigators also recorded higher PD‑L1 expression and tracked newly expanded cytotoxic T‑cell clones in blood samples that matched those inside shrinking lesions—molecular fingerprints that point to stronger responses when pelareorep is combined with standard-of-care treatments and checkpoint inhibitors. 'The collection of data here show that pelareorep works how a cancer immunotherapy should work,' said Jared Kelly, CEO of Oncolytics. 'Pelareorep is a versatile product candidate with strong platform potential to enhance immunological responses in multiple indications, including hard-to-treat cancers. Such compelling findings should be exciting to strategic partners focused on finding a platform immunotherapy in large indications with high unmet medical needs.' Clinical outcomes already hint at real‑world benefit. In more than 100 first‑line mPDAC patients, pelareorep‑based regimens achieved a 21.9% two‑year overall‑survival rate versus a 9.2% historical benchmark. A separate single‑arm study that paired pelareorep with chemotherapy and a checkpoint blocker produced a 62% objective‑response rate—especially notable given that no checkpoint therapy is approved in this cancer today. In hormone‑receptor‑positive, HER2‑negative metastatic breast cancer (HR+/HER2‑ mBC), two randomized trials added more than ten months of median overall survival, while BRACELET‑1 nearly doubled median progression‑free survival to 12.1 months compared with 6.4 months for control patients. To steer these data toward value‑creating deals and late‑stage trials, the company strengthened its leadership earlier this year by appointing industry veteran Jared Kelly as CEO and naming Andrew Aromando Chief Business Officer. The duo previously helped guide Ambrx Biopharma into a US$2 billion sale to Johnson & Johnson, experience the board believes will support capital‑efficient development and strategic partnering for pelareorep. 'Pelareorep's clinical data across multiple tumors is striking and represents the potential for a true backbone immunotherapy to address many in-need indications,' said Kelly. 'With a renewed focus and sharpened clinical development plan, we believe we will move pelareorep forward effectively and efficiently to a place where potential partners will see the value of a de-risked immunotherapy.' As CBO, Aromando is now leading global business development and helping shape the company's corporate, clinical, and regulatory strategies. The leadership tandem is expected to prioritize partnering and expansion opportunities while preserving capital efficiency—a strategy well-suited for pelareorep's growing clinical profile. 'I'm thrilled to join Oncolytics at such a pivotal moment in its evolution,' said Aromando. 'With promising data in difficult-to-treat cancers and a compelling body of clinical evidence in over 1,100 patients, I believe the Company is uniquely positioned to deliver meaningful value to patients and other stakeholders in the near term.' Pelareorep currently holds FDA Fast Track designations in mPDAC (pancreatic cancer) and HR+/HER2‑ mBC (breast cancer), along with Orphan‑Drug status for pancreatic cancer in the United States and Europe. With mechanistic proof, survival data that outperform historical controls, and fresh validation from the recent KOL event, Oncolytics Biotech is aligning its clinical, regulatory, and business strategies to move pelareorep into registration‑enabling trials and position it as a backbone immunotherapy across solid tumors. CONTINUED… Read this and more news for Oncolytics Biotech at: In other recent industry developments and happenings in the market include: Cue Biopharma, Inc. (NASDAQ: CUE) recently reported that adding CUE‑101 to pembrolizumab produced a 50% overall response rate in patients with recurrent/metastatic HPV‑positive head and neck cancer who had a combined positive score (CPS) ≥ 1, including the same 50% response in those with low CPS 1–19. The regimen has now generated two complete responses, an 88% 12‑month overall survival rate, and a median overall survival of 32 months, handily outperforming historical pembrolizumab data. 'The culmination of maturing data further support our conviction that CUE-101, representative of our approach with the CUE-100 series, demonstrates a potential breakthrough therapeutic approach for establishing a new standard of care,' said Dan Passeri, CEO of Cue Biopharma. 'With this maturing data, we are further emboldened in our conviction that our Immuno-STAT® platform represents transformative potential for selectively modulating the patient's immune system.' Verastem, Inc. (NASDAQ: VSTM) recently published Phase 2 RAMP 201 results in the Journal of Clinical Oncology, showing avutometinib + defactinib delivered a 31% confirmed overall response rate in recurrent low‑grade serous ovarian cancer, rising to 44% in KRAS‑mutant tumors. 'The publication of the primary analysis of the RAMP 201 study in recurrent low-grade serous ovarian cancer in the Journal of Clinical Oncology reflects the meaningful clinical advancement demonstrated by the combination of avutometinib plus defactinib for patients with recurrent low-grade serous ovarian cancer,' said John Hayslip, M.D., Chief Medical Officer at Verastem Oncology. 'The findings supported the recent FDA approval of the combination in KRAS-mutated recurrent low-grade serous ovarian cancer and our ongoing global Phase 3 RAMP 301 trial of the combination in recurrent low-grade serous ovarian cancer with and without a KRAS mutation.' Median progression‑free survival reached 12.9 months overall and 31.0 months in the KRAS‑mutant subgroup, with 82% of patients experiencing some tumor shrinkage regardless of mutation status. Back in June, Allogene Therapeutics, Inc. (NASDAQ: ALLO) presented updated Phase 1 TRAVERSE data showing a single dose of ALLO‑316 achieved a 31% confirmed response rate in heavily pre‑treated renal cell carcinoma patients whose tumors expressed CD70 in ≥ 50 % of cells. 'ALLO-316 is showing clear evidence of targeted antitumor activity in patients who had failed most or all approved therapies for advanced or metastatic renal cell carcinoma,' said Zachary Roberts, M.D., Ph.D., EVP, Research and Development and Chief Medical Officer at Allogene. 'Our proprietary Dagger technology allows the use of a standard cyclophosphamide and fludarabine-based lymphodepletion regimen with a single dose of ALLO-316. Strong CAR T-cell kinetics and extensive infiltration of tumor tissue by CAR T cells are combining to generate deep and durable remissions. These are results that were previously considered out of reach for patients with advanced solid tumors.' Four of five responders remain in remission—including one lasting more than 12 months—while safety remained manageable with no graft‑versus‑host disease observed. Investigators say the results highlight allogeneic CAR T's potential in solid tumors and justify continued expansion of the study. Perspective Therapeutics, Inc. (NYSE-American: CATX) recently began recruiting the third dose‑escalation cohort of its Phase 1/2a trial testing [²¹²Pb]VMT‑α‑NET in unresectable or metastatic somatostatin receptor 2 (SSTR2)‑positive neuroendocrine tumors, raising the fixed dose by 20% to 6 mCi. Earlier cohorts showed anti‑tumor activity with mostly low‑grade adverse events, prompting FDA alignment to explore whether the higher dose can further enhance efficacy. 'We are excited to start exploring a higher dose level of VMT-α-NET after successfully completing an interaction with the FDA that was agreed prior to commencement of this trial,' commented Markus Puhlmann, Chief Medical Officer of Perspective. 'We are encouraged by the overall clinical profile observed at the second dose level of VMT-α-NET—including evidence of anti-tumor activity and primarily low-grade adverse events—and we believe it is important to assess whether a higher dose could further improve the therapeutic profile.' The company plans additional safety and efficacy readouts, including dosimetry analyses, at scientific meetings in 2H 2025. Source: CONTACT:USA NEWS GROUPinfo@ 265-2873 DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ('MIQ'). MIQ has been paid a fee for Oncolytics Biotech Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Oncolytics Biotech Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Oncolytics Biotech Inc. which were purchased in the open market, and reserve the right to buy and sell, and will buy and sell shares of Oncolytics Biotech Inc. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ has been approved by Oncolytics Biotech Inc.; this is a paid advertisement, we currently own shares of Oncolytics Biotech Inc. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. Logo –


Free Malaysia Today
30 minutes ago
- Free Malaysia Today
Corporate Malaysia's Q2 earnings likely to be damp squib
Maybank Investment Bank forecasts a modest 2.5% earnings growth for the FBM KLCI in 2025. (Bernama pic) PETALING JAYA : Investors hoping for better second-quarter (Q2) earnings from listed companies will likely be left high and dry as Corporate Malaysia is expected to continue the underperformance of Q1 2025. Maybank Investment Bank (Maybank IB) said the upcoming Q2 results season may be muted, reflecting challenges from external uncertainties, particularly the ongoing US-Malaysia tariff negotiations. 'The Q2 results season may yet be another unexciting one but at least one with fewer earnings downgrades,' it said in a strategy note. The research house forecasts a modest 2.5% earnings growth for the FBM KLCI this year, primarily weighed down by the banking sector. However, it anticipates a stronger rebound in 2026 with a projected growth of 7.7%. It has a base case target of 1,660 points for the FBM KLCI, pegged to 14.4 times 2026 estimated price-to-earnings ratio (PER). 'Our base case assumes further de-escalation in trade tensions and favourable outcome from tariff negotiations,' it added. Some bright spots Despite the softer external environment, Maybank IB said there are 'bright spots' to be found. It noted Malaysia's domestic economic fundamentals appear encouraging, pointing to robust consumer activity, a sustained investment cycle, and signs of resilient private demand as cushioning the impact of weaker exports. The economy grew at 4.5% in Q2, slightly faster than the 4.4% year-on-year growth in Q1 as resilient consumer demand offset weaker exports. This suggests a steady growth momentum and indicates external headwinds due to US tariffs are being mitigated by domestic tailwinds, it noted. Maybank IB said investors should watch out for weakness in the technology sector. Banks are 'unlikely to yield much surprise' even as it watches for lower loan growth. However, it expects some positive momentum for construction, healthcare, property, and more selectively, the oil and gas, and utilities sectors. It said most plantation companies would be weaker quarter-on-quarter due to lower crude palm oil prices, though some could book gains from disposal and forex exchange movements. Consumer and real estate investment trusts are expected to be softer, after a seasonally strong first quarter.


Free Malaysia Today
44 minutes ago
- Free Malaysia Today
China, Hong Kong shares extend rally on Tibet dam project boost
China's blue-chip CSI300 Index climbed 0.4% by the lunch break. (EPA Images pic) SHANGHAI : China stocks climbed to an eight-month high today, while Hong Kong shares extended gains to a multi-year peak, driven by construction and power firms after work began on a major dam project in Tibet, billed as the world's largest. China's blue-chip CSI300 Index climbed 0.4% by the lunch break, while the Shanghai Composite Index gained 0.3%. Hong Kong benchmark Hang Seng added 0.3%. The Hang Seng Index rose to 25,120, the highest since November 2021, while the CSI 300 Index touched its strongest point since November 2024. Some construction and power stocks extended rallies after China announced over the weekend the start of construction on a US$170 billion hydropower dam in Tibet. Shanghai-listed Anhui Conch Cement jumped more than 6%, while Power Construction Co of China hit the daily maximum of 10%. 'Investors usually don't care much about the real economy in such a bull market, especially with the rise of their confidence in Beijing's capability in handling any economic cracks,' said Ting Lu, chief China economist at Nomura. 'Easing US-China tensions, Beijing's push for long-term funds to invest in stocks and renewed confidence in the country's manufacturing sector lifted sentiment,' Lu noted. 'However, if stock markets lose steam, investors might shift more attention to the real economy, which will likely face some challenges in the second half of this year (H2 2025),' Lu said. Meanwhile, the CSI Banks Index lost 1.1%, while healthcare shares rose 1%. US treasury secretary Scott Bessent said yesterday that Washington and Beijing would hold talks 'in the very near future,' with discussions potentially covering China's purchases of Iranian and Russian oil.