Opening Daily Highlight
Mixed
Tariff Policy Uncertainty Keeps Markets Cautious
Fri, 27-Feb-2026 08:00 am
by Research Team • Apex Research

Malaysia Market Review: The FBM KLCI fell 0.39% on Thursday amid profit-taking activities in heavyweight financial stocks. Market breadth was negative, with 743 decliners outpacing 370 advancers. Sector-wise, Construction (+1.52%), Telecommunications & Media (+0.42%) and Industrial Products (+0.22%) led gains, while Energy (-1.33%), Finance (-0.76%) and Consumer (-0.70%) were the main laggards.

 

Global Markets. Wall Street ended mixed on Thursday, with the Nasdaq (-1.18%) and S&P 500 (-0.54%) declining while the Dow edged higher (+0.03%), as investors reassessed AI valuations despite strong earnings from NVIDIA. In Europe, the STOXX 600 (-0.05%) closed marginally lower,as healthcare and technology stocks weighed on the index, partially offset by upbeat corporate earnings that helped cushion the overall decline. Asian markets ended mixed, with the Nikkei 225 (+0.29%) edging higher, while the Shanghai Composite (-0.01%) closed marginally lower and the Hang Seng (-1.44%) declined.

 

Market Outlook. Global sentiment remained cautious amid lingering legal uncertainty surrounding US tariff policies, adding to broader trade-related policy overhang. The ruling that certain tariffs were unlawful has raised concerns over potential legal disputes, which may continue to cloud the global trade outlook. For Malaysia, lingering external uncertainties may temper foreign fund flows. Overall, the FBM KLCI is expected to trade range-bound in the near term, as investors are likely to focus on upcoming corporate earnings, while persistent external uncertainties may cap near-term upside.

 

Sector focus.We favour the consumer sector, supported by ringgit strength that should ease imported cost pressures alongside a tourism rebound under Visit Malaysia 2026 that is expected to lift domestic spending. Meanwhile, banking and REITs remain attractive given their stable earnings visibility and attractive dividend yields.

 

FBMKLCI Technical Outlook

Technical Commentary: Late buying interest pared earlier losses in the FBM KLCI. Momentum remains mixed, with the MACD line trading below the signal line and the RSI above 50. Resistance is located at 1,775, while support is envisaged around 1,720.

 

Company News (source: various)

Malayan Banking Berhad reported 4QFY2025 net profit rose 5.7% YoY to RM2.68 billion, supported by lower provisions and stronger interest income. The group declared a dividend of 33 sen per share and recorded FY2025 net profit growth of 4.2%.

 

Affin Bank Berhad saw 4Q net profit slips 6% YoY to RM127.6 million due to higher provisions, despite stronger non-interest income. Full-year earnings rose 6%, with a final dividend of 8.53 sen declared.

 

MBSB Berhad posted a 97.6% plunge in 4Q net profit to RM3.64 million, hit by heavy credit loss provisions. FY2025 net profit fell 31.3% as revenue declined.

 

Tenaga Nasional Berhad more than doubled 4Q net profit to RM1.68 billion on a 22.4% rise in revenue. FY2025 earnings grew 19.8%, with a final dividend of 28 sen declared.

 

YTL Corporation Berhad recorded lower earnings due to weaker power prices, while Malayan Cement Berhad remained a bright spot with profit rising 26.2% on stronger revenue.

 

Genting Berhad slipped into a FY2025 net loss due to impairments, whereas Genting Malaysia Berhad returned to profitability in 4Q on forex gains.

 

Press Metal Aluminium Holdings Berhad delivered record 4Q earnings of RM592.14 million, with net profit rising 31.7% YoY on higher sales volume and stronger metal prices.

 

Axiata Group Berhad narrowed its 4Q net loss significantly, though FY2025 net profit declined more than 60% due to asset write-downs.

 

IJM Corporation Berhad reported an 86.1% drop in quarterly profit, dragged by substantial unrealised forex losses.

 

DRB-Hicom Berhad swung to a 4Q profit on acquisition-related gains, lifting FY2025 earnings sharply higher.

 

AirAsia X Berhad posted strong 4Q earnings growth driven by higher ticket fares and stronger ancillary revenue, though full-year profit eased slightly.

 

Zetrix AI Berhad achieved record quarterly and annual profits, driven by blockchain service fees and token sales.

 

Duopharma Biotech Berhad reported record FY2025 earnings supported by resilient demand and revenue growth.

 

KPJ Healthcare Berhad posted record quarterly earnings, with revenue and profit reaching new highs.

 

Inari Amertron Berhad saw profit fall sharply due to weaker volumes and unfavourable forex movements.

 

7-Eleven Malaysia Holdings Berhad narrowed its quarterly loss as revenue improved on store expansion, though full-year profit declined.

 

Sime Darby Berhad recorded a 41% rise in quarterly net profit, driven by stronger performance in its motors division.

Sentiment: Neutral
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