Malaysia Market Review: The FBM KLCI extended its downward momentum, falling 1.40% as profit-taking persisted, despite most index constituents reporting results broadly in line with expectations. Market breadth was negative, with 838 decliners outpacing 381 advancers. Sector-wise, Technology (+0.54%), Transport & Logistics (+0.12%) and Healthcare (+0.02%) led gains, while Industrial Products (-2.57%), Finance (-1.79%) and Construction (-1.63%) were the main laggards.
Global Markets. Wall Street ended lower on Friday, with the Dow (-1.05%), Nasdaq (-0.92%) and S&P 500 (-0.43%), as investors reassessed the broader implications of AI adoption across sectors and the economy. In contrast, Europe’s STOXX 600 (+0.11%) edged higher after touching a fresh intraday record of 636.16 in morning trade. The modest gains came despite a weaker lead from Wall Street overnight, where a sharp slide in Nvidia weighed on the Nasdaq, even after the chipmaker delivered record quarterly results. Asian markets ended higher, with the Nikkei 225 (+0.16%) edging up, the Shanghai Composite (+0.39%) closing modestly higher, and the Hang Seng (+0.95%) leading gains across the region.
Market Outlook. Global sentiment remains fragile amid heightened geopolitical tensions involving Iran, raising renewed concerns over potential disruptions to Middle East crude supply routes. While OPEC+ has signalled a modest output increase to stabilise the market, the additional supply may only partially offset disruption risks should tensions escalate further. Crude prices have turned more volatile, with tail risks skewed to the upside in a scenario of sustained supply constraints, particularly around the Strait of Hormuz. This could revive inflation concerns, delay monetary easing expectations, and weigh on broader risk sentiment. For Malaysia, firmer oil prices may lend support to energy-linked counters. However, persistent external uncertainties and potential volatility in foreign fund flows are likely to cap broader market upside. As such, the FBM KLCI is expected to trade range-bound in the near term, with investors focusing on corporate earnings and macro developments while navigating heightened geopolitical risk.
Sector focus.We favour the consumer sector, supported by Ringgit strength that should ease imported cost pressures, alongside tourism recovery momentum ahead of Visit Malaysia 2026, which is expected to bolster domestic spending. Meanwhile, banking and REITs remain attractive given their defensive earnings profile and compelling dividend yields amid a volatile external backdrop.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI closed lower on Friday following a broad-based selloff, breaking below the key 1,720 support level. Indicators turned negative, with the MACD line trading below the signal line and the RSI below 50. Resistance is located at 1,775, while support is envisaged around 1,695.
Company News (source: various)
Sunway Bhd founder Tan Sri Dr Jeffrey Cheah said the proposed takeover of IJM Corp Bhd will be withdrawn if shareholders do not accept the offer by the early April deadline.
Tenaga Nasional Bhd announced the promotion of Datuk Shamsul Ahmad, its current chief regulatory and stakeholder management officer, as its new president and chief executive officer, effective March 1.
CIMB Group Holdings Bhd’s net profit for the fourth quarter ended Dec 31, 2025 (4QFY2025) rose 6.6% year-on-year (y-o-y) to RM1.92 billion, driven by lower provisions and stronger interest income.
Hong Leong Bank Bhd’s net profit for 2QFY2026 was flattish y-o-y at RM1.17 billion, as higher loan impairment losses and lower contribution from an associate offset gains in net interest income and cost savings.
RHB Bank Bhd’s net profit for 4QFY2025 rose 8.5% y-o-y to RM905.71 million, driven by a surge in non-interest income and sharply lower provisions.
IHH Healthcare Bhd’s net profit for 4QFY2025 declined 27.9% y-o-y to RM528 million, mainly due to foreign exchange paper losses from a stronger ringgit.
PPB Group Bhd posted a net loss of RM3.2 billion for 4QFY2025, compared to a net profit of RM365.2 million a year earlier, dragged by a huge RM4.17 billion charge on its investment in Singapore-listed Wilmar International Ltd.
Leong Hup International Bhd's net profit for 4QFY2025 rose 27.7% y-o-y to a record high of RM179.88 million on improved margins.
IOI Properties Group Bhd’s net profit for 2QFY2026 jumped over seven-fold y-o-y to RM708.84 million, driven by a huge RM567.1 million fair value gain on its investment properties, and contributions from its full ownership of Scottsdale Properties Pte Ltd.
IGB Bhd’s net profit for 4QFY2025 rose 20% y-o-y to RM99.14 million, thanks to a surge in rental income and home sales. Revenue for the quarter climbed 14% y-o-y to RM499.6 million, led by a jump at its Southkey Megamall and sale of condominium units at Southpoint Residences.
S P Setia Bhd’s net profit for 4QFY2025 surged 165.6% y-o-y to RM275.10 million, driven by higher contributions from its property development segment.
Mah Sing Group Bhd’s net profit for 4QFY2025 rose 2.2% y-o-y to RM61.8 million, while revenue fell 10.7% to RM665 million.
D&O Green Technologies Bhd posted its second-largest quarterly loss of RM60.11 million in 4QFY2025, after it reported its highest-ever quarterly loss of RM169 million in the preceding quarter, due to more inventory impairment.
VSTECS Bhd’s net profit for 4QFY2025 jumped 60% y-o-y to RM34.48 million, driven by higher sales contributions from all three business segments and stronger contributions from its associate company.
Dagang NeXchange Bhd’s posted its largest-ever quarterly net loss of RM270.93 million in 4QFY2025, dragged by massive impairments.
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| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 3.878434 | 3.909825 |
| EUR | 4.590523 | 4.595422 |
| CNY | 0.567561 | 0.568180 |
| HKD | 0.495911 | 0.499417 |
| SGD | 3.065484 | 3.087199 |