Malaysia Market Review: The FBM KLCI gained (+0.28%) on Friday, extending its rebound for a second consecutive session as bargain-hunting emerged following earlier weakness during the week. Sentiment was supported by strong buying interest in Petronas Chemicals, which surged 22.2% to RM4.29, contributing 10.3 points to the index’s advance. Market breadth was negative, with 675 decliners outpacing 411 advancers. Sector-wise, Industrial Products (+2.37%), Energy (+1.32%), and Plantation (+0.75%) led gains, while Technology (-1.19%), Property (-0.69%), and Consumer (-0.61%) were the main laggards.
Global Markets. Wall Street closed lower on Friday, with the Dow (-0.95%), Nasdaq (-1.59%) and S&P 500 (-1.33%) retreating as investors reacted to a weaker-than-expected US payrolls report. The disappointing labour data raised concerns that the US economy may be losing momentum, while surging oil prices further complicated the Federal Reserve’s policy outlook (The Edge). In Europe, the STOXX 600 (-1.02%) closed lower, with most regional bourses and sectors ending in negative territory (CNBC). Asian equities, however, closed broadly higher, led by gains in the Hang Seng (+1.72%), Nikkei 225 (+0.62%), and Shenzhen Composite (+0.59%).
Market Outlook. Market sentiment is likely to remain cautious today as oil prices climbed above $100 per barrel amid the escalating U.S.–Iran conflict, raising concerns that higher energy prices could weigh on global equity markets. Recent remarks by US President Donald Trump suggesting the possibility of expanding military strikes against additional targets in Iran signal a further intensification of the conflict, raising concerns over a prolonged regional war (The Edge). Against this backdrop, markets may experience elevated volatility as investors assess the potential implications for global inflation and energy prices. While firmer crude prices could lend support to energy-related counters on Bursa Malaysia, broader market sentiment may remain cautious amid ongoing geopolitical uncertainty and currency fluctuations.
Sector focus. Pivot towards energy and export-oriented sectors amid heightened geopolitical risks and crude price volatility. USD-linked exporters may benefit from ringgit weakness, while banking and REITs remain attractive for their resilient earnings visibility and stable dividend yields.
FBMKLCI Technical Outlook
Technical Commentary: The FBM KLCI continues to trade above its prevailing uptrend line, with the index staging a rebound after briefly testing the lower bound of the rising trend channel. This suggests that the broader bullish structure remains intact for now. Nevertheless, near-term momentum remains weak, as reflected by the negative MACD reading and subdued RSI levels. As long as the index sustains above the 1,685–1,690 support zone, the prevailing uptrend is likely to remain intact. A decisive break below this level would weaken the technical structure and may signal a deeper corrective phase.
Company News (source: various)
Gamuda Bhd posted a 5% y-o-y rise in 2QFY2026 net profit to RM229.5m as stronger domestic project contributions offset slower foreign billings, while revenue increased 10% to RM4.3b. The group expects local projects to continue supporting earnings momentum. (TheEdge)
Mr DIY Group (M) Bhd plans to establish a RM5b sukuk wakalah programme to support working capital needs and refinance existing borrowings through the issuance of Islamic medium-term notes and commercial papers. (TheEdge)
CelcomDigi Bhd and Maxis Bhd each paid RM327.9m to acquire shares in Digital Nasional Bhd from MOF Inc and settle outstanding loans, strengthening their participation in Malaysia’s 5G infrastructure development. (TheEdge)
AirAsia X Bhd appointed former Axiata Group chief Tan Sri Jamaludin Ibrahim as its non-executive chairman, replacing Datuk Fam Lee Ee, who will remain on the board as a non-independent nonexecutive director. (TheEdge)
Gas Malaysia Bhd named former Siemens executive Azli Mohamed as president and CEO-elect, effective March 9, as part of a structured leadership transition to succeed long-serving CEO Ahmad Hashimi Abdul Manap. (TheEdge)
Leong Hup International Bhd secured leave from the High Court to commence a judicial review of the Competition Appeal Tribunal’s decision to dismiss its appeal against a price-fixing fine imposed by the Malaysia Competition Commission. (TheEdge)
Media Prima Bhd saw Datuk Seri Johari Abdul Ghani and his son Amir Nashrin emerge as the largest shareholder bloc with a combined 32.96% stake, just below the threshold that would trigger a mandatory general offer. (TheEdge)
ITMAX System Bhd saw the Employees Provident Fund (EPF) emerge as a substantial shareholder after increasing its stake to 5.005%. (TheEdge)
Timberwell Bhd saw Tourism Minister Tiong King Sing dispose of his entire stake after accepting a takeover offer from the company’s largest shareholder Wong Wai Foo. (TheEdge)
Ekovest Bhd secured a 54-year concession agreement with the government for the Laluan Istana– Kiara Expressway under Phase 2A of the DUKE highway, with an estimated construction cost of RM2.32b. (TheEdge)
Leform Bhd will receive a RM25m investment from Nippon Steel’s trading arm in exchange for a 10% stake via private placement to support raw material procurement and operational efficiency. (TheEdge)
AME Elite Consortium Bhd is acquiring two parcels of freehold industrial land in Senai, Johor for RM101.2m to expand its land bank and develop an industrial cluster. (TheEdge)
Wawasan Dengkil Holdings Bhd secured a RM116.4m subcontract to undertake earthworks for the UMW High Value Manufacturing Park in Serendah, covering multiple phases across about 81.95 acres. (TheEdge)
QL Resources Bhd will acquire remaining stakes in an Indonesian plantation firm and a joint venture company for US$14.65m as part of a settlement to resolve a five-year dispute. (TheEdge)
Bina Puri Holdings Bhd secured a RM42.5m contract to undertake construction works for a project in Limbang, Sarawak. (TheEdge)
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| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 3.910377 | 3.937879 |
| EUR | 4.569448 | 4.574274 |
| CNY | 0.570355 | 0.570962 |
| HKD | 0.499714 | 0.503245 |
| SGD | 3.073223 | 3.095012 |