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Oil Shock Rattles Global Markets
Fri, 13-Mar-2026 07:28 am
by Research Team • Apex Research

Malaysia Market Review: The FBM KLCI (+0.13%) edged higher on Thursday after reversing earlier losses to close at its intraday high, as late bargain-hunting in selected index heavyweights lifted sentiment. Market breadth was slightly positive, with 538 advancers outpacing 533 decliners. Sector-wise, Industrial Products (+1.58%), Construction (+1.47%), and Plantation (+1.45%) led gains, while Telecommunications & Media (-0.84%), Finance (-0.61%), and Property (-0.34%) were the main laggards.

Global Markets. Wall Street closed broadly lower on Thursday, with the Nasdaq (-1.78%), Dow (- 1.56%) and S&P 500 (-1.52%) retreating as escalating tensions in the U.S.-Iran war weighed on sentiment. Oil prices surged above US$100 per barrel again amid fears of supply disruptions after Iran signalled that the Strait of Hormuz could remain closed. Meanwhile, shipping activity in the key waterway has largely stalled following multiple attacks on vessels in the Persian Gulf, raising concerns over prolonged disruptions to global energy supply and adding pressure on global markets (CNBC). In Europe, the STOXX 600 (-0.61%) closed lower, weighed down by declines in banking stocks (CNBC). Asian equities closed lower, led by declines in the Nikkei 225 (-1.04%), Hang Seng (-0.70%), and Shenzhen Composite (-0.63%).

Market Outlook. Global sentiment is expected to remain cautious as the Middle East conflict intensifies, raising concerns over severe disruptions to global energy supply. Iran has vowed to keep the Strait of Hormuz closed and step up attacks on regional shipping and U.S. bases, while multiple tanker strikes in the Persian Gulf and Iraqi ports have already disrupted crude flows. Oil prices have surged back above US$100 per barrel amid escalating risks, potentially reigniting global inflation concerns and dampening risk appetite. Against this backdrop, markets are likely to remain volatile in the near term as investors closely monitor geopolitical developments and their implications for global growth, energy security and inflation dynamics.

Sector focus. Maintain a bias towards export-oriented sectors amid geopolitical risks and currency volatility, while energy and plantation sectors may benefit from higher oil prices. Meanwhile, in a volatile environment, defensive yield plays such as REITs and utilities remain attractive.

 

FBMKLCI Technical Outlook

Technical Commentary: The FBM KLCI continues to trade above its prevailing uptrend line. This suggests that the broader bullish structure remains intact for now. As long as the index holds 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)

Bursa Malaysia Bhd said recent cybersecurity incidents involving several brokers did not affect the exchange’s systems, adding that the incidents were confined to the respective brokers while market operations remain unaffected. (The Edge)


Eco World Development Group Bhd posted a record 1QFY2026 net profit of RM156.4m, nearly doubling y-o-y, as revenue surged to RM1.35b following the completion of two industrial land sales. The group declared a two sen interim dividend. (The Edge)


Bermaz Auto Bhd’s 3QFY2026 net profit rose 35.2% y-o-y to RM32.63m, supported by higher sales volume from XPeng and Mazda operations, while revenue increased to RM683.23m. The group declared a dividend of 1.75 sen per share. (The Edge)


GDB Holdings Bhd said the developer of the 8 Conlay project is appealing a High Court decision ordering payment of RM102.8m to its unit for unpaid construction works. (The Edge)


MN Holdings Bhd secured a RM216m contract to build a substation for a data centre in southern Peninsular Malaysia, with works running from Feb 1 until Sept 30. (The Edge)


Cape EMS Bhd’s US unit iConn Inc entered a three-year manufacturing agreement with Guardian South East Asia to support expansion under its asset-light strategy. (The Edge)


PeterLabs Holdings Bhd saw former executive director Datuk Loh Saw Foong and his wife cease to be substantial shareholders after disposing of their shareholdings. (The Edge)


FBG Holdings Bhd secured a RM15.52m contract to construct factory units in Temasya Glenmarie, Shah Alam, with completion expected within two years. (The Edge)
 

Sentiment: Neutral
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Market Mover
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Currency Buy Rates (RM) Sell Rates (RM)
USD 3.913032 3.940617
EUR 4.536256 4.541107
CNY 0.571200 0.571806
HKD 0.499861 0.503393
SGD 3.069221 3.090967