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Iran Vows to Fight On
Mon, 16-Mar-2026 07:37 am
by Research Team • Apex Research

Malaysia Market Review: The FBM KLCI (-0.71%) closed lower on Friday, tracking weakness across regional markets amid escalating Middle East tensions and rising oil prices. Market breadth was negative, with 617 decliners outpacing 451 advancers. Sector-wise, Healthcare (+2.24%), Utilities (+0.40%), and Energy (+0.17%) led gains, while Construction (-1.23%), Consumer (-1.20%) and Technology (-1.18%) were the main laggards.

 

Global Markets. Wall Street ended lower on Friday, with the Dow (-0.08%), S&P 500 (-0.60%) and Nasdaq (-0.94%) extending their weekly losses as investors monitored developments in the ongoing Iran conflict (CNBC). Sentiment remained cautious after US President Donald Trump said Iranian officials had reached out to discuss a potential deal but the terms were “not good enough yet”, while Iranian Foreign Minister Abbas Araghchi stated that Tehran never sought a ceasefire with the US and is prepared for a prolonged conflict, adding to market uncertainty (Yahoo Finance). In Europe, the STOXX 600 (-0.50%) also closed lower as investors assessed the potential impact of escalating Middle East tensions on global growth prospects (CNBC). Meanwhile, Asian equities ended broadly weaker, led by declines in the Nikkei 225 (-1.16%), Hang Seng (-0.98%) and Shenzhen Composite (-0.82%) amid renewed concerns that a prolonged Middle East conflict could disrupt energy supplies (CNBC).

 

Market Outlook. Brent crude extended its rally last week, rising 2.10% to USD103.89/bbl after U.S. President Donald Trump ordered strikes on Iranian military assets on Kharg Island on Friday. While the strikes reportedly left oil infrastructure unscathed, Trump warned that the U.S. could target crude facilities on the island if Iran continues to block the critical Strait of Hormuz, potentially triggering severe retaliation by Tehran and keeping oil prices elevated (CNBC). The surge in oil prices has heightened fears on Wall Street of a potential stagflationary environment characterised by rising inflation and slower economic growth, prompting investors to scale back expectations for U.S. Federal Reserve rate cuts, with markets now pricing in only one potential cut in December (Yahoo Finance). Against this backdrop, Bursa Malaysia is expected to trade cautiously as investors monitor developments in the ongoing U.S.–Iran conflict and movements in global energy prices. The FTSE Bursa Malaysia KLCI, which closed at 1,698.51 last week, is expected to remain sensitive to geopolitical developments and regional market trends. Investor attention will also turn to the upcoming Federal Open Market Committee (FOMC) meeting scheduled for 17–18 March for further policy signals.

 

Sector focus.We favour the export-oriented sectors amid ongoing geopolitical tensions and currency volatility. Higher oil prices could support the energy and plantation sectors, while defensive yield plays such as REITs and utilities remain attractive as investors seek stability in a volatile environment.

 

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)

 

Cahya Mata Sarawak Bhd said its subsidiaries, wholly owned Samalaju Industries Sdn Bhd and 80.19%-owned Cahya Mata Phosphates Industries Sdn Bhd, have lost an arbitration dispute against Malaysian Phosphate Ventures Sdn Bhd (MPV). (The Edge)

 

Chin Hin Group Property Bhd is buying an industrial property in Kota Damansara from Signature International Bhd for RM66 million cash for redevelopment purposes. (The Edge)

 

Eco World Development Bhd has teamed up with Johor Corp Bhd's real estate arm, JLand Group, to undertake two projects in Johor and a residential development in Australia. (The Edge)

 

EXSIM Hospitality Bhd has secured a RM73.66 million subcontract from Binastra Corporation Bhd for the supply and installation of building services and general building works. (The Edge)

 

Inta Bina Group Bhd has secured a RM49 million contract to build factory buildings in Malaysia Vision Valley 2.0’s integrated industrial park in Port Dickson, Negeri Sembilan. (The Edge)

 

NexG Bhd has appointed businessman Datuk Ishak Ismail and his son, Mohamed Najib Ishak, to its board, along with seven other independent directors, following a short-lived boardroom tussle. (The Edge)

 

Propel Global Bhd’s joint venture with China State Construction Engineering (M) Sdn Bhd has secured RM59.04 million worth of additional works for a data centre development in Johor Bahru. (The Edge) 

 

Scientex Bhd’s net profit for the second quarter ended Jan 31, 2026 (2QFY2026) rose 9.1% year-on-year (y-o-y) to RM135.2 million, thanks to improvement in both its property and packaging businesses. (The Edge)

 

Sunway Bhd’s takeover bid for IJM Corporation Bhd is “not fair” and “not reasonable”, said independent adviser M&A Securities. (The Edge)

 

Sunway Real Estate Investment Trust is establishing a sustainability-linked commercial papers programme of up to RM3 billion in nominal value. (The Edge)

 

Theta Edge Bhd said its subsidiary is taking legal action against the Energy Commission over the alleged unlawful termination of a contract for the provision of services. (The Edge)

Sentiment: Negative
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