Opening Daily Highlight
Local
Wall Street Rebounds as Asia Closes Mixed
Tue, 17-Mar-2026 07:36 am
by Research Team • Apex Research

Malaysia Market Review: The FBM KLCI (-0.13%) closed marginally lower on Monday as cautious sentiment persisted, with investors monitoring ongoing geopolitical tensions in West Asia. Market breadth was negative, with 619 decliners outpacing 404 advancers. Sector-wise, Plantation (+0.87%) and Transportation & Logistics (+0.15%) led gains, while Property (-1.63%) and Energy (-1.02%) were the main laggards.

 

Global Markets. U.S. equities ended higher on Monday, with the Dow (+0.83%), S&P 500 (+1.01%) and Nasdaq (+1.22%) as markets assessed the potential impact of rising oil prices on the Federal Reserve’s rate trajectory while monitoring signs of easing supply disruptions in the Strait of Hormuz (Yahoo Finance). In Europe, the STOXX 600 (+0.44%) rebounded as oil prices eased, offering some relief to investors amid escalating Middle East tensions (Reuters). Meanwhile, Asian markets traded mixed. The Nikkei 225 (-0.13%) declined on rising stagflation concerns linked to the U.S.-Iran conflict, while the Hang Seng (+1.45%) and Shenzhen Composite (+0.19%) advanced after China’s consumption and production both beat expectations on holiday spending and strong foreign demand (CNBC).

 

Market Outlook. Global sentiment remains cautious as investors monitor developments in the Strait of Hormuz, with the Middle East conflict entering its third week. While several tankers have successfully transited the waterway, offering tentative signs of stabilisation, uncertainty persists as Iran’s attacks continue to deter international shipping, keeping Brent crude prices elevated above USD100/bbl and driving market volatility. Investor attention this week will also focus on U.S. President Donald Trump’s efforts to assemble an international coalition to secure the strait, alongside pressure on allies and China to support reopening efforts. At the same time, higher oil prices have intensified inflation concerns ahead of the Federal Reserve’s policy meeting, where rates are widely expected to remain unchanged but guidance on the rate outlook will be closely watched. Against this backdrop, the FBM KLCI is expected to trade cautiously with a slight downside bias, tracking mixed global market cues and persistent geopolitical uncertainties. 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)

Advancecon Holdings Bhd has appointed former inspector general of police (IGP) Tan Sri Razarudin Husain @ Abd Rasid as its new independent, non-executive chairman, with immediate effect. (The Edge)

 

Aneka Jaringan Holdings Bhd has bagged two letters of award with a combined value of RM95.65 million for works on the New Pantai Highway (NPE) extension project and a high-rise residential development in Seputeh. (The Edge)

 

Dialog Group Bhd's unit, Dialog Chemicals Sdn Bhd, and Diyou PCR Sdn Bhd are disposing of their respective 51% and 49% equity stakes in their joint venture (JV) to funds managed by circular economy investment management firm Circulate Capital. (The Edge)

 

Gagasan Nadi Cergas Bhd group managing director Datuk Wan Azman Wan Kamal has sold a 7.44% stake in the property and construction company, reducing his deemed interest in the company to 57.25% from 64.69%. (The Edge)

 

ITMAX System Bhd’s 65%-owned unit, Southmax Sdn Bhd, has secured a 15-year contract to operate a smart on-street parking system in Johor Bahru. (The Edge)

 

 Keyfield International Bhd has secured eight charter contracts for the provision of accommodation work boats (AWBs) and an anchor handling tug supply (AHTS) vessel, with a combined value of RM162 million. (The Edge)

 

Permodalan Nasional Bhd (PNB) has decided not to accept the voluntary takeover offer by Sunway Bhd for its 13.5% stake in IJM Corp Bhd, citing the offer’s valuation, small cash component, as well as IJM’s dividend prospects and long-term growth potential. (The Edge)

 

Pharmaniaga Bhd will be lifted from the Practice Note 17 (PN17) category effective Tuesday (March 17), ending its three-year stint as a financially distressed company. (The Edge)

 

SDS Group Bhd saw the Employees Provident Fund (EPF) cease to be its substantial shareholder after the pension fund's latest round of share disposals. (The Edge)

Sentiment: Neutral
Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.913293 3.944930
EUR 4.496285 4.501110
CNY 0.569247 0.569853
HKD 0.499949 0.503483
SGD 3.057006 3.078638