Malaysia Market Review: The FBM KLCI rose 1.10% on Wednesday, tracking overnight gains from Wall Street and supported by the strong debut of Sunway Healthcare Holdings Bhd. Market breadth was positive, with 678 advancers outpacing 460 decliners. Sector-wise, Utilities (+1.47%) and Technology (+1.37%) led gains, while Energy (-0.79%) and Transportation & Logistics (-0.05%) were the main laggards.
Global Markets. U.S. equities closed lower on Wednesday, with the Dow (-1.63%), S&P 500 (-1.36%) and Nasdaq (-1.46%) retreating after the Federal Reserve held interest rates steady, while Chair Jerome Powell flagged that inflation is easing more slowly than expected. The decision was split, with the benchmark rate maintained at 3.5%–3.75% (CNBC). In Europe, the STOXX 600 declined -0.75% as an attack on Iran’s Pars gas field drove oil prices higher and renewed concerns over escalating Middle East tensions, reversing the relative calm seen earlier in the week (Reuters). Meanwhile, Asian markets closed higher, with the Nikkei 225 (+2.87%), Hang Seng (+0.61%) and Shenzhen Composite (+0.32%) advancing on a rebound in U.S. technology stocks and stabilising oil prices (NST Malaysia, South China Morning Post).
Market Outlook. Global markets are navigating a more complex Fed outlook as policymakers balance softer labour market conditions against persistent inflation risks. Chair Jerome Powell noted that higher oil prices linked to the Iran conflict could weigh on growth while lifting near term inflation, adding uncertainty to the timing of rate cuts. While inflation is still expected to moderate, the pace remains uneven, keeping Wall Street performance volatile. For Malaysia, firmer oil prices could support energy related names, while broader sentiment remains tied to global developments and rate expectations. Market sentiment is expected to stay cautious ahead of the 20 March Triple Witching and the Hari Raya holiday period, with additional pressure from weaker overnight performance on Wall Street
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)
Aquawalk Group Bhd said it plans to develop a new oceanarium in Kota Kinabalu at an estimated cost of RM70.5 million. Its wholly-owned subsidiary Aquawalk KK Sdn Bhd has signed a 30-year lease for 73,054 sq ft of premises within The Bedrock at Jesselton Docklands for the new oceanarium, to be named 'Aquaria KK'. (The Edge)
Binastra Corporation Bhd has been appointed to complete the construction of Subang Sentral for RM316 million and revive the long-stalled project in Subang Jaya. (The Edge)
Bintai Kinden Corp Bhd has secured two construction subcontracts worth an aggregate RM25.67 million for work at an industrial park in Kulai, Johor. (The Edge)
Citaglobal Bhd's wholly-owned subsidiary, Citaglobal New Energy Sdn Bhd, has executed a framework agreement with Malaysia Rail Link Sdn Bhd (MRL) for energy advisory services and green energy development along the East Coast Rail Link (ECRL). (The Edge)
Crest Builder Holdings Bhd has secured two construction contracts worth a combined RM513 million, lifting its outstanding order book to a record RM2 billion. (The Edge)
Gas Malaysia Bhd has secured regulatory approval to advance its proposed liquefied natural gas regasification terminal in Yan, Kedah, marking a significant step forward for the project that is estimated to cost RM2 billion to RM3 billion. (The Edge)
GDB Holdings Bhd said it has been appointed as a subcontractor to undertake the construction of a new water treatment plant in Sarawak for RM115.52 million. (The Edge)
JAKS Resources Bhd’s wholly-owned subsidiary, JAKS Sdn Bhd, has secured a RM37.87 million subcontract for a water supply project in Kapit, Sarawak. (The Edge)
Johor state government’s investment arm, Johor Corp (JCorp), has trimmed its stake in its plantation arm, Johor Plantations Group Bhd. Its unit, Kulim (M) Bhd, disposed of 125 million shares, equivalent to a 5% stake, on Tuesday (March 17), trimming its stake to 1.49 billion shares or 59.457%. (The Edge)
Kenanga Yield Enhancement Fund has ceased to be a substantial shareholder of Omesti Bhd after the disposal of an 8.7% stake in the ICT firm. (The Edge)
NexG Bhd declared that the massive fair value losses from share investments that recently dragged the company into the red are now a "closed" matter, following a boardroom exodus that saw the departure of seven directors from the company after a brief power tussle. (The Edge)
Paramount Corp Bhd is acquiring a 3.7-acre freehold commercial land along Jalan Ampang from IOI Properties Group Bhd for RM257.9 million, which it plans to develop into two blocks of high-end serviced apartments with an estimated gross development value of RM1.1 billion. (The Edge)
Pos Malaysia Bhd will introduce fuel surcharges on domestic and international shipments to offset higher air transport costs due to Middle East tensions. (The Edge)
Scientex Packaging (Ayer Keroh) Bhd's shares will be removed from the official list of Bursa Malaysia Securities Bhd at 9am on March 25, following the group’s plan for privatisation. (The Edge)
Solarvest Holdings Bhd said it has secured an engineering, procurement, construction and commissioning contract worth RM89.5 million for the development of a solar photovoltaic plant in Perlis. (The Edge)
Top Glove Corporation Bhd's net profit for the second quarter ended Feb 28, 2026 rose 1.5% year-on-year to RM30.76 million, as cost control and higher plant utilisation offset drags from weaker export receipts. (The Edge)
Wentel Engineering Holdings Bhd has proposed to acquire two medium industrial semi-detached factory units in Johor for RM29.58 million in a related-party transaction. (The Edge)
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.
| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 3.904824 | 3.932412 |
| EUR | 4.518520 | 4.523835 |
| CNY | 0.569767 | 0.570393 |
| HKD | 0.498103 | 0.501644 |
| SGD | 3.058844 | 3.080621 |