Malaysian Market Review: The FBMKLCI edged up 0.10% on Friday as gains were capped by cautious sentiment over Middle East tensions. Market breadth was negative, with 438 advancers against 582 decliners. Sector-wise, Healthcare (+1.41%), Construction (+0.95%) and Property (+0.62%) led gains, while Telecommunications & Media (-1.14%), Energy (-0.99%) and Technology (-0.94%) were the main laggards.
Global Markets. US stocks declined sharply on Friday as surging oil prices triggered a broad selloff—pushing the Dow (-1.73%) and Nasdaq (-2.15%) deeper into correction territory, dragging the S&P 500 (-1.67%) into its longest losing streak since 2022 (Yahoo Finance). In Europe, the STOXX Europe 600 fell 0.95%, extending its losses, as US President Donald Trump prolonged the pause on attacks targeting Iran’s energy infrastructure. Asian markets were mixed. Japan’s Nikkei 225 (- 0.43%) eased on losses in the Paper & Pulp, Transport and Communication sectors (Investing.com), while Hong Kong’s Hang Seng (+0.38%) rose on strength in Chinese pharmaceutical names and selected electric vehicle plays (BusinessToday Malaysia), while China’s Shanghai Composite (+0.63%) gained, supported by a 15.2% YoY increase in industrial profits for the January–February period (CNBC).
Market Outlook. Global sentiment remains fragile as Brent crude climbed to USD115.42 per barrel amid escalating Middle East tensions. Uncertainty persists despite U.S. President Donald Trump granting Iran a 10-day extension, until April 6, to comply with U.S. demands or face potential strikes on its power plants, signalling a possible—but still uncertain—path toward deescalation. Elevated oil prices, coupled with a firmer U.S. dollar amid expectations of a more hawkish Federal Reserve, have pressured regional currencies and risk appetite. Against this backdrop, the ringgit’s weakness beyond the 4.00 level and continued foreign outflows are likely to cap upside for Malaysian equities, although higher crude prices may lend some support to energy-related names.
Sector focus. We favour the energy sector amid Middle East tensions, with upstream oil & gas benefiting from higher crude prices, supporting near-term earnings. Plantations may see indirect support from firmer biofuel demand, while defensive utilities remain attractive as investors seek stability amid heightened volatility.
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 1,695–1,700 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)
Hubline Bhd has formed a joint venture, PSB Hubline Sdn Bhd, to transport methanol and other chemical products in Sarawak. (The Edge)
iCents Group Holdings Bhd has secured a RM14.1 million contract to supply a data centre system for a data centre project in Indonesia. (The Edge)
Insights Analytics Bhd is being sued by Place2Stay Management Sdn Bhd over non-payment of a balance purchase price of RM8.48 million in a software source code deal. (The Edge)
K Seng Seng Corp Bhd has appointed Wong Pak Yii as its new chief executive officer, effective immediately. (The Edge)
KPS Consortium Bhd has secured a RM106.96 million contract to build a 35-storey residential project in Cheras, Kuala Lumpur. (The Edge)
Malaysia Smelting Corp Bhd has invested RM10 million to build a new rotary furnace at Rahman Hydraulic Tin (RHT) in Klian Intan, Perak. (The Edge)
Meta Bright Group Bhd has proposed acquiring a controlling stake in four engineering, procurement, construction and commissioning (EPCC) companies, with the purchase consideration to be negotiated and agreed upon later. (The Edge)
NexG Bhd has appointed its largest shareholder Datuk Ishak Ismail as executive chairman, with co-founder Datuk Abu Hanifah Noordin redesignated as deputy executive chairman while retaining his role as group CEO. (The Edge)
Southern Steel Bhd has proposed a buyout of Ann Joo Resources Bhd’s upstream steel unit to strengthen its position in steel manufacturing. (The Edge)
SNS Network Technology Bhd saw its 4QFY2026 net profit drop by half to RM5.07 million from RM10.02 million a year ago, despite revenue rising 52.5% to RM383.54 million. (The Edge)
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| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.016085 | 4.043244 |
| EUR | 4.629771 | 4.633392 |
| CNY | 0.582367 | 0.582825 |
| HKD | 0.512520 | 0.516114 |
| SGD | 3.113561 | 3.134881 |