China’s steel market is not collapsing despite the property downturn. Instead, demand is stabilising at a lower level as manufacturing, exports and new energy sectors gradually replace construction-driven demand. This is not a demand collapse, it’s a structural shift from property to industrial and export-driven demand. What’s Really Happening The sharp drop in construction activity has clearly hurt steel demand: Property-related steel (like rebar) has fallen significantly Construction’s share of demand is shrinking But the broader market tells a different story: Total steel demand is only slightly below past peaks Manufacturing, shipbuilding and energy transition sectors are absorbing demand Exports are acting as a key buffer Instead of a sudden crash, the industry is entering a long plateau . Why This Matters The market had expected a sharp collapse but reality is more gradual: Demand is declining slowly, not falling off a cliff China is shifting from construction-led growth to ...
Market Summary (March 30, 2026)
Malaysia equities ended sharply lower, with broad-based selling across all indices:
- FBM KLCI: 1,687.90 (-1.45%)
- FBM Mid 70: -1.65%
- FBM Small Cap: -1.53%
- FBM ACE: -1.91%
Market breadth turned negative:
- Losers (956) significantly outnumbered gainers (371)
- Trading value jumped to RM4.85 billion, indicating strong selling activity
Key takeaway: Market sentiment turned risk-off, with heavy distribution across sectors.
Ringgit & Liquidity Snapshot
- USD/MYR: 4.0305
- SGD/MYR: 3.1250
Despite equity weakness, the ringgit remained relatively stable.
Top Gainers: Energy & Commodities Shine
Gainers were concentrated in plantation, commodities, and energy-related stocks:
- Kuala Lumpur Kepong (+6.76%)
- Press Metal Aluminium (+6.31%)
- Petronas Chemicals Group (+5.69%)
- SD Guthrie (+4.90%)
Commodity-linked stocks benefited from rising oil and resource prices.
Top Losers: Broad Selloff Hits Key Names
Decliners were widespread across sectors:
- Gamuda (-6.02%)
- Sunway (-4.94%)
- Axiata Group (-3.98%)
- Telekom Malaysia (-3.95%)
Construction, telecom, and conglomerates led the downside.
Most Active Stocks: Retail & Mid Caps in Focus
- Sunway Healthcare – highest volume
- Top Glove
- Zetrix AI
- Capital A
Active trading shows continued retail participation despite market weakness.
What This Means for Investors
- Broad selloff signals risk-off sentiment amid global uncertainties
- Energy & commodities remain defensive plays
- High volume + declining prices = institutional selling pressure
- Small & mid caps continue to see active trading, but volatility remains high
Quick Summary
- KLCI fell 1.45% with heavy selling pressure
- Losers far outnumber gainers (956 vs 371)
- Energy & plantation stocks outperformed
- Construction and telecom stocks dragged the market
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