MONEY MASTER

Malaysian equities opened stronger, with the  FBM KLCI  climbing as much as  0.8% to 1,697 , driven by gains in banking and technology stocks. However,  falling oil prices dragged energy counters lower , highlighting sector divergence. Banks and Tech Lead the Market Market momentum was supported by: CIMB Group Holdings  rising  over 3% Malaysian Pacific Industries  surging  7% Renewed optimism in  AI and growth sectors , following strong global tech sentiment and the ripple effects from the  SpaceX-driven market excitement . Oil Drop Hits Energy Stocks Energy counters underperformed as oil prices declined after progress in US-Iran peace talks: Dialog Group  fell  over 5% Stocks rose because lower oil prices reduce inflation and Fed risks , but this simultaneously pressures  energy sector earnings . Macro Risks Cap Upside Despite the rebound, analysts see  limited upside  for the KLCI: Resistance expected around...

Chinese banking stocks outperformed the broader market on Friday after reports that regulators may  relax shareholder restrictions , potentially unlocking new capital inflows and boosting sector sentiment. Policy Shift Could Unlock Capital Raising China’s  National Financial Regulatory Administration  is reportedly considering allowing shareholders to  hold stakes of 5% or more in up to four banks , up from the current limit of two. Such a move would: Expand  capital-raising options for banks Encourage  private placements and equity issuance Broaden the  investor base across the sector Bank Stocks Show Relative Strength Despite weakness in the broader market: The  CSI300 Index fell 1% at open The  CSI Banks Index declined only 0.3% and later stabilised This highlights  defensive strength and investor interest  in bank stocks amid policy support expectations. Institutional Demand Could Increase Analysts see the potential rule change ...

European  equities  are  on  track  for  a  second  straight  weekly  decline ,  as  the  Iran  war  pushes  oil  above  US$100  and  revives  concerns  over  inflation,  growth  and  financial  stability. Stoxx 600  Falls  as  Oil  Surges The  Stoxx Europe 600   dropped 0.8%  in  early  London  trading,  extending  March  losses. With  oil  trading  above  US$100  per  barrel,  investors  are  reassessing  the  risks  of: Higher  inflation Slower  economic  growth Prolonged  geopolitical  instability Key  Point:  Rising  energy  costs  are  shifting  market  focus  from  rate  cuts  to  stagflation  risk. Mining  and  Banks...

Quick Summary (Feb 24, 2026) YZJ Shipbuilding (+2.59%) topped STI gainers UOB (-4.12%) was the biggest loser and most traded stock CapLand IntCom Trust led REIT gainers Lippo Malls Trust plunged 12.5% STI Movers & Shakers The  FTSE Singapore Straits Time Index (STI)  saw mixed performance, with industrials and telcos gaining while banks weighed on sentiment. Top Gainers Yangzijiang Shipbuilding Holdings Ltd  (BS6) : S$3.96 ( +2.59% ) CapitaLand Integrated Commercial Trust  (C38U) : S$2.52 ( +2.44% ) Singapore Telecommunications Ltd  (Z74) : S$5.12 ( +1.99% ) Wilmar International Ltd  (F34) : +1.98% Seatrium Ltd  (5E2) : +1.81% Key point:  Industrial and offshore-related counters showed resilience. Top Losers United Overseas Bank Ltd  (U11) : S$37.20 ( -4.12% ) ST Engineering Ltd  (S63) : -1.92% Jardine Matheson Holdings Ltd  (J36) : -1.66% OCBC Bank  (O39) : -1.20% Thai Beverage PCL  (Y92) : -1.05% Banks were under pre...

DBS Group  posted weaker-than-expected fourth-quarter earnings, underscoring the growing impact of lower interest rates on Singapore banks and flagging  continued profit headwinds into 2026 . The lender reported  4Q net profit of S$2.26 billion , down  10% year-on-year , missing analysts’ estimates of nearly  S$2.55 billion . The decline was driven mainly by a  sharp drop in net interest margin (NIM)  as domestic interest rates eased. DBS’  group NIM fell to 1.93% , from  2.15% a year earlier , dragging net interest income lower.  Return on equity slipped to 13.5% , compared with  15.8%  in the prior year. Looking ahead, CEO  Tan Su Shan  said  2026 net interest income and net profit are expected to come in slightly below 2025 levels , assuming: Singapore overnight rate (SORA) averages  ~1.25% Two US Federal Reserve rate cuts A  stronger Singapore dollar On asset quality,  loan-loss provisions jump...

Quick Summary FBM KLCI fell 1.46%  as heavyweights, especially banks and petrochemicals, weighed on sentiment YTL was the top gainer  in the KLCI, while  Petronas Chemicals (PCHEM)  led losses Mid-cap and REITs showed selective resilience , with BAUTO and IGBCR topping their respective segments Maybank remained the most actively traded stock , despite closing lower Market Snapshot FBM KLCI:  1,730.89 ( -1.46% ) FBM 70:  17,467.43 ( -0.55% ) FBM Small Cap:  16,084.33 ( -0.26% ) FBM EMAS:  12,691.50 ( -1.17% ) FBM KLCI Movers Top Gainer:   YTL  +0.95% to  RM2.120 Top Loser:   PCHEM  -5.41% to  RM3.150 Selling pressure was concentrated in  banking and petrochemical counters , pulling the benchmark lower despite mild gains in select defensive names. FBM 70 Movers Top Gainer:   BAUTO  +2.45% to  RM0.835 Top Loser:   ASTRO  -5.26% to  RM0.090 Mid-cap stocks were mixed, with  consumer ...

Hong Kong’s banking sector is poised for a  meaningful wealth-management windfall in 2026 , with fee income expected to surge well above market expectations, according to Bloomberg Intelligence (BI). Banks such as  HSBC Holdings PLC  and  BOC Hong Kong Holdings Ltd  could see  wealth fees grow by more than 20% this year , driven by stronger fund sales, brokerage activity and bancassurance demand. What’s Driving the Fee Surge Bloomberg Intelligence highlights several tailwinds supporting wealth fee growth: Improving global risk sentiment , underpinned by optimism around artificial intelligence investments Favourable market conditions  across equities, fixed income and precious metals Expectations of further US rate cuts , keeping risk appetite firm These factors are encouraging clients to deploy capital more actively, lifting transactional and advisory income for banks. China Flows & IPO Activity Add Momentum Wealth demand is also being supported by...

Malaysia’s equity market has crossed an important psychological and technical milestone. On  Jan 27 , the  FTSE Bursa Malaysia KLCI  broke above  1,750 , touching  1,771.25  intraday — its  highest level in more than seven years . The move was  decisive ,  broad-based , and supported by rising turnover, signalling more than just a thin technical bounce. At the same time, the  ringgit  has stabilised firmly in the  3.95–4.05 USD/MYR range , emerging as one of  Asia’s strongest currencies  entering 2026. The key question investors are now asking: Is this the start of a Malaysia equity supercycle — or simply a well-timed re-rating? What’s Really Driving the Rally? 1. Global Capital Rotation Is Real With the US Federal Reserve moving toward a more accommodative stance,  global capital is rotating out of crowded North Asian trades  (Japan, India) and into  ASEAN markets with valuation buffers . Malaysia stan...

CIMB Group Holdings Bhd  has achieved a major sustainability milestone after being upgraded to the  highest MSCI ESG rating of AAA , placing the bank among the world’s top performers in environmental, social and governance standards. The upgrade from AA reflects CIMB’s strong risk management practices, particularly in environmental risk assessment within its credit underwriting. The group also maintained a  high environmental score of 9.2 , underscoring disciplined oversight of climate-related and sustainability risks. Beyond MSCI, CIMB was ranked  No. 1 globally among financial institutions  in the  World Benchmarking Alliance ’s  2025 Financial System Benchmark , and placed  No. 2 worldwide for Inclusive Finance , recognising its role in expanding access to financial services and supporting a just economic transition. Group CEO  Novan Amirudin  said the recognition validates CIMB’s strategy of embedding sustainability directly into dai...

Key Takeaways Goldman Sachs plans to raise at least US$12bn via bond issuance Deal may include up to six tranches with maturities up to 21 years Strong Q4 trading revenue supports investor demand Issuance likely helps refinance 2026 debt maturities Other big banks (JPMorgan, Wells Fargo, Morgan Stanley) also issuing Wall Street bond supply expected to ramp up sharply this quarter Goldman Sachs Group Inc  is looking to raise  at least US$12 billion  through an investment-grade bond sale, signalling a renewed acceleration in bond issuance by Wall Street’s largest banks following strong fourth-quarter earnings, according to  Bloomberg . The planned offering may be split into  as many as six tranches , with maturities ranging from  three to 21 years . Initial pricing discussions indicate a  premium of about 1.05 percentage points over US Treasuries  for the longest-dated bonds. The move follows Goldman’s  record US$4.31 billion equities-trading r...

Singapore’s banking sector may still look attractive for  income-seeking investors , but  shrinking interest margins and rich valuations  are set to cap upside in 2026, according to RHB Securities. After delivering  double-digit total returns in 2025 , Singapore banks are entering a more challenging phase where  dividend strength remains, but growth momentum fades . The Big Picture RHB expects  more modest returns for Singapore banks in 2026 , despite a supportive macro backdrop. What supports the sector Stable macroeconomic environment Strong wealth management inflows Sound asset quality High dividend yields What holds it back Net interest margin (NIM) compression Elevated sector valuations Limited room for valuation re-rating without higher ROEs “In the absence of a meaningful rise in ROEs, headroom for further valuation expansion may be limited.” Dividend Yields Still Attractive (FY26F) Despite margin pressure, dividends remain a key draw: DBS :  6....