MONEY MASTER

Malaysian energy stocks are hitting their peak, but the real shift is happening beneath the surface. Key Points Energy earnings likely peak in 2Q2026 Oil stabilising around  ~US$80/barrel Geopolitical risk premium is fading  after US-Iran deal Earnings to  gradually ease from July onwards Sector remains  overweight , but momentum is slowing The oil story is no longer about war risk, it’s about how quickly supply returns and whether demand is strong enough to keep prices near US$80. From War Rally to Normalisation The past few months were driven by: Supply disruptions Shipping constraints Risk premium from Middle East tensions Now, that narrative is shifting: Supply is  gradually returning Production is  coming back online Logistics are  normalising The energy sector is transitioning from a geopolitical-driven rally to a normalisation phase Why Oil Won’t Crash (Yet) Even with peace developments: Infrastructure repairs take time Tanker flows recover grad...

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...

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 H...

Singapore equities showed  mixed performance  on March 30, with  energy-linked and defensive names outperforming , while broader sentiment remained cautious amid global macro uncertainty. STI Movers: Energy and Industrials Outperform The  FTSE Singapore Straits Times Index  saw selective buying, led by: Sembcorp Industries   (+2.77%)  – Top gainer, supported by  energy price tailwinds UOL Group   (+2.08%) Wilmar International   (+1.58%) Mapletree PanAsia Commercial Trust   (+1.53%) Seatrium   (+1.28%) On the downside: Thai Beverage   (-1.15%)  led decliners Yangzijiang Shipbuilding   (-1.04%) Dairy Farm International   (-0.92%) REITs: Volatility Continues Despite Select Bargain Hunting The S-REIT space remained volatile amid  rising yields and macro pressure : Top gainers: Prime US REIT   (+2.96%) KORE REIT   (+2.30%) Alpha Integrated REIT   (+2.17%) Top losers: IREIT Global   (-10.4...

Oil prices extended their rally, climbing to the  highest levels since 2022 , as escalating geopolitical tensions and a  US ultimatum over the Strait of Hormuz  heightened fears of a prolonged global energy disruption. Oil Prices Spike Amid Escalation Risk Global benchmark oil surged: Brent crude rose above US$113 per barrel , marking a  fifth consecutive day of gains WTI crude approached US$100 per barrel Since the conflict began in late February,  Brent has rallied over 50% , reflecting severe concerns over  energy supply disruptions . Strait of Hormuz Crisis at the Core The latest surge follows a  48-hour ultimatum by US President Donald Trump , demanding Iran reopen the  Strait of Hormuz , a critical route for  ~20% of global oil supply . Iran has responded with threats to: Fully close the waterway Target  energy, infrastructure, and regional assets With maritime traffic largely halted, oil producers in the Gulf are being forced to...

US equities declined sharply as  surging oil prices and persistent inflation concerns  weighed on investor sentiment, following the Federal Reserve’s decision to  hold interest rates steady . Major Indices Fall Amid Inflation Fears Wall Street closed lower across the board: Dow Jones Industrial Average  fell  1.6% S&P 500 Index  dropped  1.4% Nasdaq Composite Index  declined  1.5% The selloff was driven by a combination of  rising energy prices and a hawkish Fed outlook , which reinforced expectations of  higher-for-longer interest rates . Oil Surge Fuels Market Volatility Energy markets spiked following renewed attacks on  Middle East oil infrastructure . Brent crude  jumped  5.4% to US$108.96 WTI crude  rose  1.8% to US$97.98 Higher oil prices are raising concerns about  inflation persistence , particularly as supply disruptions threaten global energy flows. Fed Signals Prolonged Inflation Risks T...

The  surge  in  oil  prices  triggered  by  the  US- Israel  war  with  Iran  may  not  fade  quickly —  even  after  the  fighting  stops.  Damage  to  global  supply  chains  and  energy  infrastructure  could  keep  gasoline  prices  elevated  across  America  for  months. Oil  Near $100  Means  Higher  Gasoline  Costs Crude oil   has  hovered  near  US$100  per  barrel ,  pushing  US  gasoline  prices  sharply  higher. A  common  rule  of  thumb: Every  US$10  rise  in  oil Adds  roughly  20  cents  per  gallon   to  US  gas  prices Higher  gasoline  prices  ripple  through  the  broader  economy: Tr...

The European Central Bank may need to raise interest rates sooner than markets expect as the Iran war pushes energy prices higher and revives inflation risks, according to Governing Council member Peter Kazimir. While no move is expected at next week’s meeting,  upside inflation risks are now dominating the outlook , potentially bringing a rate hike closer than anticipated. Key Takeaways ECB hike could come sooner if energy shock persists Traders price ~40% chance of a quarter-point hike by June Further rate cuts now “off the table” Inflation risks seen shifting clearly to the upside Policymakers prepared to act without waiting for new forecasts Inflation Risks Back on the Radar The Iran conflict has triggered sharp swings in oil prices, raising concerns that: Businesses may pass through higher energy costs faster Workers may demand higher wages Inflation expectations could become unanchored According to Kazimir, the memory of the 2022 inflation shock — when euro-zone inflation exc...

South Korean equities were hammered again as escalating Iran war risks and oil prices above US$100 triggered aggressive foreign selling and fresh inflation fears. Key Takeaways Kospi plunged nearly 8% Monday after 11% drop last week Samsung and SK Hynix fell over 9% each Foreign investors dumped over 1 trillion won in one morning Oil above US$100 raises inflation and tightening risks Margin debt surge increases liquidation risk Korea Leads Asia’s Selloff KOSPI  dropped nearly 8%, extending last week’s 11% slide. Tech heavyweights were hit hardest: Samsung Electronics Co  -9%+ SK Hynix Inc  -9%+ Key Point: Korea’s AI-driven rally made it especially vulnerable to a sharp unwind. The Kospi is still up more than 20% year-to-date, but heavy positioning and leveraged bets have amplified the downside move. Oil Above US$100 Triggers Inflation Fear Crude Oil  has surged past US$100 per barrel. South Korea, a net energy importer, is highly exposed to higher fuel costs via: Man...

Shares of  PETRONAS Chemicals Group Bhd  jumped to a four-month peak as analysts say the Middle East crisis is handing the company a rare cost advantage over global peers. CGS International upgraded the stock to  “add”  (from “reduce”) and lifted its FY2026 earnings forecast to  RM143 million , reversing a prior projected loss of RM667 million. Target price: RM4.45 — implying over 20% upside. Key Takeaways PetChem benefits from domestic gas feedstock supply Brent up 17%, naphtha up 26%, LNG up 50% amid Hormuz shutdown Naphtha-based plants globally face production cuts Analysts see earnings turnaround in FY2026 Why PetChem Is a Winner The key advantage:  PetChem sources its gas feedstocks domestically , avoiding reliance on Middle Eastern supply. This shields its: Kertih Olefins & Derivatives (O&D) complex Fertilisers & Methanol (F&M) division Unlike naphtha-based producers, PetChem benefits from: Fixed, low long-term ethane pricing Methane c...