MONEY MASTER

Key Takeaways FBM KLCI rose 0.3% to 1,661.83 , recovering modestly despite broad-based weakness across the broader market. Financials, telecommunications and selected blue chips  supported the benchmark, while technology stocks faced profit-taking. Market breadth remained negative , with  642 decliners versus 425 gainers , suggesting investor sentiment stayed cautious. Technology counters including ViTrox, Kelington and UMS  were among the biggest value losers despite strong year-to-date gains. The ringgit strengthened further against the US dollar , providing support to Malaysia's macro outlook. Market Overview Bursa Malaysia ended Thursday on a firmer note, with the  FBM KLCI gaining 0.3% to 1,661.83 , as buying in heavyweight financial, telecommunications and plantation stocks offset weakness in the technology sector. Despite the benchmark's advance, overall market participation remained cautious. Declining stocks significantly outnumbered gainers, indicating inve...

Singapore’s economy delivered a strong upside surprise in 1Q2026, supported by  robust AI-driven demand , even as authorities flagged  rising risks from Middle East tensions and global trade uncertainty . GDP Growth Exceeds Forecasts Singapore’s economy expanded: +6.0% YoY in 1Q2026  (vs 5.7% in 4Q2025) Above forecasts of  ~5.2% (Bloomberg)  and  4.6% (Reuters) On a quarter-on-quarter basis: +1.0% QoQ , beating expectations of a contraction This reflects  strong underlying economic momentum , particularly in tech-related sectors. AI Demand Drives Key Sectors Growth was largely supported by  AI-related investments , boosting: Electronics and precision engineering Machinery and equipment trade Wholesale trade segment ( +11.7% YoY ) The government expects  AI semiconductor demand to remain strong , anchoring industrial growth. Sector Performance Mixed Key sector highlights: Manufacturing : +7.9% (slower vs 11.4% previously) Construction : +11.8%...

South Korea’s stock market rally could gain fresh momentum as  US retail investors get direct access , opening the door for new capital inflows into one of the world’s top-performing markets. Korea Market Attracts Global Attention South Korean equities have become one of the hottest trades globally: Kospi Index up over 75% in 2026 Now among the  world’s best-performing major markets Recently became the  7th largest stock market globally This surge has been driven largely by  AI-related demand and strong industrial sectors . New Catalyst: US Retail Money Interactive Brokers  is enabling direct trading access to Korean stocks for global clients. This means: US investors can now  buy Korean stocks directly No need to rely on  ETFs or ADRs Faster access with  real-time execution Key Impact: More liquidity and stronger inflows into Korean equities AI and Chip Stocks Lead the Rally The market’s strength is heavily supported by tech giants: Samsung Elect...

Dubai’s rise as a global hub for the ultra-wealthy is now being tested, as  geopolitical tensions in the Middle East threaten to disrupt capital flows, property demand, and investor confidence . Luxury Boom Built on Global Wealth Inflows In recent years, Dubai has seen a surge in  high-net-worth individuals (HNWIs)  relocating to the city, driving: Sharp increases in luxury property prices Growth in  tax revenues and financial activity Expansion into  private credit, tech, and global investments The broader Gulf region has leveraged its  oil wealth  to become a key player in global capital markets, with Dubai acting as a central hub. Iran War Introduces New Risk Layer The ongoing conflict has introduced a  direct geopolitical threat  to the region’s stability. Recent developments include: Drone strikes targeting residential areas in Dubai and Abu Dhabi Attacks on  energy infrastructure across the Gulf These events raise concerns over: Sa...

Rakuten  Trade  expects  foreign  investors  to  return  to  Malaysian  equities  as  the  ringgit  strengthens  amid  prolonged  Middle  East  tensions  and  elevated  oil  prices. Foreign  Holdings  Stable  Despite  Outflows According  to  Rakuten,  foreign  shareholding  on  Bursa  Malaysia  has  remained  relatively  steady  despite  earlier  outflows —  suggesting: Long- term  investors  have  largely  held  positions Short- term  traders  drove  recent  selling Key  Point:  Foreign  ownership  hasn’t  meaningfully  collapsed,  indicating  underlying  confidence  in  Malaysian  assets. Year- to- date,  foreign  funds  recorded  net  inflows  of...

Prolonged Middle East tensions and volatile oil markets could turn into a tailwind for  Gas Malaysia , according to UOB Kay Hian. The research house says sustained higher natural gas prices would directly lift the company’s profitability — making it one of the clearer beneficiaries of the current energy shock. Key Takeaways Gas Malaysia derives about 40% of net profit from gas sales Every 1% change in gas prices can swing net profit by 4% LNG prices in Asia have surged 46% in the past week Earnings upside if elevated oil prices persist beyond six months Tenaga Nasional impact seen as marginal Why Gas Malaysia Stands to Gain Gas Malaysia Bhd  supplies natural gas to over 1,000 industrial customers, with about 40% of its net profit tied directly to gas sales. According to UOB Kay Hian: Every 1% change in natural gas prices can shift net profit by 4% If elevated oil prices persist beyond six months, earnings could improve meaningfully Asian LNG prices have surged 46% in just one ...

Airline shares across Asia tumbled after US and Israeli strikes on Iran disrupted Middle East airspace and triggered a sharp spike in oil prices. Carriers including  Cathay Pacific Airways Ltd ,  Qantas Airways Ltd ,  Singapore Airlines Ltd  and  Japan Airlines Co Ltd fell more than 5% in early trading. Oil prices surged about 7%, compounding pressure on the sector. What’s Happening Key developments: Key hubs including Dubai and Doha closed for a third day Thousands of flights disrupted Tanker damage reported in the Middle East Brent crude climbed to multi-month highs According to VariFlight data, mainland Chinese airlines cancelled 26.5% of flights to and from the Middle East for March 2–8. Share Price Reaction Qantas fell as much as 10.4% at open ANA Holdings Inc  dropped over 4% Air China Ltd ,  China Southern Airlines Co Ltd  and  China Eastern Airlines Corp Ltd  each slid at least 4% AirAsia X Bhd  also declined Even carriers n...

Quick Summary PCHEM shares fell over 6% , extending 2026 losses to more than 14% Analysts cut forecasts after another  deeper-than-expected quarterly loss Industry faces  persistent oversupply and weak demand , especially from China Majority of research houses now recommend  ‘Sell’ Stock Extends Downtrend Shares of  PETRONAS Chemicals Group Bhd  dropped to  RM3.09 (-6%) , reflecting mounting concerns over prolonged sector weakness. Market cap:  ~RM25 billion YTD decline (2026): -14% More than  9 million shares traded  by midday The latest quarterly results sank  deeper into the red than expected , prompting analysts to downgrade outlooks. Why the Pressure Continues The petrochemical sector remains stuck in a  structural downcycle  driven by: Persistent global oversupply Weak downstream demand Aggressive capacity expansion in China According to  Maybank Investment Bank , additional plants coming online in China will continu...

US tariff uncertainty will likely remain a  key market overhang , even after the  Supreme Court of the United States struck down tariffs imposed under the IEEPA, according to Malaysian research houses. The reason? President  Donald Trump  has already reintroduced global tariffs under a different legal channel. What Changed — And What Didn’t After the court ruled against tariffs imposed under the  International Emergency Economic Powers Act (IEEPA) , Trump announced: 10% global tariffs Plan to raise them to  15%  under  Section 122 of the 1974 Trade Act Valid for  150 days , unless Congress approves an extension Key issue: Although legally different,  protectionism remains intact . Public Investment Bank noted Trump is unlikely to retreat, as tariffs are central to his foreign policy strategy. Kenanga Investment Bank added: New tariffs are capped at 15% But US officials suggest tariff revenue levels will remain broadly unchanged Meaning m...

Malaysia’s strengthening ringgit — up  more than 10% against the US dollar in 2025  — is increasingly squeezing earnings for export-heavy glove makers, just as the industry struggles with excess capacity and weak pricing power. While a firm ringgit reduces macro risk and improves foreign investor confidence, it  directly compresses margins  for companies whose revenues are overwhelmingly USD-denominated. What’s Happening on the Ground Over  90% of glove sales are priced in US dollars A stronger ringgit means  lower translated revenue in MYR Weak demand recovery forces producers to  sacrifice pricing to defend volume At  Top Glove , Q1 sales volume grew 17% YoY — but  average selling prices fell 11% , largely due to FX effects. Peers such as  Hartalega  and  Supermax  have also reported earnings pressure or widening losses. Why Glove Makers Are More Exposed Than Other Exporters Unlike palm oil or large tech exporters, glove...

Quick Summary Singapore Airlines Ltd  has launched a  10-year Singapore dollar senior note  offering with initial price guidance of  around 2.95% , marking another move by high-grade corporates to lock in long-term funding amid still-favourable market conditions. Deal Snapshot Tenor:  10 years Yield guidance:   ~2.95% Maturity:   Jan 30, 2036 Coupon:  Paid  semi-annually First coupon:   July 30, 2026 Structure:   Senior, unsecured, unsubordinated Programme:  S$10 billion multi-currency MTN programme Use of Proceeds Funds raised will be used for: Aircraft purchases and related payments General corporate and working capital needs Refinancing existing borrowings Why It Matters 2.95% for a 10-year SGD note highlights strong investor demand  for high-quality credits Reflects  confidence in SIA’s balance sheet and recovery trajectory Signals continued depth and liquidity in the  Singapore dollar bond market Bookrunners...