*AmEquities* – 4 Mar 2026
Retail Research
*AmBreakfast Note*
*FBM KLCI* rose 0.69% to close at 1,711.21. We maintained the support level at *1,690* and the resistance level at *1,800*. Trading volume decreased to 3.32bil (3.90bil previously), while trading value was RM3.68bil (RM3.91bil previously). Market breadth remained negative (564 gainers vs 608 losers). Sectors were closed mostly positive led by increases in Energy (+3.08), Financial Services (+0.84%) and Industrial (0.48%) while offset by declines in Construction (-0.3%), Plantation (-0.2%) and marginal losses in Property (-0.02%).
*Asian equities* closed lower, led by Kospi, Nikkei 225, and Shanghai Composite, as the Iran conflict entering its fourth day compounded by Iran's Revolutionary Guard closing the Strait of Hormuz, crushed risk sentiment across the region. The waterway, through which over 14 million barrels per day transited last year, being shut off drove oil prices sharply higher, while South Korean heavyweights Samsung Electronics and SK Hynix fell nearly 10% and 12%, respectively, after a report revealed Samsung's mass production ramp at its Taylor, Texas plant had been pushed back to 2027. South Korea's Kospi bore the brunt of the selloff, plunging 7.24%, its worst session in 19 months though domestic defence names offered a counterpoint, with some stocks surging over 20% on the conflict escalation. *European equities* closed all lower,as the intensifying conflict between the U. S. and Iran weighed heavily on global investor sentiment. Broad-based selling pressure hit across the board, with notable declines in utilities, banking, and travel stocks due to widespread Middle East airspace closures, overshadowing an uptick in euro zone flash inflation to 1.9%.
*U. S. markets* finished all lower, as rising oil prices tied to the U. S.-Iran war fueled concerns over the economy and future monetary policy decisions. All 11 market sectors ended in negative territory, pressured by steep declines in materials and industrials, while crude futures advanced after the U. S. pledged risk insurance to protect maritime trade in the Persian Gulf from Iranian threats. The major averages managed to pare significantly steeper intraday losses, underscored by the Dow, which ultimately closed down 0.8% after plunging more than 1,200 points earlier in the session.
*Today’s Report(s) / Note(s)*
VSTECS (BUY, TP: RM6.40) Not a flash in the pan
STRATEGY (NEUTRAL) On thin ice
*Stock on Radar*: RHB BANK
*Malaysia*
KLCI: 1,712.0 (+11.74, +0.7%)
FBM Small Cap: 15,668.2 (+0.4%)
*Global Markets*
Dow: 48,501.3 (-403.5, -0.8%)
S&P 500: 6,816.6 (-0.9%)
NASDAQ: 22,516.7 (-1.0%)
Europe STOXX 600: 604.5 (-3.1%)
Hang Seng: 25,768.1 (-1.1%)
Nikkei 225: 56,279.0 (-3.1%)
Straits Times: 4,916.7 (+0.5%)
Brent Crude Oil: 82.0 (+5.0%)
FCPO: 4,186.0 (+0.9%)
USD/MYR: 3.9430 (+0.9%)
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