Malaysia Morning Wrap | FBM KLCI Extends Losses to Fourth Straight Session; MITI Minister to Discuss Trade Deal and Tariffs with US

Key Takeaways:

• Dow, S&P 500, Nasdaq falls as CoreWeave, Nvidia lead tech sell-off

• FBM KLCI extends losses to fourth straight session on Friday

• MITI Minister to discuss trade deal and tariffs with US

• Stocks to watch: Tenaga Nasional, Sunway, etc.

🇺🇸Wall Street Summary

The $Dow Jones Industrial Average (.DJI.US)$ declined by 521.28 points, or 1.1%, closing at 48,977.92. Meanwhile, the $Nasdaq Composite Index (.IXIC.US)$ dropped 210.17 points, a 0.9% decrease, to settle at 22,668.21. The $S&P 500 Index (.SPX.US)$ also fell, losing 29.98 points (0.4%) to end at 6,878.88.

The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all declined on Friday, pressured by losses in $CoreWeave (CRWV.US)$, $NVIDIA (NVDA.US)$, and other major technology companies. Simultaneously, financial stocks such as American Express and Goldman Sachs tumbled amid renewed concerns regarding the sector's exposure to vulnerable private-credit lenders.

🇲🇾Bursa Market Insight

$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ 1716.61(-1.40%)

Top Gainer: $SIME (4197.MY)$ RM2.44(+2.09%)

Top Loser: $PMETAL (8869.MY)$ RM7.75(-6.18%)

USD/MYR: $USD/MYR (USDMYR.FX)$ RM3.915(+0.62%)

Malaysia's benchmark stock index declined for the fourth consecutive session on Friday, with ongoing selling pressure and cautious sentiment curbing investor interest. The FBM KLCI dropped 24.33 points, or 1.4%, marking its sharpest decline since January 29, 2026, when it lost 1.46%. The index closed at 1,716.61 after fluctuating between an intraday high of 1,737.06 and a low of 1,714.09.

Economy Minister Akmal Nasrullah Mohd Nasir stated that the government will assess the economic implications for Malaysia following the recent attacks on Iran by the US and Israel. He noted that from an economic perspective, several key areas require examination, including Malaysia's direct ties with Iran and the broader impact of geopolitical tensions on the global economy.

Minister of Investment, Trade and Industry Datuk Seri Johari Abdul Ghani is set to engage with his United States counterpart regarding the impact of the US Supreme Court's ruling on the Agreement of Reciprocal Trade (ART) and the recent tariffs imposed by US President Donald Trump.

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🔔 Stocks to Watch

$TENAGA (5347.MY)$ has elevated Datuk Shamsul Ahmad from chief regulatory and stakeholder management officer to president and CEO, with the change taking effect from March 1.

$SUNWAY (5211.MY)$ founder Tan Sri Dr Jeffrey Cheah said the company will withdraw its bid for $IJM (3336.MY)$ if shareholders do not accept the offer by the early April deadline.

$CIMB (1023.MY)$ 4QFY2025 net profit rose 6.6% y-o-y to RM1.92 billion, driven by lower provisions and higher interest income. Net interest income was slightly higher at RM3.88 million, with non-interest income also increasing marginally to RM1.54 billion.

$HLBANK (5819.MY)$ 2QFY2026 net profit was nearly flat y-o-y at RM1.17 billion. Gains from net interest income and cost efficiencies were offset by higher loan impairment charges and lower earnings from an associate.

$IHH (5225.MY)$ posted a 27.9% year-on-year decline in net profit for the fourth quarter ended Dec 31, 2025 (4QFY2025), to RM528 million, primarily attributed to foreign exchange paper losses arising from a stronger ringgit. However, quarterly revenue increased by 20% y-o-y to RM6.8 billion.

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Source: Dow Jones Newswires, Bursa Malaysia, The Malaysian Reserve, The Star, The Edge.

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