A Fragile Rebound: FBM KLCI Climbs With Technology, Finance Gaining

The FBM KLCI (+0.85%) rebounded on Tuesday after two consecutive sessions of losses, closing higher at 1,710. Bargain-hunting in blue-chip heavyweights, particularly banking counters, provided the lift, aligning with upbeat regional market sentiment.

Technology and Finance

Despite the rebound, market breadth remained negative, with 710 advancers outpacing 403 decliners, underscoring the fragile nature of the recovery. Sector-wise, Industrial Products (+1.96%), Technology (+1.36%) and Finance (+1.11%) led gains, while Healthcare (-0.60%) was the sole laggard.

Retail sales

Globally, U.S. equities extended their rebound from a four-week sell-off, with the Dow (+0.10%), S&P 500 (+0.25%) and Nasdaq (+0.47%) closing higher. Gains came despite lingering concerns over President Donald Trump’s tariff policy rollout and weakening consumer confidence.

February retail sales rose 0.2% m-o-m, below expectations, signaling softer spending momentum though underlying resilience remained. In Europe, the STOXX 600 advanced +0.67% on broad-based buying, even as oil prices surged above USD100/bbl on renewed supply concerns. Asian markets closed mixed, with early optimism from U.S. AI-related stocks fading into the close.

Global equities

Looking ahead, global equities are expected to remain volatile, balancing moderating growth and geopolitical risks. The FBM KLCI is likely to trade range-bound with a slight positive bias, supported by firmer oil prices and rotational interest in defensives.

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