The FBM KLCI continued its upward momentum on 12 March 2026, buoyed by strong foreign buying in blue-chip counters. This resilience came despite crude oil price volatility, with Brent crude fluctuating between USD87 and USD92 per barrel. Market sentiment remains constructive, with the benchmark index expected to trade within the 1,700–1,715 range today.
Oil Volatility
On the investment front, OGX (0395) debuted as an IPO pick, with a BUY call and fair value of RM0.48, premised on 13x PER over FY27F EPS, reflecting a discount to industry peers due to its smaller market cap.
Technically, MNHLDG (0245) shows resistance at RM1.73 and RM1.82, while support lies at RM1.55 and RM1.48. In Hong Kong, China Resources Power Holdings (836) offers a BUY opportunity, with 9.1% upside potential, 5.4% dividend yield, and positive technical indicators.
Leave a Reply
You must be logged in to post a comment.