RHB
Wealth Family Business Life Markets Live
Quarterly Market Outlook
Global equities endured a volatile first quarter (“1Q”) of 2026, as the initial optimism that followed after US Supreme Court ruling against President Donald Trump’s planned tariffs was quickly offset by concerns over the US-Iran military conflict and subsequent surge in energy prices. The Morgan Stanley Capital International (“MSCI”) All Country World Index declined by 3.10% over the quarter to date. Korea (+17.06%), Taiwan (+9.28%), Thailand (+16.79%), Hong Kong (+4.50%) and Japan (+1.74%) all gained in 1Q 2026, but more notably, both the United States (“US”) (-6.22%) and China (-7.34%) underperformed for the quarter.
View
About the talk:

Join Nova Lui, Head of Investor Advisory at RHB Bank, as he unpacks Q1 2026’s sharp market swings driven by AI-led rallies and geopolitical shocks, and what they signal for the quarter ahead. Discover how investors can navigate this environment through a Core-Satellite approach, with insights into Asia Pacific’s growing role in the AI supply chain, broader opportunities within global technology, and the rising importance of income-focused strategies. The session also highlights key fund performances and practical portfolio ideas to stay invested, manage volatility, and capture opportunities in Q2 and beyond.

About the speaker:

Nova Lui
Head of Investors Advisory, RHB Bank

Disclaimer:
This podcast has been prepared by RHB and is solely for your information only. It is strictly private, confidential and personal to its recipients and should not be copied, distributed or reproduced in whole or in part, nor passed to any third party, without obtaining prior permission of RHB Bank Sdn Bhd (“RHB”).

In preparing this presentation, RHB has relied upon and assumed the accuracy and completeness of all information available from public sources or which was otherwise reviewed by RHB. Accordingly, whilst we have taken all reasonable care to ensure that the information contained in this presentation is not untrue or misleading at the time of publication, we cannot guarantee its accuracy or completeness and make no representation or warranty (whether expressed or implied) and accept no responsibility or liability for its accuracy or completeness. You should not act on the information contained in this podcast without independently verifying its contents.

Any opinion, management forecast or estimate contained in this podcast is based on information available as the date of this podcast and is subject to change without notice. It does not constitute an offer or solicitation to deal in units of any RHB fund and does not have regard to the specific investment objectives, financial situation or the particular needs of any specific person who may receive this. Investors may wish to seek advice from a financial adviser/unit trust consultant before purchasing units of any funds. In the event that the investor chooses not to seek advice from a financial adviser/unit trust consultant, he should consider whether the fund in question is suitable for him. Past performance of the fund or the manager, and any economic and market trends or forecast, are not necessarily indicative of the future or likely performance of the fund or the manager. The value of units in the fund, and the income accrued to the units, if any, from the fund, may fall as well as rise.

Product Highlights Sheets (“PHS”) highlighting the key features and risks of the RHB Gold and General Fund dated 21 July 2009, TA Total Return Income Fund dated 11 January 2023, Principal Nasdaq Equity Premium Income Fund dated 21 February 2025, RHB Global Shariah Equity Index Fund dated 16 November 2020, RHB Global Focused Growth Equity Fund dated 28 January 2026, RHB Global Equity Premium Income Fund dated 8 January 2025, RHB I-Global Dividend Fund dated 12 December 2025, RHB Asia Pacific Equity Dividend Fund dated 3 January 2023, and RHB Asia Equity High Income Fund dated 3 July 2025 (“Fund”) are available and investors have the right to request for a PHS.

Investors are advised to obtain, read and understand the PHS and the contents of the Information Memorandum and its supplementary (ies) (if) (“the Information Memorandum”) before investing. The Information Memorandum has been registered with the Securities Commission Malaysia (“SC”) who takes no responsibility for its contents. The SC’s approval and authorization of the registration of the Information Memorandum should not be taken to indicate that the SC has recommended or endorsed the Fund. Amongst others, investors should consider the fees and charges involved. Investors should also note that the price of units and distributions payable, if any, may go down as well as up. Where a distribution is declared, investors are advised that following the issue of additional units/distribution, the NAV per unit will be reduced from cum distribution NAV to ex-distribution NAV. Any issue of units to which the Information Memorandum relates will only be made on receipt of a form of application referred to in the Information Memorandum. The printed copy of prospectus and Product Highlight Sheet is available at RHB branches/Premier Centre and investors have the right to request for a Product Highlight Sheet. Investors are advised that investments are subject to investment risk and that there can be no guarantee that any investment objectives will be achieved. Investors should conduct their own assessment before investing and seek professional advice, where necessary and should not make an investment decision based solely on this update.

The Manager wishes to highlight the specific risks of RHB Gold And General Fund. The Fund is a feeder fund that invests primarily in an underlying target fund. As such, investors are exposed to the risks of both the Fund and the underlying target fund, including but not limited to Market Risk, Foreign Exchange and Currency Risk, Political, Regulatory and Legal risk, Derivatives risk, Liquidity risk, Small And Medium Capitalization Companies Risk, Commodities Risk, Broker Risk, Counterparty Risk, Equity Securities Risk, Investment Management Risk, Risk Of Using Rating Agencies And Other Third Parties, and Concentration Risk. The risks of the TA Total Return Income Fund are External Investment Manager’s Risk, Currency Risk, Liquidity Risk, Derivatives Risk, Counterparty Risk, Commodities Risk – Gold, Collective Investment Scheme Risk which refers to the Underlying Fund Risk, Concentration Risk, Multiple Levels of Expenses, and Risks of Investing in ETFs, Temporary Suspension of the Collective Investment Schemes Risk, and Distribution Out of Capital Risk. The General Risks for the Principal Nasdaq Equity Premium Income Fund are Market Risk, Inflation Risk, Manager Risk, Financing Risk, Liquidity Risk, and the investment of the fund is subject to market fluctuations and its inherent risk, meaning the returns and capital for this fund is not guaranteed. The specific risks to the Principal Nasdaq Equity Premium Income Fund are Currency Risk, Target Fund Investment Manager Risk, and Country Risk. Other risks associated with investments in the Target Fund of the Principal Nasdaq Equity Premium Income Fund are Availability of investment opportunities, Balance sheet risk, Cash positions and temporary defensive positions, Collection account risk, Collateral risk, Costs of buying or selling shares risk, Counterparty risk, Currency risk, Cyber security risk, Derivative risk, Settlement risk, Short selling risk, Warrants, Dividends, Fluctuation of net asset value and market pricing risk. Indemnification obligations, Legal risk – Over-the-counter (“OTC”) derivatives, reverse repurchase transactions, securities lending and re-used collateral, Liquidity risk, Listing, Market risk, Political and/or regulatory, Risks in relation to equity securities, Particular risks of exchange traded derivative transactions, Particular risks of OTC derivative transactions, Investment in Real Estate Investment Trusts (REITs), Secondary market trading risk, Securities lending, Suspension of share dealings, Tax risk, Underperformance risk, Volcker rule, and Sustainability risk. The risks of the RHB Global Shariah Equity Index Fund are Management Risk, Liquidity Risk, Currency Risk, and Country Risk. The key risks of the target fund associated with the RHB Global Shariah Equity Index Fund are Market Risk, Emerging Markets Risk, Foreign Exchange Risk, Shariah Restrictions Risk, Stock Risk, Liquidity Risk, Risks Associated with Government or Central Banks' Intervention, Prohibited Securities Risk, Taxation Risk, Risks relating to the Index, Counterparty Risk, Index Tracking Risk, Operational Risk, Corporate Actions Risk, Custody Risk, Reliance on Third Party Data Providers, Cyber Security Risk, Pandemic Risk, Exchange Rate Risk, and Investment Leverage Risk. The key risks of the RHB Global Focused Growth Equity Fund are Fund Management Risk, Liquidity Risk, Currency Risk, Country Risk, Financial Derivatives Risk, Credit and Default Risk, Interest Rate Risk, Suspension of Redemption Risk, and Distribution out of Capital Risk. The key risks of the target fund associated with the RHB Global Focused Growth Equity Fund are Conflicts of Interest Risk, Counterparty Risk, Custody Risk, Cybersecurity Risks, Environmental, Social, and Governance Risk, Operational Risk, Currency Risk, Derivatives Risk, Emerging Market Risk, Equity Risk, Sustainability Risk, Inflation Risk, Investment Fund Risk, Market Liquidity Risk, Market Risk, Geographic Concentration Risk, Hedging Risk, Small and Mid-cap Risk, Security Liquidity Risk, and Style Risk. The risks of the RHB Asia Equity High Income Fund are Fund Management Risk, Liquidity Risk, Currency Risk, Country Risk, Financial Derivatives Risk, Credit and Default risk, Interest Rate Risk, Suspension of Redemption Risk, and Distribution out of Capital Risk. The key risks of the underlying target fund associated with the RHB Asia Equity High Income Fund are Investment risk, Equity risk, Political, economic and social risks, Market risk, Currency risk, Hedging risk, Derivatives risk, Leverage risk, Concentration risk, Emerging markets risk, Low level of monitoring risk, Legal, tax and regulatory risk, Liquidity risk, Valuation risk, Volatility risk, Custodial risk, Counterparty risk, People’s Republic of China tax risk consideration, Small and medium-sized companies risk, Early termination risk, Technology related companies risk, Cross-class liability risk, Renminbi currency risk, China market risk, Risk associated with foreign shareholding restrictions on China A-Shares, Risk associated with short swing profit rule, Risks associated with Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, Risks associated with collateral management and re-investment of cash collateral, Distribution risk, Real estate investment trusts risk, Chinese variable interest entity risk, and Payment of distribution out of capital risk. The risks of the RHB Global Equity Premium Income Fund are Fund Management Risk, Liquidity Risk, Currency Risk, Country Risk, Interest Rate Risk, Suspension of Redemption Risk, and Distribution Out of Capital Risk. The key risk of the target fund associated with the RHB Global Equity Premium Income Fund are Availability of Investment Opportunities Risk, Balance Sheet Risk, Cash Positions and Temporary Defensive Positions Risk, Collection Account Risk, Collateral Risk, Costs of Buying or Selling Shares Risk, Counterparty Risk, Currency Risk, Cyber Security Risk, Derivative Risks, Settlement Risk, Short Selling Risk, Warrants Risk, Dividends Risk, Fluctuation of NAV and Market Pricing Risk, Indemnification Obligations Risk, Legal Risk – Over-the-counter Derivatives, Reverse Repurchase Transactions, Securities Lending and Re-used Collateral, Liquidity Risk, Listing Risk, Market Risk, Political and/or Regulatory Risk, Risks in relation to Equity Securities, Particular Risks of Exchange Traded Derivative Transactions, Particular Risks of Over-the-counter Derivative Transactions, Investment in Emerging and Less Developed Markets Risk, Investment in Real Estate Investment Trusts Risk, Secondary Market Trading Risk, Securities Lending Risk, Suspension of Share Dealings Risk, Tax Risk, Underperformance Risk, Volcker Rule Risk, and Sustainability Risk. The risks of the RHB I-Global Dividend Fund are Shariah-Compliant Equity Risk, Shariah-Compliant Equity-Related Securities Risk, Currency Risk, Country Risk, Concentration Risk, Reclassification of Shariah Status Risk, Risk of Investing in Emerging Markets, Company Specific Risk, and Distribution Out of Capital Risk. The risks for the RHB Asia Pacific Equity Dividend Fund are Management Risk, Liquidity Risk, Currency Risk, Country Risk, and Interest Rate Risk. The key risks associated with the target fund associated with the RHB Asia Pacific Equity Dividend Fund are Investment risk, Equity risk, Political, economic and social risks, Market risk, Dividend-paying equity risk, Emerging markets risk, Concentration risk, Smaller companies risk, Currency risk, Liquidity risk, Risk associated with high volatility of the equity market in the Asian region, Hedging risk, Derivatives risk, Leverage risk, RMB currency risk, Real estate investment trusts (REITs) risk, Special Purpose Acquisition Company (SPAC) risk, Payment of distributions out of capital risk, Low level of monitoring risk, Legal, tax and regulatory risk, Valuation risk, Volatility risk, Custodial risk, Counterparty risk, People’s Republic of China (PRC) tax risk consideration, Early termination risk, Technology related companies risk, Cross-class liability risk, China market risk, Risk associated with foreign shareholding restrictions on China A, Shares, Risk associated with short swing profit rule, Risks associated with China Connect, Risks associated with the investments in stocks listed on the Beijing Stock Exchange and/or the ChiNext Board of the SZSE and/or the, Science and Technology Innovation Board (“STAR Board”) of the SSE, Risks associated with equity-linked notes and participation notes, Risks associated with collateral management and re-investment of cash collateral, London Interbank Offer Rate (“LIBOR”) discontinuance or unavailability risk, and Chinese variable interest entity risk. It is important to note that the risks highlighted for the Funds mentioned above and other general risks are elaborated in the Information Memorandum/Prospectus.

Retail Bond is not a principal guaranteed product. The holder of the investment is assuming the credit risk of the issuer of the investment. In the event of winding up, liquidation or rating downgrade of the issuer of the investment or if you sell the investment prior to maturity, you will suffer a potential capital loss. Investor should obtain, read and understand the Product Highlight Sheet of the Retail Bond carefully before you make a decision to acquire the product. All information provided in this document is general and does not take into account of your individual objectives, financial situation or specific needs. The printed copy of Product Disclosure Sheet is available at RHB branches/Premier Centre and investors have the right to request for a Product Disclosure Sheet.

This podcast has not been reviewed by the Securities Commission Malaysia (SC).
PREVIOUS ARTICLE
March 2026 Monthly Market Insights

Switch to RHB Premier today

Please fill in the fields below so we can get in touch with you.

You may also be interested in:
Slider image 01
RHB Multi Currency Account allows you to hold up to 33 foreign currencies and precious metals in one account.
Get financial flexibility of up to RM300,000* with financing from as low as RM24.66 per month for a tenure of up to 10 years.
Get a home in the UK or Australia with RHB Overseas Property Loan and lock in favourable exchange rate through early release.
PRIVACY NOTICE | PRIVACY POLICY

Get in touch with RHB Premier today.

Visit www.rhbgroup.com/overview/premier or any of our Premier Centres

rhb-footer-logo

This publication has been prepared by RHB Bank Berhad and is solely for your information only. It may not be copied, published, circulated, reproduced or distributed in whole or part to any person without the prior written consent of RHB Bank Berhad. In preparing this article, RHB Bank Berhad has relied upon and assumed the accuracy and completeness of all information available from public references and articles or which was otherwise reviewed by RHB Bank Berhad. Accordingly, whilst we have taken all reasonable care to ensure that the information contained in this article is not untrue or misleading at the time of publication, we cannot guarantee its accuracy or completeness or fairness of such opinions and make no representation or warranty (whether expressed or implied) and accept no responsibility or liability for its accuracy or completeness. You should not act on the information contained in this article without first independently verifying its contents.

Any opinion, historical account, personal profile, estimate or data contained in this article is based on information available as of the date of this article and are subject to change without notice. It does not constitute any advice, offer or solicitation by RHB Bank Berhad. This document and its contents are not intended to constitute an offer for sale and/or invitation to subscribe for or purchase or otherwise acquire any of the instruments referred to herein.

Disclaimer for Video and Podcast by RHB Asset Management:

The podcast provided herein is solely for information purposes only. It does not take into account the specific investment objectives, financial situations or particular needs of any particular person.

This podcast does not constitute an offer, solicitation or recommendation to buy or sell or subscribe for any security or financial instrument or to enter into any transaction or to participate in any particular trading or investment strategy. Information contained in the podcast should not be relied upon when making investment decisions. You should seek independent legal or tax advice before making any investment decisions. Investments are subject to investment risks, including the possible loss of the principal amount invested. Value of the investments and the income, if any, may fall or rise.

No representation or warranty whatsoever (including without limitation any representation or warranty as to accuracy, usefulness, adequacy, timeliness or completeness) in respect of any information (including without limitation any statement, figures, opinion, view or estimate) provided herein and it should not be relied upon as such. The information provided herein may contain projections or other forward-looking statements regarding future events or future performance of countries, assets, markets or companies. Actual events or results may differ materially. Past performance figures are not necessarily indicative of future or likely performance.

Any reference to any specific company, financial product or asset class in whatever way is used for illustrative purposes only and does not constitute a recommendation on the same. RHBAM does not guarantee that all risks associated to the transactions mentioned herein have been identified, nor does it provide advice as to whether you should enter into any such transaction. The contents hereof may not be reproduced or disseminated in whole or in part without RHBAM’s written consent.

This podcast has not been reviewed by the Securities Commission Malaysia. You should not act on the information contained in this podcast without first independently verifying its contents.

Disclaimer for Video and Podcast by Economics and Market Strategy:

This report is prepared for information purposes only by the Economics and Market Strategy division within RHB Bank Berhad and/or its subsidiaries related companies and affiliates, as applicable (“RHB”). All research is based on material compiled from data considered to be reliable at the time of writing, but RHB does not make any representation or warranty, express or implied, as to its accuracy, completeness or correctness.

Neither this report, nor any opinion expressed herein, should be construed as an offer to sell or a solicitation of an offer to acquire any securities or financial instruments mentioned herein. RHB (including its officers, directors, associates, connected parties, and/or employees) accepts no liability whatsoever for any direct or consequential loss arising from the use of this report or its contents. This report may not be reproduced, distributed or published by any recipient for any purpose without prior consent of RHB and RHB (including its officers, directors, associates, connected parties, and/or employees) accepts no liability whatsoever for the actions of third parties in this respect. Recipients are reminded that the financial circumstances surrounding any company or any market covered in the reports may change since the time of their publication. The contents of this report are also subject to change without any notification.

This report does not purport to be comprehensive or to contain all the information that a prospective investor may need in order to make an investment decision. The recipient of this report is making its own independent assessment and decisions regarding any securities or financial instruments referenced herein. Any investment discussed or recommended in this report may be unsuitable for an investor depending on the investor’s specific investment objectives and financial position. The material in this report is general information intended for recipients who understand the risks of investing in financial instruments. This report does not take into account whether an investment or course of action and any associated risks are suitable for the recipient. Any recommendations contained in this report must therefore not be relied upon as investment advice based on the recipient's personal circumstances. Investors should make their own independent evaluation of the information contained herein, consider their own investment objective, financial situation and particular needs and seek their own financial, business, legal, tax and other advice regarding the appropriateness of investing in any securities or the investment strategies discussed or recommended in this report.

RHB (including its respective directors, associates, connected parties and/or employees) may own or have positions in securities or financial instruments of the company(ies) covered in this research report or any securities or financial instruments related thereto, and may from time to time add to, or dispose off, or may be materially interested in any such securities or financial instruments. Further, RHB does and seeks to do business with the company(ies) covered in this research report and may from time to time act as market maker or have assumed an underwriting commitment in securities or financial instruments of such company(ies), may sell them or buy them from customers on a principal basis and may also perform or seek to perform significant banking, advisory or underwriting services for or relating to such company(ies), as well as solicit such banking, advisory or other services from any entity mentioned in this research report.

RHB (including its respective directors, associates, connected parties and/or employees) do not accept any liability, be it directly, indirectly or consequential losses, loss of profits or damages that may arise from any reliance based on this report or further communication given in relation to this report, including where such losses, loss of profits or damages are alleged to have arisen due to the contents of such report or communication being perceived as defamatory in nature.

This podcast has not been reviewed by the Securities Commission (SC) and/or Bank Negara Malaysia (BNM).

RHB Bank Berhad 196501000373 (6171-M)

You are about to enter a third party website and RHB Banking Group's privacy policy will cease to apply.

This link is provided for your convenience only, and shall not be considered or construed as an endorsement or verification of such linked website or its contents by RHB Banking Group.

RHB Banking Group also makes no warranties as to the status of this link or information contained in the website you are about to access.