Broker Name: OCBC Global Markets

Date of Report: 20 March 2026

Excerpt from OCBC Global Markets report.

• Geopolitical tensions in the Middle East have caused disruptions to oil and gas infrastructure, leading to heightened inflation concerns and a risk-off sentiment across global equity, bond, and commodity markets. Major indices in the US, Europe, and Asia declined, with commodities like gold and silver falling sharply while oil prices surged.
• OCBC highlights the global defence sector has further upside potential, especially in Asia, as governments seek greater self-sufficiency. Investors are encouraged to focus on defence contractors involved in emerging areas such as unmanned systems and cybersecurity, as well as indirect beneficiaries in basic metals and materials.

Report Summary:

• Global markets are volatile due to Middle East conflict impacting oil routes and inflation, causing broad market declines.
• Defence sector is seen as a growth area, with Asian stocks and emerging technologies offering investment opportunities.

Above is an excerpt from a report by OCBC Global Markets. Clients of OCBC can be the first to access the full report from the OCBC website: https://www.ocbc.com