Kuala lumpur: Bursa Malaysia ended the trading session lower today as growing geopolitical tensions in West Asia influenced investor sentiment. The benchmark index, FTSE Bursa Malaysia KLCI (FBM KLCI), fell by 0.34% or 5.79 points to close at 1,710.89, retreating from its previous close of 1,716.68.
According to BERNAMA News Agency, the market opened slightly higher at 1,719.46 and reached its peak at 1,719.89 during early trading. However, broader market concerns led to a negative market breadth, with 568 losers outpacing 482 gainers. The market saw 569 counters unchanged, 1,140 untraded, and 77 suspended, with an improved turnover of 3.0 billion units valued at RM3.14 billion.
Mohd Sedek Jantan, director of investment strategy and country economist at IPPFA Sdn Bhd, highlighted that oil price dynamics continue to influence market direction. Brent crude oil prices fell to around US$98 per barrel amid expectations of a potential de-escalation but later rebounded sharply to approximately US$105 due to resurfacing geopolitical risks. Mohd Sedek noted that although the FBM KLCI closed softer, the market remains stable without broad-based selling pressure, suggesting a cautious consolidation phase rather than a significant shift in risk perception.
Meanwhile, Thong Pak Leng, vice-president of equity research at Rakuten Trade Sdn Bhd, stated that the benchmark index is supported around the 1,710 level and is anticipated to remain range-bound in the near term. He attributed this to escalating geopolitical tensions and weaker regional cues, which have led investors to adopt a cautious stance. Thong added that while the potential for a ceasefire proposal offers some hope, uncertainty remains high, keeping risk appetite subdued. He expects the FBM KLCI to trade within the 1,710-1,730 range towards the weekend.
In terms of stock performance, major heavyweights displayed mixed results. Maybank remained unchanged, Public Bank and CIMB saw declines, while IHH Healthcare recorded a slight gain. Among the most active stocks, Sunway Healthcare and Dialog performed well, whereas AirAsia X experienced a decline.
Sector-wise, the Financial Services Index decreased significantly, while the Industrial Products and Services Index and Energy Index showed improvements. The Plantation Index experienced a notable surge.
Overall, the Main Market volume expanded, while the Warrants turnover decreased. The ACE Market volume also saw an increase. The consumer products and services counters led the trading activity on the Main Market, followed by industrial products and services, and technology sectors.