KUALA LUMPUR: Last-minute selling dragged the FBM KLCI lower on Thursday ahead of the long weekend, as escalating U.S.-Israeli tensions with Iran rattled sentiment and lifted oil prices.
At the close, the FBM KLCI slipped 9.1 points, or 0.53%, to 1,720.71, rebounding from an intraday low of 1,719.93. For the week, the benchmark index rose 1.3%.
Market breadth turned negative, with losers outnumbering gainers 707 to 442, signalling continued selling pressure across the broader market. About 3.35 billion shares, valued at RM4.96bil, changed hands.
Dealers said late profit-taking ahead of the long weekend, coupled with rising geopolitical tensions, prompted investors to trim positions.
They added that the spike in oil prices and weaker regional markets weighed on sentiment, keeping risk appetite subdued, with investors adopting a more cautious stance amid uncertainty over further escalation in the Middle East.
Bursa Malaysia and its subsidiaries will be closed from Friday to Monday (March 20-23, 2026) in conjunction with the Hari Raya Aidilfitri public holiday.
Around the region, MSCI’s Asia ex-Japan stock index was weaker by 2.78%.
Japan’s Nikkei 225 slid 3.83% to 53,372.53, while South Korea’s Kospi fell 2.73% to 5,763.22.
Hong Kong’s Hang Seng index dropped 2.02% to 25,500.58, China’s CSI300 declined 1.61% to 4,583.25, and the Shanghai Composite fell 1.39% to 4,006.55.
Meanwhile, Reuters reported that oil prices jumped, with Brent topping US$115 a barrel — the highest in over a week — after Iran struck Middle East energy sites following Israel’s attack on its South Pars gas field.
Brent surged US$6.17, or 5.75%, to US$113.55 a barrel, while West Texas Intermediate crude rose 59 cents, or 0.61%, to US$96.91 per barrel.
On Bursa Malaysia, F&N plunged RM2.50 to RM29.30, PETRONAS Gas fell RM1.12 to RM16.80, Malaysian Pacific Industries
slid 60 sen to RM29.60, and Hong Leong Financial Group eased 52 sen to RM20.
Gainers were led by United Plantations, up 84 sen to RM34.82, PETRONAS Chemicals rising 58 sen to RM5.48, PPB Group adding 56 sen to RM11.60, and Hong Leong Industries gaining 30 sen to RM17.10.
Among banks, Maybank fell 14 sen to RM11.60, CIMB lost eight sen to RM7.87, Public Bank slipped six sen to RM4.87, and AmBank declined four sen to RM6.79.
In contrast, Hong Leong Bank rose 32 sen to RM22.88, while RHB Bank edged up three sen to RM8.53.
