KUALA LUMPUR: Bursa Malaysia finished lower on broad selling, bucking a regional rally despite recovering from earlier lows.
The FBM KLCI shed 11.95 points, or 0.69%, to close at 1,708.76, recovering from an intraday low of 1,704.06, with all Bursa Malaysia indices finishing in the red.
Market breadth turned negative, with losers outnumbering gainers 967 to 283, reflecting persistent selling pressure across the broader market.
Trading activity was brisk, with 3.35 billion shares worth RM4.03bil changing hands.
Dealers said sentiment remained cautious despite the regional uptrend, as concerns over geopolitical developments and oil price volatility continued to weigh on risk appetite.
They added that markets briefly took comfort after US President Donald Trump said he had postponed a threat to bomb Iran's power grid following “productive” talks with Tehran.
Among the laggards, Nestle tumbled RM1.96 to RM98.44, United Plantations slid RM1 to RM33.82, Hong Leong Financial Group fell 70 sen to RM19.30, and Allianz lost 64 sen to RM20.68.
On the upside, PETRONAS Gas rose RM1.06 to RM17.86, F&N gained 42 sen to RM29.72, PETRONAS Chemicals added 32 sen to RM5.80, and Dutch Lady
climbed 28 sen to RM31.98.
Meanwhile, Asian markets rallied, led by gains across Japan, South Korea, China and Hong Kong, with MSCI’s Asia ex-Japan index rising 1.85%.
Japan’s Nikkei 225 rose 1.43% to 52,252.28, while South Korea’s Kospi gained 2.74% to 5,553.92.
China’s CSI300 Index added 1.28% to 4,474.72, while the Shanghai Composite Index climbed 1.78% to 3,881.28. Hong Kong’s Hang Seng Index rose 2.79% to 25,063.71.
Reuters reported that oil prices rose on Tuesday on supply concerns after Iran denied holding talks with the US to end the Gulf conflict, contradicting Trump’s claim that a deal was near.
Brent crude rose US$2.09, or 2.09%, to US$102.03 a barrel, while US West Texas Intermediate advanced US$2.31, or 2.62%, to US$90.44 per barrel.
