KUALA LUMPUR: Bursa Malaysia’s benchmark index closed lower yesterday, in line with most regional markets, as investors adjusted their risk exposure amid spiralling oil prices driven by the ongoing West Asia conflict, now in its second month.
At 5pm, the bearish FBM KLCI retreated by 24.75 points, or 1.44%, to 1,687.9 from last Friday’s close of 1,712.65.
Decliners thumped advancers 956 to 371, with a total of 373 counters unchanged, 1,042 untraded and 134 suspended.
Turnover expanded to 3.98 billion units worth RM4.85bil from last Friday’s 2.97 billion units worth RM3.25bil.
IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said higher energy prices are reinforcing expectations of a more persistent inflation environment, which in turn dampens confidence in near-term monetary easing and weighs on equity valuations, particularly in interest rate-sensitive segments. — Bernama
