KUALA LUMPUR: Bursa Malaysia finished the morning session lower as continued volatility in global conditions was seen in the near term after US President Donald Trump gave Iran a 48-hour deadline to reopen the Strait of Hormuz.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 5.97 points to 1,689.53 from Friday’s close of 1,695.50.
The benchmark index, which opened 1.18 points lower at 1,694.32, moved between 1,688.62 and 1,697.88 during the morning session.
Market breadth was negative with losers surpassing gainers 585 to 272, while 498 counters were unchanged, 1,292 untraded, and 10 suspended.
Turnover stood at 1.73 billion units worth RM1.22 billion.
Apex Securities Bhd said the escalating geopolitical tensions have pushed oil prices above US$110 per barrel amid concerns over supply disruptions, as the Strait of Hormuz accounts for a significant portion of global oil shipments.
It added that the sharp rise in crude prices might heighten inflationary pressures and dampen risk appetite, potentially weighing on the broader equity market while supporting energy and commodity-linked stocks.
"Against this backdrop, the Malaysian market is expected to remain cautious, with energy-related stocks supported by firmer oil prices, while export-oriented and manufacturing sectors may face margin pressure from rising input and logistics costs amid heightened geopolitical uncertainties,” Apex Securities said in a note today.
The brokerage favours the energy sector amid escalating West Asia tensions, with upstream oil and gas players benefiting from higher crude prices, which support near-term earnings momentum.
Among the heavyweights, Maybank and Tenaga Nasional rose two sen each to RM11.28 and RM14.06, respectively, SD Guthrie was flat at RM6.20, while Public Bank eased one sen to RM4.65 and CIMB declined five sen to RM7.44.
On the most active list, VS Industry grew two sen to 20 sen, Velesto
added one sen to 36 sen, Ambest increased 5.5 sen to 40.5 sen, Zetrix was flat at 76 sen, and Top Glove shed 4.5 sen to 76.5 sen.
Among the top gainers, Fraser & Neave advanced 68 sen to RM29.18 and DKSH went up 16 sen to RM5.76, while Ayer Holdings, Sarawak Plantation and Batu Kawan all jumped 14 sen each to RM7.15, RM3.74 and RM21.76, respectively.
As for top losers, Kuala Lumpur Kepong dropped 50 sen to RM22.38, Petronas Dagangan lost 42 sen to RM20.80, Hong Leong Bank contracted 34 sen to RM21.38, and IHH Healthcare erased 24 sen to RM8.72.
On the index board, the FBM Top 100 Index tumbled 50.92 points to 12,200.20, the FBM Emas Index shrank 50.10 points to 12,342.06, the FBM Emas Shariah Index trimmed 65.63 points to 12,203.93, the FBM ACE Index slid 41.95 points to 4,267.97, and the FBM Mid 70 Index shaved off 105.13 points to 17,035.80.
By sector, the Financial Services Index trimmed 76.03 points to 19,773.69, the Plantation Index slipped 31.42 points to 9,124.09, the Industrial Products and Services Index edged down 0.32 of a point to 184.43, and the Energy Index eased 1.70 points to 816.82. - Bernama
