KUALA LUMPUR: Bursa Malaysia maintained its downward momentum at midday, in line with the weaker performance across regional markets as sentiment was dragged by renewed developments surrounding the United States (US)-Iran conflict.
It was reported that the US and Iran exchanged fire in the Strait of Hormuz on Thursday, although US president Donald Trump said the ceasefire remained in place.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.01 points, or 0.40 per cent, to 1,751.84 from Thursday’s close of 1,758.85.
The benchmark index, which opened 0.78 points lower at 1,758.07, moved between 1,749.82 and 1,760.19 during the morning trading session.
Market breadth was negative with losers outpacing gainers 699 to 356, while 486 counters were unchanged, 1,111 untraded and nine suspended.
Turnover stood at 1.93 billion units, valued at RM1.36 billion.
Hong Leong Investment Bank Bhd (HLIB) said the local bourse tracked the choppy Wall Street session overnight, while Brent crude climbed back above US$100 per barrel.
"As such, the FBM KLCI is expected to remain volatile and headline-driven, particularly on developments surrounding the US-Iran conflict and potential diplomatic efforts to reopen the Strait of Hormuz.
"Sentiment is likely to stay cautious amid renewed clashes between the US and Iran, coupled with Washington still awaiting Tehran’s response to proposals aimed at de-escalation and restoring shipping flows through the Strait of Hormuz," it said in a note.
Despite near-term volatility, the KLCI has maintained a strong uptrend, supported by positive first-quarter 2026 earnings expectations across banks, utilities, energy and healthcare, alongside sustained domestic liquidity and a constructive macro backdrop.
The bank said Malaysia’s status as a net energy exporter also offers relative resilience against higher oil prices versus regional peers.
"Going forward, market focus will shift to earnings guidance and macroeconomic signals as investors balance resilient fundamentals against rising geopolitical risks, higher energy costs, supply chain pressures and potential growth headwinds," it added.
Technically, key support is seen at 1,710-1,730, while resistance stands at 1,771-1,789, said HLIB.
Among the heavyweights, Maybank and Tenaga Nasional slipped six sen each to RM11.20 and RM14.74, respectively.
Public Bank shed three sen to RM4.86, CIMB Group
gave up five sen to RM7.99, and IHH Healthcare rose one sen to RM8.89.
Among the most active counters, Top Glove added 1.5 sen to 7.5 sen, ACE Market debutant Inspace Creation inched up one sen to 26 sen, Hartalega gained six sen to RM1.24, and Tanco improved two sen to RM1.67.
Among the top gainers, Hong Leong Industries surged RM1.14 to RM19.34, Petronas Dagangan soared 20 sen to RM20.76, Pentamaster Corp went up 18 sen to RM4.56, and TIME dotcom gained 16 sen to RM6.30.
Among the top losers, Nestle (M) dropped RM2.20 to RM101.90, UMS Integration Ltd slipped 29 sen to RM7.08, Batu Kawan trimmed 26 sen to RM21.14, and Kuala Lumpur Kepong shed 24 sen to RM21.06.
On the index board, the FBM Emas Index fell 41.95 points to 12,938.78, the FBM Top 100 Index reduced 43.26 points to 12,783.48, the FBM Emas Shariah Index slid 21.35 points to 12,841.78, the FBM Mid 70 Index declined 28.34 points to 18,428.75, and the FBM ACE Index slipped 58.42 points to 4,607.32.
By sector, the Financial Services Index gave up 87.30 points to 20,386.13, the Energy Index eased 1.97 points to 809.89, and the Plantation Index fell 73.28 points to 8,864.49, while the Industrial Products and Services Index was marginally higher by 0.73 of a point at 195.15. - Bernama
