Rising oil prices, AI fears cloud Bursa trajectory

Rakuten Trade's Thong said the local market was tracking weaker regional and global markets, as investors remained cautious amid the uncertain external environment.

PETALING JAYA: Bursa Malaysia is expected to remain under pressure in the near term as investors weigh the outcome of the US Federal Reserve’s (Fed) interest rate decision, rising crude oil prices amid geopolitical tensions in West Asia, and a broader sell-off in artificial intelligence (AI)-related stocks.

The FBM KLCI fell 18.8 points, or 1.1%, to 1,679.21 points yesterday, with selling pressure broad-based across the local market.