Bursa Malaysia opened lower, with all major indices retreating amid cautious investor sentiment following mixed signals from Wall Street and a rebound in crude oil prices.
The benchmark FBMKLCI fell 12.06 points, or 0.71%, to 1,696.72 by 9.11 am. Other key indices were also in the red, with the FBM70 down 62.39 points, or 0.36%, to 17,100.05, the F4GBM slipping 5.84 points, or 0.58%, to 1,001.74, the FBMEMAS retreating 73.25 points, or 0.59%, to 12,410.89, and the FBMSHA easing 35.58 points, or 0.29%, to 12,127.96.
Among the most active counters, OGX led trading volume at 326.67 million shares, closing 0.045 lower at RM0.305. AAX fell 0.06 to RM1.14 on 12.05 million shares, while HIBISCS gained 0.06 to RM2.26 with 10.03 million shares traded. HENGYUAN rose 0.10 to RM1.66 on 8.91 million shares, and CAPITALA retreated 0.01 to RM0.415 with 7.89 million shares exchanging hands.
Top gainers in early trade included UTDPLT, up 0.26 to RM31.90, PCHEM rising 0.25 to RM4.39, and MPI gaining 0.22 to RM30.20. Among the laggards, NESTLE slipped 0.90 to RM102.00, PINEAPP fell 0.22 to RM0.60, and CARLSBG eased 0.14 to RM17.32.
The cautious start reflected global market developments, with U.S. futures pointing to a softer open after a mixed Wall Street session. Crude oil for April delivery rebounded nearly 4% following Tuesday’s almost 12% drop, as geopolitical tensions in the Middle East intensified. Reports of projectiles striking vessels off Iran’s coast and fears of Iran mining the Strait of Hormuz added to supply concerns.
U.S. economic data released on Wednesday showed consumer prices for February increased in line with expectations, with headline CPI up 0.3% month-on-month and core CPI rising 0.2%. Annual rates remained unchanged at 2.4% and 2.5% respectively, providing insight into the Federal Reserve’s interest rate trajectory.
Investors also remained alert to regional developments, including oil supply concerns and upcoming U.S. reports on crude inventories, which could influence sentiment on Bursa in the coming sessions.
