Bursa Malaysia closed lower on Wednesday as broad selling outweighed gains in regional markets.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 11.95 points, or 0.69%, to 1,708.76, recovering from an intraday low of 1,704.06. Other key indices also ended in the red, reflecting widespread selling pressure.
Trading activity remained brisk, with 3.35 billion shares worth RM4.03 billion changing hands. Market breadth turned negative, with losers outnumbering gainers 967 to 283.
Among the top decliners, Nestle slid RM1.96 to RM98.44, United Plantations dropped RM1 to RM33.82, Hong Leong Financial Group fell 70 sen to RM19.30, and Allianz lost 64 sen to RM20.68. On the upside, PETRONAS Gas rose RM1.06 to RM17.86, F&N gained 42 sen to RM29.72, PETRONAS Chemicals added 32 sen to RM5.80, and Dutch Lady increased 28 sen to RM31.98.
Dealers said sentiment remained cautious despite gains across Asia, with investors wary of geopolitical tensions and oil price volatility. Markets briefly took comfort after US President Donald Trump postponed a threat to target Iran’s power grid following “productive” talks with Tehran.
Elsewhere in Asia, markets rallied. MSCI’s Asia ex-Japan index rose 1.85%, led by Japan’s Nikkei 225, which climbed 1.43% to 52,252.28, and South Korea’s Kospi, up 2.74% to 5,553.92. China’s CSI300 Index gained 1.28% to 4,474.72, the Shanghai Composite Index added 1.78% to 3,881.28, and Hong Kong’s Hang Seng Index jumped 2.79% to 25,063.71.
Oil prices rose on supply concerns after Iran denied holding talks with the US to end the Gulf conflict, contradicting Trump’s claim that a deal was near. Brent crude rose US$2.09, or 2.09%, to US$102.03 per barrel, while US West Texas Intermediate advanced US$2.31, or 2.62%, to US$90.44 per barrel.
