Bursa Malaysia opened sharply lower, mirroring weakness across regional markets as investors reacted to a global technology-led sell-off and renewed geopolitical tensions in the Middle East that pushed oil prices higher.
The benchmark FBM KLCI fell 14.04 points, or 0.83%, to 1,679.39 as at 9.26am after opening at 1,683.54. The index touched an intraday low of 1,676.95 in early trade.
Selling pressure was broad-based, with the FBM Top 100 Index declining 120.41 points, or 0.97%, to 12,321.49, while the FBM Emas Index shed 122.59 points to 12,479.47. The FBM 70 Index was among the biggest losers, dropping 250.53 points, or 1.37%, to 18,049.07, while the FBM Small Cap Index fell 1.21% to 15,257.63.
Sectoral indices were also firmly in negative territory. The Bursa Malaysia Technology Index led declines, falling 1.52%, while the Construction Index dropped 1.19%. The Consumer Products and Services Index eased 0.90%, while the Energy Index slipped 0.62% despite stronger crude oil prices.
The cautious mood followed a steep decline on Wall Street last Friday, where technology stocks led a broad market retreat amid concerns that stronger-than-expected US economic data could keep interest rates elevated for longer. Sentiment was further dampened after Israel launched strikes on the Beirut area over the weekend, sending Brent crude and US crude futures more than US$2 higher.
Among the most actively traded counters, Zetrix AI fell 1.5 sen to 81 sen, VS Industry lost 0.5 sen to 20.5 sen, Capital A declined 1.5 sen to 40.5 sen and AirAsia X shed two sen to RM1.11. Hong Seng was unchanged at one sen.
On the broader market, MTEC was the top gainer, rising nine sen to RM1.10, followed by PJBumi, which added nine sen to RM3.34. EITA Resources gained eight sen to 55 sen.
Leading the losers were Malaysian Pacific Industries, which fell RM1.60 to RM45.20, Nestlé Malaysia, down 78 sen to RM93.50, and Petronas Dagangan, which slipped 42 sen to RM18.82.
