Bursa Malaysia ended the week lower, with the benchmark FBM KLCI losing 7.98 points or 0.46% to 1,727.39 from 1,735.37 at the start of the week as oil-related counters, geopolitical concerns and late-week profit-taking offset a strong midweek rebound.
The index began the week on a cautious note, slipping 0.02% to 1,735.37 on Monday as plantation and utilities counters weighed on sentiment.
Weakness extended into Tuesday, with the KLCI falling another 3.91 points or 0.23% to 1,731.46 as higher oil prices and geopolitical concerns prompted further selling. Financial and utility counters were among the sectors weighing on the market.
The market staged its strongest move of the week on Wednesday, however, with the KLCI jumping 10.15 points or 0.59% to 1,741.61. Utilities and petrochemical counters led the rebound, while gains in heavyweights helped the index reach an intraday high of 1,742.79.
The recovery proved short-lived as the index gave back 6.90 points or 0.40% on Thursday to 1,734.71. Oil-related stocks came under pressure as selling returned to the market.
The decline accelerated into Friday, with the KLCI falling another 7.32 points or 0.42% to 1,727.39. The index traded between 1,726.77 and 1,734.72 as investors remained cautious despite renewed buying interest in selected sectors following Malaysia’s second-quarter GDP growth of 6.2%.
The broader market was mixed on the final trading day. The FBM ACE gained 50.13 points to 5,294.78, while the FBM Emas fell 43.10 points to 12,815.44. The FBMT 100 declined 46.44 points to 12,626.26, while the FBM Emas Shariah and FBM 70 fell 65.75 points and 37.02 points respectively.
Overall, the week’s performance highlighted the market’s difficulty in sustaining gains after the KLCI’s sharp recovery earlier in the year. The index had rallied around 95 points from its year-to-date low of about 1,655 on June 29 to around 1,750 on August 6, before moving largely sideways.
With oil prices, geopolitical developments and external market signals continuing to influence sentiment, the KLCI’s inability to hold Wednesday’s rebound suggests investors remain selective despite Malaysia’s relatively strong domestic economic backdrop.
