High Oil Prices Drag Bursa Lower

Bursa Malaysia closed sharply lower on Sept 11, tracking another round of regional selling as persistently high crude oil prices continued to weigh on investor sentiment.

At the closing bell, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 18.78 points, or 1.1%, to 1,686.74 from previous day’s close of 1,705.52. The benchmark traded between 1,682.56 and 1,705.69 during the session.

Losses were broad-based, with the FBM 70 dropped 171.96 points, or 0.96%, to 17,728.64, while the F4GBM declined 11.23 points, or 1.1%, to 1,014.23.

The FBM Emas slipped 128.95 points, or 1.02%, to 12,510.20, while the FBM Shariah lost 105.89 points, or 0.85%, to 12,396.81.

Among the most actively traded stocks, Top Glove Corporation Bhd gained 3.5 sen to 80 sen on about 210.5 million shares, while Zetrix AI Bhd was unchanged at 25 sen on 182.4 million shares.

Supermax Corporation Bhd fell one sen to 42 sen on 64.4 million shares, while GTA Holdings Bhd advanced 2.5 sen to 35.5 sen on 57.4 million shares. Luster Industries Bhd was unchanged at 3.5 sen on 54.2 million shares.

Total market turnover stood at 3.57 billion units worth RM3.28 billion compared to 3.98 billion units valued at RM3.14 billion on Sept 10.

The weaker close capped a cautious session for Malaysian equities, with elevated crude oil prices continuing to pressure risk appetite across regional markets.

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