Bursa Malaysia ended the Sept 28-Oct 2 week sharply lower, with the FTSE Bursa Malaysia KLCI (FBM KLCI) losing 40.75 points, or 2.4%, to 1,630.87 from the previous Friday’s 1,671.62, as rising global bond yields, elevated oil prices and persistent foreign selling weighed on sentiment.
The benchmark started the week marginally lower, slipping 0.09% to 1,670.02 on Sept 28, as investors remained cautious amid a lack of fresh catalysts and continued external headwinds.
Selling intensified the next day, when the FBM KLCI tumbled 26.06 points, or 1.56%, to 1,643.96, pressured by surging bond yields and Brent crude prices around US$107 a barrel, which reignited inflation concerns and dampened risk appetite.
The market rebounded 0.43% to 1,651.17 on Sept 30 as bargain hunters returned following the sharp sell-off, although broader sentiment remained cautious ahead of key US inflation data.
That recovery proved short-lived, with the index plunging another 1.26% to 1,630.36 the following day, dragged by selling in heavyweights including Maybank, Public Bank, CIMB, TNB and IHH Healthcare. Weak domestic manufacturing activity and continued foreign outflows added to the pressure.
Bursa eked out a 0.03% gain to 1,630.87 to close out the trading week as bargain hunting cushioned the recent sell-off, but the rebound remained muted amid weakness across regional markets and caution ahead of US labour data.
Overall, the FBM KLCI recorded losses in three of the five sessions, with external rate and inflation concerns dominating trading despite intermittent bargain hunting.
