Bursa Malaysia Ends Lower Amid Middle East Tensions
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Bursa Malaysia ended the week on a weaker note as $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ fell by 11.58 points to 1,629.97 due to continued selling pressure, particularly in $Bursa Telecommunications & Media (0063I.MY)$ counters. This decline was attributed to rising concerns about global economic uncertainties and escalating tensions in the Middle East.
$Bursa Telecommunications & Media (0063I.MY)$ stocks led the retreat, with $MAXIS (6012.MY)$ and $CDB (6947.MY)$ losing 22 sen and 9 sen, respectively, collectively erasing 4.70 points from the index. Broader market sentiment remained weak as 610 stocks declined, outweighing 410 gainers. 514 stocks remained unchanged, and trading volume decreased to 3.10 billion units valued at RM2.67 billion, compared to 3.29 billion units valued at RM2.52 billion on the previous trading day.
Sectoral Performance: Energy and Plantation Lead Gains
Despite the overall decline in the market, the $Bursa Energy (0061I.MY)$ and $Bursa Plantation (0025I.MY)$ sectors recorded gains. $Bursa Energy (0061I.MY)$ rose by 34.87 points to 892.68, supported by rising global oil prices amidst concerns over potential supply disruptions due to the Middle East conflict. Leading energy stocks such as $HENGYUAN (4324.MY)$ saw significant increases. Similarly, $Bursa Plantation (0025I.MY)$ advanced 4.21 points to 7,185.78, benefiting from steady commodity prices.
On the other hand, $Bursa Finance Services (0010I.MY)$ saw a substantial decline, dropping 70.37 points to 19,190.68, weighed down by losses in heavyweight banking stocks like $MAYBANK (1155.MY)$, $PBBANK (1295.MY)$, and $CIMB (1023.MY)$.
$Bursa Telecommunications & Media (0063I.MY)$ stocks led the retreat, with $MAXIS (6012.MY)$ and $CDB (6947.MY)$ losing 22 sen and 9 sen, respectively, collectively erasing 4.70 points from the index. Broader market sentiment remained weak as 610 stocks declined, outweighing 410 gainers. 514 stocks remained unchanged, and trading volume decreased to 3.10 billion units valued at RM2.67 billion, compared to 3.29 billion units valued at RM2.52 billion on the previous trading day.
Sectoral Performance: Energy and Plantation Lead Gains
Despite the overall decline in the market, the $Bursa Energy (0061I.MY)$ and $Bursa Plantation (0025I.MY)$ sectors recorded gains. $Bursa Energy (0061I.MY)$ rose by 34.87 points to 892.68, supported by rising global oil prices amidst concerns over potential supply disruptions due to the Middle East conflict. Leading energy stocks such as $HENGYUAN (4324.MY)$ saw significant increases. Similarly, $Bursa Plantation (0025I.MY)$ advanced 4.21 points to 7,185.78, benefiting from steady commodity prices.
On the other hand, $Bursa Finance Services (0010I.MY)$ saw a substantial decline, dropping 70.37 points to 19,190.68, weighed down by losses in heavyweight banking stocks like $MAYBANK (1155.MY)$, $PBBANK (1295.MY)$, and $CIMB (1023.MY)$.
Broader Market and Trading Activity
The broader market reflected a mixed performance. $MAYBANK (1155.MY)$ and $PBBANK (1295.MY)$ each fell by 4 sen, while $CIMB (1023.MY)$ dropped 7 sen. However, $Bursa Energy (0061I.MY)$ counters such as $ARMADA (5210.MY)$ rose by 2 sen to close at 50 sen. Among the most actively traded stocks were $CAPITALA (5099.MY)$, which slipped 4.5 sen to 86.5 sen, and $OCR (7071.MY)$, which shed 1 sen to close at 3.5 sen.
$FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$ dropped 60.28 points to 12,209.49, while $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$ lost 67.19 points to 12,114.21. $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$ fell by 9.83 points to 17,286.40, and $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$ dipped 6.23 points to 5,109.52.
The broader market reflected a mixed performance. $MAYBANK (1155.MY)$ and $PBBANK (1295.MY)$ each fell by 4 sen, while $CIMB (1023.MY)$ dropped 7 sen. However, $Bursa Energy (0061I.MY)$ counters such as $ARMADA (5210.MY)$ rose by 2 sen to close at 50 sen. Among the most actively traded stocks were $CAPITALA (5099.MY)$, which slipped 4.5 sen to 86.5 sen, and $OCR (7071.MY)$, which shed 1 sen to close at 3.5 sen.
$FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$ dropped 60.28 points to 12,209.49, while $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$ lost 67.19 points to 12,114.21. $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$ fell by 9.83 points to 17,286.40, and $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$ dipped 6.23 points to 5,109.52.
Outlook and Global Influences
Regionally, markets exhibited mixed trends, with Hong Kong’s $Hang Seng Index (800000.HK)$ continuing its upward trajectory, buoyed by optimism surrounding China’s ongoing stimulus measures. However, investors on Bursa Malaysia remained cautious, as geopolitical risks stemming from the Middle East conflict weighed heavily on market sentiment. Trading volumes were below average, reflecting the broader market’s hesitance to take significant positions amid ongoing global uncertainties.
In conclusion, Bursa Malaysia’s performance for the week was dominated by concerns over rising geopolitical risks, particularly in the Middle East, which led to sustained selling pressure in heavyweights. $Bursa Energy (0061I.MY)$ and $Bursa Plantation (0025I.MY)$ sectors provided some support, but the broader market remained under pressure as investors awaited further clarity on global economic developments.
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