Bursa Malaysia traded choppily in early dealings, with sentiment cautious amid external uncertainties, traders said.
Tensions in West Asia and elevated oil prices weighed after the United Arab Emirates’ abrupt exit from the Organisation of the Petroleum Exporting Countries (Opec) and its allies.
At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.92 points, or 0.11%, to 1,718.50 from Wednesday’s close of 1,720.42.
The benchmark index opened 0.19 of-a-point lower at 1,720.23.
Market breadth was negative, with losers outpacing gainers 242 to 175. A total of 326 counters were unchanged, 1,929 untraded, and 77 suspended.
Turnover stood at 189.43 million shares worth RM101.98 million.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Brent crude climbed to US$118 per barrel after US President Donald Trump signalled preparations for a prolonged blockade of Iran, heightening concerns over potential disruptions to global energy supply.
“On the domestic front, while the FBM KLCI ended lower yesterday amid profit-taking after recent gains, the pullback may present opportunities to accumulate fundamentally sound blue chips at more attractive valuations.
“Looking ahead, sentiment is expected to remain cautious amid elevated oil prices and ongoing geopolitical tensions. While downside may be cushioned by selective buying, upside could be gradual in the absence of clearer positive catalysts,” he noted.
Thong added the benchmark index is likely to trade within the 1,710–1,730 range today.
Among heavyweights, Maybank rose four sen to RM11.08 and CIMB added one sen to RM7.70. Public Bank fell two sen to RM4.73, while Tenaga Nasional and IHH Healthcare slipped 10 sen each to RM14.50 and RM8.71, respectively.
On the most active list, Borneo Oil was half-a-sen higher at one sen, GDB gained one sen to 41 sen and Hengyuan Refining rose three sen to RM1.36, while MRCB and Econpile lost one sen each to 35.5 sen and 15.5 sen, respectively.
Among the top gainers, Nestle advanced RM1.70 to RM104.60, Malaysian Pacific Industries gained 28 sen to RM38.28, LPI Capital rose 20 sen to RM14.60, while MBM Resources and United Plantations added 12 sen each to RM5.12 and RM32.12, respectively.
Among the top losers, Paragon Union fell 14 sen to RM4.70, while Sunway Construction and Manulife shed nine sen each to RM6.94 and RM2.29, respectively. Keyfield declined seven sen to RM1.66, and Ajinomoto lost six sen to RM12.42.
On the index board, the FBM Emas Index fell 14.13 points to 12,729.07, the FBM Top 100 Index declined 12.59 points to 12,599.03, the FBM Emas Shariah Index dropped 21.79 points to 12,686.05, the FBM Mid 70 Index eased 12.03 points to 18,186.06, and the FBM ACE Index slipped 6.41 points to 4,657.08.
By sector, the Energy Index added 1.98 points to 847.04, while the Financial Services Index gained 4.83 points to 19,989.64. The Industrial Products and Services Index eased 0.04 of-a-point to 195.09, and the Plantation Index rose 10.79 points to 8,828.58.
