Kuala lumpur: Bursa Malaysia reversed earlier gains to close marginally lower on Friday, pressured by late selling in blue-chip stocks as investors turned cautious amid ongoing geopolitical uncertainties in West Asia, which continued to dampen market sentiment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.86 points, or 0.11 per cent, to 1,683.07 from Thursday's close of 1,684.93.
According to BERNAMA News Agency, the benchmark index opened 3.25 points higher at 1,688.18 and moved between 1,680.59 and 1,694.65 throughout the session. However, the broader market was positive, with gainers outpacing losers 680 to 512, while 529 counters were unchanged, 921 untraded, and 51 suspended. Turnover rose to 4.94 billion units valued at RM10.74 billion compared with 3.53 billion units valued at RM4.19 billion on Thursday.
Rakuten Trade Sdn Bhd vice-president of equity research, Thong Pak Leng, noted that regional markets rebounded amid optimism regarding potential peace agreements between the United States and Iran, which could ease concerns over disruptions to global energy supplies. Consequently, Brent crude oil prices declined to around US$92 per barrel. However, domestic caution remains due to the lack of a definitive outcome from the US-Iran negotiations and ongoing geopolitical tensions in West Asia.
Among the heavyweights, Maybank increased by 14 sen to RM10.64, Tenaga Nasional by four sen to RM14.28, and IHH Healthcare by two sen to RM9.01. In contrast, Public Bank fell six sen to RM4.71, and CIMB Group slipped one sen to RM7.48. Active stocks such as Axiata, YTL Corp, and MR D.I.Y. saw minor gains, while QL Resources and NationGate Holdings experienced notable increases.
Leading gainers included Hong Leong Industries, which surged 62 sen to RM19.00, United Plantations and Ajinomoto rose 58 sen each, and Petronas Dagangan and Kuala Lumpur Kepong also posted significant gains. Conversely, top losers included Nestle, which dropped RM4.00 to RM91.00, along with Allianz Malaysia, Malayan Cement, Hong Leong Bank, and Petronas Chemicals.
On the index board, various indices, including the FBM Emas Index, FBM Top 100 Index, and FBM Emas Shariah Index, experienced gains. The FBM Mid 70 Index and FBM ACE Index also advanced. However, sectoral indices such as the Industrial Products and Services Index, Financial Services Index, Plantation Index, and Energy Index recorded declines.
Market volume expanded across the Main Market, while warrants turnover decreased. The ACE Market volume showed a slight decrease. Sector-specific trading volumes were noted across consumer products, industrial products, construction, technology, financial services, and other sectors.
Bursa Malaysia will observe closures on June 1 and 2 for the King's Birthday and Wesak Day holidays, resuming operations on June 3.