Sharp, essential news and analysis from Malaysia.
The FBM KLCI inched up just 0.58 points to 1,737.29 by midday as investors adopted a cautious stance ahead of Middle East developments and upcoming corporate earnings. Plantation stocks provided support while the broader market showed more weakness.
Malaysia's benchmark stock index opened lower as crude oil surged past US$100 a barrel amid Middle East conflict concerns, pressuring investor appetite while energy counters gained ground.
Bursa Malaysia opened weakly despite surging oil prices, with the FBM KLCI rising just 3.01 points to 1,714.38. Energy stocks rallied on crude concerns, but investor caution persisted ahead of next week's Federal Reserve decision.
Malaysia's FBM KLCI retreated on Wednesday as banks and plantation shares tumbled, reversing recent GDP-driven gains. Investors remain cautious ahead of major US technology earnings.
Malaysia's FBM KLCI climbed past the 1,700 psychological barrier, reaching 1,713.16 points as PETRONAS subsidiaries and major banks rallied. The outperformance contrasts with weakness across most regional markets.