Bursa Malaysia ends lower as Middle-East tensions trigger market caution

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Bursa Malaysia News

Stocks,Closing,Middle East Tensions

KUALA LUMPUR, Oct 4 — Bursa Malaysia ended the week on a low note, weighed down by continuous selling in selected heavyweights, led by telecommunications and media counters, due...

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Maxis and CelcomDigi led the retreat, losing 22 sen and 9.0 sen to RM3.65 and RM3.62, respectively, erasing a combined 4.70 points off the local benchmark index.The market bellwether opened 3.06 points lower at 1,638.49 and moved between 1,625.35 and 1,639.29 throughout the day. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI remained in negative territory throughout the day as investor sentiments were affected by escalating tensions in the Middle East.

Mohd Sedek Jantan, the head of investment research at UOB Kay Hian Wealth Advisors, noted that the benchmark index is grappling with a complex mix of economic uncertainty, geopolitical threats, and the looming potential for a rebound in the Chinese market following last week’s announcement of a stimulus package.

 

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