KUALA LUMPUR: Bursa Malaysia traded cautiously at midday as persistent geopolitical tensions and elevated oil prices kept investor sentiment fragile.
The FBM KLCI was little changed, edging up 0.83 of a point, or 0.05%, to 1,711.72, recovering from its intraday low of 1,708.45.
Market sentiment remained negative, with 540 decliners outpacing 339 gainers, while 486 counters were unchanged. Total market turnover stood at 1.6 billion shares valued at RM1.36bil.
US President Donald Trump said the U.S. will pause attacks on Iran’s energy facilities for 10 days as talks progress, although Tehran dismissed Washington’s proposal as “one-sided and unfair.”
Despite the pause, tensions remain elevated with ongoing strikes, disrupted oil flows via the Strait of Hormuz and rising global energy prices, clouding the outlook for markets.
Apex Securities said sentiment on the Malaysian market is likely to remain fragile and headline-driven in the near term. It said investors are staying cautious amid renewed uncertainty over developments in the Middle East and mixed signals from the U.S. and Iran on peace negotiations.
It added that the weaker close across U.S., European and Asian markets reflects persistent volatility, with risk appetite expected to remain capped despite pockets of resilience in selected sectors.
Meanwhile, TA Securities said market volatility is likely to remain elevated until there is clearer visibility on the timeline for the conflict’s resolution, amid persistent inflationary pressures driven by higher oil prices.
“Immediate resistance for the index stands at the 123.6% Fibonacci Projection, or FP, level of 1,759, with the next upside hurdle at the 138.2% FP at 1,804, followed by stronger resistance at the 150% FP at 1,841.
“Immediate support is pegged at the January 2026 low of 1,666, with firmer support at the 76.4% Fibonacci Retracement, or FR, level of 1,610, followed by the 61.8% FR at 1,564,” it said.
Among the gainers, F&N jumped RM1.32 to RM31.02, Nestle gained 92 sen to RM98.92, PETRONAS Gas added 46 sen to RM18.08 and Malaysian Pacific Industries climbed 42 sen to RM29.44.
On the downside, United Plantations slid 20 sen to RM33.40, Batu Kawan fell 18 sen to RM19.70, Mulpha International lost 15 sen to RM2.80 and LPI Capital eased 12 sen to RM14.24.