Bursa Malaysia Lower At Midday Amid Oil Price Surge, Regional Sell-off

KUALA LUMPUR, March 9 (Bernama) -- Bursa Malaysia remained lower at midday, in line with regional markets, after Brent crude surged above US$105 per barrel amid the continuing US-Israeli conflict with Iran.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 42.12 points, or 2.45 per cent, to 1,675.94, down from Friday’s close of 1,718.06.

The benchmark index opened 18.93 points lower at 1,699.13 and fluctuated between 1,664.07 and 1,702.77 during the morning session.

Market breadth was negative, with losers outpacing gainers 1,065 to 244, while 216 counters were unchanged, 1,107 untraded, and 33 suspended.

Market turnover stood at 2.57 billion units valued at RM2.14 billion.

Regionally, Singapore’s Straits Times Index fell 2.66 per cent to 4,718.66 points, Hong Kong’s Hang Seng Index slipped 2.37 per cent to 25,147.80, Japan’s Nikkei 225 shrank 6.67 per cent to 51,915.49, and South Korea’s KOSPI shed 7.68 per cent to 5,155.91.

Malacca Securities Sdn Bhd said that, as Middle East tensions show little sign of de-escalation, the brokerage firm expects sentiment to remain volatile for the local bourse, which may continue to benefit energy and chemical stocks.

“Meanwhile, following Gamuda Bhd’s stellar second quarter of the financial year ending Jan 31, 2026 (2Q FY2026) performance, supported by a RM44 billion order book and RM8 billion in unbilled property sales, we anticipate the share price may recover in the near term.

“Moreover, companies such as Malayan Cement Bhd, Econpile Holdings Bhd, and Engtex Group Bhd could benefit from Gamuda’s significant project pipeline,” it said.

At the time of publication, Brent prices reached US$115.40 per barrel.

Meanwhile, Malacca Securities said Duopharma Biotech Bhd is poised for a breakout after the company announced stronger FY2025 results and secured RM665.8 million in government contracts.

Among the heavyweights, Maybank fell 44 sen to RM11.32, Public Bank slipped 16 sen to RM4.71, CIMB went down 26 sen to RM7.71, Tenaga Nasional shed 42 sen to RM13.78, and IHH Healthcare trimmed 43 sen to RM8.47.

On the most active list, Velesto added 1.0 sen to 34 sen, Bumi Armada was 2.5 sen higher at 37.5 sen, Handal Energy inched up half-a-sen to 5.0 sen, Capital A was 4.5 sen lower to 38.5 sen, AirAsia X went down 21 sen to RM1.07, while Ta Win was flat at 1.5 sen. 

Top gainers included United Plantation, up RM1.04 to RM31.32; Hengyuan Refining, up 37 sen to RM2.06; Hibiscus Petroleum, up 36 sen to RM2.41; Kuala Lumpur Kepong, up 36 sen to RM19.72; and Petronas Chemicals, up 32 sen to RM4.61.

Leading losers were Nestle, down RM5.00 to RM100.80; Malaysian Pacific Industries, down RM1.10 to RM29.00; Dutch Lady Milk Industries, down RM1.04 to RM30.96; Hong Leong Industries, down 98 sen to RM16.20; and Fraser & Neave, down 92 sen to RM32.00.

On the index board, the FBMT100 Index fell 299.53 points to 12,067.88, the FBM Emas Index went down 298.24 points to 12,229.12, and the FBM70 Index lost 397.87 points to 16,705.46. 

The FBM Emas Shariah Index decreased by 245.79 points to 11,961.01, and the FBM ACE Index fell by 202.75 points to 4,197.28.     

Sector-wise, the Financial Services Index shrank 594.37 points to 20,193.68, the Industrial Products and Services Index eased 3.89 points to 174.40, but the Plantation Index widened 227.96 points to 8,476.40, and the Energy Index gained 28.95 points to 824.22.

-- BERNAMA