At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.32 points, or 0.25%, to 1,691.18 from Friday’s close of 1,695.50.
The benchmark index had earlier opened 1.18 points lower at 1,694.32.
Market breadth was negative, with 273 decliners outnumbering 139 advancers. A total of 337 counters were unchanged, 1,898 untraded, and 10 suspended.
Turnover amounted to 290.07 million shares worth RM160.14 million.
Hong Leong Investment Bank Bhd said geopolitical risks remained elevated as US president Donald Trump stepped up rhetoric against Iran, with sustained oil strength fuelling inflation concerns and complicating the policy outlook.
“This week, the focus will now shift to the Institute of Supply Management (ISM) Services Purchasing Managers’ Index (PMI) for the US, the US March consumer price index data, the Federal Open Market Committee minutes, and preliminary consumer sentiment, as markets balance growth risks against persistent Middle East tensions.
“Bursa Malaysia is expected to remain volatile as markets continue repricing the protracted Middle East conflict, now in its sixth week,” it said in a note today.
It said elevated energy prices, amid disruptions in the Strait of Hormuz and key Persian Gulf infrastructure, are dampening risk appetite and clouding global growth prospects.
“As a highly trade-dependent market, Malaysia faces limited upside, with the KLCI likely to stay range-bound in a fragile, headline-driven environment.
“That said, domestic fundamentals should provide a stabilising anchor, supported by fiscal discipline, an accommodative monetary stance, Malaysia’s net energy exporter status, and resilient earnings growth,” it added.
The investment bank said weekly support is seen at 1,664–1,684, with resistance at 1,705–1,730.
Among heavyweights, Maybank was flat at RM11.26, Public Bank and CIMB eased two sen each to RM4.64 and RM7.47, respectively. Tenaga fell four sen to RM14.00, and IHH dropped six sen to RM8.90.
On the most active list, Supermax gained one sen to 36 sen, VS Industry decreased one sen to 17 sen, Top Glove inched up half-a-sen to 81.5 sen, AMBest increased five sen to 40 sen, and Sunway Medical lost four sen to RM1.94.
Among top gainers, MPI rose 50 sen to RM29.80, Petronas Chemicals jumped 14 sen to RM6.04, PMB Technology improved nine sen to RM1.55, MISC expanded six sen to RM8.31, and UCHI Technology firmed five sen to RM2.60.
Top losers included United Plantation, down 14 sen to RM33.90, Kelington fell 11 sen to RM4.95, Telekom Malaysia reduced 10 sen to RM7.18, Mulpha and VSTEC were eight sen lower at RM2.90 and RM4.39, respectively.
On the index board, the FBM Top 100 Index fell 34.69 points to 12,216.43, the FBM Emas Index fell 36.23 points to 12,355.93, the FBM 70 Index dropped 63.88 points to 17,077.05, the FBM Emas Shariah Index decreased 43.27 points to 12,226.29, and the FBM ACE Index reduced 21.77 points to 4,288.15.
By sector, the Financial Services Index decreased 36.68 points to 19,813.04, the Industrial Products and Services Index inched down 0.16 of-a-point to 184.59, the Energy Index trimmed 2.48 points to 816.04, and the Plantation Index shaved 4.35 points to 9,151.16.