FBM KLCI Holds Steady Amid Global Market Turmoil

KUALA LUMPUR, June 4 — The FBM KLCI ended weaker on Thursday, paring early gains as investors remained cautious amid escalating Middle East tensions. The benchmark index closed around the 1,670 level, firmly in consolidation mode, after Brent crude prices edged near USD98 per barrel and U.S. Treasury yields rose. Analysts noted that despite global volatility, Malaysia’s equity market showed resilience, with expectations of a rebound in the near term.

Market Turmoil

The index is anticipated to hover between 1,670 and 1,685 today, supported by selective buying in blue‑chip counters. Regionally, sentiment was dampened as Hong Kong’s Hang Seng Index retreated below 26,000 on profit‑taking in tech stocks, while Wall Street closed sharply lower following Iran’s latest strikes on Kuwait International Airport. Traders in Malaysia remain watchful of external risks but believe domestic fundamentals could cushion the local bourse against prolonged downside pressure.

#businessnews