FBM KLCI Weakens on Technology Selling

FBM KLCI Slips to 1,672.31 Amid Technology Sell-Off and Geopolitical Caution

Bursa Malaysia ended lower on Thursday, with the benchmark FBM KLCI slipping 0.25% to 1,672.31 points after a choppy trading session. Negative market breadth prevailed as 677 decliners outpaced 436 gainers. Heavy selling in technology and telecommunications stocks weighed on local sentiment, offsetting strong gains in the energy and construction sectors.

Technology Selling

Energy counters rallied alongside rising crude prices, while utilities and construction found support from data center developments and public infrastructure projects. Technical momentum remains weak with the index trading below key moving averages and crucial support hovering at 1,660. Near-term caution is expected to persist ahead of domestic political events and Budget 2027.

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