Bursa Malaysia ends lower amid geopolitical, global growth concerns

KUALA LUMPUR, Aug 17 — The Bursa Malaysia index closed lower on Monday as global growth and geopolitical concerns dampened investor sentiment, according to an analyst. The FTSE Bursa Malaysia KLCI index fell 1.50 points to 1,725.89 compared to Friday's close of 1,727.39. Throughout the day, the benchmark index traded between 1,722.16 and 1,731.45.

Overall, more stocks fell than rose on the broader market, with 625 counters declining and 559 gaining. A total of 548 stocks closed unchanged, while 1,113 shares were untraded and 27 were suspended. Trading volume decreased to 3.45 billion units valued at RM2.74 billion from last Friday's 3.50 billion units valued at RM2.59 billion.

Mohd Sedek Jantan, IPPFA Sdn Bhd's director of investment strategy and country economist, noted that recent developments in West Asia have fueled doubts about achieving a broader peace agreement in the region, prompting investors to remain cautious about potential impacts on energy prices and regional stability. Among the major banking stocks, Maybank, Public Bank, CIMB Group, and IHH Healthcare experienced declines, while Tenaga Nasional remained flat.

Among the top gainers on the day were UMS Integration, Nestlé, Hong Leong Bank, PPB Group, and UWC. On the other hand, Malaysian Pacific Industries, Kuala Lumpur Kepong, Petronas Gas, Kelington Group, and AMMB Holdings were among the top losers. The index saw changes across various sectors, with the Financial Services Index dropping 86.31 points to 20,249.71 and the Plantation Index falling 13.78 points to 9,313.62.