Bursa Malaysia ends lower as oil prices rise, bond yields stay elevated

Bursa Malaysia closed lower on Thursday due to moderate selling pressure and elevated global bond yields, dampening investor sentiment. The FTSE Bursa Malaysia KLCI index fell 4.12 points, or 0.24%, to 1,672.31, from the previous close of 1,676.43. Brent crude futures surged 3.3% to US$106.50 per barrel, adding to concerns that higher energy costs could contribute to inflationary pressures and maintain higher interest rates for longer.

As a result, risk appetite remained cautious, with investors favoring defensive and commodity-linked sectors. Major Malaysian stocks experienced mixed performance, with Maybank, Public Bank, and Tenaga Nasional among those under pressure. The broader market saw a decrease in the FBM Mid 70 Index, FBM Emas Index, and FBM Top 100 Index, while the FBM ACE Index showed a slight gain.