Bursa ends at 1,601 as geopolitical fears eclipse Budget 2027 optimism

Bursa Malaysia's KLCI index ended 10.77 points lower at 1,601.01 on October 8, 2021, as geopolitical tensions and higher oil prices dampened investor sentiment ahead of the 2027 Budget announcement. The index opened at 1,613.45, peaking at 1,617.94 early in the day and declining to a low of 1,597.94 mid-morning. The broader market saw losers outweigh gainers with a ratio of 813 to 378, while 482 counters were unchanged, 2,828 untraded, and 13 suspended.

Turnover decreased to RM3.46 billion compared to RM3.52 billion the previous day. Higher energy prices and geopolitical uncertainty are cited as significant near-term risks for Malaysian equities, with foreign investors remaining net sellers for 10 consecutive trading days, limiting the market's ability to absorb shocks. Among the major stocks, Tenaga Nasional, Maybank, and CIMB all saw slight declines, while Petronas Gas, Nestle, and Hengyuan Refining Company were among the top gainers.