KUALA LUMPUR, April 8 (Bernama) -- Bursa Malaysia ended broadly higher, with the benchmark index rising 1.16 per cent to close near the 1,700 mark, supported by positive sentiment following news of a two-week ceasefire between the United States (US) and Iran, which includes Tehran allowing safe passage through the Strait of Hormuz. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 19.45 points to its intraday high of 1,696.31 from Tuesday’s close of 1,676.86. The benchmark index opened 11.65 points higher at 1,688.51 and touched an intraday low of 1,683.58 in early trade. In the broader market, gainers trounced losers 855 to 410, while 459 counters were unchanged, 941 untraded and 11 suspended. Turnover increased to 3.77 billion units worth RM3.64 billion from Tuesday’s 2.55 billion units worth RM2.58 billion.
A temporary ceasefire in the Middle East has failed to restore normal shipping conditions in the Strait of Hormuz , as Iran continues to exert control through a de facto “toll system” , keeping global energy markets under pressure. Strait Control Maintains Supply Risk According to reports, Iran has implemented a politically driven access system in the Strait: Iran-linked shipments: Allowed free passage Friendly nations: Charged fees exceeding US$1 million per vessel Unfriendly nations: Potentially blocked The policy effectively turns the Strait into a strategic chokepoint , reinforcing uncertainty over global oil and gas flows. The arrangement remains in place despite the ceasefire agreement announced by Donald Trump . Ceasefire Fails to Normalize Energy Flows While the US-Iran truce was expected to ease tensions, shipping activity remains limited : Many vessels are avoiding the Strait entirely Others are forc...