KUALA LUMPUR, June 26 (Bernama) -- Bursa Malaysia reversed earlier losses to settle slightly higher on Friday, supported by a late rebound in banking stocks that lifted the benchmark index into positive territory just minutes before the market closed, an analyst said. At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index was up by 0.24 per cent, or 3.92 points, to 1,667.74 from Thursday’s close of 1,663.82. The index opened 0.68 of-a-point higher at 1,664.50 and moved between 1,659.74 and 1,668.75 throughout the trading session. Market breadth, however, was negative with decliners thumping gainers 728 to 334, while 528 counters were unchanged, 1,153 untraded and 65 suspended. Turnover dwindled to 2.93 billion units valued at RM2.26 billion against 3.18 billion units worth RM2.89 billion on Thursday.
Press Metal shares fell more than 6% as aluminium prices dropped to a three-month low, driven by easing Middle East tensions and the reopening of the Strait of Hormuz. The move signals a broader shift in the commodity cycle as supply risks unwind. The aluminium story is shifting from supply disruption to normalisation and that changes everything. What’s Happening Aluminium prices falling Down to ~US$3,122/tonne (3-month low) Supply concerns easing as shipping routes reopen Press Metal hit hard Share price dropped ~6–7% Highly sensitive to aluminium price movements Previously benefited from war-driven rally Strong earnings supported by higher prices Stock still up ~10% since Iran conflict began What’s Really Changing This is not just a price drop, it’s a cycle transition : Before → Geopolitical supply shock (prices pushed higher) Now → Supply normalisation (prices easing) As Hormuz reopens, the market is moving away from scarcity pricing. Key Takeaway The ke...