KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
As Israel threatens retaliation against Iran for a recent missile attack, the global focus is increasingly on Iran’s critical oil and gas infrastructure in the Persian Gulf. Crude oil prices have already risen 4.5% in the past three days, though physical shipments of oil have so far remained uninterrupted.
Iran, the third-largest oil producer in OPEC, plays a pivotal role in global energy supply. About a fifth of global crude demand and a significant portion of liquefied natural gas pass through the Strait of Hormuz, a key maritime chokepoint along the Iranian coast. This waterway also serves as a passage for oil shipments from neighboring countries, including Saudi Arabia, Iraq, the UAE, Kuwait, and Qatar.
The range of potential Israeli responses could target military facilities, oil installations, or even nuclear sites in Iran. Any disruption to oil supplies from the region could send crude prices soaring, a significant concern with US elections looming next month.
Iran claims its missile barrage was in retaliation for Israel's attacks on Hezbollah, including the killing of its leader, Hassan Nasrallah.
The attached map of Iran's energy assets highlights key installations, including oil fields, refineries, pipelines, and storage terminals, emphasizing the strategic importance of these facilities in the global energy landscape.
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