KUALA LUMPUR, March 5 (Bernama) -- Bursa Malaysia ended higher today in line with regional equities as bargain hunting emerged after the benchmark index briefly slipped below the psychological 1,700 level in recent trading sessions. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 14.98 points, or 0.88 per cent, to close at an intraday high of 1,713.20 from Wednesday’s close of 1,698.22, The benchmark index opened 8.03 points higher at 1,706.25 and slipped to an intraday low of 1,701.83 in early trade. Gainers beat losers by 572 to 511, while 523 counters were unchanged, 1,016 untraded, and 11 suspended. Turnover declined to 2.85 billion units worth RM3.26 billion from Wednesday’s 3.51 billion units worth RM3.79 billion.
Global markets stabilised overnight as oil prices cooled, while Bursa Malaysia retreated below a key technical level amid rising geopolitical tensions.
Investors are balancing energy market volatility, geopolitical developments in the Middle East, and corporate earnings momentum, while monitoring new developments in Malaysia’s data centre and infrastructure sectors.
Wall Street Rebounds as Oil Market Stabilises
US equities staged a rebound after oil prices eased from earlier spikes triggered by geopolitical tensions.
Major indices closed higher:
Nasdaq Composite: 22,807.48 (+1.29%)
S&P 500: 6,869.50 (+0.78%)
Dow Jones: 48,739.41 (+0.49%)
Oil prices stabilised with crude futures rising 1.9% to US$75.96 per barrel, significantly lower than earlier spikes of up to 12% earlier in the week.
The market recovery followed President Donald Trump’s announcement that the US would insure oil shipments and provide naval escorts for tankers passing through the Strait of Hormuz, a critical route responsible for about 20% of global oil supply.
Technology stocks led the recovery, as investors regained confidence after fears that geopolitical tensions could disrupt global trade and economic stability.
Meanwhile, cryptocurrencies rallied sharply, signalling a rebound in risk appetite.
Bitcoin: +7.3% to US$73,289
Ethereum: +8.6% to US$2,150
Solana: +8.7%
XRP: +6.7%
Bursa Malaysia Slips Below Key Level
Despite the recovery in US markets, Bursa Malaysia ended lower, reflecting cautious investor sentiment.
The FBM KLCI declined 0.80% to 1,698.22, falling below the 1,700 psychological level for the first time since January 20.
Market weakness was largely driven by risk-off positioning amid escalating Middle East tensions, prompting investors to reduce exposure to equities.
Key market movers:
Top gainer: PPB — RM10.90 (+2.83%)
Top loser: YTL Corp — RM1.69 (-5.59%)
The ringgit strengthened slightly, with USD/MYR at 3.9415 (-0.11%).
Malaysia’s Oil Production Shows Mixed Trend
Malaysia’s oil output showed modest growth last year, despite a decline in crude production during the final quarter.
Key figures:
Total crude and condensate production (2025): 183.6 million barrels (+1.1%)
Condensate output growth: +6.1%
However, fourth-quarter results were mixed:
Total production: 47.8 million barrels (+4.5% YoY)
Crude oil production: -1.7% YoY
Condensate production: +18% YoY
The data suggests Malaysia’s energy output is increasingly supported by condensate production rather than crude oil alone.
Stocks to Watch
JT Group (JTGROUP)
The company secured a RM79.86 million contract from Tenaga Nasional to install 275kV double-circuit underground cables.
The infrastructure will provide power connectivity for a data centre in Pasir Gudang, Johor, highlighting continued investment in Malaysia’s rapidly expanding data centre sector.
The project is expected to be completed within 270 days.
Sunway (SUNWAY)
Sunway’s takeover offer for IJM Corp is currently under investigation by the Malaysian Anti-Corruption Commission (MACC).
Authorities are examining potential issues involving:
corruption
abuse of power
governance concerns
The investigation could influence investor sentiment around the deal.
Velesto (VELESTO)
Velesto secured two offshore maintenance contracts from Sabah Shell Petroleum Company for operations in Sabah’s deepwater oil fields.
The contract strengthens the company’s oil and gas services pipeline.
Wasco (WASCO)
Urusharta Jamaah — a Ministry of Finance-linked special purpose vehicle — has reduced its stake in Wasco below 5%, after selling 1.17 million shares.
NexG (NEXG)
Cargo aviation group Raya Aviation Holdings has become NexG’s largest shareholder, acquiring a 20.4% stake (711.7 million shares).
Exsim Hospitality (EXSIMHB)
The company has partnered with Majestic Gen to provide professionally managed accommodation across selected developments nationwide.
Investor Takeaways
• Wall Street rebounded as oil price volatility eased, lifting risk sentiment globally
• Bursa Malaysia fell below 1,700, reflecting cautious investor positioning amid geopolitical tensions
• Malaysia’s oil production rose 1.1% in 2025, driven by strong condensate output
• JT Group’s RM79.9M TNB contract highlights growing demand from Malaysia’s data centre sector
• Corporate developments across infrastructure, O&G and aviation sectors could drive stock-specific opportunities
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