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Market Daily Report: Bursa Malaysia Ends Higher On Continued Bargain-hunting

KUALA LUMPUR, June 5 (Bernama) -- Bursa Malaysia closed higher, with the benchmark index rising 0.60 per cent as bargain-hunting persisted following the recent sell-off, despite weaker performances across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 10.17 points to 1,693.43 from Thursday's close of 1,683.26. The benchmark index opened 3.19 points higher at 1,686.45 and traded between 1,684.36 and 1,698.53 during the trading session. However, broader market sentiment remained negative, with losers outnumbering gainers 666 to 477. A total of 574 counters were unchanged, 958 untraded and 12 suspended. Turnover fell to 3.41 billion units worth RM3.04 billion from 3.47 billion units worth RM3.58 billion on Thursday.
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Ringgit Slides as Political Uncertainty and Global Risks Weigh

Malaysia’s ringgit weakened past 4.03/USD as political uncertainty and global pressures continue to weigh on investor sentiment.

What Happened

The Malaysian currency fell to 4.0320 against the US dollar, extending recent losses due to:

  • Domestic political risks (state elections, possible early general election)
  • Stronger US dollar from higher interest rate expectations
  • Geopolitical tensions affecting global markets

Key Drivers Behind the Weakness

1. Political Uncertainty Rising

  • Dissolution of state assemblies (Negeri Sembilan & Johor)
  • Talk of early national elections

 Uncertainty = cautious foreign investors

2. Stronger US Dollar Pressure

  • Expectations of higher US interest rates
  • Tariff concerns + global tensions

 Funds flow back to USD → emerging currencies weaken

3. Global Headwinds Not Helping

  • Ongoing Middle East conflict
  • Risk of stagflation if oil supply disrupted

 External risks continue to pressure the ringgit

4. Fiscal Concerns in Focus

  • Continued fuel subsidies may strain government finances

Adds long-term pressure on currency confidence

What’s Supporting Malaysia 

  • GDP still growing at 5.4% YoY
  • Consumer spending supported by:
    • Festive demand
    • Government cash aid
    • Salary adjustments
  • Inflation still relatively controlled (due to subsidies)

Outlook

Expects:

Ringgit to trade around 4.00 – 4.05
Bias remains toward further weakness

Key Insight 

Ringgit weakness is not just local, it’s a mix of political uncertainty + global macro pressure.

Investor Takeaways

  • Short-term pressure remains on MYR due to USD strength
  • Political developments could increase volatility
  • Watch:
    • US rate direction
    • Oil prices
    • Malaysia political clarity

Currency trend will depend more on global flows than local fundamentals

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