KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
Emerging markets suffered a sharp reversal in capital flows in March, with investors pulling out US$70.3 billion , marking the largest outflow since the Covid-19 market crash in 2020 . Massive Equity Selloff Led by Asia Data from the Institute of International Finance showed that equities accounted for the bulk of the outflows , with US$56 billion withdrawn — the largest equity exodus in at least two decades. The selloff was heavily concentrated in emerging Asia , which absorbed most of the equity withdrawals following strong inflows earlier in the year. This reversal represents a “sharp regime break” , triggered by geopolitical shocks linked to the Iran conflict . Oil Shock and Tech Repositioning Drive Risk-Off Shift The outflows were driven by a combination of factors: Oil prices surged ~50% to above US$100 , raising inflation concerns Investors reduced exposure to technology-linked equities , a key driver of Asian mark...