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.
A strike on Iran’s South Pars gas field has marked a significant escalation in the ongoing conflict, raising concerns over global energy security and intensifying geopolitical risks across markets. Energy Infrastructure Targeted for the First Time The attack hit Iran’s portion of the world’s largest natural gas field , shared with Qatar, damaging gas tanks and refinery facilities . This represents the first direct strike on major energy infrastructure in the Gulf during the conflict, a move widely seen as a turning point. Iran responded by warning neighbouring countries — including Saudi Arabia, the UAE, and Qatar — to evacuate key energy installations , signalling the potential for broader regional disruption. Escalation Raises Stakes for Global Energy Supply The development significantly increases the risk of supply shocks in global energy markets , as the Gulf region accounts for a large share of global oil and g...