KUALA LUMPUR, Nov 12 (Bernama) -- Bursa Malaysia extended its losing streak for a fourth consecutive session, closing lower on Thursday amid continued broad-based selling that weighed on market sentiment, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 9.23 points or 0.57 per cent to 1,585.96 from Wednesday's close of 1,595.19. The benchmark index opened 3.61 points lower at 1,591.58 and fluctuated between an intraday low of 1,583.66 and a high of 1,592.89 throughout the day. Market breadth remained negative with losers thumping gainers 799 to 318, while 476 counters were unchanged, 1,181 untraded and 13 suspended. Turnover climbed to 3.06 billion units valued at RM2.56 billion compared with yesterday’s 2.90 billion units valued at RM2.33 billion.
Global markets turned risk-off on Monday as renewed US-Iran tensions shattered last week’s optimism, sending oil prices sharply higher and US equity futures lower . Risk Sentiment Deteriorates After Weekend Escalation Futures tied to the S&P 500 dropped nearly 1% , reversing momentum after the index closed at a record high last week. The shift comes after: Iran signaled it may skip upcoming peace talks The US maintained its naval blockade around the Strait of Hormuz Escalating rhetoric between both sides raised fears of prolonged conflict This highlights how recent market gains were largely driven by optimism rather than concrete progress . Oil Prices Spike as Supply Risks Intensify Crude markets reacted sharply to the renewed tensions: Brent crude surged more than 7% The escalation threatens global energy supply routes , particularly the Strait of Hormuz , a critical oil transit chokepoint. Analysts...