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.
Singapore equities opened lower on Thursday as investors reacted to a hawkish Federal Reserve stance , rising oil prices, and escalating geopolitical tensions. STI Declines as Global Sentiment Weakens The FTSE Straits Times Index (STI) fell 1.22% to 4,941 , tracking overnight losses on Wall Street where major indices dropped over 1% amid inflation concerns. Despite broader weakness, market breadth remained relatively resilient with 431 gainers vs 200 decliners , indicating selective buying. Fed Holds Rates but Signals Sticky Inflation The US Federal Reserve kept its benchmark rate unchanged at 3.5%–3.75% , but reinforced a cautious stance. Key signals include: Inflation expected to remain above 2% until 2028 Only one rate cut projected for 2026 Rising energy prices identified as a key inflation driver Fed Chair Jerome Powell highlighted high uncertainty , noting the economic impact of the Middle East conflict remains unclear. Oil Sho...