KUALA LUMPUR, Sept 4 (Bernama) -- Bursa Malaysia ended lower on the final trading day of the week, weighed down by the plantation sector as investors locked in gains following its recent strong performance. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 7.03 points 1,708.10, compared with yesterday’s close of 1,715.13. The benchmark index opened 1.39 points lower at 1,713.74 and fluctuated between 1,704.86 and 1,715.20 throughout the day. The broader market was negative with losers outnumbering gainers 568 to 523, while 596 counters were unchanged, 1,085 untraded and 19 suspended. Turnover expanded to 4.33 billion units valued at RM2.98 billion from 3.90 billion units valued at RM3.21 billion on Thursday.
Morgan Stanley has shifted to a more cautious stance on Asian equities, cutting its overweight call on India as escalating Middle East tensions threaten energy supply chains and earnings outlooks. Key Takeaways Morgan Stanley downgrades India from overweight to equal-weight Asia seen as highly exposed to Middle East oil and LNG disruptions Strait of Hormuz risks could pressure earnings and valuations Foreign investors have pulled US$1.3b from India since the war began Why Morgan Stanley Is Turning Cautious Morgan Stanley strategists warned that Asian markets remain heavily dependent on Middle Eastern energy flows — including crude oil, refined products and LNG. A prolonged disruption in the Strait of Hormuz could: Lift oil and LNG prices Trigger earnings downgrades Raise regional risk premiums Slow economic growth across energy-importing economies Key Point: The bank believes markets are too complacent about supply-chain risks from the Iran war. India Downgraded on Energy Vulnerab...