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.
Quick Summary Bitcoin plunged over 10% to around US$65,000 , dragging crypto-linked stocks down more than 15% Options data shows no mass exit — traders are rotating strategies, not abandoning crypto HUT sees short-term put selling , signalling stabilisation rather than a bounce MSTR attracts longer-dated call buying , pointing to rebound expectations over weeks to months What Happened A sharp selloff in Bitcoin sent shockwaves through the crypto ecosystem. Mining stocks and Bitcoin treasury names were hit hard, with Hut 8 and MicroStrategy each falling more than 15% in a single session . Despite the severity of the move, options markets tell a calmer story . HUT: Volatility Selling Signals Short-Term Stabilisation After HUT slid to around US$46 , options traders did not rush to buy downside protection. Instead: Near-dated puts were sold , clustered around US$46–US$48 This reflects a view that immediate d...