KUALA LUMPUR, Sept 2 (Bernama) -- Bursa Malaysia ended higher on Wednesday on bargain hunting following the recent sell-off, ahead of Bank Negara Malaysia’s (BNM) overnight policy rate (OPR) decision on Thursday. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.20 points 1,708.74, compared with Tuesday’s close of 1,700.54. The benchmark index opened 0.42 of a point better at 1,700.96 and fluctuated between 1,695.89 and 1,709.71 throughout the day. On the broader market, losers trounced gainers 746 to 424, while 554 counters were unchanged, 1,048 untraded and 17 suspended. Turnover declined to 4.20 billion units valued at RM3.52 billion from 5.52 billion units valued at RM4.42 billion on Tuesday.
Global markets turned cautious as a sharp tech selloff and escalating US-Iran tensions weighed on sentiment, while Malaysia’s palm oil sector faced rising pressure from weak exports and intensifying regional competition . Wall Street Slides on Tech Weakness and Geopolitics US equities declined sharply, led by heavy selling in technology stocks: S&P 500 -1.62% , Nasdaq -1.98% , Dow -1.87% Super Micro Computer plunged 28% after a dilutive share placement Broad declines across chipmakers including NVIDIA , Advanced Micro Devices and Taiwan Semiconductor At the same time, oil prices surged 3% to US$90+ , as renewed military strikes heightened fears of inflation and prolonged high interest rates . KLCI Holds Ground but Breadth Signals Weakness Despite global volatility, Malaysia’s KLCI edged up 0.21% , supported by selective buying. However, underlying sentiment remained fragile: Losers outpaced gai...