KUALA LUMPUR, Aug 6 (Bernama) -- Bursa Malaysia closed lower as investors took profits following the recent rebound, with telecommunications and industrial stocks leading the decline, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 11.02 points to 1,737.15, compared with Wednesday's close of 1,748.17. The benchmark index opened 1.48 points higher at 1,749.65, its intraday high, and hit a low of 1,733.38 in the afternoon session. On the broader market, decliners led advancers 575 to 567, while 573 counters were unchanged, 1,028 untraded and 13 suspended. Turnover slipped to 3.24 billion units valued at RM2.90 billion from 3.89 billion units valued at RM3.80 billion on Wednesday.
Malaysia’s ringgit weakened past 4.03/USD as political uncertainty and global pressures continue to weigh on investor sentiment. What Happened The Malaysian currency fell to 4.0320 against the US dollar , extending recent losses due to: Domestic political risks (state elections, possible early general election) Stronger US dollar from higher interest rate expectations Geopolitical tensions affecting global markets Key Drivers Behind the Weakness 1. Political Uncertainty Rising Dissolution of state assemblies (Negeri Sembilan & Johor) Talk of early national elections Uncertainty = cautious foreign investors 2. Stronger US Dollar Pressure Expectations of higher US interest rates Tariff concerns + global tensions Funds flow back to USD → emerging currencies weaken 3. Global Headwinds Not Helping Ongoing Middle East conflict Risk of stagflation if oil supply disrupted External risks continue to pr...