KUALA LUMPUR, Oct 20 (Bernama) -- Bursa Malaysia’s benchmark index edged higher at the close as bargain hunting emerged following Monday’s sharp sell-off, although it narrowly failed to reclaim the 1,600 level, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 3.83 points, or 0.24 per cent, to 1,599.58 from Monday’s close of 1,595.75. The index opened 3.18 points lower at 1,592.57, marking its intraday low, and reached an intraday high of 1,602.83 in early trading. On the broader market, decliners outnumbered gainers 751 to 331, while 499 counters were unchanged, 1,259 untraded and 10 suspended. Turnover rose to 2.86 billion units worth RM2.42 billion against Monday’s 2.49 billion units worth RM2.38 billion.
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...