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.
Investors are rapidly rotating into defensive assets as the Middle East conflict intensifies, triggering a classic risk-off response across global markets. Money managers are favouring US Treasuries, gold, the US dollar and the Swiss franc, while trimming exposure to equities and emerging markets. The Immediate Market Reaction Key moves: US dollar surged Swiss franc strengthened Gold climbed Short-term Treasury yields fell to levels last seen in 2022 Brent crude spiked to multi-month highs The central concern remains the Strait of Hormuz, which handles roughly a quarter of global seaborne oil trade. Money Master Take This is not a simple geopolitical headline trade. It is a positioning reset. 1. “Haven First” Reflects Fragile Risk Appetite According to strategists, traders are adopting a “haven first, ask questions later” strategy. Why? Global equities were richly valued Credit spreads were tight AI volatility had already increased fragility Tariff uncertainty was unresolved The Iran e...